Measuring the Effects of Film and Television on Tourism to Screen Locations: A Theoretical and Empirical Perspective

It is generally believed that consumption of film and television products can induce tourism to destinations featured. We review the literature relating to this, examine it from the perspective of mass communications theory and develop a general causal model to measure the influence of screen products on visitor numbers. The model is quantified by way of a survey at two popular UK destinations. Our conclusions are that the contributions of screen products to visitor numbers are fractional, diffuse and substantial. We further find that the magnitude of the effect differs greatly between destinations and that this is related to background causes independent of screen effects.     

Segmenting East Asian Tourists to Greece by Travel Motivation

This study compares the push and pull motivations of East Asian (Japanese, Chinese and Korean) tourists who visit Greece and also proposes market segmentation based on travel motivations that transcend the national boundaries of those countries. Four main push factors were identified: “Knowledge”, “Ego-enhancement”, “Escape & Relaxation” and “Novelty”. Similarly, four pull factors were also identified: “Leisure, shopping and safety”, “Variety and cost”, “Culture & heritage” and “Travel arrangements and facilities”. Cross-cultural differences were found regarding the importance of travel motivations. Chinese tourists scored higher than other nationalities for almost all motivation categories. Although the cross-cultural differences are important, this study proposes another way to tackle the market segmentation by conducting an international segmentation based on inherent similarities across different nationalities of travelers. Three segments emerged from that analysis with the “Novelty Seekers” to be the largest followed by the “Want-it-All” and the “Lowly Motivated”.     

Forecasting Demand for Australian Passports

We forecast demand for Australian passports using a number of univariate and multivariate forecasting models, and assess their relative predictive ability over a number of forecasting horizons and evaluation measures. Our key result is to use different forecasting models for predicting passport demand in the short- versus medium- to long-run. Specifically, to forecast Adult-and-Senior passport demand in the short-term (i.e. up to 12 months) univariate ARIMA models are preferred, while for the longer term forecasts multivariate models with exogenous variables outperform, although only marginally. To forecast passport demand for Minors (less than 18 years old) ARIMA models perform well both in the short-term and the long-term, although ARIMA with explanatory variables outperforms slightly.     

ASSESSING THE SAMPLES OF PRIOR ORGANIZATIONAL RESEARCH

The sampling designs used in organizational research have been less than consistent across different reported studies. In this analysis we examine the reported relationships among several key organizational variables in ten separate previously published studies to determine the degree to which major differences in sample designs have influenced findings. We isolate that portion of reported associations due to unique characteristics of the samples and report the association these ‘sample design effects’ have with particular sample designs. Results indicate homogeneous samples of organizations inflate reported relationships yet leave significant sources of variation uncontrolled in sample selection. an alternative to sampling of homogeneous organizations is suggested by the fact that larger and probabilitistically selected samples are also associated with larger reported relationships among organizational variables.     

What If the Leader of the Central Bank Told Hilarious Jokes and Did Card Tricks? A Panel of Experts

Abstract . A panel of distinguished experts discuss the linkages (if any) between monetary policy and the personality of the nation's central banker. Why is the personality of a central banker important to monetary stability and financial leadership? What follows is a written edited version of the short papers that were presented at this panel. The panel was held in Olin Auditorium on Tuesday, April 25, 2006, as part of the Carpenter Lecture Series at Babson College.     

A rationale for planning: Implications from the economic theory of the firm

This paper undertakes the development of a foundation for a theory of why firms plan. The theory of the firm literature provides a useful starting-point and provides insight into the factors which have an effect on the planning function of the firm. Those factors include transactions costs, uncertainty and asset-specificity. The fact that some firms should not plan even in the face of uncertainty and transactions costs emphasizes the importance of the relative magnitudes of various costs and demonstrates the relevance of standard economic analysis for the study and practice of business planning. Examples illustrate the role of planning for human, financial and physical resources.     

RISK AND RETURN ON NEWLY LISTED STOCKS: THE POST-LISTING EXPERIENCE

Researchers consistently find that newly listed stocks underperform in the post-listing period. It has been suggested that this anomalous finding may, in part, be explained away if the risk during this period is lower than at other times. Evidence is presented here that the riskiness of newly listed stocks undergoes a seasoning process. Instead of lower risk, riskiness is found to be greater immediately after listing than in later periods. This suggests that the post-listing anomaly is actually worse than has been previously recognized.     

The Sins of Banking Regulation in the USA

The US banking system has been prone to failure, primarily because it has been mis-regulated. Banks have been restrained from diversifying and from serving their customers effectively by restrictions on branching and on products offered. But competition has been good for bank customers.