Food product attributes guiding purchasing choice of maize meal by low-income South African consumers

This study ascertained the food product attributes prioritised by low-income and very low-income consumers when purchasing their staple food, maize meal. Survey results from 502 Gauteng respondents in three informal settlements and one formal settlement revealed the level of importance perceived for 14 predetermined attributes. The informal settlement consumers' ratings for product acceptability and convenience closely matched those of the formal settlement, but the more affluent respondents gave them higher ratings. The ratings for appearance, value for money, product quality, texture, product safety, brand loyalty and nutrient content were significantly similar between the two low and between the two very low income groups, but significantly different between the former two and the latter two, specifically for nutrient content. The informal settlements rated satiety value and affordability as the most important, while the formal settlement reported taste and appearance. These findings represent both a challenge and an opportunity for food product developers.     

Emerging Stars and Developed Neighbors: The Effects of Development Imbalance and Political Shocks on Mutual Fund Investments in China

This paper examines the influence of regional economic development on mutual funds investment decisions. Using fund holdings from 2003 to 2008, we find that Chinese mutual funds that collectively reside in the developed coastal region have the ability to select “star” firms from neighboring inland areas and overweight them in their portfolios. However, they present a clear local bias within the coastal region. Such investment behavior is robust to political interventions. In particular, changes in political climate make mutual funds seek fundamentals like growth prospects and diversification benefits. Overall, economic and political factors significantly influence mutual funds investment decisions in emerging China.     

Along came a mega-event: prospects of competitiveness for a 2010 FIFA World Cup™ host city

South Africa's hosting of the 2010 FIFA World Cup? came at a time when countries and cities worldwide were increasingly competing for this sought-after status. The benefits and challenges of such an event have received significant attention from researchers and practitioners alike. No tourism destination is guaranteed long-term competitiveness by being offered the once-off opportunity to host a major international event. This study aimed to determine whether a mega-event would make a greater or lesser contribution to the long-term competitiveness of the host destination given the extent to which it was being addressed at a strategic level. Existing literature on destination competitiveness and mega-events was studied to identify relevant issues that would have to be addressed at this level. Primary and secondary qualitative data were collected from a host city on the eve of the 2010 FIFA World Cup? to place these issues into perspective. The empirical findings indicate how a mega-event can contribute to the competitiveness of a destination if it forms part of a broader event strategy; if the necessary leadership is in place; and stakeholder roles have been clarified.     

Is Real Earnings Smoothing Harmful? Evidence from Firm‐Specific Stock Price Crash Risk

This study examines whether and when real earnings smoothing influences firm‐specific stock price crash risk. Using a sample of U.S. public firms for the years 1993 through 2014, we find real earnings smoothing to be positively associated with firm‐specific stock price crash risk. This finding is consistent with the view that real earnings smoothing helps managers withhold bad news, keep poor‐performing projects, conceal resource diversion, and engage in ineffective risk management, which increases crash risk. Further, we find a stronger relation between crash risk and real earnings smoothing when firm uncertainty is higher, product market competition is lower, and balance sheet constraint is higher. Overall, our study suggests that real earnings smoothing destroys shareholder value in that it increases stock price crash risk.     

First-time versus repeat visitors to a music festival in South Africa

This research segmented visitors to Spring Fiesta, a music festival aimed at the House, Hip Hop and Kwaito music festival market in South Africa, based on the frequency of visits to distinguish between first-time and repeat festival attendees. A research survey was done over four years (2013–2016) and 788 visitor questionnaires were included in the analysis. Independent sample t-tests, two-way frequency tables, and Chi-square tests were used to analyze the data and segment first-time and repeat visitors based on socio-demographics, behavioral characteristics, and overall satisfaction and travel motivations. These differences should be considered when the festival program is designed and marketed.     

Segmentation by genres: the case of the Aardklop national arts festival

The purpose of this study was to distinguish between genre supporters and non‐genre supporters at the Aardklop National Arts Festival. This was done to determine genre supporters' individual needs and wants so that effective marketing strategies can be developed and the festival programme can be designed to attract more genre supporters. Previous research indicated that the future of festivals is dependent on the number of show tickets sold and festivals therefore need to attract more genre supporters. To achieve this goal, a questionnaire survey (N = 495) was conducted, where afterwards independent t‐tests were used to determine the differences between visitors who attend the different ticketed shows/productions and those who do not. Results showed that genre attendees and non‐attendees differ significantly based on socio‐demographic and behaviour characteristics, which gave a comprehensive profile of the two types of visitors at the festival. This method proved to be successful especially in increasing ticket sales. Marketing and management implications for effectively targeting genre supporters were also indicated. Copyright © 2010 John Wiley & Sons, Ltd.     

中国、印度和美国，谁更需要谁？

我从来没有去过印度，但在和国际友人的交流中，印度像一个冉冉升起之星不断被提及。Eliza教授去印度前，我们就约定写一点关于中国．印度和美国之间关系的文章。她刚从印度回来就写电子邮件告诉我她对印度复杂的感觉：可以触摸到的贫困差距和极差的公共设施，同时这个国家似乎又进入了国际主流社会，人们说着流利的英语和拥有迅速发展的软件业……     

Inflation Developments in the Euro Area Since the Onset of the Pandemic

There is hope that the Russian war on Ukraine could expedite the energy transition in Europe leading to a new and more environmentally sustainable steady state.