A study on motivation differences among traditional festival visitors based on demographic characteristics,case study: Gol-Ghaltan festival,Iran

Villages and cities have a growing tendency to share their culture and nature with tourists by developing events. This article aims to identify motivational factors influencing visitors' attendance in traditional festivals and then analyzing significant motivation differences among visitors based on their demographic differences. The statistical sample is domestic tourists who visited the 8th Gol-Ghaltan Festival, Iran in 2015. The convenience sampling method has been used and 287 acceptable questionnaires were acquired. Factor analysis has determined six important motivational factors, including “Gol-Ghaltan and Family,” “Cultural Exploration,” “Socialization,” “Supporting Local Community and Heritage,” “Event Novelty,” and “Escape.” Most of these factors are coinciding with previous literature on cultural events except first and fourth factors. Results of T-test and ANOVA show that visitors in various demographic groups have significant differences in the motivational factors. Finally, in accordance with the findings of the research, practical suggestions are presented for managers and marketers of this event.     

Does Bank Diversification Improve Output Growth? Evidence from the Recent Global Crisis

This study examines whether the diversity of activities conducted by the banking sector in the years approaching the recent global financial crisis alleviated the adverse impact of the crisis. Using data for 28 industries in 66 countries, we find that bank diversification has strengthened country resilience to the crisis, as measured by industry growth over the period 2008–2009. However, we find that while both bank‐based and market‐based economies have been affected negatively by the crisis, the contribution of bank diversification in mitigating the real impact of the crisis is pronounced only in bank‐based economies. Overall, our findings suggest that countries with significant bank diversification have also been the most resilient to the recent global crisis.     

Optimal contracting with dynastic altruism: Family size and per capita consumption

We use a Barro–Becker model of endogenous fertility, in which parents are subject to idiosyncratic shocks that are private information (either to labor productivity or taste for leisure), to study the efficient degree of consumption inequality in the long run. The planner uses the trade-off between family size and future consumption and leisure, to provide incentives for workers to reveal their shocks. We show that in this environment, the optimal dynamic contract no longer features immiseration in consumption. We also discuss the implications of the model on the long run properties of family size in the optimal contract and show that the long run trend in dynasty size can be either positive or negative depending on parameters.     

Does market structure matter on banks’ profitability and stability? Emerging vs. advanced economies

We empirically investigate the effects of market structure on profitability and stability for 1929 banks in 40 emerging and advanced economies over 1999–2008 by incorporating the traditional structure-conduct-performance (SCP) and relative-market-power (RMP) hypotheses. We observe that a greater market share leads to higher bank profitability being biased toward the RMP hypothesis in advanced economies, yet neither of the hypotheses is supported for profitability in emerging economies. The SCP appears to exert a destabilising effect on advanced banks, suggesting that a more concentrated banking system may be vulnerable to financial instability, however, the RMP seems to perform a stabilising effect in both economies. Evidence also highlights that profitability and stability increase with an increased interest-margin revenues in a less competitive environment for emerging markets. Overall, these results suggest that although policy measures to promote competition may dampen economic rent, excessive implementation may have an undesired destabilising impact on banks.     

The impact of bank competition and concentration on industrial growth

This paper studies whether bank competition affects growth of non-banking industries. We find that non-cooperative bank competition and stability promote industrial growth robustly. Bank concentration may also affect growth positively; the latter effect increases for higher levels of competition.