This study aims to investigate the determinants of efficiency, profitability and stability in the banking sector across the world over the period 2005-2012. In this study, efficiency is measured using data envelopment analysis (DEA), which is divided into technical efficiency (TE), pure technical efficiency (PTE), and scale efficiency (SE). The profitability is represented by return on assets (ROA), return on equity (ROE), and net interest margin (NIM). Furthermore, the z-score and capital ratios are the main indicators for stability. The data includes 323 banks (43 Islamic, 242 conventional, and 38 socially responsible banks [SRBs]) from around the world, covering 37 countries. The statistical methods to find the determinants are ordinary least square (OLS) and fixed effects model (FEM). The data for this study was extracted from the Bankscope and World Bank databases. According to efficiency, the DEA measures demonstrate that socially responsible banks (SRBs) are the most efficient banks. This is due to the fact that SRBs management employ minimum inputs; one of the main characteristics of SRBs is the saving of resources (inputs). In contrast, the least efficient scores are achieved by conventional banks. As conventional banks have higher interest expenses to pay. In terms of Islamic banks, the larger banks were found to be more efficient. Furthermore, lending services are important to maximise outputs effectively. Additionally, efficiency in Islamic banks is influenced significantly by earnings. Islamic banks with higher capitalisation were found to be more efficient, and new Islamic banks operate better than older banks. Regarding the macroeconomic factors, countries with better market capitalisations include more efficient Islamic banks. Based on the conventional banks’ findings, banks with a higher size performed better than the smaller sized banks. The loans profits increased the efficiency significantly. Focusing on age, the more recent banks achieve better efficiency scores. The three types of ownership (foreign, domestic, and public) reflect inverse correlations with DEA. With regards to the external variables, the wealth of the country is highly important in terms of efficiency. In addition, stock market growth supports the efficiency positively and significantly, while inflation and the global financial crisis (GFC) influenced the efficiency negatively and significantly. Concentrating on SRBs, banks with more capitals operated more efficiently than lower capitalised banks. Additionally, GDP, inflation and market capitalisation enhanced efficiency significantly. Overall, the relationship between the control of corruption and efficiency is positive and significant in Islamic, conventional and socially responsible banks. Tighter controls on corruption have led to better efficiency. Regarding the profitability, the highest ROA and ROE were attained by conventional banks. This is because the main aim for conventional banks is to achieve returns, and charging interest maximises their earnings. On the other hand, SRBs scored the lowest ROA and ROE as those banks are primarily concerned with providing social and environmental services over profits. According to NIM, Islamic banks do not have interest expenses, which can allow them to score the highest NIM measures in this study; while conventional banks have the minimum NIM ratios due to higher interest expenses. Based on the Islamic banks’ results, Islamic banking was affected positively by total assets of banks. In addition, the stable Islamic banks achieved greater profits based on the strong associations between z-score and earnings. This contradicts the relationship between profitability ratios and capital ratios, which indicate negative and significant correlations. Depending on country-specific factor, Islamic banks in higher productivity countries could not exploit the growth to gain higher profits. This results in a weakness for Islamic banks in terms of being resistant to higher inflation rates. For the conventional banks, size of bank and capital are highly important for profits. The conventional banks can concentrate on providing more loans to maximise their returns. The stability of conventional banks also has positive and significant associations with profitability ratios. Concerning the SRBs, profitability ratios are affected significantly and positively by stability (z-score) and market capitalisation growth. On the other hand, foreign, domestic and public ownerships negatively impacted the profits. According to industry-specific variables, GDP growth reduces profits significantly. For the stability, SRBs are demonstrably the most stable and resilient system against financial crisis. Accepting more deposits and attaining greater profits significantly increase the stability of all banks and lower the risk of insolvency. Overall, listed banks were found to be more efficient, profitable, and stable than unlisted banks. This study helps managers and policy makers within the banking sector to reduce costs and increase profits with lower risks. In addition, finding the positive determinants allows managers to make more decisions based on positive factors. On the contrary, through raising efficiency, profitability and stability in banking, managers can aim to avoid negative variables altogether. Finally, this study contributes to the literature in terms of adding socially responsible banks into the equation. In addition, comparing efficiency, profitability and stability simultaneously is a new method that can allow bankers to build effective strategic decisions based on the determinants.

The aim of this research is to examine how Africa can become a socially sustainable society by the year 2030 using a strategic leadership approach with Cameroon as a case study. Using a generic and whole systems view, the study would examine the possibility of a transition from a socially un-sustainable society to sustainable society. The study analyses the current political, economic, social and environmental operations that undermines people’s ability to meet their basic needs. It also highlights some of the strengths and opportunities of the Cameroonian society that can help accelerate this transition. Threats and weaknesses are also identified and corrective measures are proposed. Agriculture and social capacity building amongst others stand out as prominent opportunities which could be use to further strategic progress towards sustainability. The study concludes that, with a well defined vision, it is possible for Cameroon to strategically progress towards a socially sustainable society.

