‘Post‐Third‐World City' or Neoliberal ‘City of Exception'? Rio de Janeiro in the Olympic Era

This article considers processes of urban development within the context of mega‐event preparations in Rio de Janeiro. We begin with a brief overview of these development processes, highlighting their connections to political and economic change in recent years. Proponents of these mega‐event‐led initiatives argue that Rio is undergoing a period of inclusive growth and integration: a perspective we call here a ‘post‐Third‐World city' narrative of urban renewal. Critics, however, contend that urban officials are harnessing mega‐events (e.g. the 2014 World Cup and the 2016 Olympic Games) to push forward a neoliberal agenda of socially unjust policies benefiting the interests of capital and marginalizing the city's poor and especially its favelas (i.e. the ‘city‐of‐exception' thesis). In this article we explore the insights of these two perspectives and consider why they have grown popular in recent years. Though we side generally with the city‐of‐exception thesis, we argue that important geographic and historical particularities must also be accounted for. Without carefully situating analytical perspectives empirically—in particular, cases in which theoretical models are drawn from European and North American contexts—urban researchers risk concealing more than they reveal in analyses of rapidly developing countries like Brazil.     

Economic consequences of intifada

In 2003 the World Bank (WB) and the International Monetary Fund (IMF) published estimates of macro-economic indicators for 2002 of the economy of Palestine. The WB used a micro-founded recursive dynamic computable general equilibrium (CGE) model, calibrated on the 1998 Social Accounting Matrix (SAM) of Palestine, to which shocks were applied, whereas the IMF based its estimates on a macro-founded income-expenditure model relying on more recent data. It turned out that there were substantial differences: the estimate by the WB of the real gross national income (at 1998 prices) was 25% less than the corresponding figure calculated by the IMF. This huge difference is not only relevant for a full understanding of the economic consequences of the intifada, but also for the size of the international community intervention. In this paper we propose our own evaluation with the help of a static CGE model, based on the 1998 SAM and the so-called intifada shock derived from data of the WB that we constructed for the analysis of some forms of emergency assistance in a previous article. It turns out that our estimates, based on an entirely different methodology, are remarkably close to those of the IMF.     

The Olympic Effect: Employee Reactions to Their Employer's Sponsorship of a High‐Profile Global Sporting Event

With companies investing vast sums of money on sponsoring high‐profile sports events, it is surprising that very little research exists to examine the possible impact that this has on the sponsors’ employees. This two‐wave panel study explores the indirect role that Olympic sponsorship and employee support for this sponsorship has on increases in organizational identification and discretionary effort—via, that is, pride and employee assessments of their employer's corporate social responsibility (CSR) credentials. The current study surveyed 241 employees (from three countries) in two phases across a 12‐month period in the run‐up to the 2012 London Olympics. Olympic sponsorship support was found to be positively associated with organizational pride and CSR perceptions, which both predict increases in organizational identification and discretionary effort (controlling for earlier baseline levels of these outcomes). In addition, there is also evidence of an indirect positive effect (through CSR perceptions and pride) of Olympic sponsorship support on increases in organizational identification and discretionary effort. The implications of these findings for decision makers considering sponsoring major sporting events are discussed; the findings provide interesting insights that can help HR functions to understand the consequences of sports sponsorship and processes involved that explain positive employee responses. © 2015 Wiley Periodicals, Inc.     

The Multijurisdictional Disclosure System and Value of Equity Offerings

The Canada and US multijurisdictional disclosure system (MJDS) implemented in 1991 lowered the indirect barriers for investors and issuers by easing reporting and disclosure requirements for cross‐border issues. This paper examines the impact of the MJDS and related regulatory changes on Canada–US equity market segmentation using a sample of Canadian seasoned equity offerings in the 1991–1998 period. We find that the number of cross‐border issues by Canadian firms increased, and the typical negative stock price reaction that accompanies seasoned equity issues declined over time, supporting increased integration between the two markets after the MJDS. We also document that cross‐border issues experience about 1.4 per cent lower negative stock price reaction compared with domestic issues, consistent with Canada–US market segmentation. We find mixed support for Merton's (1987) investor recognition hypothesis. While Canadian firms cross‐listed in the US experience a less adverse price reaction to their cross‐border offerings compared with their non‐US‐listed peers, there is no significant difference between the two groups in the case of purely domestic issues.     

