Comparative Review of Research on Environmental Impacts of Tourism in English and Chinese Literatures

China is experiencing an increasingly high level of recreation and tourism use of its environments but only limited studies of the environmental impacts of tourism have been published. This paper is based upon a collection of research papers on the environmental impacts of tourism in English and Chinese, especially research on carrying capacity and the physical impacts of tourism. The paper compares the characteristics of research in English and Chinese literatures. It shows that China lags behind the western world in this research field. Chinese researchers need to: (1) be more critical of the feasibility of carrying capacity applications; (2) introduce new technologies in their research on vegetation and soil; (3) know more about the buffering effects of different kinds of tourist trails such as boardwalks, concrete trails, cross-tie trails, cobble trails and so on; (4) try to shed light on possible positive impacts of tourism; and (5) pay more attention to the protection of environmentally sensitive areas. The paper also discusses the dilemmas of research on carrying capacity and environmental impacts.     

Stock Price Reaction to Non-financial News in European Technology Companies

Drawing upon a series of interviews conducted with leading practitioners and opinion formulators in the social, ethical and environmental audit arena, together with an extensive review of recent literature in the area, this paper offers a critical appraisal of current developments in the newly revitalized social audit movement. We particularly question whether in their enthusiasm for bringing social audit into the mainstream of current business thinking its advocates risk compromising the democratic ideals of the founding fathers of the movement. A particular concern raised is that without real change in corporate governance structures, social audit could become monopolized by consultants and/or corporate management and hence amount to little more than a skilfully controlled public relations exercise.     

Equality of responsibility: Cultural conditions for Western survival

Multiplying populations and communications weave an increasingly dense web of mutual interdependence, factual and psychological, and therewith multiple demands, often unwelcome, often conflicting, on the individuals whom they support. The responsibility which this imposes on individuals, and which Western societies must develop and enforce if they are to survive, is inconsistent with the concept of unqualified personal autonomy which has emerged, partly as a protest against it.     

The role of food service in tourist satisfaction

The paper is based on empirical investigation carried out amongst a 341-sample population visiting the Black Sea resorts of Romania in August 1997. The purpose of the study was to investigate the role and importance of food service in tourist satisfaction and to note any differences in satisfaction levels between regional groups. Analysis of the findings revealed that significant differences existed between three tourist groups’ satisfaction perceptions of value for money, quality of food, number of dishes, standard of food service, variety of dishes, presentation of food and speed of service in general; and of bread, coffee, meat and soup in particular. Overall results further indicated that quality of food, value for money, variety of dishes, attractiveness of surroundings and presentation of food were the attributes that most affected the overall food service experience in Romania. The paper concludes that food service is an important contributor to tourist satisfaction and that there are significant differences in satisfaction levels with food service between eastern and western European, and Romanian tourists.     

Estimating the Impact of Anti-dumping and Anti-cartel Actions Using Intervention Analysis

Intervention analysis is proposed as a method for estimating the effects of anti-dumping actions in the presence of a domestic cartel. Data requirements and modelling effort compare favourably with traditional structural model approaches. The method is applied to an anti-dumping action brought to the European Commission and in which the European producers of the product were fined after an anti-cartel action by the Commission covering an overlapping period. Interven tion analysis is applied to distinguish the effects of the anti-dumping action from those of changes in cartel behaviour     

Efficient Timing of Retirement

This study introduces a retirement decision into the classic Merton model. A familiar result is that you should retire if and when the marginal utility of another year's wages is equal to the disutility of work. A new result is that at the point of retirement your exposure to risky assets should not jump. Under power utility and constant time preference, the retirement timing problem has a closed form solution; the nine inputs to the formula in question give rise to nine comparative-static results on retirement timing. Further specialization of preferences, to log consumption utility and zero time preference, reduces the required number of inputs to four. Journal of Economic Literature Classification Numbers: E21, G11, J26.