The Effect of Distance on Tourism in Hong Kong: A Comparison of Short Haul and Long Haul Visitors

This study reports on a pilot project examining the effect of distance on the profile and trip characteristics of vacation visitors to Hong Kong. Secondary data are used. The study reveals a clear long haul/short haul dichotomy in visitor profile and resultant behaviors in Hong Kong. Long haul tourists tend to be older, more affluent and view Hong Kong as a stop-over destination, whereas short haul visitors are younger, less affluent and see it as their main and only destination. The resultant socio-demographic and destination role differences translate into substantially different in-destination behavior patterns. The authors argue that these differences are, at least in part, a function of the discriminating effect that distance has on the ability of some people to travel to long haul destinations.     

A Cointegrating approach to budget deficits and long-term interest rates

A cointegrating approach is undertaken in this study to determine if there is a long-run equilibrium relationship between budget deficits and long-term interest rates for the United States and nine European countries. The cointegration approach consists of conducting cointegration tests and then testing several hypothesized values for the deficit and price expectations variables. The cointegration results suggest the existence of several significant cointegrating vectors for each of the ten countries, which would seem to appeal to the view of budget deficits having a positive impact on long-term interest rates. The hypothesized values for the deficit and price expectations variables are found to be too strict since the hypotheses are rejected in every case but one.     

How to counteract the suppression of exploration in publicly traded corporations

Top management teams frequently overemphasize efforts to exploit the current product portfolio, even in the face of the strong need to step up exploration activities. This mismanagement of the balance between explorative R&D activities and exploitation of the current product portfolio can result in the so‐called success trap, the situation where explorative activities are fully suppressed. The success trap constitutes a serious threat to the long‐term viability of a firm. Recent studies of publicly traded corporations suggest that the suppression of exploration arises from the interplay among the executive team's myopic forces, the board of directors as gatekeeper of the capital market, and the exploitation–exploration investments and their outcomes. In this paper, system dynamics modeling serves to identify and test ways in which top management teams can counteract this suppression process. For instance, we find that when the executive board is suppressing exploration, the board of directors can still prevent the success trap by actively intervening in the exploitation–exploration strategy.     

Do gender and nationality affect attitudes towards tourism and the environment?

This study examines whether gender and home economy influence attitudes towards tourism and the environment. Students enrolled in senior undergraduate and first‐year postgraduate tourism and hospitality subjects from eight economies are studied. Previous research on environmental attitudes has focused on either gender or home nationality, but has rarely examined the interrelationship between the two, and none has focused explicitly on attitudes to tourism and the environment. The study concluded that nationality mitigates attitudes among women much more than it does among men. The authors also conclude that general environmental attitudes are well formed, but tourism‐related environmental attitudes are often contradictory. Copyright © 2010 John Wiley & Sons, Ltd.     

Drownings in Scotland: the real story

The Scottish Accident Prevention Council is responsible for promoting water safety in Scotland. It has long expressed concern that the number of reported drownings in Scotland underestimates the actual figures. The key aims of this study were to establish a valid database of water-based incidents in Scotland and test the under-reporting proposition. A survey involving interviews and correspondence was undertaken to establish the sources of information on drownings. Once identified, a database was established and data for a 7-year period acquired. The study identified the organizations essential to the establishment of a complete database. It also established protocols for gaining annual information. Data analysis confirmed a significant under-reporting of accident data and signalled a number of areas of concern with regard to those most at risk. The study produced, for the first time, a mechanism for recording complete details of drownings in Scotland.     

通用电气有一个不错的主意

通用电气公司使用因特网后，在其保底线外又增加了１６亿美元的收入。这是一种意外收获，还是一种开始？     

Rating tourism and hospitality journals

This paper reports on the findings of a global study of tourism and hospitality academics asking them to rate their collective literature. The study adopted a peer assessment method, using a snowball sample to maximize response rates. Overall, 70 tourism and hospitality journals were assessed (40 tourism and 30 hospitality) by 314 tourism and 191 hospitality experts. The study revealed that tourism and hospitality community, collectively, rates its journals in a clear hierarchy based on a combination of awareness and perceived quality rating.     

‘All they lack is a chain’: lean and the new performance management in the British civil service

The adaptation of lean techniques in public services is viewed as an innovative managerialist response to government demands for more efficient services amidst large reductions in public spending. This paper explores workers' experiences of the impact of lean on work organisation and control and provides new insights into developments within contemporary back office clerical work.     

Variance Spillover and Skewness in Financial Asset Returns

Bond and stock returns have been observed in the literature to exhibit unconditional skewness and temporal persistence in conditional skewness. We demonstrate that observed persistence in conditional third central moments can be due to the spillover of conditional variance dynamics. The confounding of true skewness and a variance spillover effect is problematic for financial modeling. Using market data, we empirically demonstrate that a simple standardization approach removes the variance‐induced skewness persistence. An important implication is that more parsimonious return and asset pricing models result if skewness persistence need not be modeled.