THE FINANCIAL REPRESSION‐LIBERALIZATION DEBATE: TAKING STOCK,LOOKING FOR A SYNTHESIS

Financial repression and liberalization became the object of fierce debates between academics and policy makers since the early 1970s. As of the late 1980s, financial liberalization became also part of the ‘Structural Adjustment Programs’ sponsored by the International Monetary Fund and the World Bank. However, the literature on financial repression and liberalization remains controversial on its theoretical conclusions and policy implications. Given its importance for both the theory and policy of economic development and growth, this paper looks for a possible synthesis. After reviewing the theoretical contributions and empirical studies under the headings of the McKinnon–Shaw and new structuralists models, the survey concludes that a new synthesis might be found in the Post‐Keynesian attempt to take an institutional perspective within a globalised financial and economic environment.     

Urban Climatology Applied to Urban Planning: A Postwar Knowledge Circulation Failure

The article discusses an instance of knowledge that failed to circulate — the application of urban climatology in town planning. This field of applied science was systematized in German‐speaking universities and cities and remains most firmly established in North‐Central Europe. In the decades after the second world war successive commissions and study groups of the World Meteorological Organization, the International Federation of Housing and Planning, the Confédération Internationale du Bâtiment and the International Society for Biometeorology sought to spread awareness of climatological factors among planners and architects worldwide. The article examines the organizations and individuals involved in this campaign, describes their meetings, publications and outreach, and assesses the disappointing impact. The legacy of this failure is considered in the context of present‐day interest in planning for carbon mitigation and climate‐change adaptation.     

Government advertising and the creation of national myths: the Canadian case

Government advertising in Canada has a long history and has been an important adjunct in fostering values of national unity. This paper examines several significant campaigns: early 20th century immigration advertising, patriation of the Canadian constitution in the 1980s and, more recently, Olympic advertising in 1998. It attempts to demonstrate that the use of state advertising in Canada is unique in helping foster a view of Canadian citizenship and the development of national myths. Moreover, advertising in Canada has been a way to respond to the claims of a vocal sub‐minority. Copyright © 2003 Henry Stewart Publications     

Acquirer Characteristics and Method of Payment: Evidence from Chinese Mergers and Acquisitions

This study examines the effects of acquirer characteristics on method of payment of Chinese acquirers on the basis of a sample of 1370 mergers and acquisitions that occurred between 1998 and 2008. Using both buy and hold abnormal returns and calendar time abnormal returns approaches, we find that Chinese acquirers experience pre‐acquisition abnormal returns ranging from 14.29% to 121% over the period of 12–36 months prior to the acquisition relative to three different portfolio benchmarks. In the pre‐bid period, acquisitions financed by shares outperform acquisitions financed by cash. However, in the post‐acquisition period, we document no significant difference between cash‐financed and equity‐financed acquisitions. The study also finds that acquirer market value, Tobin's Q, state ownership and leverage have significant effects on the method of payment. Copyright © 2013 John Wiley & Sons, Ltd.     

Video-based pedestrian grouping model considering long-span space in a big hall

Pedestrian group detection is a challenging but significant issue in pedestrian flow control and public safety management. To address the issue that most conventional pedestrian grouping models (PGMs) can only identify a pedestrian group at a limited distance of less than 2 m, this study extended the pedestrian distance constraint of conventional PGMs with a reconstruction of the normal group detection criterion and development of a novel group detection criterion suitable for long-span space. To measure the movement behavior similarity with normal distance, five necessary constraints: velocity difference, moving direction offset, distance limitation, distance fluctuation, and group-keeping duration were studied quantitatively to form the criterion to detect normal groups. Meanwhile, a long-span group detection criterion was proposed with extended distance and direction consistency constraints. Therefore, this study proposed an improved PGM that considers long-span spaces (PGMLS). In the PGMLS workflow, the MMTrack algorithm was used to obtain pedestrian trajectories. A difference measurement method based on sequential pattern analysis (SPA) was adopted to analyze the velocity similarity of pedestrians. To validate the proposed grouping model, experiments based on pedestrian movement videos in the exit hall of the Shanghai Hongqiao International Airport were conducted. The results indicate that the proposed model can detect both normal and widely separated pedestrian groups, with a long span range of 2–12 m.     

