Inbound tourism and long-run economic growth

There is an upsurge of literature investigating the relationship between inbound tourism expansion and economic growth with special emphasis on developing countries. Some countries – such as Spain and Italy – can be taken as examples of demonstrating such a successful trajectory. This paper provides an empirical investigation of the evolution of the Spanish and Italian economies and their respective tourism sectors from the 1950s and 1960s, respectively. This research is theoretically based on the literature on demand-based growth and the methodology adopted is that of the integration, cointegration and multivariate Granger causality tests. The results show the influencing role of inbound tourism for both economies.     

Marketing practices in the Spanish rural tourism sector and their contribution to business outcomes

This paper sets out to highlight the importance of entrepreneurial and market orientations for the success of enterprises operating out of a rural base. Using these two strategic frameworks, this paper identifies the marketing practices undertaken by rural enterprises, and evaluates their effect on business performance, on the local entrepreneur, and on the rural area itself. Enterprises operating from a rural location play a strategic role in the sustainable development of economies, in the context of which the rural tourism sector particularly stands out. The use of marketing practices appropriate to the aims, capacities and resources of such enterprises is proposed as a mechanism for improving their performance. Using the Spanish rural tourism sector as the basis, a scale measuring marketing practices, and another scale reflecting three different types of outcome – financial, those linked personally to the entrepreneur, and those in terms of development of the rural environment – are proposed and validated, and the effect of marketing practices on the performance of such enterprises is analysed. The findings, which reveal that marketing practices have a significant effect on the achievement of outcomes, have implications of interest for the literature and for practitioners in the rural enterprise sector.     

Managing knowledge through human resource practices: empirical examination on the Spanish automotive industry

This paper considers the relationship between human resource management (HRM) and knowledge management (KM). Specifically, it examines how the human resource (HR) practices that are expected to impact on employees’ abilities, motivation, and opportunity to engage in KM, do so by enabling knowledge sharing, knowledge maintaining, and knowledge creation within organizations. HRM expected to impact employees’ abilities include training and development practices. HRM expected to impact on employees’ motivation include rewards and appraisal practices. HRM expected to impact on employees’ opportunities including providing the support of trusting collaborative relationships. Therefore, HR practices impacting employees’ abilities, motivation, and opportunities are expected to be positively related to knowledge sharing and maintaining within organizations. HR practices impacting employees’ abilities, motivation, and opportunity are expected to be positively related to knowledge creation through their effect on knowledge sharing within organizations. Our research methodology uses a questionnaire survey approach to collect data from firms belonging to the Spanish automotive industry. Results from a final sample of 64 Spanish automotive firms show that HR practices aimed at motivating and giving employees the opportunity to behave as expected significantly affect knowledge sharing and maintaining. Further, knowledge sharing and maintaining is shown to mediate the relationship between HR practices and knowledge creation. The paper ends with a conclusion, limitations and implications for future research.     

Econometric estimation in long-range dependent volatility models: Theory and practice

It is commonly accepted that some financial data may exhibit long-range dependence, while other financial data exhibit intermediate-range dependence or short-range dependence. These behaviours may be fitted to a continuous-time fractional stochastic model. The estimation procedure proposed in this paper is based on a continuous-time version of the Gauss–Whittle objective function to find the parameter estimates that minimize the discrepancy between the spectral density and the data periodogram. As a special case, the proposed estimation procedure is applied to a class of fractional stochastic volatility models to estimate the drift, standard deviation and memory parameters of the volatility process under consideration. As an application, the volatility of the Dow Jones, S&P 500, CAC 40, DAX 30, FTSE 100 and NIKKEI 225 is estimated.     

The influence of modularity and industry clockspeed on reverse logistics strategy: Implications for the purchasing function

Environmental policies and recent take-back legislation pose new management challenges and require many companies to come up with new strategies and corresponding processes for recovering their products. Some leading firms have already succeeded in a field marked by ever-greater levels of uncertainty and material flows. However, simply mimicking the example of these leading companies does not seem to be suitable for all companies. A configurational approach is needed to understand why this is the case. This paper therefore considers two case studies to analyze the effects of industry clockspeed and product architecture on recovery options involving repair, refurbishing, or reuse. Its findings suggest that the recovery and reuse of key components is an economically viable reverse logistics strategy in a high-modularity case; in contrast, scrapping or recycling of materials is often the most viable strategy for integrated architectures. Different strategies must also be employed for high and low clockspeed situations. The demands that recovery activities place on a company's purchasing function is also illustrated in the second part of the paper.     

