The trend of emerging biorefineries is to process the harvest as efficiently as possible and without any waste. From the most valuable phytomass, refined medicines, enzymes, dyes and other special reactants are created. Functional foods, food ingredients, oils, alcohol, solvents, plastics, fillers and a wide variety of other chemical products follow. After being treated with nutrient recovery techniques, biofuels or soil improvers are produced from the leftovers. Economic optimization algorithms have confirmed that such complex biorefineries can be financially viable only (...) when a high degree of feedstock concentration is included. Because the plant material is extremely voluminous before processing, the farming intensity of special plants increases in the nearest vicinity of agglomerations where the biorefineries are built for logistical reasons. Interdisciplinary analyses revealed that these optimization measures lead to significantly increased pollen levels in neighbouring urban areas and subsequently an increased risk of allergies, respectively costs to the national health system. A new moral dilemma between the shareholder’s profit and public interest was uncovered and subjected to disputation. (shrink)

Every corporation has an economic and moral responsibility to its stockholders to perform well financially. However, the number of bankruptcies in Slovakia has been growing for several years without an apparent macroeconomic cause. To prevent a rapid denigration and to prevent the outflow of foreign capital, various efforts are being zealously implemented. Robust analysis using conventional bankruptcy prediction tools revealed that the existing models are adaptable to local conditions, particularly local legislation. Furthermore, it was confirmed that most of these outdated (...) tools have sufficient capability to warn of impending financial problems several years in advance. A novel bankruptcy prediction tool that outperforms the conventional models was developed. However, it is increasingly challenging to predict bankruptcy risk as corporations have become more global and more complex and as they have developed sophisticated schemes to hide their actual situations under the guise of “optimization” for tax authorities. Nevertheless, scepticism remains because economic engineers have established bankruptcy as a strategy to limit the liability resulting from court-imposed penalties. (shrink)

A new trend in the production technology of solid biof uels has appeared. There is a wide consensus that most solid biofuels will be produced according to the new production methods within a few years. Numerous samples were manufactured from agro-residues according to conventional methods as well as new methods. Robust analyses that reviewed the hygienic, environmental, financial and ethical aspects were performed. The hygienic and environmental aspect was assessed by robust chemical and technical analyses. The financial aspect was assessed (...) by energy cost breakdown. The ethical point of view was built on the above stated findings, the survey questionnaire and critical discussion with the literature. It is concluded that the new production methods are significantly favourable from both the hygienic and environmental points of view. Financial indicators do not allow the expressing of any preference. Regarding the ethical aspect, it is concluded that the new methods are beneficial in terms of environmental responsibility. However, it showed that most of the customers that took part in the survey are price oriented and therefore they tend to prefer the cheaper—conventional alternative. In the long term it can be assumed that expansion of the new technology and competition among manufacturers will reduce the costs. (shrink)

Interest in ethical aspects associated to product acquisition and consumption is a growing trend among consumers. In this context, the concept of “product with ethical attributes” has arisen to refer to products with explicit social and environmental characteristics. However, one of the factors that most hinders the purchasing of these products is certainly price. Given the difficulty of reducing price, the question that arises is the extent to which other product attributes can attenuate the negative impact of price on perceived (...) value. We assume that the special benefits associated to this type of products are, at a different level, attenuators of the relationship between price and perceived value. Focusing on Fair Trade organic coffee, hypotheses are tested regarding survey data from 407 customers. They were interviewed in an actual purchasing scenario. The models are tested using conventional Structural Equation Models and the Latent Moderated Structural Equation method. The results obtained shed some light on a highly generalised belief that the marketing of these products can only be improved by reducing their price. However, although a price reduction could be desirable, albeit complicated in this product category, its effects could be reduced by acting on other variables such as the ethical aspects, quality and healthiness of this product category. (shrink)