Conjoint Analysis of Tourist Choice of Hotel Attributes Presented in Travel Agent Brochures

The purposes of this study are to demonstrate how it is possible to determine which attributes are the most important in the final choices of tourists who use a travel agent brochure as a source of information and how these attributes influence perceived value in a pre‐purchase stage. We conduct the study in three phases: (i) a qualitative study, (ii) an experiment using choice‐based conjoint analysis by means of a fractional factorial experimental design and (iii) another experiment using a full factorial derived from the same design. Results suggest advertisement size, a hotel's starred rating and price influence perceived value at this stage. The presence of a positive combined effect of price and advertising was found. Implications and directions for future applications are offered, focusing particularly on marketing services. Copyright © 2012 John Wiley & Sons, Ltd.     

A Comparison of Residents' Perceptions in Two Cruise Ports in the Mediterranean Sea

This paper examines residents' perceptions of a wide set of externalities exerted by the development of cruise tourism. The research involved data collection in two ports located in the two largest Mediterranean islands, Sicily and Sardinia, during the summer peak of the cruise season 2011. These two cruise destinations are especially interesting as they are characterized by a distinct life cycle. The empirical findings show that the two groups of residents have statistically equal perceptions on cruise activity in their destination. A correspondence analysis shows that residents have an overall positive attitude on the development of cruise tourism with respect to social, cultural and economic impacts. Nevertheless, they also feel that cruise activity has a negative impact, especially on the environment. Heterogeneity in occupation is explicitly taken into account. These findings provide directions for local policy‐makers. Copyright © 2012 John Wiley & Sons, Ltd.     

The impact of IT and customer orientation on building trust and commitment in the supply chain

The application of information technologies (IT) to logistics activities may have benefits beyond cost savings, as it can create bonds between the supply chain partners. The objective of this paper is to analyse the influence of customer orientation on the application of IT to the supply chain and of these on the development of channel relationships based on trust and commitment. A questionnaire-based personal survey was conducted among manufacturers. Structural equation modelling was used to test the hypothesis contained in the theoretical model. The results indicate that customer orientation affects the application of IT to logistics, and IT has a positive impact on manufacturer and supplier commitment to the relationship.     

Real indeterminacy of equilibria and manipulability

In this paper, we analyze the indeterminacy of equilibria in financial markets and propose a selection mechanism. We suggest that there is one equilibrium that prevails over the others, as a result of the market power of the agents that some states of nature become monopolists of certain commodities. Given a financial assets model, we define a price game and show the existence of mixed strategies equilibria. Then we purify these equilibria by considering a price game with incomplete information.     

Fostering Corporate Social Responsibility Through Public Initiative: From the EU to the Spanish Case

Should CSR be approached only on a voluntary basis or should it be complemented with a compulsory regulatory framework? What type of government intervention is more effective in fostering CSR among companies? This paper is an attempt to answer these questions, reviewing the debate between proponents of the voluntary case and the obligatory case for CSR, and critically analysing current international government-led initiatives to foster CSR among companies, and national government-led initiatives in the EU area. Finally, the paper focuses on the Spanish case, as an example of the failure of an exclusively voluntary approach. Despite the rapid uprise of CSR, Spain is still far behind late in CSR promotion strategies. Most action has been undertaken by companies themselves with no common guidelines, governmental support, or independent verification. The lack of a regulatory framework for CSR or ethical investment issues and the virtual absence of other indirect incentives, explains the misbalance between private, public and Third Sector initiatives. Based on the Spanish context which is quite similar to other non-OECD countries, the authors call for a more proactive government position in CSR related issues. The conclusions of the paper detail the features of this regulatory framework and other policies to promote CSR in Spain as well as in other OECD countries.     

Ownership structure and accountability: the case of the privatization of the Spanish tobacco monopoly, 1887-96

This paper analyses the case of the privatization of the Spanish tobacco monopoly, focusing on the period between 1887 and 1896, which corresponds to the first leasing contract between the state and the Spanish Tobacco Company and it is concerned with two different issues. First, it deals with the effects of privatization on accountability.The main question examined is whether public and private ownership entail different approaches to the way in which managers are accountable to owners, and the impact this issue had on corporate reporting. Second, it is concerned with exploring the determinants of accounting disclosure. Here, the basic issue is to understand the factors shaping changes in corporate reporting during the period of study.     

Modelling food and agricultural systems: A state-of-the-art study

The author provides a comprehensive survey of the recent models which have been constructed to analyze interacting factors in the field of food and agriculture. She discusses the ways in which over 20 models consider: the interrelationships between population and development, and environment and agriculture; international relationships; and technological change and investments.     

The intensive and the extensive margins: not only an international issue

Empirical evidence shows that quantity (intensive margin) and variety availability (extensive margin) have effects of different magnitude on populations’ welfare. Indeed, the pattern of a market dynamics may cause changes in welfare inequality. Low income consumers benefit more from quantity than high income consumers, who are more interested in enjoying variety. These facts have been usually addressed as consequences of trade liberalization by international trade theory. However, market dynamics are also present within the borders of every country. It is important to understand what forces, unrelated with international trade, affect these dynamics. This paper explores the transmission of different real shocks into market dynamics in a new-Keynesian closed economy. Results show that the source of the shock is crucial to determine the magnitude and direction of the effects on each margin.