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Purpose: Cluster management organizations (CMOs) have emerged over the past few decades as intermediaries that support the competitiveness of place-based clusters of economic activity. Despite their economic origins, policymakers are now starting to experiment with a broader use for cluster policies that seeks to leverage CMOs to tackle societal challenges in approaches aligned with the concept of creating shared value (CSV). However, there remains a void in conceptual understanding around the specific roles that CMOs might play in overcoming the barriers faced by their members for CSV, which this paper aims to address. Bridging this gap presents an opportunity for cluster practitioners and policymakers in a context in which environmental and social sustainability are at the top of policy agendas. Design/methodology/approach: Based on analysis of literature around collaborative approaches to CSV for mitigating transaction costs, the authors define the contours of a new conceptual framework for the roles that CMOs can play in fostering collective CSV. The authors illustrate how the different components of the framework are reflected in emerging cluster practice in the context of a new wave of European cluster-based projects tackling CSV elements. Findings: The resulting framework reconciles the concepts of clusters and CSV by explicitly positioning CMOs as intermediaries for facilitating the CSV strategies of their members. CMOs embrace emergent strategy making that targets (tangible and intangible) collective CSV capabilities and addresses collective CSV challenges. Collective CSV can provide a theoretical anchor guiding future cluster policies to fully leverage the transformative potential of CMOs. This conceptual framework opens a promising empirical research agenda, particularly around evaluating the plurality of impacts of CMOs. Originality/value: By stressing the social impact of CMOs alongside their well-understood economic impacts, and by enabling a categorization of functions that can support the monitoring of CMO activities toward collective CSV strategies, the framework provides a novel basis for inspiring further empirical research into the evidencing of these roles. [ABSTRACT FROM AUTHOR]

Purpose: The literature on economic forecasting, is showing an increase in criticism, of the inaccuracy of forecasts, with major implications for economic, and fiscal policymaking. Forecasts are subject to the systemic uncertainty of human systems, considerable event-driven uncertainty, and show biases towards optimistic growth paths. The purpose of this study is to consider approaches to improve economic foresight. Design/methodology/approach: This study describes the practice of economic foresight as evolving in two separate, non-overlapping branches, short-term economic forecasting, and long-term scenario analysis of development, the latter found in studies of climate change and sustainability. The unique case of Ireland is considered, a country that has experienced both steep growth and deep troughs, with uncertainty that has confounded forecasting. The challenges facing forecasts are discussed, with brief review of the drivers of growth, and of long-term economic scenarios in the global literature. Findings: Economic forecasting seeks to manage uncertainty by improving the accuracy of quantitative point forecasts, and related models. Yet, systematic forecast failures remain, and the economy defies prediction, even in the near-term. In contrast, long-term scenario analysis eschews forecasts in favour of a set of plausible or possible alternative scenarios. Using alternative scenarios is a response to the irreducible uncertainty of complex systems, with sophisticated approaches employed to integrate qualitative and quantitative insights. Research limitations/implications: To support economic and fiscal policymaking, it is necessary support advancement in approaches to economic foresight, to improve handling of uncertainty and related risk. Practical implications: While European Union Regulation (EC) 1466/97 mandates pursuit of improved accuracy, in short-term economic forecasts, there is now a case for implementing advanced foresight approaches, for improved analysis, and more robust decision-making. Social implications: Building economic resilience and adaptability, as part of a sustainable future, requires both long-term strategic planning, and short-term policy. A 21st century policymaking process can be better supported by analysis of alternative scenarios. Originality/value: To the best of the authors' knowledge, the article is original in considering the application of scenario foresight approaches, in economic forecasting. The study has value in improving the baseline forecast methods, that are fundamental to contemporary economics, and in bringing the field of economics into the heart of foresight. [ABSTRACT FROM AUTHOR]

