The Construction of Tourist Space by Public Administration and Institutional Communication: The Image of the Brand Andalucía as a Tourist Destination

The public administration in Spain is using service public advertising to promote the brand image of one destination: Andalucía. The purpose of campaigns to promote tourism is: to increase the gross domestic product; to devise, create, and execute law-abiding messages within the public space; and to create and reinforce the values being constructed around a certain location and around its brand as a distinctive sign of that location. In this article the goal is to analyze how the public administration creates the brand image of Andalucía through the campaigns “Andalucía te quiere” (Andalucía loves you) and “Smile! You are in Andalucía.”     

Click to Share: Patterns in Tourist Photography and Sharing

Differences between tourists in photographing and photo‐sharing behaviours have been under‐researched. We examined the influence of geographic origin and travel group composition on tourist photographing and sharing. Questionnaires were used to measure photographing and sharing frequency, while participant observation afforded a deeper examination of sharing processes. Findings showed differences in photography behaviour between solo and accompanied tourists. Tourists from some continents also took and shared photographs more frequently. Observations uncovered processes connecting sharing, photographing, and content of photographs. As user‐generated content becomes increasingly influential in tourism management, attention to origin, group composition and other individual differences can help engage tourists in photographing and sharing. Copyright © 2016 John Wiley & Sons, Ltd.     

Franchising in Europe: Exploring the Case of Spain with Self‐organizing Time Maps

Economic crises affect both the organizational side and the brand side of the franchise. Using self‐organizing time maps, this study examines how franchise brand behavior influences decisions by potential franchisees in Spain. The findings confirm that franchising offers an alternative to the business turnaround strategy, which firms apply when faced with adverse changes in the environment such as those caused by the economic crisis in Spain. Results show that all franchise brands within the same sector behaved similarly, except for brands in the catering sector, which displayed varying responses to the economic changes. The authors discuss the implications of these results for future franchisees.     

Multivariate semi-nonparametric distributions with dynamic conditional correlations

This paper generalizes the Dynamic Conditional Correlation (DCC) model of Engle (2002), incorporating a flexible non-Gaussian distribution based on Gram-Charlier expansions. The resulting semi-nonparametric-DCC (SNP-DCC) model allows estimation in two stages and deals with the negativity problem which is inherent in truncated SNP densities. We test the performance of a SNP-DCC model with respect to the (Gaussian)-DCC through an empirical application of density forecasting for portfolio returns. Our results show that the proposed multivariate model provides a better in-sample fit and forecast of the portfolio returns distribution, and thus is useful for financial risk forecasting and evaluation.     

Who benefits from bilateral information exchange in a retail channel?

Retailers and their suppliers often exchange demand information, which is believed to benefit both firms and consumers. We show how such information exchange can benefit only the upstream supplier at the expense of the downstream retailer and consumers.     

Betroffenheiten von Unternehmen und Kommunen durch den Klimawandel und Handlungsoptionen

Die Klimapolitik kann nicht mehr nur aus Klimaschutzma?nahmen bestehen, sondern muss auch heute schon Anpassungsma?nahmen an die Folgen des Klimawandels ergreifen. Diese Ma?nahmen k?nnen einander unterstützen, aber auch gegenl?ufig wirken. In einer systematischen Aufstellung werden die Betroffenheit der jeweiligen Akteure erfasst und Reaktionsm?glichkeiten aufgezeigt.     

Inequality and Growth: What Can the Data Say?

This paper describes the correlations between inequality and the growth rates in cross-country data. Using non-parametric methods, we show that the growth rate is an inverted U-shaped function of net changes in inequality: changes in inequality (in any direction) are associated with reduced growth in the next period. The estimated relationship is robust to variations in control variables and estimation methods. This inverted U-curve is consistent with a simple political economy model but it could also reflect the nature of measurement errors, and, in general, efforts to interpret this evidence causally run into difficult identification problems. We show that this non-linearity is sufficient to explain why previous estimates of the relationship between the level of inequality and growth are so different from one another.     

The Fractal Structure of Real Estate Investment Trust Returns: The Search for Evidence of Market Segmentation and Nonlinear Dependency

This article presents a further test for market segmentation between the real estate market and the capital markets. We use rescaled range analysis developed in the fractal geometry literature to test for nonlinear trends in the returns series for different asset classes. We make three major conclusions: (1) the stock market displays tendencies consistent with a random walk, (2) portfolios of mortgage and equity REIT returns display tendencies consistent with a random walk and, (3) conditional upon the methods used, segmentation does not exist between different real estate markets and between the real estate and stock markets.     

Water trade in Andalusia. Virtual water: An alternative way to manage water use

The main idea of this paper is to analyse the relationships between the productive process and the commercial trade with water resources used by them. For that, the first goal is to find out, by means of the estimation of virtual water, the exported crops which have the highest water consumption. Similarly, we analyse the crops that are imported and therefore, might contribute to save water. The second objective is to put forward new ways to save water by means of the virtual water trade.This first conclusion contradicts not only the comparative advantages theory but also the environmental sustainability logic. The previous conclusion is derived from the great exports of water via potatoes and vegetables, and also via citrus fruit and orchards; and, on the other hand, from the imports, such as cereals and arable crops, with lower water requirements. The second conclusion affirms as Andalusia utilises large amounts of water in its exports, and in turn, it does not produce goods with low water requirements, the potential saving would be very significant if the terms of our trade were the other way round. We are convinced that the agricultural sector must modify the use of water to a great extent in order to reach significant water savings and an environmental sustainability path.