Examining the influence of casino attributes on baby boomers’ satisfaction and loyalty in the casino industry

The baby boomer market draws attention from the hospitality industry due to its economic power and substantial size. Despite the importance of this market segment, no empirical research to date has provided effective strategies to maximise baby boomer casino visitors’ satisfaction and loyalty. The purposes of this study were: (1) to investigate possible casino attributes that influence baby boomer casino visitors’ satisfaction levels and (2) to examine how these attributes influence satisfaction level, thus resulting in the formation of loyalty. Based on a literature review, five casino attributes influencing casino visitors’ satisfaction were derived. Exploratory factor analysis conducted with 700 baby boomers resulted in the hypothesis that baby boomers’ satisfaction with a casino is determined by five casino attributes: slot machines, table games, winning perception, non-gaming-related services, and promotions and benefits. Subsequent confirmatory factor analysis and structural equation modelling analysis revealed that four of the five casino attributes derived from the literature review are key antecedents of gaming satisfaction, attitudinal loyalty, and behavioural loyalty formation in the casino industry: slot machines, table games, non-gaming-related services, and winning perception. With regard to the fifth attribute, promotions and benefits were actually not found to heavily influence baby boomers’ casino satisfaction and loyalty. Based on the findings, the key theoretical and managerial implications are discussed in the latter part of this article.     

How much is reasonable? The size of termination fees in mergers and acquisitions

We investigate termination fee size in mergers. Although the deal premium does not significantly affect fee size, smaller targets and targets with lower institutional ownership offer larger fees. Low or moderate fees do not eliminate post-announcement competing bids, while large fees do. Fee size is generally positively correlated with deal completion. However, large fees are negatively correlated with the consummation of high-premium deals. Fee size is generally unrelated to announcement-date cumulative abnormal returns. However, returns are significantly lower for deals including fees larger than 5%. Overall, the study provides evidence that low- or moderate-size fees serve as efficient contractual devices, while large fees are less beneficial to shareholders and therefore tend to suggest agency conflicts.     

Joint Taxation and the Labour Supply of Married Women: Evidence from the Canadian Tax Reform of 1988*

The Canadian federal tax reform of 1988 replaced a spousal tax exemption with a non‐refundable tax credit. This reduced the‘jointness’of the tax system: after the reform, secondary earners’effective‘first dollar’marginal tax rates no longer depended on the marginal tax rates of their spouses. In practice, the effective‘first dollar’marginal tax rates faced by women with high‐income husbands were particularly reduced. Using difference‐indifference estimators, we find a significant increase in labour force participation among women married to higher‐income husbands.     

Physical properties and degradability of PHB/chitosan blend films

Synthetic polymers are rarely degraded in nature and cause environmental pollution. Biodegradable films have been developed to alleviate the pollution. Many countries have great interests in biodegradable food packaging films. Poly (3‐hydroxy butyric acid) (PHB) is a natural biodegradable plastic with biocompatibility. However, PHB has some problems of application to the food system because it is brittle and stiff. Because PHB has a poor site for chemical modification, the blends of PHB with flexible polymers can overcome these undesirable properties. Therefore, we prepared the blend films of PHB with chitosan, analysed the mechanical properties and barrier properties against water vapour, oxygen and lipid and monitored biodegradability of PHB/chitosan films in this study. The degree of crystallinity of PHB/chitosan films by X‐ray diffraction decreased with increasing chitosan concentration. The granular sizes of the films were reduced with the addition of chitosan to the film in the micro structural observation by a scanning electron microscope. Mechanical properties, including tensile strength and percent elongation of the blend films increased with increasing chitosan ration in the films. It is demonstrated that mechanical properties of the films were improved by the addition of chitosan. The water vapour permeability (WVP) of the PHB film was the highest and WVP was decreased by the addition of chitosan. Oxygen permeability of the films decreased as chitosan amount increased. The films had very good barrier property against lipid. The consumed oxygen of PHB film was greater than that of chitosan film for incubation on the biodegradability determination of the films. Therefore, the blend films could be expected to increase the rate of degradation in natural environments.     

Destination marketing organization website visitors’ flow experience: an application of Plog’s model of personality

ABSTRACT

This study investigates the relationships among website features (i.e. informativeness, design, and interactivity), flow experience, and the user’s intention to seek and use travel information provided on destination marketing organization (DMO) websites. It incorporates the moderating effects of personality into those relationships. Respondents (n = 433) were asked to visit and explore a DMO website and then to respond as if they were planning to travel to the destination. The results show that three website features relate positively to flow experience and that flow experience contributes to behavioral intention. This study also finds that personality moderates the link between web features (informativeness and interactivity) and flow experience, the implications of which are discussed at the end of the paper.     

GAN-MP hybrid heuristic algorithm for non-convex portfolio optimization problem

Abstract

During recent decades, the traditional Markowitz model has been extended for asset cardinality, active share, and tracking-error constraints, which were introduced to overcome the drawbacks of the original Markowitz model. The resulting optimization problems, however, are often very difficult to solve, whereas those of the original Markowitz model are easily solvable. In order to resolve the portfolio optimization problem for the new extensions, we developed a novel heuristic algorithm that combines GAN (Generative Adversarial Networks) with mathematical programming: the GAN-MP hybrid heuristic algorithm. To the best of our knowledge, this is the first attempt to bridge neural networks (NN) and mathematical programming to tackle a real-world portfolio optimization problem. Computational experiments with real-life stock data show that our algorithm significantly outperforms the existing non-linear optimization solvers.     

The Carryover Effect of Customer Satisfaction on Service Quality Focused on Moderating Effect of Customer Trust and Cooperative Orientation

The current study is intended to provide a novel contribution in regards to the relationship between service quality and customer satisfaction by focusing on carryover effects of satisfaction judgment on perceived service quality of the subsequent transaction. In addition, we probe the role of customer trust in the relationship between customer satisfaction and service quality. The results indicate a cycle of customer satisfaction and perceived quality over time, which validates the concept of cycle of satisfaction. The results also indicate trust toward a service provider has a moderating role on the relationship between customer satisfaction and perceived service quality.     

Cross‐licensing and competition

We analyze the competitive effects of bilateral cross‐licensing agreements in a setting with many competing firms. We show that firms can sustain the monopoly outcome if they can sign unconstrained bilateral cross‐licensing contracts. This result is robust to increasing the number of firms who can enter into a cross‐licensing agreement. We also investigate the scenario in which a cross‐licensing contract cannot involve the payment of a royalty by a licensee who decides ex post not to use the licensed technology. Finally, policy implications regarding the antitrust treatment of cross‐licensing agreements are derived.     

How you see yourself influences your color preference: Effects of self-construal on evaluations of color combinations

The present study examines the role of self-construal in the preference for analogous versus complementary color combinations. The majority of previous research on color has been limited to exploration of single colors. However, designers and marketers often use a mix of colors whose harmony must be taken into consideration, which includes choosing whether to use colors placed next to each other on the color wheel (analogous combination) or to combine colors that are opposite each other (complementary combination). The current study proposes that self-construal influences the perception of and preference for color combinations. Individuals with interdependent self-construals tend to focus on relational similarity and value harmony, whereas individuals with independent self-construals tend to view objects as discrete and disconnected. Accordingly, the authors posited that individuals with interdependent self-construals would be more sensitive to the relationship between two colors and perceive analogous colors as more harmonious, thus preferring brands and products featuring analogous colors to those featuring complementary colors. Contrariwise, individuals with independent self-construals would display indifference in this regard. The hypotheses were confirmed in four studies employing various colors to form analogous and complementary color combinations.