Does Saying ‘Yes’ to Capital Inflows Necessarily Mean Good Business? the Effect of Antimoney Laundering Regulations in the Latin American and the Caribbean Economies

This study explores the level of compliance and the subsequent economic performance of states in the context of anti‐money laundering (AML) regulations. Following Holmstrom and Tirole (1997) and Obstfeld and Rogoff (1998), we examine why countries admit illicit flows of money and the economic costs of these transactions. Analyzing 36 Latin American and Caribbean jurisdictions between 1960 and 2010, we find that poor institutional performance by a jurisdiction (AML ratings, blacklists with non‐cooperator countries, and corruption indicators) affects negatively the investment ratio to GDP, the FDI ratio to GDP, and financial development (ratio of credit markets to GDP). These findings are novel in the literature, offering an important contribution to the debate on financial regulatory convergence.     

Transfer of labour‐management partnership in multinational companies

There has been a growing interest in how multinational corporations transfer various management practices from one country to another. The positions vary from an extreme where all practices will become globally standardised; to claims that the local context will be a decisive factor. In this article, the research question is why an MNC would want to transfer the partnership practice and what the key elements to success might be. As pointed to, partnership is a part of the company's business system, the way they are used to operating. Also important is that the risk of failing in terms of technological issues was important, and thus commitment and cooperation are crucial. Success can be understood by their effort to reduce the institutional distance as much as possible, including the choice of location, hiring policy emphasis on education and training, the strategy of building strong connections to the senior shop steward.     

Contingent Employment Relationships Between Tour Guides and Tour Operators in Ecuador: Human Resource Management Practices and Attitudinal Outcomes

This study examines a unique contingent employment relationship—that between tour guides and tour operators in Ecuador. Linkages among tour operators’ HR practices, interactions between operations managers and tour guides, and the tour guides’ attitudes toward both the tour operator and the ultimate tourist-client are investigated. Tour guides are found to exhibit dual commitments to both operators and tourist-clients. Affective commitment to the tour operators was found to partially mediate the relationship between organizational entry HR practices, compensation related HR practices, operations manager interactions, and tour guides’ commitment to the tourist-client, suggesting that tour guides’ perceptions about the tour operator may affect their ultimate customer service delivery. Satisfaction with tips was more directly related to commitment to the tourist-client, as was the interaction of pay administration satisfaction and tip satisfaction, supporting the notion that contingent pay beyond base pay provided by the tour operator and its delivery may impact tour guides’ motivation to provide quality service to the end client. Practical implications for the tour operators, and tourism ministries are offered.     

Behind the masks: Tourism and community in Sardinia

This paper addresses community-based tourism and raises questions concerning the meaning of the term. Desired results may not be achieved through strict application of the concept in the absence of external inputs in all but a few favoured cases. Tourism, by definition, involves links with the outside world, raising questions concerning the types and extent of inputs that can be accepted without undermining the meaning of ‘community-based’. Through a case study of tourism in Mamoiada, Sardinia, the paper addresses the concept of community and locals’ participation in tourism development. It points out the key role played by local institutions and cosmopolitan locals, who are residents with external exposure, who are able to take initiatives and act as catalysts of development. Tourism planners should carefully evaluate the institutional arrangements, including the presence of cosmopolitan locals and their involvement in the creation of competitive local attractions, for the success of tourism development.     

Using screen video capture software to aide and inform cognitive interviewing

Web-based surveys are a salient tool in the repertoire of social and behavioral scientists. The increase in web-based surveys is understandable considering the distinct advantages offered, including: (a) lower costs and reduced labor time, (b) ability to directly transfer data into statistical packages (reducing coding errors), (c) customization options enabling more attractive presentation, (d) ability to reduce respondent burden by embedding skip patterns, and (e) access to larger sample sizes in different geographic regions. It is important to note, however, that administering web-based surveys also introduces distinct sources of error (e.g., coverage, sampling and non-response). Regardless of format (e.g., paper-and-pencil or web-based), specific, prescribed steps must be followed when constructing an instrument in order to reduce survey error and lend credence to the data collected before subsequent analysis is performed. One of those crucial stages integral to the pretesting process is cognitive interviewing. Cognitive interviewing is a qualitative process, encompassing two main techniques: think aloud interviewing and verbal probing. Collectively, these two methods seek to (a) produce information on what the respondent is thinking while answering the questions, (b) the cognitive processes used to answer the questions, and (c) how the respondent answers the questions. The purpose of this article is to provide a practical guide outlining how Camtasia, a screen video capture software, can aide and inform the cognitive interview process.     

