The role of satisfaction in labor diaspora dynamics: An analysis of BREXIT effects

In diaspora research, people's international mobility is often understood as a response to pull-push forces on an economic macro-level or as part of diasporic waves. However, labor diaspora formations are also influenced by micro-level (i.e., individual perceptions) drivers related to work per se, such as satisfaction. This explorative qualitative study takes a novel angle and focuses on the role of Portuguese nurses’ satisfaction with the evaluation of the Brexit scenario and its effects on this labor diaspora's mobility and stability. The findings illustrate that satisfaction, although affected by uncertainty, mainly relates to perceived working conditions and legislation and the possibilities to communicate with locals and other diasporans. This paper provides suggestions for future research and contributes to the development of theory on staying and human stickiness, explaining the dynamics of exit and entry in (re-)migration decision making.     

Non-cooperative bargaining in apex games and the kernel

This paper studies non-cooperative bargaining with random proposers in apex games. Two different protocols are considered: the egalitarian protocol, which selects each player to be the proposer with equal probability, and the proportional protocol, which selects each player with a probability proportional to his number of votes. Expected equilibrium payoffs coincide with the kernel for the grand coalition regardless of the protocol. The equilibrium is in mixed strategies and the indifference conditions can be reinterpreted in the language of the kernel.     

Teaching HRM in contemporary hospitality management: a case study drawing on HR analytics and big data analysis

In this article, we discuss how hospitality students can leverage new technology and new HRM metrics from a combination of a traditional format case study and innovative data spreadsheets. We offer a teaching case study that combines the strategic dimensions of HRM with practice-driven data analysis anchored in HR analytics and HR big data mining. We argue that this combination helps identify, develop, and promote appropriate managerial skills among students.     

It’s so hot: predicting climate change effects on urban tourists’ time–space experience

Abstract

Progressive changes in mean annual temperatures are arguably the strongest evidence of ongoing climate change. In destinations with a Mediterranean climate, in contrast to the colder months, during summer, rising air temperatures are believed to inhibit tourist movements and activities, and consequently affect tourists’ evaluation of and satisfaction with their experiences. To the best of our knowledge, no previous study has investigated the potential impact of climate change on tourists’ time–space activity using actual behavioural tracking-based information. Data collected via GPS technology and a post-visit survey of tourists (n = 404) visiting Lisbon during the summer were analysed via structural equation modelling (PLS-SEM). The results report empirical evidence of the present impact of (summer) weather on urban tourists’ time–space activity and on their intra-destination experience evaluation. Specifically, maximum air temperature is found to have a significant negative effect on overall satisfaction, while the meteorological conditions of the entire day reveal a significant impact on tourists’ activities and movements. The results are particularly useful for the sustainable adaptive management of urban attractions and destinations that are especially vulnerable to climate change, as well as in managing its adverse impact on tourists’ experiences.     

Sell‐Side Analyst Bias When Investment Banks Have Privileged Access to the Board

Research on analyst bias typically identifies affiliation with reference to a subset of the mandates that could give rise to incentives for bias in a multifunction investment bank. This paper develops a new measure of affiliation based upon the UK practice of corporate broking. An advantage of this approach is that affiliation is no longer restricted to isolated equity issuance events as it is an ongoing activity. This research shows that prior US evidence regarding the “Global Settlement” is robust to this new measure and application in the United Kingdom rather than solely the United States. The paper uses a hazard rate methodology focusing on the timeliness of revisions to address selection bias concerns.     

Optimal group size in microlending

Microlending, where a bank lends to a small group of people without credit histories, began with the Grameen Bank in Bangladesh, and is widely seen as the creation of Muhammad Yunus, who received the Nobel Peace Prize in recognition of his largely successful efforts. Since that time the modeling of microlending has received a fair amount of academic attention. One of the issues not yet addressed in full detail, however, is the issue of the size of the group. Some attention has nevertheless been paid using an experimental and game theory approach. We, instead, take a mathematical approach to the issue of an optimal group size, where the goal is to minimize the probability of default of the group. To do this, one has to create a model with interacting forces, and to make precise the hypotheses of the model. We show that the original choice of Muhammad Yunus, of a group size of five people, is, under the right, and, we believe, reasonable hypotheses, either close to optimal, or even at times exactly optimal, i.e., the optimal group size is indeed five people.

     

Bitcoin fluctuations and the frequency of price overreactions

Financial Markets and Portfolio Management - This paper investigates the role of the frequency of price overreactions in the cryptocurrency market in the case of BitCoin over the period...     

What Do We Know About Annuitization Decisions?

Against the background of aging societies and increasing life expectancies, the protection of individuals from outliving their savings has become increasingly relevant. Annuities represent insurance against longevity risk and can prevent old‐age poverty. The aim of this article is to present the current state of theoretical, empirical and experimental evidence with regard to annuitization decisions. Toward this end, we conduct a systematic literature review that includes 89 articles. Based on this, we study welfare effects of mandatory annuitization, annuitization rates and the optimal fraction of wealth to be annuitized, as well as determinants of retirees’ choice to annuitize and their impact on annuity demand. Finally, we present possible solutions for overcoming the low uptake of annuities based on its causes. One main result is that behavioral biases in annuitization decisions particularly require considerably more theoretical research and empirical evidence, and that theoretical models already appear to well explain empirically observed annuitization rates.