Destination management plans – a new approach to managing destinations in England: evidence from Milton Keynes

Within a new political and economic context, Destination Management Organizations (DMOs) across England are expected to facilitate a more holistic and inclusive approach to destination management and provide core leadership functions, rather than being solely responsible for the marketing and development of destinations. Destination Management Plans (DMPs) are an expression of a government-mandated, current policy-driven approach to guiding the work of private-led DMOs. These DMOs are being challenged to achieve a more sustainable level of performance in times of decreasing state funding. Building on the scarce literature surrounding this new approach to managing destinations, this paper looks into how an emerging destination has approached the development of such a plan in practice. The paper examines the case of Milton Keynes and its local destination management structure, the collaborative approach to policy development and the resultant DMP. The paper concludes by discussing the importance of the key aims of the plan and their relevance to comparable emerging destinations, which are developing DMPs.     

DATA GAPS,DATA INCOMPARABILITY,AND DATA IMPUTATION: A REVIEW OF POVERTY MEASUREMENT METHODS FOR DATA‐SCARCE ENVIRONMENTS

Questions that often come up in contexts where household consumption data are unavailable or missing include: what are the best existing methods to obtain poverty estimates at a single snapshot in time? and over time? and what are the best available methods to study poverty dynamics? A variety of different techniques have been developed to tackle these questions, but unfortunately, they are presented in different forms and lack unified terminology. We offer a review of poverty imputation methods that address contexts ranging from completely missing and partially missing consumption data in cross‐sectional household surveys, to missing panel household data. We present the various existing methods under a common framework, with pedagogical discussion on their intuition. Empirical illustrations are provided using several rounds of household survey data from Vietnam. Furthermore, we also offer a practical guide with detailed instructions on computer programs that can be used to implement the reviewed techniques.     

Inverted breakeven analysis for profitable marketing decisions

This article develops a modified model of breakeven analysis which provides a viable conceptual tool to the industrial marketing management to determine in actual industrial marketing situations whether a given product should be produced and marketed by the supplier firm.     

Attitudes toward employee participation in decision-making: A comparison of european and american managers in a united states multinational company

This article examines an American multinational company to uncover any crossnational differences in managerial attitudes toward employee participation in decision-making. Human resource practices of the parent company toward its European subsidiaries were also examined, especially those relevant to employee participation issues. Data were collected from the company's manufacturing facilities in Britain, the Netherlands, Spain, and the United States. Managers were interviewed and then surveyed regarding their attitudes toward participation. The interviews revealed resistance to the parent company's efforts to “export” an American vision of employee participation to its European subsidiaries. The survey data revealed attitudinal differences among European managers as well as among their American counterparts. Possible explanations, implications for human resource executives and research directions are discussed. © 1993 by John Wiley & Sons, Inc.     

Evidence of feedback trading with Markov switching regimes

Previous research has concluded that the degree of return autocorrelation observed in index returns varies linearly with the volatility of the series, and that feedback traders are at least partly responsible for this phenomenon. Using daily Australian bond and equity market returns, we test this conclusion directly by using a Markov switching model for changing variance that explicitly allows the autocorrelation of returns to vary with the volatility regime. We find evidence that a significant proportion of investors in both the Australian equity and bond markets are positive feedback traders and are responsible for the observed increase in negative autocorrelation in index returns during periods of high and increasing volatility.

Determinants of Entry and Profits in Local Banking Markets

This paper estimates a two equation model of market entry and profits, utilizing data on entry into over 2,000 banking markets over the period 1977--88. The entry equations measure whether entry depends on incumbent firms' profits and other market attributes that reflect the long-term attractiveness of markets for entry. Market profits, assumed to follow a partial-adjustment process, are affected by entry directly and indirectly through market structure. The model also corrects for an unavoidable source of error in market-level profits for the banking industry. The estimates suggest that a competitive process is at work in banking markets that limits the ability of supra-normal profits to persist. Entry is more likely in markets that have high profits, consistent with previous empirical results that market structure adjusts more quickly when profits are supra-normal. Population and population growth are also strong determinants of entry. Entry, in turn, reduces profits in rural markets.