The Acquisition of Generic Skills of Culturally-diverse Student Cohorts

The changing nature of higher education and the structure of graduate labour markets have increased emphasis on employability and graduate outcomes. Universities have responded to this changed environment by embedding generic skills in the curriculum. This paper examines the generic skills that students perceived they acquired in their accounting studies in preparation for graduate employment. Given the changed background profiles of students studying accounting degree in Australia, and the employment difficulties they encounter on graduation, the study specifically addresses the perceptions of students from diverse cultural backgrounds. The findings demonstrate that, overall, students believed that their accounting course assisted in developing generic skills, while differences in perceptions were identified between different cultural cohorts. The research highlights the need to develop educational practices which embed generic skills development in the curriculum in a way that maximises the opportunities for culturally-diverse student cohorts to enhance their employment outcomes on graduation.     

Econometric measures of connectedness and systemic risk in the finance and insurance sectors

We propose several econometric measures of connectedness based on principal-components analysis and Granger-causality networks, and apply them to the monthly returns of hedge funds, banks, broker/dealers, and insurance companies. We find that all four sectors have become highly interrelated over the past decade, likely increasing the level of systemic risk in the finance and insurance industries through a complex and time-varying network of relationships. These measures can also identify and quantify financial crisis periods, and seem to contain predictive power in out-of-sample tests. Our results show an asymmetry in the degree of connectedness among the four sectors, with banks playing a much more important role in transmitting shocks than other financial institutions.     

Could farmer interest in a diversity of seed attributes explain adoption plateaus for modern maize varieties in Malawi?

This study uses new data from a household survey (n = 179) in Mulanje District, Malawi to examine whether the observed adoption plateaus for modern maize varieties in Malawi partly reflect farmer interest in a diversity of maize seed attributes. Regression results for the study area indicate that specific attributes of different maize varieties are an important influence on their use. The benefits to growing hybrid maize appear to be yield and drought tolerance. Open pollinated varieties are selected by farmers who value early maturity. Local maize varieties are popular among farm households owing to a number of favourable processing and consumption characteristics: storability, poundability, flour-to-grain ratio, and taste. Further research using nationally representative data is needed to assess whether findings for Mulanje District can be generalized to Malawi as a whole. If future studies agree with the results herein then maize breeding research programs in Malawi should consider a diversity of traits beyond grain yield to encompass the range of production, processing, and consumption attributes that are valued by farmers.     

Rejoinder to commentary on Chien, Cornwell, and Pappu (2010): Advancing research on sponsorship portfolio effects

This article responds to the issues Bibby (2010) raises in his recent commentary essay on Chien, Cornwell, and Pappu (2010). The rejoinder focuses on brand meaning's definition, measurement, construct delineation and operationalization, and cautions against outright rejection of Aaker's (1997) brand personality scale applied to the sponsorship context. Further, criticism by Bibby of employing Aaker's scale in Australia seems unwarranted given similarities in cultural values between Australia and the United States. Bibby (2010) also questions the legitimacy of event personality fit effects but the questions potentially misinterpret the construct used by Chien et al. (2010). While this rejoinder admits to the challenges of brand personality measurement, theory-testing goals of Chien et al.'s (2010) research are not compromised by the measures employed.     

Gender and Labor Attachment: Do Within‐Firms’ Relative Wages Matter?

This article addresses the issue of gender differences in labor attachment by testing for the role of intrafirm wage comparison. It makes use of a measure of firms' relative wages. The results indicate that once the forward-looking behavior of workers is taken into account, women are actually more attached employees than men. Women's attachment is also more affected by equity considerations. The analysis makes use of a dataset on short-tenure Italian workers.