An integrated approach to measuring potential spatial access to health care services

In recent years there have been several attempts to develop quantitative measures of potential spatial access to health care services which, despite their limitations, offer many positive ideas that can perhaps be integrated into a logically consistent and generally acceptable index. It is in this vein that the current paper presents an integrated approach, drawing partially from past contributions, to measuring potential spatial access to health care services. The final access index is derived as the culmination of a series of individual measures, starting with an initial gravity formulation and progressing through successive stages as new elements, consistent with the definition and conceptualization of potential spatial access, are introduced. Application of the proposed index to the ambulatory medical care system of the Akron, Ohio SMSA, demonstrates the validity of the measure, and its suitability as a potential health care planning tool.     

Convertible Bond Issues: Evidence from Security Markets

A convertible bond (CB) is a hybrid security containing elements of both common stock and straight debt. Still, empirical investigations on CB issue announcements have failed to discern any pattern in the stock market reaction that is consistent with announcements of either common equity or straight debt issues. This study shows that (a) motives for issuing the CB and (b) its rating (and to a less extent the riskiness of the issuing firm) help explain the stock market reaction to CB issue announcements. Specifically, announcement of a CB issue with an explicitly stated motive for the use of proceeds, when coupled with a high (low) bond rating, generates a stock market response similar to a straight debt (common stock) issue. On the other hand, the preference of CB holders is dictated by the motive for the use of proceeds and the conversion premium. These findings highlight the critical importance of the motive of issue in determining reactions in both the stock and bond markets.     

UNLISTED TRADING PRIVILEGES,LIQUIDITY, AND STOCK RETURNS

In this study we examine the effect of dual trading through unlisted trading privileges (UTPs) on liquidity and stock returns. Stocks with UTPs trade in a different market structure than stocks listed and traded only on the AMEX and NYSE. Differences in market structure may affect stock returns through liquidity services provided by the competing markets. The sample comprises 852 AMEX and NYSE firms that began unlisted trading on the Philadelphia, Pacific, Midwest, or Cincinnati exchanges between 1984 and 1988. The results show significantly positive abnormal returns around the SEC's announcement of a regional exchange's filing for UTPs. The results also suggest that increased competition improves trading liquidity. Only stocks with low liquidity before UTPs announcements experience significantly improved liquidity and positive stock returns.     

The stability of the production function and the marginal productivity of inputs: An empirical study

This paper tests for the stability of the aggregate production function of the United States from 1929 to 67 with two inputs (labor and capital) and with three inputs (labor, capital, and real balances). The results show parametric instability regardless of the inclusion of real balances. Using the varying parameters estimation method allowing for permanent and transitory shifts in the parameters, time-series estimates of the marginal productivity of capital, labor, and real balances are derived for the period 1929–1967. The temporal behavior of the marginal productivity of real balances is briefly analyzed.     

Poverty in the third world: Ugly facts and fancy models

It is argued that the evidence from Asia indicates that despite the rise in average incomes the incidence of rural poverty has shown little tendency to diminish and in many cases the standard of living of some groups and classes, notably the landless, actually has declined. It then is suggested that the reasons for this have less to do with aggregate or sectoral rates of growth than with the interaction between the structure of the economy and four dynamic processes. Finally, the limitations of conventional theories and models are indicated and an alternative framework of analysis is proposed.     

Exploring the Impacts of Service Guarantee Strategy

This study examines the impacts of service guarantee in terms of consumers' perceived purchase risks, loyalty, complaint behaviors, and intent to use “word-of-mouth” within the context of the casual dining restaurant segment. The scenario method was developed and used to test the research hypotheses. The results of the study reveal that a well-executed service guarantee could reduce consumers' perceived purchase risks, and increase a positive word-of-mouth and customer loyalty. On the other hand, it also raises consumers' intent to complain upon service failure. Furthermore, the results of the study indicate that a “specific” service guarantee is much more effective in reducing consumers' perceived purchase risks, and increasing consumers' intent to claim after a service failure as opposed to an “unconditional” service guarantee. The results of the study suggest that a service guarantee offered by independent restaurants could offer a competitive advantage over brand restaurants not offering a service guarantee.     

An Analysis of Tourism Trends in Mauritius 1979 to 1998

A longitudinal analysis of tourism trends in Mauritius is conducted using published statistics and reports compiled by the Government of Mauritius. A number of trend indicators and ratios are derived and plotted as time series data from 1979 to 1998. Interesting trends emerge that may be of value to other Indian Ocean Island tourism agencies and analysts. The ratios calculated are as follows: number of nights spent per tourist, discounted earnings per tourist, discounted earnings per night, contribution to GDP per tourism earnings, discounted contribution to GDP per tourist, percentage of nights spent in hotels, nights spent per tourist in hotels and nights spent per tourist in informal accommodation, average expenditure per tourist accommodated in hotels and average expenditure per tourist accommodated in informal accommodation (private bungalows, boarding/guest houses and homes of friends/relatives).

The main findings are that the continued success of tourism in Mauritius rests significantly on tourists accommodated in the informal accommodation sector and that tourist spending in real terms in Mauritius has declined from 1990 to 1997.     

Impact of ethical leadership on creativity: the role of psychological empowerment

This study examines the relationship between ethical leadership and employee creativity with mediating role of psychological empowerment. Data were collected from 183 supervisor–subordinate dyads in different hotels across Pakistan. Confirmatory factor analysis confirmed the distinctiveness of variables used in our study. The results also confirmed that ethical leadership promotes creativity at workplace, while psychological empowerment mediates the effect of ethical leadership on creativity. The cognitive evaluation theory was used to support findings. Implications are also discussed.