The antecedents of digital collaboration through an enhanced digital platform for destination management: A micro-DMO perspective

While the tourism sector shifts towards digital transformation, Destination Management Organisations (DMOs) often struggle to adapt to their changing technological environment. This study explores the antecedents of digital collaboration and develops a framework for micro-DMOs to enhance effective destination management through digital technologies. An integrated sequential qualitative approach was adopted by conducting multi-phase interviews, in addition to designing and trialling a real-world trial digital platform. The research provides empirical evidence that digital collaboration is essential for micro-DMOs, necessitating them to transform their current “websites” into digital platforms which act as a hub for business stakeholders to actively be involved in. Antecedents of successful digital collaboration include mutuality, trust, control, and leadership which may be manifested differently from non-digital collaboration. Additionally, the study identifies three aspects for digital collaboration; marketing, networking and knowledge sharing that demands specific attention. Our results have theoretical, methodological, and practical implications for academia, industry and policymakers.     

Toward a new business model of retail industry: The role of brand experience and brand authenticity

While the customer-to-manufacturer (C2M) business model has received increasing attention as a new business model for e-commerce and retail industry, little is still known about it and the effect of its approach. This study aims to understand how brand-related stimuli in C2M environments affect customer responses as the worldwide COVID-19 pandemic. The outcomes reveal that the Sensory, affective, and intellectual aspects of brand experience positively influence brand authenticity. Brand authenticity has a positive effect on behavioral intention, such as reuse intention and word-of-mouth. Additionally, this research finds that social presence moderates the association between the sensory aspect of brand experience. Thus, this study can suggest a C2M business model as a means of sustainable operation of the retail industry to both researchers and practitioners in relation to the retail industry.     

Digital marketing communication in global marketplaces: A review of extant research,future directions,and potential approaches

Digital marketing communication, that is, communication through digital or electronic media among businesses and consumers, is growing rapidly, especially during the COVID-19 era. We propose a framework for analyzing digital marketing communication along four major dyads, business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C), and consumer-to-business (C2B). We review and summarize, for researchers and practitioners, the literature during 2000–2021 in these dyads along four major components: goals; channels, media, and platforms; content; and responses. We find that extant research in digital marketing communication pertains mostly to a specific, national level rather than a global level, despite the porousness of national boundaries for digital marketing. We derive important insights, identify key research gaps and questions in each of the dyads along these dimensions. We suggest approaches to address these research questions under three major components: substantive issues, data, and methods. These approaches can offer the insights that managers need to better formulate digital marketing strategies in local and global contexts.     

The Bullionist Controversy: Theory and New Evidence

The Bullionist Controversy in the United Kingdom is one of the first debates about the determination of the price level and the exchange rate under a paper money standard. Despite the importance of the debate in the development of monetary theory, there remains little empirical evidence that uses modern, multivariate time series techniques. The evidence that does exist provides support for the Anti‐Bullionist position. The purpose of this paper is to review the debate and develop a dynamic general equilibrium model that is capable of capturing key features of the nineteenth‐century British financial system. The model is estimated using Bayesian procedures to test the competing hypotheses. The paper provides support for the Bullionist position.     

Debt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption

Using a novel data set for the U.S. states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of U.S. consumption since 2007 in the aftermath of the housing bubble. By separating the concepts of deleveraging and debt overhang—a flow and a stock effect—we find that excessive indebtedness exerted a meaningful drag on consumption over and beyond wealth and income effects. The overall effect, however, is modest—‐around one sixth of the slowdown in consumption between 2000–06 and 2007–12—and mostly driven by states with particularly large imbalances in their household sector. This might be indicative of non‐linearities, whereby indebtedness begins to bite only when misalignments from sustainable debt dynamics become excessive.     

The influence of school size,principal characteristics and school management practices on educational performance: An efficiency analysis of Italian students attending middle schools

The aim of the paper is to identify which among the aspects that relate to the composition of the student body, school (district) size, management practices and the school principals' own characteristics are associated with the performance of Italian students at grade 8, measured through standardised test scores in reading and mathematics. The analysis makes use of a student-level efficiency model, and several school level variables are included as explanators for efficiency scores. The results show that, especially for reading, the most influential variables relate to the composition of the student body, while the students' performance in mathematics is partly correlated with the management practices adopted by the school principal/head teacher. Schools and schooling can only explain a minor part of the variance in achievement scores, however, and the characteristics of the students themselves play the most significant role.     

STOCK‐BOND CO‐MOVEMENTS AND FLIGHT‐TO‐QUALITY IN G7 COUNTRIES: A TIME‐FREQUENCY ANALYSIS

This paper examines co‐movement between stock returns and changes in 10‐year government bond yields as well as flight‐to‐quality behaviour in G7 countries. We conduct the wavelet squared coherence analysis to explore the dynamics in both time and frequency domain. Our results provide evidence of positive co‐movements, which vary over time and across investment horizon. The higher co‐movement is found to be more concentrated in the lower frequency bands. We further analyse the dynamic nature of the scale‐dependent wavelet correlations and find that the correlations are highly volatile and significantly increase across different time scales during the episodes of equity market turbulence. The increase in correlations reflects flights from stocks to safer bond investments as a result of dramatic changes in investor sentiment and risk aversion at times of market stress.     

Consistent inference in fixed-effects stochastic frontier models

The classical stochastic frontier panel data models provide no mechanism to disentangle individual time invariant unobserved heterogeneity from inefficiency. Greene (2005a, b) proposed the so-called “true” fixed-effects specification that distinguishes these two latent components. However, due to the incidental parameters problem, his maximum likelihood estimator may lead to biased variance estimates. We propose two alternative estimators that achieve consistency for $n\to \infty$ with fixed $T$. Furthermore, we extend the Chen et al. (2014) results providing a feasible estimator when the inefficiency is heteroskedastic and follows a first-order autoregressive process. We investigate the behavior of the proposed estimators through Monte Carlo simulations showing good finite sample properties, especially in small samples. An application to hospitals’ technical efficiency illustrates the usefulness of the new approach.     

Effects of scale economies and production seasonality on optimal hub locations: the case of regional fresh produce aggregation

Interest in supporting local and regional food systems is rising and food hubs have attracted considerable attention among Federal, State, and local policymakers. This study explores the problem of endogenous hub location in fresh produce value chains in the Northeastern United States. To overcome limitations in the literature, we incorporate the effects of economies of scale and production seasonality into our models. Three experimental models are designed to examine the effects of alternatively applying yearly, quarterly, and monthly data on model solutions. We explicitly assess how interactions of scale economies and seasonality influence the structure and spatial attributes of an optimal regional produce aggregation hub system. The three models generate marketed different solutions and in many respects they lead to different conclusions about developing local/regional supply chains. The monthly model allows for production seasonality and actual hub operation cycle frequency and thus leads to more efficient hub solution with rich policy implications.