Travel stimulated by international students in Australia

The international student (IS) market in Australia has been a growing export economy. Because of the traditional definition of tourism being that of ‘a leisure activity outside a usual work scope area for a period of less than a year’, tourism research on IS has been minimal. This research investigates the tourism demand stimulated by IS in Australia. Besides tourism statistics, the research involved 23 IS in focus groups who provided responses of their tourism activities while in Australia. The research illustrates that such IS are significant contributors to tourism by visiting places of interest, purchasing souvenirs, casual work in hospitality and visits by friends and relatives. Copyright © 2006 John Wiley & Sons, Ltd.     

The Market Reaction to Discontinuing Regular Stock Dividends

This paper investigates the behavior of returns to share-holders of NYSE and AMEX firms that publicly announce the discontinuance of regular stock dividends. Using event-type methodology, the results show that the average abnormal return for NYSE and AMEX firms is negative but not statistically significant on the event date. Partitioning the sample by stock-related characteristics shows that for small firms with low stock prices and low institutional ownership, management's decision to drop regular stock dividends conveys a significantly negative signal, which, in turn, causes stock prices to decline. Firms that drop a stock payment and simultaneously initiate or increase cash dividends experience a significant increase in shareholder wealth. However, firms that drop the stock dividend policy and do not begin a cash dividend policy experience a sharp decline in shareholder wealth.     

Robert G. Angevine. The Railroad and the State: War, Politics, and Technology in Nineteenth-Century America. Stanford, Calif.: Stanford University Press, 2004. xvii + 351 pp. ISBN 0-8047-4239-1, $65.00 (cloth).

Robert Angevine’s excellent monograph offers valuableinsights for historians of technology, business, and the military.This book details the "symbiotic" relationship of railroadsand the military, showing how the relationship evolved duringthe nineteenth century. Angevine lays out his story chronologically. The fact that theUnited States was going to need some sort of transportationinfrastructure in order to move troops in a timely manner wasfirst realized after the War of 1812. As a result,     

Like,Share, Retweet: Testing Competing Models of the Theory of Planned Behavior to Predict Slacktivism Engagement

ABSTRACT

Token support for social causes has been increasingly studied and commented on in recent years. Campaigns such as the Livestrong bracelet, the pink breast cancer ribbons, the Kony 2012 video, the ALS Ice Bucket Challenge, and the Facebook profile picture modifications for marriage equality and support for Paris after the terrorist attacks in November 2015, have been coined “slacktivism” and those who engage in such activities “slacktivists”; however, little empirical research has been done on the topic. Most of the research and commentary on slacktivism focuses on social media activity online. This research tests competing models of the theory of planned behavior in predicting an individual’s slacktivism engagement from their attitudes, norms, perceived behavioral control, and behavioral intention. The results suggest that although the theory may be a plausible representation of the data, behavioral control may not be important in the context of engaging in slacktivism.     

Bridging the Digital Divide in Malaysia: An Empirical Analysis of Technological Transformation and Implications for E-development

This article uses research from the fields of international business, economics and industrial relations to investigate how the context of multinational corporations affects the bargaining power of shop-floor workers and senior management. It is set in the context of the Asia Pacific region. Senior executives negotiate their salaries from positions of strength, especially when their subsidiaries fulfil important strategic roles. In contrast, shop-floor workers can face threats to ‘move the plant to Asia’ when negotiating wages. These dissimilar negotiating positions provide the context in which wages are negotiated in the region. It is anticipated that the study will assist managers of multinational corporations and their employees’ representatives as they approach wage negotiations.     

Grouped coefficients to reduce bias in heterogeneous dynamic panel models with small T

We propose the grouped coefficients estimator to reduce bias in dynamic panels with small T that have a multilevel structure to the coefficient and factor loading heterogeneity. If groups are chosen such that the within-group heterogeneity is small, then the grouped coefficients estimator can lead to substantial bias reduction compared to pooled GMM dynamic panel estimators. We also propose using a Wald test that can be used to assess whether pooled estimators suffer from heterogeneity bias. We illustrate the usefulness of grouped coefficients with an application to labour demand in which the coefficients are grouped by sub-sector. Our results suggest that the standard pooled estimates are substantially biased.     

Wage and Price Dynamics in China

We study wage‐price dynamics in Mainland China with a novel data set using province‐level data from 1994 to 2010. We find that the growth in labour costs in China is not passed through fully to final prices, neither in the tradable goods sector nor in the economy as a whole. This probably reflects the strong pressure on profit margins from a highly competitive environment, especially in manufactured goods. These findings have potential implications for global price developments, given China's relevance in global supply chains.     

A PRIMER ON MATHEMATICAL MODELLING IN ECONOMICS

Abstract The Commission on Graduate Education in Economics had raised several concerns regarding the role of mathematics in graduate training in economics ( Krueger, 1991 ; Colander, 1998, 2005 ). This paper undertakes a detailed scrutiny of the notion of a utility function to motivate and describe the common patterns across mathematical concepts and results that are used by economists. In the process one arrives at a classification of mathematical terms which is used to state mathematical results in economics. The usefulness of the classification scheme is illustrated with the help of a discussion of Arrow's impossibility theorem. Common knowledge of the patterns in mathematical concepts and results could be effective in enhancing communication between students, teachers and researchers specializing in different sub‐fields of economics.     

Market power and compliance with output quotas

This paper examines the compliance behaviour of a dominant firm in an output quota market when the firm is able to exercise market power in both the quota and the output markets. Provided the firm has an initial quota endowment which is strictly positive, under some circumstances the firm may find it profitable to comply or even over-comply in its quota demand, even in the absence of enforcement. The results are compared to those found in the pollution permit literature for a firm with market dominance only in the permit market, to which some additional observations are also added concerning efficiency outcomes under non-compliance.