Long-term Decline of Small and Medium Size Enterprise Share

There exist few studies of long-term small and medium size enterprise (SME) share in developing countries. This paper presents and examines evidence that SME share in Venezuelan manufacturing has experienced serious decline from 1961 to present times. Evidence is given of this decline in terms of key performance measures: numbers of firms, employment numbers and manufacturing value added. An absolute decline of this stratum has also occurred from 1979 onwards. Economic modelling suggests that efficiency and innovation variables are significantly correlated with this decline while a structural variable explains movement around this trend. This broadly concurs with studies in other select economies where these groups of variables have also been found to be significant. However, unlike Venezuela, these variables often explain a recent revival in these economies' SME share. In particular, we find evidence that the decline in Venezuelan SMEs' relative efficiency and innovation performance along with the prejudicial business environment cause this decline in SME share.     

International medical technology diffusion

Does medical technology generated in frontier countries have a significant impact on health outcomes in the rest of the world? This paper considers a framework where non-frontier countries may benefit from medical innovation that is embodied in medical imports or diffuses in the form of ideas. Using a novel dataset from a cross-section of 63 technology-importing countries, we show that medical technology diffusion is an important contributor to improved health status, as measured by life expectancy and mortality rates.     

Sustainability indicators for managing community tourism

The purpose of this study is to develop indicators to measure community tourism development (CTD) within a sustainable framework. In order to develop such objective indicators, this study employed a modified Delphi technique. A panel of 38 academic researchers in tourism provided input into developing the indicators. After three rounds of discussion, the panel members reached consensus on the following set of 125 indicators: political (32), social (28), ecological (25), economic (24), technological (3), and cultural dimensions (13) for CTD. This set of sustainable tourism indicators can serve as a starting-point for devising a set of indicators at the local and regional level. Further study shall develop a set of sustainable indicators relying on communities’ distinctive characteristics and employing indicator experts from the social and physical sciences and from all stakeholder groups, including residents of the host community, industry experts, government planners, policy-makers and non-governmental organizations [United Nations (2001). Managing sustainable tourism development: ESCAP tourism review, No. 22. New York, NY: UN].     

The Impact of Social Influence Pressure on the Ethical Decision Making of Professional Accountants: Australian and New Zealand Evidence

This paper reports the results of an online survey examining whether inappropriate social influence pressure, in the form of obedience and conformity pressure generated by superiors and colleagues, influences the ethical decision making of members of four professional accounting institutes in two countries, namely Australia and New Zealand. We also evaluate the effects of organisational and professional commitment and what role, if any, such commitment plays in mitigating inappropriate social influence pressure. The results indicate that despite the members of the professional bodies displaying a high level of ethical judgement, obedience and conformity pressure do influence their ethical decision making. Furthermore, high levels of organisational and/or professional commitment were found to mitigate inappropriate social influence pressure, in that respondents who exhibit high levels of organisational and/or professional commitment are less likely to succumb to inappropriate social influence pressure. Our findings contribute to an understanding of the influences on ethical decision making by professional accountants, which could make workplace environments more conducive for ethical decision making by focusing on reducing inappropriate social influence pressure by taking steps to increase organisational and/or professional commitment.     

Effect of scenario planning on field experts' judgment of long‐range investment decisions

We present the results of three field experiments demonstrating the effect of scenario planning on field experts' judgment of several long‐range investment decisions. Our results show, contrary to past findings, that the use of multiple scenarios does not cause an aggregate increase or decrease in experts' confidence in their judgment. Rather, expert judgment changes in accordance with how an investment fares in a given scenario: it becomes more favorable if the investment is found to be useful for a particular scenario used by the expert, and vice versa. This scenario‐induced change is moderated by the expert's confidence in his/her judgment before using the scenario. Finally, our results show that field experts prefer more flexible options to make specific long‐range investments after using multiple scenarios. Copyright © 2014 John Wiley & Sons, Ltd.     

Analysing Service Quality in the Hospitality Industry Using the SERVQUAL Model

This study reports an application in the hospitality industry of the SERVQUAL model developed by Parasuraman, Zeithaml and Berry. Although originally developed for application within the financial services sector, the model is designed to measure those components of service that generate satisfaction within five dimensions. This study identified the existence of gaps between clients' and management perceptions of attributes of the hotel, and between client expectation and perception of the services offered. It is argued that the existence of these gaps is a source of dissatisfaction with services provided. Factor analysis identified five dimensions explaining 78 per cent of variance, but these differed from the SERVQUA L model.     

Technology progress in the Chinese construction industry under the iron-fist of government

Government policies and actions in transitional economies have far-reaching consequences for technology progress. Many studies suggest the important role of governments in providing policies and finance to facilitate technology innovations. The Chinese government has often been seen to exemplify this. This article probes government actions in practice, the way it is conducted and the negative consequences for innovation. We focus on one of China's most important and successful sectors – construction. An analytical framework based on ‘complex systems industry’ is used and a causal map developed to examine the role of the Chinese government acting as client, regulator and administrator of industrial and professional bodies and their impact on innovation in the construction sector. This paper confirms that innovation is industry specific and social and economic context dependent. While recognising the powerful role of the Chinese government, it argues that in reality the ‘Chinese government’ is not a uniform entity, but rather consists of various entities acting in accordance with their varied vested interests at a specific time and under particular circumstances.     

The convoy of pollution

This paper argues that society is saturated with ideas of ‘normal’ ‘healthy’ leisure practice. These ideas reflect an historically specific distribution of power. The case of the hippy convoy and the controversy over the use value of Stonehenge as a leisure resource is examined to illustrate the official ordering of leisure in society and the social reaction to it. The paper concentrates on the events of 1986 leading to the Stoney Cross clearance. The paper concludes by making two general points about the significance of leisure experience in consciousness raising and the importance of deviant leisure for leisure studies.     

Derivatives usage in UK non-financial listed companies

In this paper, the authors present the results of a 1997 survey of derivative used by some 231 UK non-financial companies. The questionnaire instrument used in this research is based upon the postal survey methodology of Bodnar et al. (1995). A glossary was attached to the questionnaire survey to enable consistency in defining terminology used. A direct comparison between US and UK findings was undertaken together with an analysis of results from other published surveys conducted in the last four years. We find broadly similar trends in the use of derivatives. The results of our research show that derivatives usage to hedge financial price risk is well established amongst larger UK companies. Our findings support the size effect phenomena reported in other empirical studies. The primary objective cited in using derivatives was to manage fluctuations in accounting earnings, a focus that is inconsistent with the theoretical view of paying attention to cash flow benefits of hedging. The predominant issues of concern to UK inancial directors are the lack of evaluation of risk of proposed derivative transactions and the level of transaction costs incurred. This contrasts with the greater concerns of credit risk and market risk raised by their US counterparts in Bodnar's study. A possible explanation for these concerns could be the impact of the currency crisis happening in Asia especially for firms that are exposed to the affected currencies. It also suggests a lower level of sophistication and liquidity in UK derivatives market. The value of developing a basis for benchmarking good management practice in the use of derivatives to manage financial price risk represents an important area of research. Such a framework is of relevance to the demand and supply side of the derivatives market and to Government policy makers.