Sustainability,Social Discount Rates and the Selection of Project Procurement Method

The notion of sustainability has lead to the evaluation of public projects in terms of wider socio-economic and environmental benefits. The Cost Benefit Analysis and its respective, Social Discount Rate (SDR), is of crucial importance, especially when the advantages of private financing are to be demonstrated in comparison with the alternative traditional procurement of works and services. The SDR seen as a measure of a country’s value of future costs and benefits is related to the notion of promoted sustainability. The impact of smaller and declining SDRs on project selection is investigated, and a conceptual formulation concerning the selection of the project procurement method is presented. The modelled formulation will assist central and local governments in assessing projects and the potential benefit of private financing.     

The role of organizational culture in the relationship between leadership and organizational commitment: an empirical study in a Greek organization

The aim of this paper is to explore the nature of relationships between organizational culture and leadership behaviours in affecting employees' commitment to their work organization. Building on organizational commitment literature, this study used a survey methodology. Empirical evidence was obtained from 300 employees working in a large Greek service company. The analyses indicated that the culture orientations examined served as mediators in the relationship between leader behaviour and followers' affective and normative commitment to the organization. The findings also indicated that continuance commitment is a two-dimensional construct; the ‘personal sacrifices’ dimension was found to be related to organizational culture and transactional contingent reward. This research paper has key messages for practitioners contributing to the fields of commitment, organizational culture, leadership and human resource management.     

The economic effects of real estate investors

We show five new results about small- and medium-sized real estate investors (SMREI) who participate through legal entities in US housing markets. First, SMREI have the largest growth across all cities post Great Recession, in contrast to Wall Street Landlords who concentrate in superstar cities. Second, SMREI increase house price growth and price-to-income ratio, especially in the bottom price tier. Third, this effect is reversed as investors trigger a medium-run supply response. Fourth, in areas with a high supply elasticity, SMREI affect rents more than prices. Finally, SMREI change the composition of the housing stock in favor of multifamily units.     

Critical issues affecting the service quality and professionalism of the tour guides in Hong Kong and Macau

This study examines the critical issues affecting the service quality and professionalism of the tour guiding professions in Hong Kong and Macau. In-depth interviews were conducted with industry representatives in the two regions. The issues identified are classified into six categories: unhealthy business practices of outbound travel agencies in China, immaturity of the Chinese tourism market, exploitative measures by inbound tour operators, human resource issues, role conflict, and service quality assurance mechanism. A conceptual model is proposed to explain the role conflict faced by the guiding professions. The implications of the findings and recommendations for practice and future research are discussed. Given the growing importance of the Chinese tourism market, the findings will be of significant value to Hong Kong and Macau, and to other destinations targeting the Chinese market.     

A review of business models for decentralised renewable energy projects

The diffusion of renewable energy technologies has often been suggested as a means to reduce the emission of greenhouse gases, but emphasis tends to be placed on large scale projects. Adoption of renewable energy at the local level provides opportunities for both distributed energy schemes and domestic microgeneration. However, alternative models of ownership, governance and operation are not well developed. Locally managed energy solutions need to respond to varied end users' requirements to ensure that needs are met, so understanding of different types of end users is a prerequisite to the development of robust business models. This paper presents a review of existing models of decentralised energy generation in which actors such as community groups, energy cooperatives, charities and municipalities participate as owners and coproducers. End users can become involved in the design, development and delivery of energy services in a variety of ways. The focus is active user engagement through coconstruction, coproduction and coprovision of energy services. The following categories will be reviewed with reference to current understandings of both sustainable entrepreneurship and social enterprise: (a) energy service companies (ESCos) as commercial actors that undertake management of these projects, (b) energy cooperatives and (c) municipal energy. This analysis is used to reflect on and refine understanding of the relationship between technical, financial and operational constructs in models of decentralised energy generation which can contribute to social and environmental gains.     

Estimating labour and output gap: evidence from the Athens Olympic Region in Greece

The present article estimates potential labour and labour gap as well as potential output and output gap using a Cobb–Douglas production function and a Hodrick–Prescott filter. We investigate the Athens Region in Greece by sector of economic activity, with the aid of the non-accelerating wage inflation rate of unemployment concept. The results support the idea that the Athens region seems to be working, mostly, over the regional economy's capabilities, a fact which leads to inflationary pressure.     

The effects of food-related personality traits on tourist food consumption motivations

This study explores the motivational dimensions underlying food consumption in tourism, and to examine the effects of two food-related personality traits, namely food neophobia and variety-seeking, on these motivational dimensions. A tourist food consumption motivational scale was developed and seven motivational dimensions were identified: novelty and variety, authentic experience and prestige, interpersonal and culture, price/value and assurance, health concern, familiarity and eating habit, and sensory and contextual pleasure. Both food neophobia and variety-seeking were found to have significant effects on various motivational dimensions. The implications of the findings for practice and future research are discussed.     

Attributes that influence the evaluation of travel dining experience: When East meets West

Many destination marketers have utilized gastronomy as a source of new products and activities to attract tourists. Despite the substantial rise in the Chinese outbound market, very little is known about how Chinese tourists evaluate their travel dining experiences. By using narrative analysis, this study examines attributes that may affect Chinese tourists' evaluation of their travel dining experiences. On-site participant observation and focus group interviews were conducted, respectively, with Mainland Chinese, Taiwanese, and Hong Kong group tourists, while they were on holiday in Australia. A total of 15 attributes were identified, which were classified under the following six categories: tourists' own food culture, the contextual factor of the dining experience, variety and diversity of food, perception of the destination, service encounter, and tour guide's performance. The respective implications of the attributes on travel dining experience are also discussed.     

Factors influencing tourist food consumption

This study attempts to identify the salient factors affecting tourist food consumption. By reviewing available studies in the hospitality and tourism literature and synthesising insights from food consumption and sociological research, five socio-cultural and psychological factors influencing tourist food consumption are identified: cultural/religious influences, socio-demographic factors, food-related personality traits, exposure effect/past experience, and motivational factors. The findings further suggest that the motivational factors can be categorised into five main dimensions: symbolic, obligatory, contrast, extension, and pleasure. Given the lack of research in examining tourist food consumption systematically, the multidisciplinary approach adopted in this study allows a comprehensive understanding of the phenomenon which forms the basis for further research and conceptual elaboration.