Syftet med studien är att undersöka identitetsskapandet hos ungdomar som växer upp i ett så kallat ”särskilt utsatt område” samt att undersöka hur ungdomarna upplever att samhällets kollektiva representationer (kollektivt accepterade utsagor) av det område de växer upp i påverkar deras sociala identitet. Studien genomförs genom narrativa intervjuer med ungdomar som växer upp i stadsdelen Vivalla i Örebro. Ungdomarnas narrativ analyseras med två olika analysmetoder, dessa är tematisk analys och diskursanalys. Studien visar, i likhet med andra studier, att identiteten skapas i samspel med andra och i relation till platsen. Studien visar också att de kollektiva representationerna påverkar ungdomarna i hög grad då ungdomarna ständigt utkrävs moraliskt ansvar för händelserna i området. Det tillhör också vanligheterna att ungdomarna blir föremål för viss grad av symboliskt våld. Detta leder till att de relevantgör en motståndsidentitet för att förändra narrativen om förorten och ”invandrare”. Det symboliska våldet binder dem ännu starkare vid platsen och ökar känslan av samhörighet med andra inom ”orten” samtidigt som klyftorna mellan ”orten” och de andra förstärks. / The aim of this study is to investigate the identity formation of youths who grow up in a so called "socially disadvantaged area". The study also aims to investigate how collective representations (collectively accepted narratives) of the neighbourhood affects the youth’s social identity. This by examining narratives from young people who grow up in the district of Vivalla in Örebro, Sweden. The study shows, like previous studies, that the identity is formed in relation to the neighbourhood. The study also shows that the collective representations affects youths. Where they, from others, are demanded moral responsibility for the events in the area. Their identities also receive forms of symbolic violence when trying to fit in the society. Because of this, the youths tend to form a resistant identity to change the narratives of the suburb and the concept of "immigrants". The symbolic violence and the lack of association with the main city works as a subterfuge to avoid other neighbourhoods.

Abstract The purpose of this thesis is to investigate the economics of biodiversity maintenance in boreal forests. From the many tasks available in forest management to improve biodiversity maintenance, the focus is on the lengthening of forest rotation and strict protection, i.e., protected areas. Accordingly, the analysis basis on two different models named forest rotation model and site selection model. Moreover, both socially optimal and cost-effective conservation are considered. The data consists of 32 old-growth stands from northern Finland. The four studies of this dissertation provide evidence of the non-negligible economic consequences of taking biodiversity services into account along with timber production in the forest management. Study I shows that theoretically the optimal management of initial stands involves three alternatives: immediate clear cutting, delayed harvesting, and protection. Moreover, the numerical analysis reveals that taking into account the biodiversity services along with timber production results in considerably longer optimal rotation than in pure timber production management. Delayed harvesting is the most common option for socially optimal management of old-growth forests. However, the integrated approach results also in strict protection of some stands. Study II compares alternative approaches, named integrated, ecological and penny pincher selection, for selecting forest reserves. It suggests the integrated selection leads to 9–19% higher conservation cost-efficiency than the other selections. The integrated selection takes into account both the economic value and ecological features of the stands as the other selections focus only on one of these aspects. It seems also that the xeric forest type may be under-represented in the current old-growth forest preservation network in the studied region. Study III analyses the performance of alternative biodiversity indicators used in the selection of protected areas. It shows that the use of indicators likely results in a loss of species and, therefore, a complete species inventory is necessary if the goal is to maintain all species in the landscape. However, the use of indicators seems to be an economically more efficient practice than to execute a large species survey for habitat protection. Study IV examines the relative merits of alternative biodiversity conservation targets for forestry, which give different weights to species according to their conservation status and assumed population persistence. Also, socially optimal conservation is solved as a benchmark by maximizing the benefits from timber production and biodiversity services. According the results it is optimal to protect 16 out of 32 stands. Alternative conservation goals give different characters in terms of benefit-cost tradeoffs. More specifically goals relying on complementarity between protected stands result in great marginal costs at a high conservation level.

