Traffic evacuation time under nonhomogeneous conditions

During many manmade and natural crises such as terrorist threats, floods, hazardous chemical and gas leaks, emergency personnel need to estimate the time in which people can evacuate from the affected urban area. Knowing an estimated evacuation time for a given crisis, emergency personnel can plan and prepare accordingly with the understanding that the actual evacuation time will take longer. Given the urban area to be evacuated, street widths exiting the area's perimeter, the area's population density, average vehicle occupancy, transport mode share and crawl speed, an estimation of traffic evacuation time can be derived. Peak-hour traffic data collected at three, midblock, Mumbai sites of varying geometric features and traffic composition were used in calibrating a model that estimates peak-hour traffic flow rates. Model validation revealed a correlation coefficient of +0.98 between observed and predicted peak-hour flow rates. A methodology is developed that estimates traffic evacuation time using the model.     

Green multi-tier supply chain management: An enabler investigation

Stakeholder pressure, from actors including regulators, consumers and non-governmental organizations, has made organizations more responsible for poor environmental performance of their direct and sub-suppliers. Thus, green multi-tier supplier management (GMSM) has become an emergent topic. Yet it is still unclear how to enable GMSM practices effectively, i.e. how to enable sub-suppliers' environmental performance improvement. To help address the gap in the literature, this paper aims to identify enablers for sub-suppliers' environmental performance improvement, and it further applies a Decision-Making Trial and Evaluation Laboratory (DEMATEL)-based case study method to evaluate inter-relationships among these enablers and improve the focal company's GMSM practices, by using action research (AR) method principles. The data analysis and discussion with a follow-up evaluation after two years provided insights for the successful implementation of GMSM. The results show that top managers’ support from the organizations is a prominent and necessary foundational enabler. An interesting observation is that close proximity of supply chain members is regarded as a very prominent enabler. Evaluation and feedback on these enablers two years later found that the enabler mapping was beneficial, allowing them to address the most influential enablers, and thus the GMSM practices of the focal company has been highly improved. This paper concludes with directions for further research.     

Prioritizing destination attributes for optimal resource allocation: a study of Chinese tourists visiting Britain

ABSTRACT

This study assesses the importance, performance, and the interrelationships of key destination attributes for marketing managers to prioritize resource allocation. A three-dimensional analysis of importance–performance–impact-analysis (IPIA) factors, based upon a survey sample of 275 Chinese tourists to Britain and an expert panel interview with 10 destination marketing managers is presented. Data analysis was based upon a mix of multi-criteria decision-making methodologies, the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method and the Analytic Network Process (ANP) method. The framework can be applied to prioritize resources allocation to improve customer satisfaction in other contexts, such as a sector or a specific business.     

Another Take on Real Estate's Role in Mixed‐Asset Portfolio Allocations

This article examines real estate's role in institutional mixed‐asset portfolios using both private‐ and public‐real estate indices, as a means of examining varying real estate‐related risk/return opportunities. In so doing, this article also examines the effects of: (1) increasing the investment horizon, (2) placing constraints on the maximum allocation to any one asset class, and (3) varying the risk preferences of investors. The empirical results suggest—using infinite‐horizon returns and all of the caveats that accompany such a perspective—that real estate allocations of approximately 10–15% of the mixed‐asset portfolio represent an upper bound for most investors. For those investors preferring low‐risk portfolios, (unlevered) private real estate is the vehicle serving this allocation preference; for those investors preferring high‐risk portfolios, public real estate (with its embedded leverage of 40–50%) is the vehicle serving this allocation preference—with such vehicles serving as substitutes for a variety of noncore real estate strategies. In some sense, the distinction between private and public real estate is more about the use of leverage. For those investors preferring moderate‐risk portfolios, an intermediate‐leverage approach seems optimal.     

Estimating the impact of entertainment on the restaurant revenues of a Las Vegas hotel casino: An exploratory study

Considering the growing presence of non-gaming amenities in a mature casino market such as the Las Vegas Strip, this study examined the indirect contribution of showroom entertainment to casino-operated restaurant business volumes. Using the internal data of a Las Vegas hotel casino, this research found a statistically significant and positive relationship between daily showroom headcounts and food and beverage revenues. For each additional show attendee, daily food and beverage revenue increased $6.96. This finding suggests that casino executives should consider leveraging show traffic with additional revenue-enhancing venues such as restaurants.     

The motivations and expectations of international volunteer tourists: A case study of “Chinese Village Traditions”

International volunteer tourists devote not only financial support but also time and effort to conservation, preservation, or humanitarian projects outside their original countries. The purpose of this paper is to report the results of a qualitative study on the motivations of ten international volunteer tourists who joined the “Chinese Village Traditions” expedition of the Earthwatch Institute in the summer of 2008. The main research question was, “Why do people join international volunteer tourism trips?” Eleven themes dealing with motivations emerged and were categorized into three groups: personal, interpersonal, and other. Four personal factors were measured: authentic experience, interest in travel, challenge/stimulation, and other interest. Four interpersonal factors were also considered: desire to help, interaction with locals/cultures, encouraged by others, and enhancing relationships. Other factors included unique style of the trip, time/money, and organization goal. The findings of this study echo previous literature reviews in different settings.     

The Foundations of International Business: Cross‐Border Investment Activity and the Balance between Market‐Power and Efficiency Effects

The foundational international business (IB) scholarship grappled with whether multinational enterprises (MNEs) are largely efficiency‐enhancing or market‐power inducing institutions. Contemporary scholarship, however, often associates foreign direct investment (FDI) with efficiency‐enhancing properties and thus neglects the market‐power interpretation of the MNE. Such an imbalance is problematic given that the theoretical and empirical justifications behind the field's embrace of the efficiency interpretation are not fully evident. Instead, both efficiency and market‐power effects are seemingly present in cross‐border investment activity. Based on a comprehensive sample of up to 4,361 cross‐border investments materializing between 1986 and 2010, we present theoretically‐grounded hypotheses with regard to when market‐power effects will tend to dominate efficiency effects. We find that cross‐border investments undertaken by emerging‐market MNEs in both developed and emerging markets tend to involve substantial efficiency effects and minimal market‐power effects when compared with the cross‐border investments undertaken by developed‐country MNEs in both developed and emerging markets.     

The spillover effects of infill developments on local housing prices

This paper examines the spillover effects of infill developments, which involve developing vacant or under-used parcels within existing urban areas that are largely developed, on local housing prices. Employing a difference-in-difference specification on a sample of 275 new developments and 55,887 sale transactions of houses in Singapore, we find that infill developments have a positive and persistent impact on local housing prices. The contagion effect is larger for infill developments that are built on teardown sites. The spillover effect can also be traced to the overpricing of new homes by developers. Overall, the evidence indicates that developers act as price leaders and contribute significantly to price discovery in the local housing market.