The perception of kosher as a third party certification claim in advertising for familiar and unfamiliar brands

This study was undertaken to investigate the inclusion of a kosher claim in an advertisement for a familiar and unfamiliar brand of breakfast cereal. Results showed that, as hypothesized, for the familiar brand a kosher third party endorsement led to significantly more kosher attribute-related thoughts, more favorable product attitude and greater purchase intention. For the unfamiliar brand, no significant impact upon these dependent measures was observed given a kosher endorsement. Findings are interpreted from a cognitive perspective regarding the salience of the kosher attribute in a product familiarity context. Managerial implications are discussed.     

The economics of enforcement: The case of OSHA

A model of enforcement is developed that determines the impacts of OSHA actions on regulated parties. This model analyzes the effect of decision procedures developed by OSHA to enforce the law and their effect on resource allocation within the firm. It is concluded that the impacts from both the initial inspection and reinspection programs on the resource allocations of firms have likely been insignificantly different from zero. If OSHA is to increase the allocation of injury control resources of firms through its enforcement program, it must increase the costs of noncompliance that it imposes on firms.     

Eurobond underwriter spreads

We examine the determinants of underwriter spreads on straight/fixed rate Eurobonds issued by US firms between 1990 and 1998. We find that underwriter spreads are influenced by: (i) the governing law as it influences the timely and orderly renegotiation of contract terms, with bonds governed by English law having significantly lower spreads; (ii) the distribution mechanism, with spreads higher on public issues than private placements; (iii) underwriter reputation, with more reputable underwriters charging higher spreads; and (iv) the choice of currency, with spreads higher in the less frequently used currencies and/or in currencies where underwriting activities are more concentrated.     

Author Index Volume 19 2001

Authors Index

Author Index Volume 19 2001     

Modelling international tourism and country risk spillovers for Cyprus and Malta

Small Island Tourism Economies (SITEs) are developing sovereign countries that rely on tourism as a source of exports, and need a consistent inflow of foreign investment in order to facilitate economic growth. Access to international capital markets helps SITEs smooth out their consumption over time, while absorbing adverse domestic production shocks. This paper provides a comparison of tourism growth, country risk returns and their associated volatilities (or uncertainty) for 2 SITEs, namely Cyprus and Malta. Monthly data are available for both international tourist arrivals and composite country risk ratings compiled by the International Country Risk Guide (ICRG) for the period May 1986 to May 2002. The time-varying conditional variances of tourism growth and country risk returns for the 2 SITEs are analysed using multivariate models of conditional volatility. Empirical results show that Cyprus and Malta are complementary destinations for international tourists. Changes to tourism patterns in Cyprus lead to changes to tourism patterns in Malta. Hence, tour operators and national tourism promotion authorities in Cyprus and Malta should collaborate closely in marketing and promoting joint tourism products. Moreover, foreign entities interested in investing in the tourism sectors of Cyprus and Malta should consider investment projects that span a long period of time. The performance of the tourism sector and the associated composite risk are independent of each other for the two countries. However, there is a direct relationship between the tourism sectors of Cyprus and Malta and their respective country risk settings.     

Redressing gender inequality in employment: the national and sub-regional policy 'fit'

This article examines the 'fit' between policy development regarding gender inequality in employment at sub-regional and national (UK) level, in particular focusing on the experience of women. Drawing on research undertaken in Coventry and Warwickshire, the article explores the question of how policy development at sub-regional level fits with national policy, and whether the sub-region is an appropriate, or effective, level at which to develop policy on gender inequality in employment. It is argued that while there needs to be recognition of the limited ability of sub-regional policy to confront structural issues, policy development at this level does offer potential strengths in redressing both gender inequality in employment and the relative lack of a gender dimension in local economic development.