Determinants of smallholder farmers' participation in banana markets in Central Africa: the role of transaction costs

A bivariate probit model was employed to jointly and separately estimate banana market participation decisions of buying and selling households in Rwanda and Burundi using household survey data. Selectivity bias was corrected for estimating the transacted volumes using Heckman's procedure. The results showed that transaction cost‐related factors such as geographical location of households, market information sources, and travel time to the nearest urban center influence market participation. Non‐price‐related factors such as security of land tenure, labor availability, off‐farm income, gender of the household head, and years of farming experience had a significant influence on the transacted volumes. Output prices had a significant correlation with sales volume, indicating price incentives increased supply by sellers. Generally, the findings suggest that policies aimed at investments in rural road infrastructure, market information systems, collective marketing, and value addition of banana products may provide a potential avenue for mitigating transaction costs and enhancing market participation and production of marketed surplus by rural households.     

Merger Speculation in Financial Media: The Valuation of Investigative Reporting

The authors study abnormal returns and volume in the days surrounding takeover speculation by financial media. Significantly positive price and volume responses 2 days after publication are observed. While most of this effect dissipates shortly thereafter, some excess returns remain impounded into the stock price. A study of the ex post takeover probabilities suggests that a positive response is justified, as takeover probabilities for such firms subsequently increase. This evidence is consistent with the idea that financial media speculation can facilitate the release of useful private information to shareholders. However, significantly positive excess returns and volume in the few days before publication also suggests that certain shareholders may benefit disproportionately.     

Inequality and criminality revisited: further evidence from Brazil

The objective of this study is to shed light on the determinants of criminality rates in Brazil. A panel data model was estimated using Brazilian states’ data. Our main result suggests that income inequality plays an important role in the determination of the crime rate. Furthermore, there are evidence suggesting that both unemployment and urbanization rates are positively related to crime. Based on a GMM approach we find the existence of an “inertial effect” on criminality. Besides that, the GMM results show that public security spending is effective in reducing criminality rates. Contrary to the common wisdom, we could not find evidence that poverty increases violent crimes. Finally, we have evidence that income inequality Granger causes crime, but not the reverse.     

Sustainability through food and conversation: the role of an entrepreneurial restaurateur in fostering engagement with sustainable development issues

Food justice, food cultures and people's engagement with healthy food production and consumption are key contemporary concerns, with a growing sustainable hospitality and tourism literature. Efforts range from narrowly focused initiatives, such as promoting organic produce and fair trade, to more holistic challenges to current systems through initiatives like the slow food and locavore movements, which may represent systemic alternatives. However, little analysis is available on how cafés and restaurants might become sites for experimentation in profitable and just sustainable hospitality, and places for sustainability engagement and education. Focusing on the evolution of a sustainable café in Adelaide, South Australia, this article explores how one entrepreneurial restaurateur uses his café to engage customers and community in a collaborative conversation about sustainable development, food, hospitality and tourism, helping transform our food culture and even lifeways. Our findings indicate the value of deep local embedding as a pathway to meaningful sustainability. The study offers insights into how hospitality and tourism can contribute to dialogues on alternative consumption which may offer visionary pathways to alternative futures. It also explores the role of pioneers in sustainable business and hospitality, their drivers and their views. A forthcoming global research initiative is discussed.     

Re-thinking Anne: representing Japanese culture at a quintessentially Canadian site

ABSTRACT

The Anne of Green Gables National Heritage Site in Cavendish, Prince Edward Island, Canada, centers around the farmhouse where author, Lucy Maud Montgomery, was raised, and serves as the setting for her classic novel, Anne of Green Gables (1908). This is thus a heritage site about a fictional character, but very real and historical to the author of the well-loved book. This paper centers on a 2015 visit to the site, where I encountered not only the expected thousands of Canadian pilgrims traipsing up and down ‘Lover’s Lane’, but a half-dozen Japanese college students interning for the summer – in costume, scattered around the site, demonstrating Japanese crafts and games for tourists. As a visitor to the site, I found myself asking: How do these Japanese traditions fit into the interpretation of this most quintessential of Canadian sites? And, how does their presence alter the touristic encounter for both Canadian and Japanese visitors? The presence of Japanese interpreters at the site will thus be used to interrogate notions of the production of knowledge about ‘the other’, as well as pointing to the creation of new narratives about cultural tourism, challenging traditional notions of heritage and authenticity.     

Does excessive buying for self relate to spending on pets?

Using two studies, this article explores how a tendency to buy excessively for self relates to spending on one's pet. Existing research on excessive buying reports that these buyers spend money primarily on themselves. Excessive buying is the tendency to be preoccupied with buying and, consequently, to buy relatively more and more often than others. The first study, using a qualitative research approach, provides insights into the relationship of excessive buying for self and for pets. This study reveals that excessive buyers consider their pets as full family members and extensions of themselves. The second study, a national survey conducted via the Internet, provides a quantitative test of the relationship between excessive buying for self and spending on pets. Respondents who score high on an excessive buying index also tend to spend more on their pets for toys, food treats, clothing, accessories, and grooming products.     

Entrepreneurial beacons: The Yale endowment,run‐ups,and the growth of venture capital

Research summary : This article investigates the social context of entrepreneurship in organizational sectors. Prior research suggests that firm foundings are driven by collective patterns of activity—such as patterns of prior foundings in a given sector. Building on research on social salience and signals, we consider the influence of singular sector‐level triggers, which we call entrepreneurial beacons. We argue that the actions or outcomes of single, salient organizations attract and motivate entrepreneurs, thus increasing the rate of foundings. We test this logic by examining the impact of the Y ale U niversity endowment's investment choices and of venture‐capital‐backed IPO run‐ups on venture‐capital foundings between 1984 and 2011. We find support for the existence and influence of beacons and outline boundary conditions for their effects . Managerial summary : What leads entrepreneurs to found new companies in nascent sectors? In contrast to prior research, which emphasizes patterns of activity, we argue that entrepreneurial activity can sometimes be driven by the actions of a singular trigger—what we call an entrepreneurial beacon. We examine the influence of two such beacons, Y ale U niversity's endowment investments and exceptional venture‐capital‐backed IPO run‐ups, on the founding of new venture‐capital firms over a 28‐year period. We find that Y ale's increased allocations to the venture‐capital asset‐class has a significant influence on the founding of new venture‐capital firms, while exceptional venture‐capital‐backed IPO run‐ups only influence venture‐capital foundings under certain conditions. Overall, we offer an explanation for heretofore anecdotal accounts of certain organizations or events that appear to have an outsized influence on entrepreneurial activity . Copyright © 2016 John Wiley & Sons, Ltd.     

Improving the speed of adoption of agricultural technologies and farm performance through farmer groups: evidence from the Great Lakes region of Africa

The article examines the effect of membership in farmer groups (MFG) on adoption lag of agricultural technologies and farm performance in Burundi, the Democratic Republic of Congo and Rwanda. We use duration and stochastic production frontier models on farm household data. We find that the longer the duration of MFG, the shorter the adoption lag and much more so if combined with extension service delivery. Farmer groups function as an important mechanism for improving farm productivity through reduced technical inefficiency in input use. We discuss policy implications under which farmer groups are a useful channel to reduce adoption lag, and the means through which improved farm performance can be achieved.