In today’s society sustainability has become a highly discussed topic due to the increase in global average temperatures and changing ecosystems. Despite differentiating views regarding the origins of these changes, a proportion of the society have begun to adjust themselves into having more green profiles. This has led to an uprising among the number of investors who focus on making socially and responsible investments. However, on the contrary, there is still a substantial proportion of investors who do not invest in environmentally, animal and human friendly products. Which in turn may negate the pace of the ethical and sustainable development of our society. This issue leads to this study’s research question: What are the reasons or hindrances as to why students at Umeå School of Business and Economics do not invest in SRI financial products?   The main purpose of this paper is to explore why individuals at Umeå School of Business and Economics do not invest in SRI financial products. Furthermore, the paper aim to have an extra emphasis on information. In addition to the main purpose, the thesis will investigate if any links exist between investing ethically/sustainable and one’s daily behaviour. In order to explore these purposes, the authors uses past research within this area together with theoretical concepts regarding “Investment Decisions”, “Markowitz Portfolio Optimisation Model” and “Pro-Social Behaviour”. To conduct this study, the paper uses a quantitative approach with both primary and secondary data. The primary data is collected through a survey sent out to 917 students at Umeå School of Business and Economics. In order to achieve the purposes of this study, the data from non-SRI investors was used to analyse their investment behaviours.   The results of this study indicate that the majority of non-SRI investors are men. Furthermore, the findings illustrate that the expected financial return of SRI and risk when investing is significantly related to the probability of not investing in SRI. Additionally, the results point at that the demeanour of not investing in SRI products are significantly due to a lower level of knowledge concerning financial return of SRI. In conclusion, the authors argue that the attraction of capital ethical and sustainable investments can be greatly increased by educating investors in SRI products. Consequently, the increase in awareness and attraction of capital can aid solving the ethical and sustainable issues that exists today.

In this essay a quantitative empirical study with qualitative elements is performed. The purposeof the paper is to investigate whether public procurement can be applied as a political instrument. The empirical data consists of a selection of government agencies and how well these government's governing documents have implemented the current government's National Public Procurement Strategy. In order to analyze the degree of implementation, three different implementation theories are applied. The theories applied are implementation from an upside down perspective, implementation from a bottom and up perspective and implementation based on ability, will and understanding. In order to delimit the essay to a reasonable extent, the study aims to focus on how socially responsible public procurement have been included in the governing documents. The question that is aimed to be answered is: to what extent has the objective of socially responsible in public procurement been implemented in the governing documents? The second question is: Is social responsibility more prominent in governing documents that were updated after launching the national public procurement strategy. the third question is: what possible implementation barriers can be identified when implementing the national procurement strategy. The method used in the essay is essentially a quantitative content analysis that is complemented by a qualitative interview survey. The results of the empirical study show shortcomings in the implementation of the selected authorities, which indicates that the national strategy have a weak effect as a political instrument.

To add to the tools currently available to combat income inequality in the United States an investment fund type is proposed, justified, described, and created using historical asset returns from 1960 to 2015. By focusing on two socio-economic indicators of poverty, inflation and unemployment rates, this fund, when marketed to investors who live near, at, or below the poverty line, seeks to increase returns during times of increased strain on the economies of the poor. Multiple hurdles are proposed and affirmatively answered to this end and a fund type and corresponding four factor model that realized hypothetical excess returns fitting the requirements of a successful investment strategy was developed and evaluated. With the increasing importance of socially responsible investment practices an investment bank who maintains a fund of this type could potentially see financial and reputational benefits.

Corporate Social Responsibility (CSR) is a much debated and ever changing topic. From a South African context, one of the most recent means of measuring CSR has been through the use of the Johannesburg Stock Exchange (JSE) socially responsible investment index (SRII). The JSE SRII was first introduced in 2004 and has grown in popularity and effectiveness since. Included amongst the criteria for inclusion in this index is compliance with black economic empowerment (BEE). The index measures companies against the triple bottom line (environment, society&economy). Companies included in the index are deemed to have good CSR practices. This study evaluates the effects of CSR on the corporate financial performance (CFP) of the top 100 listed companies on the JSE over a 10 year period (2002-2011). The findings of the study suggest that companies not included in the SRII, on average, perform better than SRII companies. The basis of this conclusion is on the analysis of the results of the total return index (TRI), return on assets ratio (ROA) and the net profit margin percentage (NPM). / Dissertation (MCom)--University of Pretoria, 2013. / Financial Management / unrestricted

The current study applies a two-state switching regression model to examine the behavior of a hypothetical portfolio of ten socially responsible (SRI) equity mutual funds during the expansion and contraction phases of US business cycles between April 1991 and June 2009, based on the Carhart four-factor model, using monthly data. The model identified a business cycle effect on the performance of SRI equity mutual funds. Fund returns were less volatile during expansion/peaks than during contraction/troughs, as indicated by the standard deviation of returns. During contraction/troughs, fund excess returns were explained by the differential in returns between small and large companies, the difference between the returns on stocks trading at high and low Book-to-Market Value, the market excess return over the risk-free rate, and fund objective. During contraction/troughs, smaller companies offered higher returns than larger companies (ci = 0.26, p = 0.01), undervalued stocks out-performed high growth stocks (hi = 0.39, p i = 0.01, p = 0.02). The hypothetical SRI portfolio was less risky than the market (bi = 0.74, p i = -0.01, p = 0.03). The hypothetical SRI portfolio exhibited similar risk as the market (bi = 0.93, p

It is the goal of this program to identify these at-risk students, track their grades, and incorporate a tutorial program to motivate and build their self-esteem and ultimately, their academic performance. This program can succeed with the proper administrative support, teacher involvement and parent and community assistance.