The role of the tour operator in South America: Argentina,Chile, Paraguay and Uruguay

The role of the tour operator in the supply chain has focused traditionally on the dominant position of companies situated in the generating countries of Europe and North America; despite recognition of the tour operator located in emergent receiving countries, the area has not been discussed extensively. This paper investigates the opinions of 37 tour operators in four emerging countries in South America, with a view to evaluating the nature and level of contact with foreign tour operators and suppliers. It assesses the degree of internationalisation that occurs, and the extent to which tour operators are involved in the process of tourism development. The paper confirms the role of the receiving tour operator within the distribution chain, but concludes that in terms of stimulating tourism development there is a need for more research into the relationships between government and the wide range of organisations involved in the process. Copyright © 1999 John Wiley & Sons, Ltd.     

Narratives in managers’ corporate finance decisions

This article uses the extended case method to explore senior executives’ corporate finance decisions. We quantified firm’s finance practices using a mail survey, and then – to resolve puzzles in managers’ decision processes – conducted face‐to‐face interviews with chief finance officers of large listed firms. The interviews identified six themes as consistent influences on finance decisions: pressures imposed by clienteles; constraints on resources; risk management; heuristics; real options; and sustainability. We conclude that managers are logical and rational in their decisions, but employ a wider range of criteria than assumed in conventional finance theories.     

Segmenting the contours: Australian economic growth 1828–1913

The statistical properties of Australian GDP estimates are used to investigate discontinuities in economic growth between 1828 and 1913. Australian GDP appears to follow a segmented trend stationary process, with discontinuities around 1851 and 1891. The results are used to shed light on the impact of the 1851 gold discoveries and the 1890s depression on Australian economic development.     

Biotechnology regulation as symbolic normalization

In the “risk” controversy around agricultural biotechnology, at stake is the legitimay of this innovation, particularly the release of genetically modified organisms (GMOs). It has faced potential obstacles to R&D and an eventual market for products. In response, risk management institutions have been designed to anticipate hypothetical hazards; to overcome the perceived abnonnalip of GMOs; to avoid political protest; and to standardize safety criteria. In the UK and its EC framework, process-based legislation has had a precautionay content, designed to consider a broad range of ecological uncertainties which could be translated into technical evidence of safety. Given that all stages of risk management entail environmental value judgements, its procedures bear some potential for greater public involvement. Since process-based replation was enacted in 1990, industy has attacked it for hindering the commercial competitiveness of the European biotechnology industy. This attack more likely aims to limit the precautionay content, to normalize GMOs, and to preclude democratizing risk assessrnen—though at the risk ofjeopardizing its public credibilip. These dilemmas o f risk management arise from its implicit role in legitimizing a contentious form of techno-scientific progress.     

EXPLAINING THE UNITED STATES' INDUSTRIAL GROWTH, 1860–1991: ENDOGENOUS VERSUS EXOGENOUS MODELS

This paper considers the historical record and time series properties of United States' industrial production for the period 1860 to 1991, utilizing unit root tests and measures of persistence. The results identify a segmented trend model which is used to assess the time-series simulation performance of four well-known models of economic growth: Solow (1957); Mankiw, Romer and Weil (MRW, 1992); Barro and Sala i Martin (BSM, 1992); and Rebelo (1991). Both the MRW and BSM models dominate the Solow model in accounting for twentieth century industrial growth, highlighting the importance of human capital, and the paper suggests a new measure related to higher education. However, the Rebelo model explains the post-1973 slowdown more successfully than either of the 'augmented-Solow' approaches. The paper concludes with a discussion of the impact of shocks on US industrial growth.     

INFORMATION AND THE FARMER IN SOUTHERN SASKATCHEWAN1

Today's successful farmer needs up-to-date, accurate information on countless subjects. Finding more effective ways to get information from agricultural researchers to farmers is more important now than it ever has been. This study determined where farmers in two southern Saskatchewan municipalities got information about new grain varieties, new chemicals and other innovations. Because the study is based on a sample area typical of farm communities across southern Saskatchewan, the findings are relevant to this entire grain growing region. Results are that while information sources such as the Agricultural Representative and extension services were useful, they did not have nearly enough contact with farmers. On the other hand, information sources such as the elevator agent, registered seed grower, farm press and radio had a great deal of contact with farmers, but did not distribute nearly as much information as they could. These findings indicate an immediate need for a more cooperative farm information program in Western Canada. L'INFORMATION ET LES FERMIERS DU SUD DE LA SASKATCHEWAN– Aujourd'hui le fermier progressif a besoin d'une information a la page et objective sur nombreux sujets. Chercher des moyens plus efficaces de faire parvenir ['information des chercheurs aux fermicrs est plus important que jamais. Cette étude indique I'endroit où les fermiers de deux municipalités du Sud de la Saskatchewan ont obtenu I'information concernant de nouvelles variétés de grain, de nouveaux produits chimiques et d'autres innovations. Du fail que l'étude est basée sur un endroit représentatif de communautés rurales du Sud de la Saskatchewan, les résultats sont valables pour toute cette région de production de grain. Les conclusions indiquent que, en dépit du fait que les sources d'information comme I'agronome de comté et le service de vulgarisation sont utiles, ces dernières ne retiennent cependant pas beaucoup I'attention des fermiers. Elks soulignent également le fait que les sources d'information telles que I'agent de compagnie de grain, le producteur de semence, la presse et la radio agricole tout en maintenant un lien etroit avec les fermiers ne distribuent pas toute I'information qu'ils pourraient fournir. Ces résultats soulignent le besoin immediat d'un plan d'information mieux coordonné pour les fermiers de I'Ouest du Canada.