Natural disaster and destination management: the case of the Caribbean and hurricane Irma

This current issue in the Caribbean raises the topic of destination management and more particularly the importance of considering natural phenomenon when planning and developing a tourism product. The impacts of Irma on some Caribbean islands such as Saint-Barthelemy, Saint-Martin, Barbuda and Anguilla show that hurricanes are major risks for the tourism industry of the islands. This risk could be said to be absolute in the Caribbean but the negative impacts can be mitigated by appropriate strategies. To some extent, natural disasters provide tabularaza that give destinations opportunities to reinvent themselves sustainability.     

“100% EDI-connected suppliers” projects: An empirical investigation of success factors

Electronic Data Interchange (EDI) is becoming increasingly important, and new organizational forms based on EDI suppliers’ capabilities are emerging. Therefore, taking advantage of recent technological changes, especially the development of Web-based EDI systems, many big industrial buyers are seeking to get all their suppliers EDI-connected. Based on previous research on EDI adoption, we conducted a survey to study the opportunities of success of such a “100% EDI-connected suppliers” policy using data from the vehicle industry. Findings from our survey helped us to understand suppliers’ responses to such a policy and to provide recommendations to industrial buyers who are seeking to succeed in a “100% EDI-connected suppliers” project. This includes employing tailored communication strategies and selecting appropriate incentives that take into account different levels of suppliers’ EDI-capabilities and suppliers’ dependence.     

How well do classical credit risk pricing models fit swap transaction data?

Currency and interest rate swaps are subject to a complex, two-sided default risk. Several theoretical papers have recently addressed the problem of pricing this swap credit risk. We implement a recent credit risk pricing model in an attempt to evaluate one of the main lines of research in theoretical credit risk analysis. We compare the model's analytical results to actual transaction data thanks to a unique academic database on swap transaction data.     

Market liquidity as dynamic factors

We use recent results on the Generalized Dynamic Factor Model (GDFM) with block structure to provide a data-driven definition of unobservable market liquidity and to assess the complementarity of two observed liquidity measures: daily close relative spreads and daily traded volumes for a sample of 426 S&P500 constituents recorded over the years 2004-2006. The advantage of defining market liquidity as a dynamic factor is that, contrary to other definitions, it tackles time dependence and commonness at the same time, without making any restrictive assumptions. Both relative spread and volume in the dataset under study appear to be driven by the same one-dimensional common shocks, which therefore naturally qualify as the unobservable market liquidity shocks.     

Proposed framework for the management of resorts Mini Clubs: an ambidextrous approach

ABSTRACT

Drawing on ambidextrous approaches to management, this study has found that Mini Clubs, whilst predominantly adopting an exploitative approach, need to redesign their services to enhance children’s experiences but also to contribute to the resorts’ competitive edge. The study suggests that a two-step strategy needs to be implemented by leisure organisations, namely an increased complexity strategy and an increased divergence strategy, which would make a strategic shift to a more exploratory approach and therefore ambidextrous management and marketing practices. Management initiatives are proposed and discussed in relation to key global trends influencing the leisure and hospitality sector. The paper represents the first endeavour to examine the management of resort Mini Clubs, proposes to fill a gap in the literature aimed to recognise the increasing role of children activities in the leisure and hospitality sector, and contributes to the study of ambidextrous management in leisure research.     

The evolution of the geographical concentration of tertiary sector activities in Europe

The purpose of this article is to measure the concentration of tertiary activities in Europe. Usually, these sectors are depicted as ‘invisible goods’ by international economics theories. However, the expansion of the tertiary sector in developed economies, liberalisation and an increasing number of studies argue that services have a serious influence upon the economy, most notably in the field of economic geography. This study measures the concentration of tertiary sector activities, breaking this field down into 21 distinct sectors. This research shows that Knowledge Intensive Business Services are highly concentrated, and are becoming even more so. This result points towards the desirability of explicitly including these activities in New Economic Geography models.     

A Brief Methodological Guide to Scenario Building

This brief guide reviews the philosophical underpinnings of the prospective procedure then strives to explain the concepts and characteristics of this “intellectual undiscipline” which aims not to predict but rather to help shape the future. La prospective contributes to our efforts to gain foresight, an indispensable quality for anyone who wants to be an actor in a future yet to be created. The various stages of the procedure are presented, in particular the scenario method as applied by the author in local, national, and international futures projects for subjects as varied as aging populations, retirement in industrialized countries, and the impact of new technology on production.     

Changes in Quebec Cropping Practices in Response to a Carbon Offset Market: A Simulation*

This paper investigates the response of the Quebec cropping sector to the introduction of carbon credit revenue made available through the implementation of a domestic emission trading and offset system in Canada. Eligible carbon sequestering practices investigated include adoption of moderate tillage and no‐till as well as conversion to a permanent cover crop. Monetary demand for greenhouse gas emissions offsets from the cropping sector is endogenized in the objective function of the Canadian Regional Agriculture Model (CRAM). Changes in cropping sector practices induced by the introduction of carbon prices ranging from $5 to $50 per tonne CO₂e are compared to a baseline. Results indicate that almost all of the potential to sequester carbon in agricultural soils in Quebec would lie in the conversion to permanent cover. Le présent article a examiné la réaction du secteur des cultures du Québec à l'introduction de revenus qui proviendraient de la vente de crédits carbone à la suite de la mise en place de systèmes d'échange de droits d'émissions et de compensations pour les gaz à effet de serre (GES) au Canada. Les pratiques de séquestration du carbone admissibles analysées comprenaient le travail réduit du sol, le semis direct et l'établissement d'une couverture végétale permanente. La demande monétaire pour l'obtention de crédits compensatoires de la part du secteur des cultures a été endogénéisée dans la fonction‐objective du modèle d'analyse régionale de l'agriculture du Canada (CRAM). Les modifications de pratiques du secteur des cultures suscitées par l'introduction de prix du carbone, variant entre 5 $ et 50 $ la tonne d'équivalent‐CO₂, ont été comparées à une base de référence. Les résultats ont montré que la quasi‐totalité du potentiel des sols agricoles du Québec à séquestrer le carbone réside dans l'établissement de couvertures végétales permanentes.