Purpose: The Australian prisoner population has experienced a dramatic increase in the number of older inmates over the past decade, consistent with the greying of the prisoner population that is being observed worldwide. Reviews suggest the need for further evidence and practice outside of the USA. This paper aims to review and discuss the cost and social implications of the rising health-care needs of this population in Australia. Design/methodology/approach: A review of international research and policies is presented, as well as the results of basic economic modelling relating to the expected rise in health-care costs of the ageing prisoner population in Australia. Findings: Taking into consideration the continued rise in incarceration rates, the calculations show that the health costs of prisoners could increase by anywhere between 17% and 90% depending on whether the increase of older prisoners continues as it has in the past decade. These trends are likely to continue over the next decade and will result in higher health costs of prisons under a number of different imprisonment scenarios. Policy responses in Australia have been slow so far, with most initiatives being undertaken in the USA with promising results. Practical implications: The authors suggest that in the absence of a coordinated policy response, covering a range of interventions, costs will continue to increase, particularly as this population continues to age more rapidly than the general population due to an accumulation of risk factors. Well-conceived interventions would be a worthwhile investment from both financial and social perspectives. Originality/value: To the best of the authors' knowledge, this is the first commentary to acknowledge this rising public health issue and to both review and model its implications for the future. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to assess higher education institutions' (HEIs) social sustainability by applying Integrated Social Value (ISV) analysis to eight universities belonging to the Catalan Association of Public Universities in Spain. Design/methodology/approach: ISV analysis is a social accounting methodology that considers both the economic value and the social value created for all the organisation's stakeholders through a participatory and systematic process. Findings: The authors have shown that ISV analysis can be effective to assess the impacts on social sustainability of HEIs. The monetised results facilitate understanding about the valued impacts and allow integration with the universities' financial data. Research limitations/implications: The research advances the under-researched topic of social sustainability assessment in higher education. Practical implications: Quantifying universities' social impacts in monetary terms may help to transform conventional financial accounting and improve HEIs' internal strategy and management according to sustainability principles. Social implications: The process of measuring the social value created by universities provides a way to meet the rising demands for greater accountability and transparency and facilitates engagement with stakeholders on how these institutions are contributing to sustainable development. Originality/value: ISV analysis represents an innovative approach to assess how HEIs create benefits for its internal and external stakeholders and contribute to solutions to social challenges. [ABSTRACT FROM AUTHOR]

Purpose: Poor maintenance management leads to non-negligible economic, environmental and social impacts and obstacles to the sustainable manufacturing paradigm. Studies evaluating maintenance impacts on sustainability underline growing interest in the topic, but reports on the industrial field are lacking. Therefore, this paper investigates the industrial environment and the indicators that manufacturing companies use for measuring their maintenance impacts. Design/methodology/approach: In this pilot survey study, several stakeholders of production enterprises in the south of Italy were interviewed to unveil the spread of the measurement of maintenance impacts on sustainability and the indicators used by those companies. Findings: The interview results showed a low level of awareness among stakeholders about maintenance impacts on sustainability. Maintenance stakeholders are mainly focused on technical and economic factors, whereas environmental, quality and safety stakeholders are becoming more aware of maintenance impacts on environmental and social factors. However, both groups need guidelines to define sustainability indicators to assess such impacts. Originality/value: This exploratory study allowed us to investigate the current situation in industrial organisations and achieve the first variegated and diversified vision of the awareness of company stakeholders on maintenance impacts on the sustainability of several business functions. This paper provides a valuable contribution to "maintenance and sustainability" research area in production contexts and sheds light on non-negligible maintenance impacts on sustainability, providing preliminary insights on the topic and an effective basis for defining future research opportunities. Moreover, this study enables increased awareness among internal and external manufacturing company stakeholders on the role of maintenance in sustainable production. [ABSTRACT FROM AUTHOR]

