Objective measures as a predictor of late payments by high‐risk borrowers

Manufactured homes (also known outside the US as prefabricated homes) are a viable housing option for low‐income buyers, but traditional mortgages are not available for purchase of manufactured homes because of a perception of higher risk of default among purchasers of manufactured homes. Research suggests that creditscoring models which incorporate objective data such as income, debt‐to‐income ratio and credit history result in an accurate and objective predictive tool to estimate likelihood of late payments and default among traditional home buyers. This study showed that these same models can be applied similarly to purchasers of manufactured homes. A Tobit model was developed to evaluate which factors most accurately predict default and late payment behaviour among borrowers who purchased a manufactured home. The model showed that when decomposed into the probability of making a late payment and number of late payments, credit score and income are both significant predictors in both sets of borrowers of both the probability of making a late payment and the number of late payments. The higher the credit score, the less likely the borrower is to make a late payment.     

The WTO,the Environment and Health and Safety Standards

The World Trade Organization (WTO) is a product of the General Agreement on Tariffs and Trade (GATT). The WTO was created in the last round of negotiations (Uruguay Round, 1986‐94) to provide a stronger set of institutions to administer the various agreements negotiated under the GATT framework. Because the WTO is more powerful than its predecessors, critics claim that it poses a threat to national sovereignty. Concerns about the ability of nations to set their own environmental and health and safety agendas have figured prominently in these critiques. In addition, critics suggest that the WTO prioritises trade objectives at the expense of environmental and health and safety objectives. The article explores the extent to which the WTO has been able to reconcile trade, environmental and health and safety objectives by analysing its rulings on these matters. Overall, this analysis suggests that the WTO dispute resolution process has balanced all three sets of objectives. However, it is important to note the small number of disputes to date; only 21of the 175 disputes before the WTO involve environmental and health and safety matters. Further, the WTO has issued decisions in only six of these cases.     

Managing the Yin and Yang of family capital: a study of Chinese immigrant entrepreneurs

Family capital can provide positive resources for entrepreneurship; however, it can also bring negative consequences that hinder the growth of a new venture. We investigated how entrepreneurs experienced and managed the positives and negatives of family capital through in-depth semi-structured interviews with Chinese immigrants who landed in Canada between 2000 and 2014. We contribute to the entrepreneurship literature by highlighting the paradoxical nature of family capital, and by identifying five strategies that entrepreneurs employed to manage the paradox.     

Exploring determinants of meeting planners’ commitment to the business relationships with destination management companies

Although there is a demand for research on a business-to-business relationship between meeting planners and destination management companies, the current hospitality and tourism literature is insufficient in its attempt to understand the dynamics of this unique relationship. Recently, in the meeting industry, destination management companies have been recognized to experience a more challenging business environment due to the abundance of online vendor information which activates meeting planners’ disintermediation of destination management company services. To provide more practical implications for these key meeting players, this study urges that the key factor that encourages meeting planners to continue using destination management companies is trust. Therefore, this study examines determinants of the trust–commitment relationship as a means for meeting planners to achieve a more sustainable relationship with destination management companies. Applying and extending social exchange theory, this study also explores the determinants of the future relationship (commitment or termination). Findings of this research will provide the industry with suggestions for their relationship development.     

Institutional cross-ownership,heterogeneous incentives,and negative premium mergers

Review of Quantitative Finance and Accounting - Cross-owners, investors who have stakes in both the acquiring and target firms, are likely to focus on the total portfolio wealth effects from...     

Not all shadow banking is bad! Evidence from credit intermediation of non-financial Chinese firms

Review of Quantitative Finance and Accounting - Using data from 2009 to 2016 data, we investigate the relation between leverage and investment in listed firms in China against the backdrop of...     

Which eligible households get grants? Demographic correlates of receipt in South Africa

Since Apartheid, the South African government transformed and expanded the social grants system to improve the well-being of its vulnerable populations. Despite increased efforts, a sub-section of the grant-eligible population is not reached. Too little is known about the factors that contribute to grant receipt, especially for the household as a whole. This article examines the household and community characteristics associated with grant receipt among poor households in KwaZulu-Natal. We add to previous work by assessing grant receipt at the household level, examining receipt of the two major grants and analysing correlates in a multivariate framework. While associations with grant receipt are complex and varied, we find higher grant receipt (especially the Child Support Grant) among more disadvantaged households. We also find that characteristics across multiple domains are needed to best distinguish household grant receipt. We discuss theoretical implications for models of grant receipt and practical implications for improving grant access.     

A tangled web: views of deception from the customer's perspective

While there has been extensive research on deception, extant literature has not examined how deception is processed solely from the customer's perspective. Extensive qualitative interviews were conducted and analyzed to inform the proposed framework. Cognitive dissonance theory and attribution theory are used to frame the process consumers go through when deception is perceived. When consumers perceive deceit, they will consider attribution before determining intentionality. Internal attributions relieve the company of wrongdoing to some extent, whereas external attributions lead consumers to examine several elements of deception including intent. Unintentional deceit will trigger assessments of magnitude, stability, and switching costs; while less is considered when deceit is intentional. The findings of this research are important for advancing theory in relation to deceit and for helping practitioners understand the importance of changing consumer cognitions before consumers decide to change their behavior by discontinuing the relationship.