Motivations to engage in last chance tourism in the Churchill Wildlife Management Area and Wapusk National Park: the role of place identity and nature relatedness

The threat that climate change impacts pose to rare and vulnerable destinations has given rise to a phenomenon known as last chance tourism. This travel behaviour involves tourists increasingly travelling to destinations they perceive to be critically threatened, while contributing to greenhouse gas emissions and climate change impacts in these very places. For last chance destinations to be managed effectively in the face of climate change, a clearer understanding of what drives this travel behaviour is needed. Drawing on the importance of place and nature to identity construction, this research uses a structural equation modelling approach to examine last chance tourism motivations in Churchill, Canada. Results provide evidence of a motivation to engage in a last chance experience. They also indicate that this motivation is related to a desire to share a connection to nature with similar individuals, and to become part of the local story. Beyond this, results show that visitors' sense of place identity and nature relatedness contribute significantly to their motivation to engage in last chance tourism. Findings from this research are important to the management of last chance destinations, including protected areas that are legislated to preserve significant natural and cultural features.     

Understanding the quality–quantity conundrum of customer referral programs: effects of contribution margin,extraversion, and opinion leadership

Firms can substantially profit from customer referrals, but they must understand the different stages of the referral process to determine what drives the number of referrals (first stage), conversion (second stage), and average contribution margin per referral (third stage). Applying a framework that integrates perceptual and behavioral drivers, this study uses a financial services company’s customer survey and transaction data to investigate how the effect of contribution margins of referring customers at all three stages depends on their perceived extraversion and opinion leadership. Extreme extraversion and opinion leadership diminish the positive effect of the contribution margins of referring customers on the number of referrals; their effect on the number of successful referrals is insignificant. In terms of the contribution margin of successful referrals, extraversion has a negative and opinion leadership a positive moderating effect.     

Gradualism in the GATT: Strategic tariff bargaining and forward manipulation

This paper examines strategic bargaining in a non‐cooperative game of tariff negotiation in the General Agreement on Tariffs and Trade (GATT). In the model, a country bargains sequentially and bilaterally with multiple trading partners under the MFN principle, making take‐it‐or‐leave‐it offers consisting of tariffs and transfers. A dynamic bargaining inefficiency arises in which the country strategically delays the reduction of its tariff until the final stage, and extensions to the model demonstrate gradual trade liberalization over multiple stages. Based on this idea of forward manipulation, the theory provides an explanation for gradualism in tariff reduction during the early GATT rounds.     

Properties of knowledge base and firm survival: Evidence from a sample of French manufacturing firms

The paper analyzes the effects of the properties of firms' knowledge base on the survival likelihood of firms. Drawing upon the analysis of the patterns of co-occurrence of technological classes in patent applications, we derive the coherence, variety and cognitive distance indexes, accounting respectively for technological complementarity, differentiation and dissimilarity in the firms' patent portfolios. The results of our analysis are in line with the previous literature, showing that innovation enhances the survival likelihood of firms. In addition, we show that the search strategies at work in the development of firms' knowledge base matter in reducing the likelihood of a failure event. Knowledge coherence and variety appear to be positively related to firms' survival, while cognitive distance exerts a negative effect. We conclude that firms able to exploit the accumulated technological competences have more chances to be successful in competing durably in the market arena, and derive some policy implications concerning the role of public intervention in the orientation of search efforts in local contexts.     