Rent extraction,principal–agent relationships,and pricing strategies: vendor licensing during the 1996 Olympic Games in Atlanta

Two‐part pricing, price‐discrimination, rent creation and extraction, principal–agent theory, and public choice perspectives on public bureaucracies are used to interpret a vendor‐license marketing arrangement and controversy arising out of the 1996 Olympic Games in Atlanta, GA. Containing features predicted by principal–agency theory, Atlanta's arrangement with its marketing agent was a response to the behavior of public bureaucracies and a low cost method of converting visitors' consumer surplus to rent, which could be extracted by the marketing agent and then by Atlanta. Atlanta's incentive to enforce vendor property rights was influenced by the nature of the game between Atlanta and prospective vendors. Copyright © 2001 John Wiley & Sons, Ltd.     

中外优秀1500m自由泳运动员参赛速度分配模式的研究

1500m自由泳是游泳比赛中距离最长的项目,运动员的参赛速度分配模式对最终成绩有重要意义。通过对三大中、外赛事男子1500m自由泳决赛运动员参赛各分段成绩的收集、分析,在揭示优秀1500m自由泳运动员参赛速度分配模式的同时,探寻中外运动员参赛配速模式的差异。研究发现中外运动员参赛速度分配模式存在一定差异:中国运动员参赛速配模式为前快后慢的1-3型;世界优秀运动员则普遍为前慢后快的3-2型。     

QMS导入世界特殊奥运会及其实践初探

世界特殊奥运会将于2007年首次在中国、在上海举办,为了保证本届特殊奥运会的成功举办,需要建立一套特殊奥运会质量管理标准,对特殊奥运会服务过程各个关键环节实施质量管理和控制。本文从特殊奥运会流程分析入手,确定特殊奥运会服务管理内容和关键服务流程,然后应用相关矩阵法对关键流程进行二级展开和重要度排序,据此识别特殊奥运会服务关键控制点,并总结出关键控制点识别的6项原则。针对服务关键控制点所体现的质量特性,提出相应管理措施。     

Adjusting for Non‐Response in Population‐Based Case‐Control Studies

In this paper we discuss the analysis of data from population‐based case‐control studies when there is appreciable non‐response. We develop a class of estimating equations that are relatively easy to implement. For some important special cases, we also provide efficient semi‐parametric maximum‐likelihood methods. We compare the methods in a simulation study based on data from the Women's Cardiovascular Health Study discussed in Arbogast et al. (Estimating incidence rates from population‐based case‐control studies in the presence of non‐respondents, Biometrical Journal 44, 227–239, 2002).     

The Development of Corporate Charitable Contributions in the UK: A Stakeholder Analysis

This paper investigates the determinants of corporate charitable donations within a comparative study of corporate behaviour in two time periods, 1989–90 and 1998–99. The analysis is based on a longitudinal data set that includes over 400 UK listed companies. The determinants of corporate charitable donations are explored within a stakeholder model and the relationship between corporate charitable donations and a set of firm and industry variables is estimated using OLS. Particular emphasis is placed on industry effects and the impact of social and environmental stakeholders. The results highlight a significant change in behaviour between 1989–90 and 1998–99 that may reflect a strategic response by corporate decision‐makers to external concerns over corporate social responsibility. In the early period corporate charitable donations were substantially determined by profits. However, this relationship has weakened during the 1990s as firms have become increasingly responsive to stakeholder influences. The results for the later period emphasize the increasing importance of corporate visibility, and the development of social and environmental influences on corporate charitable contributions.     

Dickey–Fuller Type of Tests against Nonlinear Dynamic Models*

In this paper, we introduce several test statistics testing the null hypothesis of a random walk (with or without drift) against models that accommodate a smooth nonlinear shift in the level, the dynamic structure and the trend. We derive analytical limiting distributions for all the tests. The power performance of the tests is compared with that of the unit‐root tests by Phillips and Perron [Biometrika (1988), Vol. 75, pp. 335–346], and Leybourne, Newbold and Vougas [Journal of Time Series Analysis (1998), Vol. 19, pp. 83–97]. In the presence of a gradual change in the deterministics and in the dynamics, our tests are superior in terms of power.     

