Spatio-temporal determinants of the structural and productive transformation of regions in Central and East European countries

This paper investigates the determinants of the structural (between-sectoral) and productive (within-sectoral) transformation of 56 NUTS2 regions in Central and East European (CEE) countries over the 2008–2014 period. Over the analysed period, a transformation of the analysed regions has taken place towards the tertiary sector and high value-added activities. The results from a spatial panel Durbin analysis reveal the existence of product-space linkages and point to a productive transformation towards high technology-intensive activities as an important driver of industrial development. Equal access to digital infrastructure in urban and rural areas and transfer of skills, knowledge and resources through the inflow of foreign investment and imports of production inputs increase the contribution of manufacturing to regional employment. The effect of profit tax reductions on the share of manufacturing employment is about five times larger than the effect of government subsidies to production.     

Modelling perceived quality,visitor satisfaction and behavioural intentions at the destination level

Visitor perceptions of the quality of a tourist destination, satisfaction with their experience and the resulting behavioural intentions are vital for successful destination management and marketing. The purpose of our research is to explore the complex relationships between these constructs using structural equation modelling, whereby both formative and reflective constructs are included. The structural model was tested on a sample of 1056 visitors at four tourist destinations in Slovenia. The empirical validation of the conceptual model supports the research hypotheses. Destination attributes affect the perceived quality of tourist offerings, which positively relates to satisfaction as well as visitors' behavioural intentions. The link between satisfaction and behavioural intentions was also confirmed. These research findings contribute to a better understanding of which behavioural mechanisms and factors represent a viable basis for increasing customer retention at the level of individual providers as well as a destination as a whole.     

Economic growth in South-eastern Europe: the role of the banking sector

This article analyses the relationship between banking sector efficiency and economic growth using a panel data analysis of six South-eastern European countries during the period 1995–2005. The analysis is concentrated on the banking sector because other segments of the financial market are underdeveloped in our sample of countries. We measure the qualitative development in the banking sectors by using the margin between lending and deposit interest rates as well as the share of non-performing loans. By applying the panel data method in a growth-type equation setting, we confirm that improvements in banking sector efficiency, measured through the decreasing interest rate spread, exerted a positive influence on the growth rate of the countries in the region.     

The view from above: the relevance of shared aerial drone videos for destination marketing

ABSTRACT

The use of drones to produce videos has generated a large amount of visually appealing footage of various destinations. They attract much attention, but there are issues that affect their production, and their relevance to destination marketing. This research examines YouTube meta-data and spatial overlay analysis of shared aerial drone videos from the United Kingdom (UK). The results suggest that shared aerial drone videos have some unique user-generated content (UGC) characteristics and their spatial distribution tends to favor more populated areas. Theoretical and practical implications for destination marketing are further discussed.     

The moderating effects of gender on customer satisfaction and continuance intention in mobile commerce: a UTAUT-based perspective

ABSTRACT

The purpose of the study is to investigate the moderating effects of gender on proposed model relationships. In order to test the moderating effects of gender on the relationships of the model developed, multi-group SEM was applied. Performance expectancy was found to be the strongest predictor of satisfaction and comparative value was identified as the main driver of continuance intention. In addition, significant difference in attitudes between women and men were confirmed in the case of three out of ten effects. The originality of the study is its measurement of the moderating effects of gender on user satisfaction in relation to m-commerce and continuance intentions.     

Uhljeb – a post-socialist homo croaticus: a personification of the economy of favours in Croatia?

Party patronage combined with a collectivist culture appears to present a very resistant socialist legacy in Croatia. In-group favouritism and an overly bureaucratised system provide a fertile soil for uhljebs. An uhljeb is a public sector employee whose main ‘competence’ is membership of a political party or a nepotistic relationship. They now already count in the thousands, and often contribute to the further multiplication of uhljebs, and to an increase in clientelist arrangements. The practice of employing uhljebs both undermines and underpins the existing system. That ambivalence is one of the characteristics of the Russian sistema, and that is one of the important links to compare blat users and uhljebs, in addition to the practice of ‘pulling strings’. As key protagonists, uhljebs and blat users illustrate their own and society’s modus operandi: an intense ‘economy of favours’. Recent studies increasingly show that cultural variables influence economic outcomes and this article presents an extension of the ‘economy of favours’ into Croatia’s paradigm. Based on primary sources and international benchmarks, it provides a comparison of the cultural contexts of Eastern and Western European countries, and portrays a rising informal practice that, despite its omnipresence, has been under-researched in the academic literature.     

Privatization,market competition,international attractiveness,management tenure and hotel performance: Evidence from Slovenia

This paper tests several hypothesis related to the impact of privatization, market competition, management tenure and international attractiveness on the cost efficiency of tourist hotels. We measure efficiency using the innovative Bayesian frontier methodology. The data involve a sample of Slovenian hotels which operate in a highly dynamic environment. From the results, it is clear that hotel efficiency is positively related to privatization and international attractiveness, and negatively related to longer management tenure. No significant link, on the other hand, is found between market competition and hotel efficiency. Further discussions of these findings and related managerial implications are provided.     

The influence of the political environment and destination governance on sustainable tourism development: a study of Bled,Slovenia

In the context of sustainable tourism development, there are many studies about the exchange process between residents and tourism, yet this issue is practically unexplored with respect to the political environment of tourism. Therefore, this paper introduces and posits that the political environment is a necessary enabler for implementing sustainable tourism. The authors extend the established three-pillar sustainability concept by adding in the political dimension. Then they surveyed how residents' positive and negative perceptions of tourism impacts determine their satisfaction with life in the tourism destination and thus their support for tourism in their community. The model was empirically tested within the context of the long-established Alpine destination of Bled in Slovenia. The findings confirm the importance of the political environment and question the sustainability of Bled's tourism development. It is suggested that the community has relatively weak destination governance due to the underdeveloped political environment. The survey expands and deepens the tourism sustainability debate by adding in the political environment and how it relates to the emerging growth of research on destination governance. The proposed model can be adapted and applied to any destination in order to improve its governance, including the implementation of sustainable tourism development.     

On measuring skewness and kurtosis

The paper considers some properties of measures of asymmetry and peakedness of one dimensional distributions. It points to some misconceptions of the first and the second Pearson coefficients, the measures of asymetry and shape, that frequently occur in introductory textbooks. Also it presents different ways for obtaining the estimated values for the coefficients of skewness and kurtosis and statistical tests which include them.     

Variable neighborhood search heuristic for nonconvex portfolio optimization

Abstract

In this article we consider a portfolio optimization problem under multiple real-world constraints, such as: cardinality constraints, tracking error, active share, and turnover. We propose a heuristic based on variable neighborhood search (VNS) that effectively addresses additional constraints that introduce non-convexities. In the VNS-based heuristic, several neighborhood structures are introduced and fast local search is implemented. We develop a VNS portfolio rebalancing framework (VNS-PRF) with two rebalance strategies. Data sets provided by a financial investment firm are used to evaluate the validity and reliability of the proposed VNS-PRF. Computational experiments and different portfolio performance measures indicate that our approach is able to obtain solutions with competitive quality and can be applied on large-scale data sets.