The evolution of growth intentions: Toward a cognition-based model

This research examines the relationship between growth intentions, cognitive style, and perceived competitive conditions, with a focus on whether and why intentions change over time. Drawing on qualitative data from a sample of 30 entrepreneurs over a five-year span, we find that entrepreneurs' cognitive style moderates the relationship between perceptions of the competitive environment and growth intentions. Entrepreneurs with differing cognitive styles vary in their approaches toward formulating and revising growth intentions. Relative to analytic entrepreneurs that exhibit greater stability in their intentions, holistic entrepreneurs are prone to greater variations in growth intentions. The findings have implications for future research, practice, public policy, and entrepreneurship training and development.     

Using influence strategies to reduce marketing channel opportunism: The moderating effect of relational norms

In an empirical study of the North American lodging industry, we investigate the efficacy of influence strategies for managing opportunism in marketing channels. We posit that the effects of influence strategies upon opportunism are moderated by the extent to which relational norms characterize the channel exchange. The results support this moderating effect. In particular, we find that relational norms have an asymmetrical effect across coercive and noncoercive influence strategies. With high relational norms in the relationship, a channel member’s use of noncoercive influence strongly limits partner opportunism whereas the use of coercive influence exacerbates partner opportunism. In contrast, noncoercive influence intensifies and coercive influence mitigates partner opportunism under conditions of low relational norms. These findings offer first insights for curbing opportunism in marketing channel relationships with the simultaneous use of different socialization mechanisms. The authors acknowledge support for this study from the summer research program of the Cornell University School of Hotel Administration and the two hotel companies we studied and thank Reed Fisher for help with the data collection.     

Segmenting tourists using sustainable values: a cluster analysis of Tanzanian inbound tourism

ABSTRACT

This study aimed at examining different segments of visitors to Tanzania with respect to their values around sustainability. Using a self-administered questionnaire, 286 cases were analyzed through a combination of non-hierarchical and hierarchical cluster analyses. The results indicated three clusters of visitors, each with different sustainable values. A follow-up analysis using ANOVA and Chi-square indicates the three clusters are significantly different in their sustainable values, their travel motives, and their demographics. These results provide insights for both public and private organizations on how to market and manage different destination elements to visitors in a sustainable manner.     

Discretion in accounting for pensions under IAS 19: using the ‘magic telescope’?

We use a panel data set of UK-listed companies over the period 2005–2009 to analyse the actuarial assumptions used to value pension plan liabilities under IAS 19. The valuation process requires companies to make assumptions about financial and demographic variables, notably discount rate, price inflation, salary inflation and mortality/life expectancy of plan members/beneficiaries. We use regression analysis to analyse the relationships between these key assumptions (except mortality, where disclosures are limited) and company-specific factors such as the pension plan funding position and duration of pension liabilities. We find evidence of selective ‘management’ of the three assumptions investigated, although the nature of this appears to differ from the findings of US authors. We conclude that IAS 19 does not prevent the use of managerial discretion, particularly by companies whose pension plan funding positions are weak, thereby reducing the representational faithfulness of the reported pension figures. We also highlight that the degree of discretion used reflects the extent to which IAS 19 defines how the assumptions are to be determined. We therefore suggest that companies should be encouraged to justify more explicitly their choice of assumptions.     

Multiple large shareholders, control contests, and implied cost of equity

In this paper, we examine whether the presence of multiple large shareholders alleviates a firm's agency costs and information asymmetry manifested in the cost of equity financing. Using data for 1165 corporations from 8 East Asian and 13 Western European countries, we find evidence that the implied cost of equity decreases with the presence, number, and voting size of large shareholders beyond the controlling owner. We also find that the identity of the second largest shareholder is important in determining the risk of corporate expropriation in family-controlled firms. Our regional analysis reveals that, mainly in East Asian firms, multiple large shareholders structures exert an internal governance role in curbing private benefits and reducing information asymmetry, perhaps to sidestep deficiencies in the external institutional environment.     

Big Five Factors of Personality and Tourists' Internet Search Behavior

This study aimed at relating tourists' Internet search behaviors and the Big Five Factors (BFF) of personality to identify personality items that better predict tourists' Internet search behaviors. Survey data from domestic tourists to a metropolitan city in South Korea was used to empirically examine the relationships. Results indicate that travel information sought through the Internet vary with the BFF with the exception of extraversion, and the Internet channels used for travel information search also varied with the BFF with the exception of conscientiousness. The Internet is more widely used as a source of travel information but less for travel purchases. The results also suggest that the responses to some BFF items can substantially improve the predictability of tourists' Internet search behaviors. Implications for the use of the BFF in designing travel information systems are addressed.     

The Impact of Risk Management Standards on Patient Safety: The Determinants of MRSA Infections in Acute NHS Hospitals, 2001–08*

We study a key part of National Health Service (NHS) policy to ensure high‐quality health care: failure to supply such care cost the NHS £787m in clinical negligence payouts during 2009–10. The NHS uses risk management standards to incentivize care, and we examine their effects on methicillin resistant Staphylococcus aureus (MRSA) infections. Using a specially assembled data set, our GMM results suggest that improvements in the risk management standards attained by some hospitals are correlated with reductions in their MRSA infection rates. Moreover, the exogeneity of this relationship cannot be rejected for higher risk management levels, suggesting attainment of higher standards was instrumental in reducing infection rates.