RESIDENTS’ PERSPECTIVES OF A WORLD HERITAGE SITE: The Pitons Management Area, St. Lucia

This study examined the factors that influence local community residents’ support for the Pitons Management Area (PMA) as a World Heritage Site and their support for Sustainable Tourism Development. Community Attachment, Environmental Attitudes and Involvement in PMA were hypothesized as independent variables. Results of a structural equation modeling analysis using 319 resident samples suggested that Community Attachment positively influences their support behaviors, and Environmental Attitudes indirectly influence the support behaviors through Perceptions about PMA. Level of Involvement in the PMA was not found to have any significant relationships. The notable lack of involvement of residents presented critical implications for the sustainability of the site.     

Are we in sync? How industry practitioners and academics profile managerial competencies: A study of an Association to Advance Collegiate Schools of Business–accredited business school in Hong Kong

The authors draw on the taxonomy of managerial competencies to assess the alignment of perceptions between industry practitioners and business academics when profiling managerial competencies required for effective performance in workplaces. Findings show that the set of managerial competency profiles, as viewed by practitioners, generally fit well with the perceptions of business academics as represented in the intended learning outcomes specified in the undergraduate business programs. It suggests that the targeted managerial competencies built around business curricula are largely in sync with the expectations of practitioners. Implications for theory and practice are discussed.     

An exploration of foreign tourists’ perceptions of Korean food tour: a factor-cluster segmentation approach

Food tour in Korea has emerged as a popular program for foreign tourists who learn and experience Korean culture through cuisine, restaurants, and dining customs. The main objective of this empirical research is to investigate foreign tourists’ perceptions of Koran food tour and segment the emerging Korean food tour market. A total of 211 usable responses from foreign tourists who experienced Korean food tour were collected through the purposive sampling approach. The results of an exploratory factor analysis showed 7 food service factors delineated from 30 food tour service attributes and 4 segments of Korean food tour market (authenticity seekers, knowledge seekers, guidance seekers, and utmost experience seekers) were identified through the cluster-discriminant analysis. Detailed implications for the operators and marketers of Korean food tour programs are discussed.     

Leveraged investor disclosures and concentrations of risk

We analyze a model where investors (e.g., hedge funds) need to borrow from lenders with heterogeneous risk-exposures and risk-management motives. Investors may obtain advantageous terms of borrowing by disclosing their investment strategy, thereby revealing its correlation to the lender's existing risk exposure. Investors risk being “front-run” by their lender if they disclose, however. We show that in the presence of front-running, the “unraveling” result of full disclosure may not hold. In addition, disclosure regulation results in a loss of welfare since investors compelled to disclose will mitigate front-running by choosing a lender with sufficiently high correlation, thus exacerbating concentrations of risk.     

Consumer acceptance of wireless finance

M-commerce has been heralded repeatedly as the new service frontier of the millennium. Present market reality, however, seems to be less optimistic. Therefore, the current study explores the factors contributing to the adoption of mobile services in a context of wireless finance. The technology acceptance model was used as a point of departure. For this study, perceived cost, system quality and social influence were added to the model, and the latter two displayed significant effects in the empirical research. Moderating effects of the variables age, computer skills, mobile technology readiness and social influence were investigated, all of which proved to be relevant in the context presented.     

What Are the Lessons from Post‐Communist Transitions?

This paper provides a review of the literature on post‐communist transitions. It outlines the debate between the proponents of rapid reforms and the advocates of neo‐institutionalism. Providing evidence from the transitional countries, it suggests an alternative approach, explicitly acknowledging the impact of two categories of constraints on reforms.