Residents’ perspectives of a newly developed ecotourism project: an assessment of effectiveness through the lens of an importance–performance analysis

Understanding the perceived importance and performance of various components of ecotourism to residents living in the area it is undertaken is crucial to the overall success of an ecotourism development project. This study examines residents’ perceptions of the importance and performance of ecotourism components (i.e. environmental conservation, economic wellbeing, promotion of local arts and culture, local participation, and fair share of resources), including overall ecotourism development, at the Gaurishankar Conservation Area (GCA) – a recently implemented ecotourism development project in Nepal. This study also examines the effect of socio-demographic, economic, and psychological factors on a perceived gap between the importance and the performance of ecotourism components. Findings suggest that the ecotourism development project at the GCA should concentrate on improving the economic wellbeing of residents, and on overall ecotourism development. Findings also suggest that residents’ inclusion in benefit-sharing mechanisms was associated with a reduced perceived gap between the importance and performance of ecotourism components. A comparison among different geographical segments of residents indicated that the perceived gap between importance and performance varies across different locations.     

Suboptimal international equity portfolio diversification and stock market development

Review of Quantitative Finance and Accounting - This paper examines whether the widely reported phenomena of home and foreign biases (i.e. suboptimal international equity portfolio diversification)...     

Transparency in IPO mechanism: Retail investors’ participation,IPO pricing and returns

Using data from the transparent Indian IPO setting, the paper examines retail investors’ participation, their influence on IPO pricing and the returns they make on IPO investment. The transparency in the mechanism, which allows investors to observe prior investors’ participation, leads to demand which is concentrated at either one or two points of the offer price range. Analysis of investors’ demand during the offer period shows that the participation of retail investors is significantly influenced by the participation of institutional investors. We examine IPO pricing and find that favourable demand by retail investors is positively associated with a high IPO price even after controlling for demand by institutional investors. Further, we find that due to aggressive bidding by overconfident investors, retail investors are, on average, unlikely to make positive allocation weighted initial returns even in a setting where they do not have to compete with institutional investors. Retail investors, however, can earn significant positive allocation weighted initial returns if they limit their participation in IPOs with above average institutional investors’ demand.     

浅析高校辅导员思想政治教育工作中“爱”的艺术

加强和改进大学生思想政治教育．是新时期的一项重大而紧迫的战略任务。高校辅导员要积极探索和思考做好本职工作的思路。辅导员不但需要有承担责任的勇气。更需要有爱的灌注。爱学生是有效开展大学生思想政治教育工作的重要手段。爱工作是做好大学生思想政治教育工作的动力之源。爱自己。不断提升自身的综合素质,做好榜样示范作用是从事大学生思想政治教育工作的价值追求。     

Determining the impact of age and LOS on job satisfaction: a case study of Pakistan automotive industry

This research was conducted to ascertain the impact of age and length of service (LOS) on job satisfaction in engineers of Pakistan public sector. Field survey was conducted using job satisfaction survey (JSS) questionnaire having closed-ended questions. Multistage sampling was conducted using a combination of cluster sampling, stratified sampling and random sampling techniques. Power and Precision software was used to determine the sample size. JSS questionnaires were administered amongst 225 electrical and mechanical engineers from five public sector organizations. 158 usable questionnaires were received and data were analyzed in SPSS. Statistical analyses showed existence of an open mouth U-shaped relationship between LOS/age and job satisfaction. It was found that age moderates relationship between LOS and job satisfaction. Non-responsiveness of senior engineers led to one of the limitations of this study. Results of this study can be used for policy-making decisions.     

Foreign ownership and the enforcement of corporate governance reforms

This study examines whether a stronger corporate governance enforcement regime influences the investment decisions of foreign portfolio investors in an emerging market context. Using a natural experiment provided by an Indian corporate governance regulatory reform introduced in 2000, but for which stricter sanctions for non-compliance were imposed in 2004 our results provide strong evidence that governance reforms that include stricter sanctions for non-compliance lead to higher foreign ownership. Depending on specifications, the difference-in-differences estimates show that, on average, the effect is up to 2.8% increased foreign ownership post regulatory reform of 2004. The paper adds to the debate on simultaneity between foreign ownership and corporate governance as we show that in the context of an emerging market corporate governance regulations are extremely important in attracting foreign investors. In the context of prevalence of weak enforcement (of existing regulations) in emerging markets, this study provides empirical support to the notion that strictly enforcing the existing governance regulations has the potential to attract higher level of foreign investment. The results suggest that policy measures aimed at attracting foreign investors in emerging markets should not only concentrate on adopting the best international corporate governance practices but should also signal strong enforcement of these regulations by assigning significant penalties for non-compliance.

     

Impact of cooperative membership on market performance of Nepali goat farmers

In developing countries, agricultural cooperatives are increasingly used by farmers as a mechanism to gain market power in input and output markets. To assess the impact of cooperative membership on market channel selection and pricing outcomes, we conducted a survey of 661 Nepali goat farmers in 2019–20 and applied an endogenous switching probit model to analyze the data. Our findings indicate that cooperative membership had a significant and positive influence on farmers choosing cooperatives as their market channel. Additionally, farmers who sold their goats through cooperatives received significantly higher prices than those who sold through local markets or to goat collectors. We also observed that farmers who had access to price information were able to obtain better prices for their goats. Overall, our study highlights the potential benefits of promoting cooperative membership and marketing through cooperatives, as these efforts can help farmers improve the returns on their agricultural investments.     

Entrepreneurial orientation,entrepreneurial competencies,innovation, and performances in SMEs of Pakistan: Moderating role of social ties

The current study examines the mediating role of innovation and entrepreneurial competencies in entrepreneurial orientation’s relationship with financial, social, and environmental performance. This research also determines the role of social ties in strengthening the association between innovation and entrepreneurial competencies with social, financial, and environmental performance. Using multi-source and time-lagged studies, the data was collected from 297 small and medium-sized enterprises (SMEs) in Pakistan, and structural equation modeling was used to test direct, indirect, and moderating hypotheses. The findings show that entrepreneurial orientation, entrepreneurial competencies, and innovation positively correlate with all the types of performance under investigation and confirm the mediating role of innovation and entrepreneurial competencies. Additionally, social network ties strengthen innovation—financial performance, and entrepreneurial competencies—social performance relationship. This research proposes significant theoretical and managerial implications by determining the impact of entrepreneurial orientation on SMEs in Pakistan.