Reassessing employer expectations of graduates in UK travel services

This article sets out to ascertain travel and tourism industries employers' views on degrees. Research of this kind and on this scale has not previously been carried out and a large scale survey of industry views was conducted with key issues identified and discussed. These cover topics such as the employment of graduates within the UK travel services industry, views on their contribution and appropriateness, the types of skills that such degrees provide, salary scales and graduate training schemes. Current government policy on widening participation in higher education (HE) and its impact on industry skills is also evaluated. The issue of the provision of tourism curricula and their content has at the beginning of 2007 once again been pushed centre stage. This is as a result of the increasing scrutiny of the Sector Skills organisation People 1st and the launch of the government's new vocational diplomas in 2008. The findings in this article are pertinent for government bodies and educators alike and have previously been shared with the Sector Skills organisation and Department of Culture, Media and Sport (DCMS) in addressing HE in tourism. Copyright © 2008 John Wiley & Sons, Ltd.     

The knowledge of price and the price of knowledge

Social science is enmeshed from the outset in an interaction between individual agents, collective action and analytical response. The desire to implement policy and create a preferred outcome provides further complication. There is a fundamental confusion between knowledge in the system and knowledge about it. Classical market analysis divorces the two; in practice agents use both. Moreover, they use their knowledge to change the system. A given set of rules may therefore produce a variety of outcomes. Unless this phenomenon is better understood and analysed, policy-making will continue to produce unexpected and indeed undesired outcomes. Complex systems approaches offer a way forward into these issues which is beginning to bear fruit in thinking clearly about how systems can and should be analysed.     

Trade‐offs between Tax and Financial Reporting Benefits: Evidence from Purchase Price Allocations in Taxable Acquisitions

Under U.S. GAAP, firms recognize assets acquired in business combinations at fair value. Similarly, in taxable asset acquisitions firms adjust the tax basis of assets to fair value. Managers can increase the present value of future tax savings by allocating a greater portion of the purchase price to shorter‐lived assets than to goodwill or indefinite‐lived intangibles. However, this tax planning strategy imposes a financial reporting cost because it reduces book income following the acquisition; all else equal, allocations to shorter‐lived depreciable assets increase book depreciation expense, whereas allocations to goodwill and indefinite‐lived intangibles do not increase book amortization expense. We exploit the features of taxable asset acquisitions to investigate trade‐offs between tax and financial reporting incentives. We predict and find greater allocations to depreciable versus intangible assets when managers have strong tax incentives and weak financial reporting incentives. However, we also find that strong financial reporting incentives moderate the effects of strong tax incentives. These findings contribute new evidence to the literature on the importance of nontax costs in tax planning decisions     

Using IRS data to identify income shifting to foreign affiliates

Review of Accounting Studies - Income shifting is a significant source of tax planning for U.S. corporations. We use confidential Internal Revenue Service (IRS) data to develop a firm-year measure...     

Are we all on the same page? A qualitative study of the facilitation challenges associated with the implementation of deliberative priority-setting

Collaborative governance has given rise to decision-making methodologies promoting democracy, inclusivity and transparency. This is exemplified by deliberative priority-setting (DPS) that blends cost-effectiveness analysis with stakeholder deliberation. Little is known however, about the facilitation challenges when ‘technical’ and ‘social’ elements are combined in a methodology. This paper investigates the facilitation challenges of implementing a DPS project within the English National Health Service (NHS). Our study examines the relationship between facilitation and the effectiveness of DPS processes, highlighting the importance of knowledge management as facilitators seek to translate technical information, to enhance the deliberative experience and promote legitimate decisions.     

Tracking position premiums in discrete choice experiments

Eye-tracking was used to identify potential location ‘premiums’ in discrete choice experiments for certain positions in the computer screen in terms of increasing the visibility, general interest and attention of respondents. The search dynamics to choose the optimal alternative closely resembled the natural process of reading in a ‘Z’ motion going from left to right and top to bottom. An empirical application of water conservation showed that conservation practices in the production process were not statistically different than zero. On the other hand, respondents are interested in water conservation practices in their landscapes where they benefit directly from the sustainable practice.     

Distilling the reserve for uncertain tax positions: the revealing case of black liquor

We examine the extent to which management discretion affects the reserve for unrecognized tax benefits. We analyze the financial statement disclosures of 19 paper companies that received a total of $6.4 billion in refundable excise taxes during 2009. All of these companies included the refunds in financial income, but 14 excluded all or part of the refunds from taxable income. Despite the magnitude and unprecedented nature of the exclusion, we find that only five of the excluding firms accrued a full reserve for an uncertain tax position, three firms accrued a partial reserve, and six firms did not accrue any reserve. This variation suggests managers enjoy wide latitude in applying the more likely than not standard for determining additions to the reserve. Our findings suggest that financial statement users should exercise caution when comparing tax reserves across companies. In addition, we find some evidence that income-increasing tax accrual decisions are related to characteristics generally associated with weak corporate governance.     

A Review of Catastrophic Risks for Life Insurers

Catastrophic mortality events are characterized by a sudden and concentrated increase in mortality and as such present a major risk to life insurers. Such events include pandemics, war, natural disasters, terrorist attacks, and industrial, transport, and other accidents. Of these, pandemics arising from influenza are considered the most significant threat to the life insurance industry due to their capacity to cause a major increase in claims. We review the features and mortality implications of an influenza pandemic for life insurers, and describe a range of other risks that are likely to emerge as well.     

Company training in the United States 1970–2000: what have been the trends over time?

This study uses data from surveys of U.S. employees to determine whether any trends are apparent in the proportion who say they receive some form of training at work. Discussions of economic change in the U.S. and elsewhere have frequently asserted that work has become more intellectually demanding. This implies that training in workplaces should have become more prevalent. However, the survey data do not reveal any overall trend in the prevalence of workplace training between 1970 and 2000. There did appear to be a rising trend for women, evidently reflecting women's increased representation in professional and managerial occupations. Throughout this period, more highly educated workers are more likely to say they receive training at work.