Learning CAD at university through summaries of the rules of design intent

The ease with which 3D CAD models may be modified and reused are two key aspects that improve the design-intent variable and that can significantly shorten the development timelines of a product. A set of rules are gathered from various authors that take different 3D modelling strategies into account. These rules are then applied to CAD strategic-knowledge learning methodology and included in 3D CAD modelling exercises for students following the degree in mechanical engineering at the University of Burgos (Spain). The experiment was conducted in two groups with a total of 75 students. The design-intent rules were introduced in the different exercises that the teacher explained in both the theoretical and the practical classes. In addition, a summary of the different design rules in each of the practical exercises was explained in the practical classes in only one of the groups. The experimental results, reported in this paper, tested the influence of these summaries on overall improvements in 3D modelling and on the design-intent variable, which is subdivided into four sections: skeleton, structures, alterations and constraints. The use of the summaries of the design intent rules led to statistically significant improvements in 3D modelling in the experimental group, in comparison with the group of students to whom those summaries were not explained.     

Memberships Levels in U. S. Private Clubs During the 2008–2010 Economic Downturn

This study measured membership changes in private clubs in the United States during the economic downturn from 2008 to 2010. Specifically examined were the changes clubs experienced with their number of members, waiting lists, and attrition rates. A letter was sent via e-mail to the same 1,000 private clubs that were sent a survey in a similar study conducted by Ferreira and Gustafson (2006 Ferreira, R. R. and Gustafson, C. M. 2006. Declining memberships during an economic downturn in U.S. private clubs. International Journal of Hospitality & Tourism Administration, 7(2/3): 3–18. [Taylor & Francis Online] , [Google Scholar]) The managers of these clubs were members of the Club Managers Association of America. The majority of respondents managed country clubs and member-owned clubs, representing different areas of the United States. An overall response rate of 53% was achieved. Most clubs experienced a decrease in the overall number of members and an increase in annual attrition rate. Fewer clubs reported having a waiting list of members wanting to join. The clubs without waiting lists reported a larger number of membership openings in their clubs. The results of this study suggest the levels of memberships in many private clubs are heavily influenced by economic conditions. An implication from this study is that clubs need to implement membership development strategies during economic downturns because of the decline in the number of members, candidates proposed, and waiting lists during these periods.     

Creating sustainable value in the hospitality industry: a (critical) multi-stakeholder study in the Dominican Republic

This paper identifies sustainable initiatives reported by “sustainability-champion” hotels in the Dominican Republic, while contrasting them against the views of key stakeholders. We adapt and apply Hart and Milstein's Sustainable Value Framework, and complement it with a Critical Management Studies approach. Our analysis relies on a mixed-methods approach (non-hierarchical k-means cluster analysis, as well as thematic and content analysis). Findings indicate that most hotels are engaging more actively in present-oriented strategies such as pollution prevention (especially, the international hotels) and in product/service stewardship. However, in the future-oriented strategies, hotels owned by local investors show higher commitment to both clean technology and innovation, and to the sustainability vision (as the firm's growth path). In addition, although the views of multiple stakeholders show a clear acknowledgment of the hospitality industry's sustainability efforts (particularly regarding education and environmental protection), they also offer differing views about the ultimate impact and value of those efforts for them and for the broader society. Our study offers a new theoretical lens to explore multi-stakeholder approaches and offers practical implications for the Dominican Republic's National Strategy for Development 2010–2030, as well as implications that may be of use for other tourism-dependent countries.     

Does Energy Consumption Respond to Price Shocks? Evidence from a Regression‐Discontinuity Design

We exploit unique features of a recently introduced tariff schedule for natural gas in Buenos Aires to estimate the short‐run impact of price shocks on residential energy utilization. The schedule induces a non‐linear and non‐monotonic relationship between households' accumulated consumption and unit prices, thus generating exogenous price variation, which we exploit in a regression‐discontinuity design. We find that a price increase causes a prompt and significant decline in gas consumption. The results also indicate that consumers respond more to recent past bills than to expected prices, which argues against an assumption of perfect awareness of complex price schedules by consumers.     

Worker Turnover, Job Turnover and Collective Bargaining in Spain

This paper analyses the relationship between the presence of organized labour in firms (approximated by the scope of collective bargaining) and the extent of gross worker and job flows. According to the voice theory of Freeman, those firms having a union presence will have lower worker mobility. However, there is no analysis of the effects of the presence of organized labour on gross job flows. Using a Spanish data base, we find evidence of the existence of a voice effect on gross worker flows but not clear support for a voice effect on gross job flows.     

Global financial crisis and dependence risk analysis of sector portfolios: a vine copula approach

We use regular vine (r-vine), canonical vine (c-vine) and drawable vine (d-vine) copulas to examine the dependence risk characteristics of three 20-stock portfolios from the retail, manufacturing and gold-mining equity sectors of the Australian market in periods before, during and after the 2008–2009 global financial crisis (GFC). Our results indicate that the retail portfolio is less risky than the manufacturing counterpart in the crisis period, while the gold-mining portfolio is less risky than both the retail and manufacturing sector portfolios. Both the retail and gold stocks display a higher propensity to yield positively skewed returns in the crisis periods, contrary to the manufacturing stocks. The r-vine is found to best capture the multivariate dependence structure of the stocks in the retail and gold-mining portfolios, while the d-vine does it for the manufacturing stock portfolio. These findings could be used to develop dependence risk- and investment risk-adjusted strategies for investment, rebalancing and hedging which more adequately account for the downside risk in various market conditions.     

Inequality and Income Distribution in Global Value Chains

Global value chains (GVCs), led by transnational corporations (TNCs), have reshaped the world division of labor over the past two decades. GVCs are pervasive in low technology manufacturing, such as textile and apparel, as well as in more advanced industries like automobiles, electronics, and machines. This hierarchical division of labor generates wild competition at the lower value-added stages of production, where low wages and low profit margins prevail for workers and contract manufacturers in developing countries. At the top of the hierarchy another kind of competition prevails, centered on the ability to monitor and control intellectual property rights related to innovation, finance, and marketing. We argue that GVCs have had crucial effects on income inequality and the appropriation of rents in modern capitalism.     

Relevance of the EU Banking Sector to Economic Growth

Using panel estimates and a sample including all 28 European Union (EU) countries, this paper seeks to improve upon the existing literature with empirical evidence on the role that banking institutions can play in promoting economic growth. Banking sector performance is proxied by relevant operational, capital, liquidity and asset quality financial ratios. Economic growth is represented by the annual gross domestic product (GDP) growth rate. The estimations take into account the recent international financial crisis and consider three panels: one for the time period 1998–2012, a second one for the years before the crisis (1998–2006) and another for the subinterval 2007–2012. The results allow us to draw conclusions not only about the importance of the various financial ratios to economic growth but also regarding reactions to the recent crisis.     

The theoretical structure of producer willingness to pay estimates

This article analyzes the theoretical underpinnings of producer willingness to pay (WTP) for new inputs. In addition to conceptualizing the producer WTP function, we derive its comparative statics and show how these properties can be used to estimate quantities demanded or supplied and price elasticities. We also discuss implications of the comparative statics.