Place attachment,host–tourist interactions,and residents’ attitudes towards tourism development: the case of Boa Vista Island in Cape Verde

A clear understanding of residents’ attitudes towards tourism development and its determinants is a crucial pillar for designing tourism development strategies to promote sustainable development. The literature on the influence of host–tourist interactions and place attachment on residents’ attitudes towards tourism development in developing countries is still scarce. To extend knowledge in this field, this study aims at developing and testing a structural model to examine direct and indirect causal effects of place attachment, host–tourist interaction, and perceived positive and negative tourism impacts on the residents’ attitudes towards tourism development in an island tourism destination – Boa Vista Island in Cape Verde. Results suggest that the residents’ attitudes are positively affected by place attachment, host–tourist interaction, and perceived positive impacts; and negatively affected by perceived negative impacts. Host–tourist interaction emerges as the strongest (direct and indirect) determinant of the residents’ attitudes towards tourism development. Moreover, although both positive and negative perceptions of tourism impacts have significant impacts on the residents’ attitudes, the influence of the former is stronger than that of the latter. The paper ends with relevant theoretical and practical implications to promote positive residents’ attitudes towards tourism development in Boa Vista.     

The empowerment expectation–perception gap: An examination of three alternative models

Previous empowerment research has focused on subordinate perceptions of empowering leadership and its outcomes. Met‐expectations theory suggests that subordinate expectations of leader behaviours are essential in forming their a posteriori evaluations. To address the lack of investigation of individual expectations in the empowerment literature, in this study, we explore how subordinates' empowerment expectations and perceptions combine to influence their job satisfaction and psychological empowerment based on three alternative, theoretically derived met‐expectation models, namely, the disconfirmation model, the ideal‐point model, and the experiences‐only model. The results of a 2‐stage study of 114 respondents indicate that employees are more satisfied with their work when perceived empowerment exceeds expectations. However, both empowerment perceptions and expectations positively contribute to higher psychological empowerment. We then discuss implications and directions for future research.     

Disappearing investment-cash flow sensitivities: Earnings have not become a worse proxy for cash flow

According to a recent conjecture in the literature, earnings have become a poorer proxy for cash flow from operations over time. We find that since 1988, when cash flow statements started to be consistently reported in Compustat, the cash effectiveness of earnings has actually increased for a large sample of US manufacturing firms. This occurs despite the introduction of fair value accounting and increasing accounting accruals during the last three decades. Also contrary to the conjecture, using more comprehensive measures of cash flow does not restore the investment-cash flow sensitivity, which continues to be around 0.05 in more recent periods.     

The Euro — A Tale of 20 Years: What Are the Priorities Going Forward?

Intereconomics - First, we need to recall the initial objectives set for the euro and how these have changed over time, notably due to the weaknesses that came to the fore throughout the recent...     

Small business owners and health

Small Business Economics - The present article identifies a societal and scholarly neglect for the field of small business ownership and health. We address health capital and its spillover effects...     

Going Through Hell: Increased Work Effort in the Aftermath of Terrorism in Norway*

I analyze how sickness‐absence behavior in Norwegian municipalities was affected by exposure to the terrorist attack in Norway in 2011. The main finding is that in municipalities from which a resident was killed in the attack, sickness absence declined by 4 percent compared with municipalities without victims. The effect is precise, stable, and persistent. The results do not seem to be driven by changing labor market composition. The effect is found also in neighboring municipalities and is larger for people close to the age of the victims.     

Machine learning for financial transaction classification across companies using character-level word embeddings of text fields

An important initial step in accounting is mapping financial transfers to the corresponding accounts. We devised machine-learning-based systems that automate this process. They use word embeddings with character-level features to process transaction texts. When considering 473 companies independently, our approach achieved an average top-1 accuracy of 80.50%, outperforming baselines that exclude the transaction texts or rely on a lexical bag-of-words text representation. We extended the approach to generalizes across companies and even across different corporate sectors. After standardization of the account structures and careful feature engineering, a single classifier trained on 44 companies from 28 sectors achieved a test accuracy of more than 80%. When trained on 43 companies and tested on the remaining one, the system achieved an average performance of 64.62%. This rate increased to nearly 70% when considering only the largest sector.     

Environmental Policy and GHG Emissions: The Case of Southern Europe

International Advances in Economic Research -     

Do measurement-related fair value disclosures affect information asymmetry?

Using a sample of European real estate firms over the 2007–2010 period, this study provides some evidence that measurement-related fair value disclosures reduce information asymmetry. We find a negative association between the extent of fair value disclosures and the bid-ask spread, but no association with two additional measures of information asymmetry (zero returns and price impact). Contrary to our expectation, we fail to find evidence that firms using model estimates exclusively benefit the most from such additional disclosure. Analysing measurement errors (the absolute difference between the selling price of an asset and its fair value prior to sale), we find that firms that use model estimates exclusively and provide more measurement-related disclosures have lower errors and more accurate fair value estimates. In other words, if our lack of results is due to investors not using this additional disclosure this is to their detriment.