Purpose: The objective of the paper is to explore the out-of-sample forecasting connections in income growth across the globe. Design/methodology/approach: An autoregressive distributed lag (ARDL) framework is employed and the forecasting performance is analyzed across several horizons using different forecast combination techniques. Findings: Results show that the foreign country's income provides superior forecasts beyond what is provided by the country's own past income movements. Superior forecasting power is particularly held by Belgium, Korea, New Zealand, the UK and the US, while these countries' income is rather difficult to predict by global counterparts. Contrary to conventional wisdom, improved forecasts of income can be obtained even for longer horizons using our approach. Results also show that the forecast combination techniques yield higher forecasting gains relative to individual model forecasts, both in magnitude and the number of countries. Research limitations/implications: The forecasting paths of income movement across the globe reveal that predictive power greatly differs across countries, regions and forecast horizons. The countries that are difficult to predict in the short run are often seen to be predictable by global income movements in the long run. Practical implications: Even while it is difficult to predict the income movements at an individual country level, combining information from the income growth of several countries is likely to provide superior forecasting gains. And these gains are higher for long-horizon forecasts as compared to the short-horizon forecast. Social implications: In evaluating the forward-looking social implications of economic policy changes, the policymakers should also consider the possible global forecasting connections revealed in the study. Originality/value: Employing an ARDL model to explore global income forecasting connections across several forecast horizons using different forecast combination techniques. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to explore the concept of pensionomics as a prospective tool for pension evaluation. This paper suggests a paradigm shift -- a multi-disciplinary synthesis of differing perspectives in evaluating pension's overall performance based on past work on pension evaluation -- incorporating non-economic variables with significant impact on economic growth and social development. Design/methodology/approach -- This paper suggests a new analytical tool called "Pensions Consistency (PC) Index" that identifies the level of consistency and the strengths and weaknesses within any pension system. The new conceptual framework focusses on building inter-sectoral and holistic policies able to respond to the new multi-dimensional dynamic environment. Findings -- The consideration of pensionomics concept as an evaluation tool for pension schemes provides insights that are helpful in explaining performance differentials. Taking definition, classification and evaluation as a guiding principle, the new conceptual framework can be a useful point of reference for the overall evaluation of pension schemes, revealing deficiencies that traditional evaluation methods cannot detect. The multi-disciplinary approach focusses on building inter-sectoral and holistic policies that are able to respond to the multi-dimensional uncertainties of the new dynamic environment. Research limitations/implications -- The heterogeneity and complexity in event dynamics are systemic in the sense that the impact is far from linear. The idiosyncratic nature of unexpected and unpredictable events is rather a result of multi-dimensionality based, among others, on magnitude, frequency, timing, intensity and impact. It is plausible to argue that crisis episodes can destabilize critical systems of economic activity, producing economic spillovers that can directly or indirectly affect the sustainability of pension schemes. If the calculation of direct economic impact is readily traceable, the estimation of indirect economic impact can be an onerous task. Practical implications -- Pensionomics places the concept of retirement in a multi-disciplinary context. Pensionomics overcomes theoretical and empirical limitations encountered by the path-dependency perspective, developing a new research agenda to study pension schemes under historical, cultural, social, political, economic, political and environmental prism. Integrating diversified data, techniques, perspectives and concepts, pensionomics' objective is to connect natural and man-made events with social protection mechanisms for the development of a dynamic social protection framework where individual, community and society needs are met effectively and efficiently by implementing tailored policies, closely related to their specific context. Social implications -- The concept of retirement has evolved constantly, transforming societies and shaping both income and non-income dimensions of well-being. Pension entitlement turned gradually from a political discourse to a human right discourse. Pension schemes have extended the scope of insurance coverage beyond labour markets and the lifecycle, supporting the broader needs of entire population. Furthermore, pension schemes are widely acknowledged as drivers of economic growth: they enhance labour productivity; foster smooth consumption; and create a stable economic environment for investment and innovation. Current expectations require pension schemes to adopt proactive and reactive policies to examine options for mitigation or for modification of potential consequences in anticipation of exceptional events. Originality/value -- This paper suggests a paradigm shift, a multi-disciplinary approach called pensionomics, and this "multi-disciplinary" focus builds a new analytical framework to evaluate pension's overall performance based on past work on pension evaluation, incorporating non-economic variables with significant impact on economic growth and social development. PC-Index introduces a comprehensive evaluation tool to study the coverage, performance, efficiency, effectiveness, current trends and future possibilities of pension schemes. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to compare the overall performance of the injection moulding process by using metallic inserts produced by both conventional technologies and selective laser melting (SLM). Design/methodology/approach: A systematic methodology is proposed for prior evaluation of the effectiveness of conformal cooling channels to reduce cycle time and/or to reduce the scrap rate. Findings: The mould was reengineered considering the SLM process and manufactured. Injection trials were carried out to validate expectations provided by injection simulations, which resulted on good quality parts and a significant decrease on cooling time, and, consequently, on the overall cycle time. The minimisation of scrap provided energy savings and time-to-market reduction. Research limitations/implications: The initial costs for AM tools still pose some doubts on decision-makers. The challenge of this study is to implement the methodology on a small-scale production and still ensure that benefits are achieved. Practical implications: The case study selected for this research work is based on a parking sensor housing, which is a plastic part assembled on the vehicle's front and rear bumpers, therefore, with aesthetics concerns. The part produced with the conventional mould exhibits surface defects that, to be minimised (not eliminated), require a longer packing time to diminish the sink marks. Social implications: The economic impact of the use of SLM is relevant despite the low batch size for the case study presented. Energy savings are achieved due to scrap reduction and shorter cycle time. Originality/value: The systematic methodology proposed for prior evaluation of the advantages of conformal cooling is possible to be applied both on small scale and high production series. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to examine the social impact of major sports events perceived by host city residents using Shanghai as an example. Design/methodology/approach -- Exploratory factor analysis based on 450 valid questionnaires. Findings -- Research revealed six impact factors including four positive ones: "image and status," "international exchange and cooperation," "economic and tourism development," and "infrastructure development." In addition, two negative ones are also identified as "inconvenience of life" and "environment pollution and security concern." Taken as a whole, the local residents in Shanghai have a relative positive perception of the impact of major sports events. Four out of six impact factors were significantly predictive of the attitude toward future bidding of major sports events. Originality/value -- The existing literature mainly examined social impact of specific events through case study, and little is known about the overall perception of major sports events in general. Accordingly, this paper seeks to bridge the gap by taking an event portfolio approach using Shanghai as an example. [ABSTRACT FROM AUTHOR]

The article offers information on a study regarding the greenhouse gas (GHG) emission reduction target at Yale University, New Haven, Connecticut. It reports that the study aimed at analyzing the development and implementation of GHG reduction target at Yale. It explores the process followed by institutional target in order to lead the greater community action and long-term commitment. It discusses the involvement of sustainability at the institutional level which can help in improving the environmental, economic, and social impacts of institutional culture.