The influence of terrorism risk perception on purchase involvement and safety concern of international travellers

Abstract

Using a sample of 600 international tourists travelling in Portugal, Spain and Italy, this study identifies key issues related with terrorism, risk perception, involvement and safety concerns of international tourists. A structural equation model reveals that tourists are motivated to acquire information about terrorism in the media, revealing attention to and interest in news regarding this topic, which in turn influences directly their risk perception. This risk perception influences directly the tourist’s involvement in trip planning, specifically information seeking before and during the trip. Tourists’ risk perception and involvement finally influences their safety concern. Discussion centres on the implications of this model for both theory and tourism management strategies. Last, recommendations are proposed to tourism service and destination managers and promoters regarding ways to deal with terrorism and tourists’ safety concerns.     

Inflation uncertainty revisited: a proposal for robust measurement

Any measure of unobserved inflation uncertainty relies on specific assumptions which are most likely not fulfilled completely. This calls into question whether an individual measure delivers a reliable signal. To reduce idiosyncratic measurement error, we propose using common information contained in different measures derived from survey data, a variety of forecast models, and volatility models. We show that all measures are driven by a common component, which constitutes an indicator for inflation uncertainty. Moreover, our results suggest that using only one individual disagreement measure may be misleading, particularly during turbulent times. Finally, we study the Friedman–Ball hypothesis. Using the indicator, we show that higher inflation is followed by higher uncertainty. By contrast, we obtain contradictory results for the individual measures. We also document that, after an inflationary shock, uncertainty decreases in the first two months, which is traceable to the energy component in CPI inflation.     

Understanding co-operative innovative activity: evidence from four European countries

We investigate co-operative innovative activity in four major European countries, France, Germany, Spain and the UK, using internationally comparable firm-level data for manufacturing and service sectors. We examine the roles of knowledge flows, cost- and risk-sharing and public financial support in firms’ decisions to collaborate. Our results suggest that firms which place greater value on external information flows are more likely to co-operate with the research base than with other firms and that firms facing appropriability problems are more likely to co-operate with the research base and with upstream and downstream firms than with direct competitors. We find evidence for Spain to suggest that firms collaborate to overcome risks and financial constraints. We also find that receipt of public support is positively related to undertaking collaborative innovation. In line with the focus of policy, this relationship is strongest for co-operation with the research base.     

Expenditure-Based Segmentation of a Mountain Destination Tourist Market

Although tourism is one of the most dynamic economic activities worldwide, few studies have been conducted on the potential role of market segmentation based on visitors' expenditure level at the destination in order to define strategies for maximizing the economic benefits of tourism for local destinations. This study extends the research undertaken in this area by identifying different clusters of visitors, in a Portuguese mountain destination, according to the level and patterns of visitors' expenditure during the visit. Four distinct segments were identified and show statistically significant differences regarding their economic relevance for the destination, sociodemographic profile, and trip behavior. This study contributes to the discussion of analytical marketing tools available in the context of destination planning, aiming at the definition of strategies that may maximize the economic contribution of tourism for local economic development.     

Using Mokken scale analysis to develop unidimensional scales

This paper describes Mokken scale analysis as a method for assessing the unidimensionality of a set of items. As a nonparametric stochastic version of Guttman scale analysis, the Mokken model provides a useful starting point in scale construction since it does not impose severe restrictions on the functional form of the item trace lines. It requires only that the item trace lines are monotonically increasing and that they do not cross. After describing the Mokken method, we illustrate it by analyzing six abortion items from the 1975–1984 NORC General Social Surveys. In contrast to earlier parametric analyses of these items (regular and probit factor analyses), we find that these items form a single dimension. We argue that the two-dimension solution of these earlier analyses is an artifact of the differences in the difficulty of the items.     

Fuel for the body — Nourishment for dreams: Contradictory roles of food in contemporary Norwegian food advertising

The study explores and identifies the content of contemporary Norwegian food advertising with special attention to the ability of food of conjoining both the physical, social, and symbolic dimensions of human experience. The article focuses especially on the role of food in construction of gender identity. Quantitative and qualitative techniques are applied on a sample of 412 printed food adverts collected from Norwegian weekly and daily press.

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Zusammenfassung Brennstoff für den Körper — Nahrung für TrÄume: GegensÄtzliche Rollen von Nahrungsmitteln in der derzeitigen norwegischen Nahrungsmittelwerbung Berichtet wird über eine Studie zur Erforschung des Inhalts zeitgenössischer norwegischer Nahrungsmittelwerbung mit besonderer Berücksichtigung der FÄhigkeit von Nahrungsmitteln, die physische, die soziale und die symbolische Dimension menschlicher Erfahrung miteinander zu verbinden. Im Mittelpunkt steht die Rolle von Nahrungsmitteln bei der Schaffung der GeschlechtsidentitÄt. Quantitative und qualitative Techniken werden auf Daten angewendet, die aus einer Stichprobe von 412 gedruckten Nahrungsmittelanzeigen aus der norwegischen Tages- und Wochenpresse stammen.

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The author would like to thank Randi Lavik, Eivind Jacobsen and Tormod Lunde for generous support and constructive comments during the data analysis procedure.     

Generational Accounting in New Zealand: Is There Generational Balance?

This paper uses a recently-developed technique, calledgenerational accounting, to assess New Zealand's long-term fiscalposition. Generational accounting has become a popular alternativeto traditional deficit accounting, because it provides a moreaccurate picture of the intergenerational distribution of fiscalburdens and the associated macroeconomic effects, particularlyin the presence of demographic transitions and large unfundedpublic transfer programs. Past studies have suggested the existenceof significant generational imbalances in several countries.We find that behind New Zealand's projectedbudget surpluses, there is indeed a sound fiscal picture. Evenunder the base case scenario, which entails substantial short-runtax reductions, the burden on future generations (relative toincome) is projected to fall slightly below that on current newborns.New Zealand appears to have avoided the large fiscal imbalancesplaguing the United States and other OECD countries not by placinglarge tax burdens on young current generations, but by limitingthe size of its commitments.     

USSR

Statistical Annex

USSR     

Voluntary disclosure and its impact on share prices: Evidence from the UK biotechnology sector

In the UK, SSAP 13 requires that firms immediately expense most of their R&D expenditures. The reported earnings of high-R&D expenditure firms are therefore likely to convey less value-relevant information to investors than those of less research-intensive firms. Using a sample of firms from the high-R&D UK biotechnology/pharmaceutical sector, we find that earnings announcements have a much lower price impact than drug development announcements. We also find that there are significantly more ‘good news’ voluntary announcements than ‘bad news’ announcements. Furthermore, our findings indicate that these firms are more likely to announce late than early stage developments, and that the pattern of disclosures, and the market’s reaction to them, varies between larger, dominant firms and their smaller counterparts.