Does HRM generate ambidextrous employees for ambidextrous learning? The moderating role of management support

During the past decade, organizational ambidexterity has emerged as a central research stream in management science to investigate how organizations manage to remain successful over time. By using the lens of organizational learning, ambidexterity can be defined as the simultaneous pursuit of exploratory learning and exploitative learning. In this study, we attempt to bring human resource management into the forum by introducing and testing how human resource (HR) systems affect the firm's ambidextrous learning. We show how high-involvement HR systems may support ambidextrous learning by stimulating firm employees to behave ambidextrously. We also emphasize the moderating role of management support in sustaining ambidextrous learning through high-involvement HR systems. A field study of 182 companies from Spain showed that high-involvement HR systems were positively related to ambidextrous learning and validated the moderating role of management support.     

Franchisors' disclosure duty: market transparency and franchisee protection

The franchisee is usually the most vulnerable part of the franchise relationship, and should therefore receive greater protection from the legal framework. In this regard, the franchisor's pre-contractual disclosure duty has evolved in its legal status. Whereas its original purpose was to ensure transparency in the market, it now serves to protect the franchisee. In this paper, we compare the franchisor's obligations established by the legal framework in Spain with those set out in the Model Law drawn up by The International Institute for the Unification of Private Law.     

Who is behind the sustainable purchase? The sustainable consumer profile in grocery shopping in Spain

Studies of sustainable consumer profiles are mainly label‐specific and focus on Organic or Fair Trade labels. As a result, when the sustainable consumer is defined, there is a sense that only one profile exists. If each label has a different positioning strategy and has different requirements, the buyers of these products may also be different. Through the use of consumer panel data, this paper aims to deepen the understanding of the household demographic profiles of consumers of sustainable brands in order to discover if there is a single sustainable consumer profile or whether there is diversity associated with different labels. This study reveals profile differences and these provide better understanding of the complexities of sustainable consumption. It reveals that the profiles of sustainable buyers are not the same across all labels and this should be taken into account by awarding institutions when designing and evaluating their positioning strategies.     

Corporate Social Responsibility as a Strategic Shield Against Costs of Earnings Management Practices

We highlight how Corporate Social Responsibility (CSR) can be strategically used against the negative perception from earnings management (EM). Using international data, we analyse the effect of CSR and EM on the cost of capital and corporate reputation. Results confirm that CSR strategy is positively valued by investors and other stakeholders. Contrary to EM, CSR has a positive effect on corporate reputation and lowers the cost of capital. In addition, we also find that the favourable effect of CSR on cost of capital is consistently more intense in firms that show signs of EM indicating that the market does not identify when CSR practices are used as a strategy to mask EM. We also demonstrate how institutional factors influence the above relationship.     

Alcohol demand among young people in Spain: an addictive QUAIDS

This paper analyzes the demand for alcoholic beverages among young people in Spain. To that end, we develop a theoretical model which combines elements from the Theory of Two-Stage Budgeting and the Theory of Addiction, with this being empirically translated into a Quadratic Almost Ideal Demand System (QUAIDS) in which the particular characteristics of young people are introduced by Price Scaling (PS) techniques. We then estimate this specification by using data drawn from the Spanish National Survey on Drug Use in the School Population (2000) and the Spanish National Household Survey (2000). Given that wine, beer and spirits all have normal demands, our results suggest that a tax increase imposed with the intention of reducing alcohol consumption would appear to be efficient. This paper was partially written while Ana Isabel Gil was a Visiting Researcher at the London School of Economics and Political Science, to which she would like to express her gratitude for the hospitality and facilities provided. An earlier version of this paper has been presented at the Spanish Economic Analysis Meeting-2003 (Sevilla, Spain) with all the comments made by the participants being appreciated. Finally, the authors would like to express their thanks for the financial support provided by the Spanish Ministry of Education-CICYT and the European Commission (Project 2FD97-2057). The usual disclaimer applies.