Analysts' Forecasts in Asian-Pacific Markets: The Relationship among Macroeconomic Factors, Accounting Systems, Bias and Accuracy

In this study, we describe determinants of accuracy/bias of analysts' forecasts in 13 economies of the Asian‐Pacific region. Examination of the accuracy of analysts' earnings forecasts allows us to judge how accounting systems and macroeconomic distinctions in this region affect earnings predictability. As many investors rely on analysts' earnings forecasts instead of producing their own, the growth of international investment means forecasts in non‐US markets will become increasingly important to investors worldwide. Using a sample of firms with data available on Global Vantage and I/B/E/S International, we find that the analysts on average have a pessimistic bias in Asian‐Pacific markets. We examine whether macroeconomic factors explain part of the difference in the size of analyst forecast errors, using the global competitiveness rankings of the World Economic Forum (WEF). We expect that those nations which are more open to foreign trade and investment and are ranked more highly by the WEF in its Global Competitiveness Index will also have more accurate analyst forecasts, as increased global competitiveness demands greater integration into the world economy, and such integration should lead to more transparent financial statements and more accurate earnings forecasts. Our findings are consistent with this prediction. We also find that countries with low book‐tax conformity have more accurate earnings forecasts.     

Information and communication technology adoption and unemployment in West Africa Monetary Zone

This study examined the impact of information and communication technology (ICT) on unemployment among the countries in West Africa Monetary Zones (WAMZ) for the period 2005–2020. The study engaged the data sourced from World Bank Development Indicators (WDI), International labour organisation (ILO) and International Telecommunication Union (ITU). The study estimated the fixed and random effect models and pooled mean group estimators. The results indicate a negative and significant effect of ICT adoption on unemployment among countries of WAMZ. On the other hand, the magnitude of the effects differs, depending on the indicator of ICT being examined.     

Impact of Ownership Type on Environment–Strategy Linkage and Performance: Evidence from a Transitional Economy

In this study I contend that the ownership type has a significant impact on the environment–strategy configurations amongst different firms in a transitional economy. The influence of ownership type on the environment–strategy configuration is tested, based on an analysis of surveys of 201 managers from four types of companies in China: state‐owned, collectively‐owned, privately‐owned, and foreign joint ventures. Results support the central notion that each ownership type exhibits a distinct environment–strategy configuration, which in turn has important performance implications for the firms.     

A unified approach to standardized‐residuals‐based correlation tests for GARCH‐type models

In this paper, we propose a unified approach to generating standardized‐residuals‐based correlation tests for checking GARCH‐type models. This approach is valid in the presence of estimation uncertainty, is robust to various standardized error distributions, and is applicable to testing various types of misspecifications. By using this approach, we also propose a class of power‐transformed‐series (PTS) correlation tests that provides certain robustifications and power extensions to the Box–Pierce, McLeod–Li, Li–Mak, and Berkes–Horváth–Kokoszka tests in diagnosing GARCH‐type models. Our simulation and empirical example show that the PTS correlation tests outperform these existing autocorrelation tests in financial time series analysis. Copyright © 2008 John Wiley & Sons, Ltd.     

Adoption of cleaner technology for climate proactivity: a technology–firm–stakeholder framework

The adoption of cleaner technology (CT) has the potential to play an important role in tackling the impacts of business on climate change on business. It is therefore important to understand the factors motivating the adoption of CT in business. Using a technology–firm–stakeholder framework, this study proposes a perception‐based model for the adoption of CT for climate proactivity that is tested against data collected from 106 firms in India. Six factors are tested using a logistic regression and five are found to be significant in distinguishing adopter firms from non‐adopter firms. The results suggest that the perception‐based model using a technology–firm–stakeholder framework is a useful approach for examining factors affecting the adoption decision. While techno‐economic benefits are perceived to be higher by adopter firms than by non‐adopter firms, other benefits are not perceived differently by either adopter or non‐adopter firms. In addition, adopter firms perceive lower financial costs and higher technical capability than non‐adopter firms do. Also, adopter firms perceive higher regulatory pressure but lower stakeholder pressure than non‐adopter firms do. Implications of the findings and future research areas are discussed. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.