‘Tourism poverty’ in affluent societies: Voices from inner-city London

There is now a significant body of work analysing the multifaceted connections between tourism and poverty in less developed economies. Far fewer studies discuss the relationships between tourism and poverty in the world’s affluent societies and most of these concentrate on social tourism and on the benefits of these holidays for deprived and marginalised groups. This paper provides an insight into the experiences of families unable to afford any form of paid holiday away from home. Based on participant-driven interviews with 20 low-income parents living in a deprived area of Inner London, the paper reveals that for these individuals exclusion from tourism makes a clear contribution to their children’s exclusion from everyday norms as holidays are regarded as part of contemporary British family life. The study discusses policy and business implications and suggests further investigation of trans-generational ‘tourism poverty’.     

Donors: how much do they give in a lifetime?

In a relational approach to fundraising, nonprofit-making organisations have the task of developing profitable relationships with their supporters. This approach requires the definition of ‘lifetime value’ in order to assess its performance. Yet the paradox of calculating a lifetime value is that the only accurate definition of any particular individual's value can be made once they are no longer a donor – when they have died or have stopped giving. At this point they may appear of no use. However, it is by understanding past donors that present donors can be understood in terms of their existing and potential ongoing value. This paper, building on recent debate and research within the sector,[Sargeant, A. and McKenzie, J. (1998) ‘An Investigation of Donor Lifetime Value’, Paper presented to ICFM Conference, University of Warwick.] refers to the practicalities of creating and using not one, but a variety of measures from information sources that exist within such organisations. The paper specifically explores the way measures can be created and used. It raises a number of the practical issues involved in terms of accounting definitions and information availability. Understanding and using the value measures of supporters are key to ensuring that this relationship is dealt with in the most effective way for the organisation. Copyright © 1999 Henry Stewart Publications     

An investigation into the effects of domestic cleaning on upholstery covering materials backcoated with fire retardants

Abstract: The purpose of this research was to investigate the effects of domestic cleaning on upholstery covering materials backcoated with fire retardants. The results are an indicator of the effectiveness of legislative controls for upholstery. A questionnaire and pilot study were used to devise standard treatment procedures reflecting popular domestic cleaning methods. Samples of material were subjected to each treatment procedure followed by testing to the match test in BS 5852:Pt 1: 1979, over filling material specified in Part 1 of Schedule 5 of the Furniture and Furnishings (Fire) (Safety) Regulations 1988. To provide a standard, materials were also subjected to the water soak procedure in BS 5651: 1978, followed by testing to the match test. The results indicate that domestic cleaning methods affect backcoated fire retardants in such a way that current furniture legislation does not adequately provide for the level of durability required in practice. In addition, evidence was gained via a retail survey which suggests that consumers are not provided with sufficient aftercare information when purchasing new furniture.     

The UK air inclusive‐tour industry: a reassessment of the competitive positioning of the ‘independent’ sector

This paper investigates the increasing concentration in the UK air inclusive‐tour (AIT) market and the behaviour of the dominant companies (Thomson, Airtours, First Choice and Thomas Cook) operating in the sector. Arguments relating to the theoretical organisational structure of the industry are explored and regulatory investigations that have taken place are discussed. Research evidence as to the competitive position of independent tour operators in the overall UK AIT market is provided. The research indicates that a key area of difficulty for the independent sector relates to the provision of charter airline capacity although access to distribution channels and the ability to contract accommodation are viewed as further concerns. The paper concludes that regulatory authorities are faced with trying to ensure that diversity is maintained while at the same time ensuring any economies of scale derived from consolidation of the sector are passed on to consumers. In order to properly understand the true effects of industrial concentration the assembled package must be dissembled into its component parts and an increasingly a pan‐European perspective is necessary. Copyright © 2001 John Wiley & Sons, Ltd.     

Trade Liberalization and the Efficiency of Firms in Indian Manufacturing

Has the efficiency of firms in India improved since its liberalization in 1991? The authors attempt to answer this question by analyzing the determinants of firm‐level efficiency in six manufacturing sectors in India while focusing on the effects of liberalization and domestic competition. They find that there was an increase in overall efficiency in the post‐reform period in India in five out of the six sectors. While imports do not seem to improve efficiency, liberalization did increase efficiency in four of the sectors.     

The determinants of foreign direct investment in transforming economies: Empirical evidence from Hungary and China

The Determinants of Foreign Direct Investment in Transforming Economies: Empirical Evidence from Hungary and China. — This paper analyzes what factors best explain foreign capital inflows into Hungary and China during the period 1978–92. The size of the host-country markets is found to play a positive role, while the cost-of-capital variables and political instability are negatively correlated with investment inflows. It supports the hypothesis that low-cost labour and currency depreciation is an important factor in explaining how much foreign capital flows into a particular country. There is little evidence to support classical hypotheses concerning tariff barriers and import variables. The OECD growth rates show significant positive correlation with FDI in Hungary.     

The Politics of Welfare

People must be given the maximum opportunities to opt out of state provision-both consumers and providers. Rational criticism of state welfare, including the historical evidence, should be encouraged. And the family, charities, churches and voluntary associations should be seen as the mostappropriate moral outlet for compassion.     

THE FUTURE SIZE OF FARMS: MODELLING THE EFFECT OF CHANGE IN LABOUR AND MACHINERY

The response to the increase in average farm size in England in recent decades, particularly by those with a concern for the rural landscape, has been to pose the question: how much bigger can farms become? This paper contributes to the discussion of this question by examining how different combinations of land, labour and capital and/or improvements in these resources can lead to the formation of large farms. Two models are constructed representing different cropping systems and Linear Programming is employed to test for the effect of variation in the quantity and characteristics of labour and machinery. The data used in the models were derived from random sampling among the large, arable farms of the South and East of England. ‘Big scale farming in England still remains to be tried’. (Orwin, 1930).     

A Tournament Model of Fund Management

Abstract:  We develop a tournament model of portfolio management and test it on UK investment trusts. Our model extends the literature by analysing middle-ranking funds who aim to beat a benchmark; spanning two periods; focusing on 'extreme' portfolios; and using a signal-extraction framework. We predict that 'losing' managers will adopt extreme portfolios, and increasingly so, the further behind the fund is and the nearer the ranking date. Losing managers will choose high/low market exposure depending both on anticipated market movements and on whether they have sufficient assets to take advantage of a rising market. Our empirical tests support these predictions.