PROCESS STUDIES OF TOURISTS’ DECISION-MAKING

We review tourism decision-making paradigms. We conclude that the literature is dominated by ‘variance’ studies of tourists’ decisions by causal analysis of independent variables explaining choices by tourists. This ‘choice set’ approach is in consonance with the need to understand important issues such as destination attractiveness and marketing. We argue that this approach does not incorporate an ontology of decision-making as a process, a deeper understanding of which may only be generated through studies that involve narrating emergent actions and activities through which individual or collective endeavours unfold. From this base we review the tourism decision-making literature and argue for the development of process studies as an important adjunct to the current body of knowledge.     

Corporate Psychopaths,Conflict, Employee Affective Well-Being and Counterproductive Work Behaviour

This article explains who Corporate Psychopaths are, and some of the processes by which they stimulate counterproductive work behaviour among employees. The article hypothesizes that conflict and bullying will be higher, that employee affective well-being will be lower and that frequencies of counterproductive work behaviour will also be higher in the presence of Corporate Psychopaths. Research was conducted among 304 respondents in Britain in 2011, using a psychopathy scale embedded in a self-completion management survey. The article concludes that Corporate Psychopaths have large and significant impacts on conflict and bullying and employee affective well-being; these have large and significant impacts on counterproductive work behaviour. There is no difference between male and female degrees of negative reaction to the presence of managers who are Corporate Psychopaths.     

The Accuracy and Incremental Information Content of Audit Reports in Predicting Bankruptcy

A series of corporate failures in which auditors failed to warn about impending bankruptcy led to widespread criticism of the UK auditing profession during the last recession. For a sample of 976 quoted companies (1987–94), this paper shows that there are two reasons why audit reports were not accurate or informative indicators of bankruptcy. First, audit reports poorly reflected publicly available information about the probability of bankruptcy. Secondly, strong persistence in audit reporting reduced the accuracy of audit reports     

The Long-Run Economic Costs of AIDS: A Model with an Application to South Africa

Primarily a disease of young adults, AIDS imposes economic coststhat could be devastatingly high in the long run by underminingthe transmission of human capital—the main driver of long-runeconomic growth—across generations. AIDS makes it harderfor victims’ children to obtain an education and deprivesthem of the love, nurturing, and life skills that parents provide.These children will in turn find it difficult to educate theirchildren, and so on. An overlapping generations model is usedto show that an otherwise growing economy could decline to alow-level subsistence equilibrium if hit with an AIDS-type increasein premature adult mortality. Calibrating the model for SouthAfrica, where the HIV prevalence rate is over 20 percent, simulationsreveal that the economy could shrink to half its current sizein about four generations in the absence of intervention. Programsto combat the disease and to support needy families could avertsuch a collapse, but they imply a fiscal burden of about 4 percentof GDP.     

The building blocks of a supply chain management theory: Using factor market rivalry for supply chain theorizing

As the supply chain discipline matures, opportunities emerge to develop or define theories that are specific to supply chain phenomenon. The current research specifies characteristics that we offer which comprise the building blocks of supply chain theory. These characteristics include the flows of material through a supply chain network, the temporal management of these material flows, the dyadic and triadic interactions of firms within the supply chain network, and the outward focus on supply chain management (SCM), in other words a supply chain orientation, of firms in a supply chain. Further, recognizing that supply chain theories must contain the previously identified characteristics, we offer Factor Market Rivalry (FMR) as a theory of SCM. FMR refers to intense battles for resource positions that are needed to manufacture, provide, or deliver firm products or services. We argue that FMR only occurs within supply chain phenomena. The piece concludes with a future research agenda based upon the practical implications of further developing FMR as a theory of SCM.     

Stakeholder Salience Revisited: Refining,Redefining, and Refueling an Underdeveloped Conceptual Tool

This article revisits and further develops Mitchell et al.’s (Acad Manag Rev 22(4):853–886, 1997) theory of stakeholder identification and salience. Stakeholder salience holds considerable unrealized potential for understanding how organizations may best manage multiple stakeholder relationships. While the salience framework has been cited numerous times, attempts to develop it further have been relatively limited. We begin by reviewing the key contributions of other researchers. We then identify and seek to resolve three residual weaknesses in Mitchell et al.’s (1997) framework, thereby strengthening its foundations for further development. We argue, first, that urgency is not relevant for identifying stakeholders; second, that it is primarily the moral legitimacy of the stakeholder’s claim that applies to stakeholder salience; and last, that the salience of stakeholders will vary as the degrees of the attributes vary. These insights inform revised definitions of stakeholder salience and legitimacy, and necessitate a new theoretical underpinning for the role of legitimacy. Finally, we present an extensive agenda for future research with the objective of refueling research in stakeholder salience.     

Capturing benefits from water entitlement trade in salinity affected areas: A role for trading houses?

While there is potential for substantial benefits from water entitlement trade, external effects such as salinity may mean that traders cannot capture these benefits. This paper demonstrates that by creating a trading house as a single seller of water entitlements, with trade profits distributed to buyers, it is possible to achieve an allocation of entitlements which gives a social outcome higher than that possible from atomistic competition for entitlements. Such an outcome may be comparable to an optimally set uniform charge for water entitlements, but the trading house mechanism has the advantage that it makes use of trade to generate information on the optimal level of charging in the presence of salinity.