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Copyright of Galician Journal of Economics / Revista Galega de Economía is the property of Universidad de Santiago de Compostela, Servicio de Publicaciones and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Reputation is a complex and multidimensional concept that may be organized in downside and upside reputational risk. In this article, we present a formal modelling for the management capabilities of environmental management and reporting over reputational risk, considering that reputational risk is becoming increasingly important for organizations and it directly depends on the information available about companies' environmental performances. As long as the effectiveness of communication and disclosure plays a key role in the process, the usefulness of environmental management and reporting as a hedging instrument for reputational risk is addressed through different levels of information transparency. When considering a scenario of voluntary reporting, we show that environmentally concerned companies can reduce the cost of environmental management as a reputational risk strategy, as well as reducing the potential loss of reputational value from reputational threats and increasing the potential profit from reputational opportunities. In the context of mandatory reporting, we highlight the role of assurance companies as bearers of the risk of bad reputations for non-concerned companies. As a result, this novel approach applies theoretical oriented research from options theory to reputational risk management literature, so that it benefits from the option's well known theory, robustness, and conclusions. [ABSTRACT FROM AUTHOR]

Sustainable rural development (SRD) is an essential component of sustainable development on a global scale. Community Renewable Energy (CRE) has been advocated as a step forward in the progress towards SRD. While Northern European countries are experiencing a high development of CRE, Southern European countries lag behind. Considering entrepreneurship and renewable energy technologies (RET) as two fundamental components of CRE, through a systematic literature review this study identifies the antecedents or conditioning factors of entrepreneurship and RET exploitation in rural areas of developed countries, understanding that these same antecedents condition the development of CRE in these countries. The identified factors are organized around five capital spheres: economic, human, social, physical and natural. Given that these five spheres are not watertight compartments, but rather that their limits are diffuse and there are multiple interactions between them, we try to highlight their interrelationships through System Thinking based on the design of causal loop diagrams. The results can help policy makers and CRE projects' promoters in the design of effective policies and strategies to foster the development of CRE in rural areas of developed countries. [ABSTRACT FROM AUTHOR]