Multi-ownership of tourism accommodation complexes: A critique of types, relative merits, and challenges arising

Across the Western World there has been significant expansion in the multi-ownership of tourism accommodation complexes in recent years. Despite this development, this is believed to be the first study to attempt a holistic synthesis of the range of forms and structures that multi-owned tourism accommodation (MOTA) complexes can assume. A spectrum of MOTA types is developed based on the notion that MOTA complexes can exhibit varying degrees of ownership. This synthesis of MOTA types lays the basis for an evaluation of the relative merits of different MOTA types. A commentary is provided concerning the difficulty of quantifying MOTA growth and the nature of challenges that MOTA can present to a range of stakeholders.     

Rethinking the agrarian question: Agriculture and underdevelopment in the Global South

In recent years, agriculture has come to be seen as increasingly irrelevant to processes of industrialization and economic development in the Global South. The integration of developing economies into global capitalism and the continued advance of structural transformation would seem to indicate that there is no longer a classic “agrarian question” in the developing world. In other words, agriculture is no longer a major barrier to capitalist development in these countries. However, there is reason to doubt this growing consensus. This article argues for a rethinking of the agrarian question in the Global South and presents evidence that capitalist property relations have not penetrated agriculture throughout much of the developing world. Contrary to recent trends in the literature, I argue that not only is there still an agrarian question in the Global South but also that it remains central to explaining lower levels of industrialization in these countries and, thereby, their relative underdevelopment.     

A review of the nature and growth of multi-titled tourism accommodation complexes

The growth of multi-titled tourist accommodation (MTTA) complexes represents a significant addition to our conventional conception of forms of short-term accommodation. MTTA complexes are assuming a variety of forms and appear to be proliferating in many parts of the world. This study investigates the international growth of MTTA, with particular emphasis attached to the Australian experience. It also outlines the nature of the new MTTA paradigm, advances a typology of MTTA organisations and identifies the factors accounting for the increased incidence of MTTA.     

英国养老金的发展

英格兰对退休雇员给付养老金已经有很长的历史。1269年国王亨利三世因仆人威廉年纪大、身体弱,授予他每天4便士的养老金。本文先勾画自那时起的养老金历史发展,然后讨论当前养老金的问题,最后预测今后10年英国养老金的发展。     

OPTIMIZATION‐BASED PROCUREMENT FOR TRANSPORTATION SERVICES

This paper presents the concept of optimization‐based procurement for transportation services. The approach allows both the shipper and carriers to benefit through the use of a collaborative approach to securing and managing a strategic relationship. Because the shipper's assignment problem involves a combinatorial number of choices and cannot be easily executed manually, the procurement process benefits strongly from the use of optimization. The authors introduce the optimization‐based procurement process, briefly analyze the theoretical issues, and discuss lessons learned from its application in practice over the last several years.     

The economic costs and benefits of UK defence exports

This study examines the economic costs and benefits to the UK of a 50 per cent cut in UK defence exports from the average level of 1998 and 1999. The net impact on the government budget is estimated to be an ongoing loss of between around £40 million and £100 million a year: around 0.2–0.4 per cent of the total UK defence budget. In addition, there is estimated to be a one‐off net adjustment cost, spread over five years, of between £0.9 billion and £1.4 billion. A further more speculative adjustment cost (estimated at around £1.1 billion) could result if the loss of income associated with the ‘terms‐of‐trade£ effect were also included. In terms of the wider debate about defence exports, the results of this study suggest first that the economic effects of the reduction in defence exports are relatively small and largely one‐off, and secondly that the balance of arguments about UK defence exports should be determined mainly by non‐economic factors.     

Information Transfers across Same–Sector Funds When Closed–End Funds Issue Equity

This study examines the reaction of non–issuing, same–sector funds when a closed–end fund announces a seasoned equity offering. The non–issuing, same–sector funds have a significant, negative announcement–day abnormal return. The abnormal returns for U.S. debt funds are less negative than U.S. equity and international debt funds. The abnormal returns for international debt funds are more negative than international equity funds. Announcement–day abnormal returns are directly related to the announcement–day abnormal return of the issuing fund and the premium/discount of the issuing fund. Announcement–day abnormal returns are inversely related to the premium/discount of the non–issuing, same–sector funds.