Perception and reality of managing sustainable coastal tourism in emerging destinations: the case of Sihanoukville,Cambodia

The emergence of Sihanoukville as a coastal destination came at the time when the global community was calling for sustainable practices. As one of the newly emergent coastal resorts in Asia, Sihanoukville has the advantage of learning from other, less sustainable Asian destinations. The Cambodian Government has partnered with international agencies in drawing up programs and incorporating practices to make the destination more sustainable. This research seeks to better understand the effectiveness and success, or otherwise, of implementing sustainability programs for tourism development, especially for an Asian coastal destination. The aim is to compare the sustainability practice outcomes according to differing stakeholders and their perceptions of sustainability. The research identifies gaps between policies and their implementation where the intent is to highlight those aspects of contemporary resort growth that need greater attention by policy makers and planners. Generally, it was found that there was alignment between the perceptions and the reality of sustainable tourism practices within and across the stakeholder groups. Where notable differences in perception arose, it was often linked to the group's mission or self-interest that influenced the views of these stakeholders. The research also points to the challenges ahead for all stakeholders in managing coastal destinations sustainably.     

The Textual Contents of Media Reports of Information Security Breaches and Profitable Short-Term Investment Opportunities

Information security-related incidents continue to make headlines. Interestingly, researchers have found mixed results when attempting to associate reports of information security breaches with changes in the affected firm's stock price. This research delves further into this puzzle by investigating the association between the textual contents of information security breach media reports and the stock price, as well as the trading volume reactions of the affected firm(s) around the breach announcement day. Our findings suggest that when the textual contents of breach reports provide more detailed information regarding the incidents, a more consistent belief is formed by the market about the negative impact of the reported security incident on the firm's business value. However, when there is a lack of specific information regarding the reported breach, the market does not seem to reach consensus on the impact of reported security incidents. We further demonstrate that different perceptions exist among general and sophisticated investors regarding the impact of reported information security incidents on a firm's future performance as demonstrated by changes in trading volume. By exploiting the different perceptions among investors, we form a trading strategy to demonstrate that, on average, one can make about 300% annual profit around the breach announcement day.     

The CBD Mortality Indexes: Modeling and Applications

Most extrapolative stochastic mortality models are constructed in a similar manner. Specifically, when they are fitted to historical data, one or more series of time-varying parameters are identified. By extrapolating these parameters to the future, we can obtain a forecast of death probabilities and consequently cash flows arising from life contingent liabilities. In this article, we first argue that, among various time-varying model parameters, those encompassed in the Cairns-Blake-Dowd (CBD) model (also known as Model M5) are most suitably used as indexes to indicate levels of longevity risk at different time points. We then investigate how these indexes can be jointly modeled with a more general class of multivariate time-series models, instead of a simple random walk that takes no account of cross-correlations. Finally, we study the joint prediction region for the mortality indexes. Such a region, as we demonstrate, can serve as a graphical longevity risk metric, allowing practitioners to compare the longevity risk exposures of different portfolios readily.     

Firm development as an integrated process: with evidence from the General Motors�CFisher Body case

This paper argues that an adequate approach to the firm should be able to accommodate the complexities of actual firm development. The latter is conceptualized in terms of three general stages: prime movers or drivers of change, change processes, and change attractors. Furthermore, any “real-world” firm is both a technical and an institutional unit. To emphasize the importance of “real firm” analysis, the discussion presented here revolves around an understanding of the much considered case of General Motors and Fisher Body integration has developed over time. Generalization from this case suggests that an integrated view of the firm is necessary that combines the three stages and the two bases (technical and institutional). Six general perspectives on the firm are identified as having technical or institutional bases that are relevant in each of the three stages. This integrated approach to the firm is explored in terms of the general topic of firm development. It is concluded that, without an integrated approach to firm development, a potentially biased or incomplete analysis can result.     

The Use of the Repertory Grid for Collaboration and Reflection in a Research Context

The Repertory Grid (RepGrid) technique has been used extensively in Management Sciences research, including Information Systems research, in order to reveal the personal views of individual research subjects regarding the issue being studied. These individual constructs are then used to propose criteria for success amongst other things. This paper uses a distinctly different form of RepGrid, renamed a Reflection Grid, as a collaboration tool. Members of a research team use this new technique to probe their individual understanding of what happened and what was achieved during a research event and then to share these insights. Hence, not only is the application new (reflection and construction of shared meaning rather than the analysis and synthesis of personal constructs) but the original grid technique has evolved.