The return from travel: a new beginning?

Within the context of the return from long-term travel, this paper uncovers the transitional and at times traumatic nature of return for 24 OE (overseas experience) travellers. Important considerations are raised in respect of easing repatriation distress among those returning from long-term travel. Contributing an understanding of the experience of return from travel, this paper proffers that return to the place one left to travel from does not necessarily mark the end of the journey. Conversely, it can mark a new beginning. As such, we argue that a broader framework for examining the travel experience is called for; notably, one that extends the examination of the travel experience to the return phase and beyond.     

Disclosure of Private Information and Reduction of Uncertainty: Environmental Liabilities in the Chemical Industry

We investigate the potential uncertainty-reducing role of accounting information in the context of contingent Superfund liability valuation. We first develop theoretical arguments for the way reduction of uncertainty regarding these contingent liabilities is expected to affect security prices. Empirical proxies are developed for two types of uncertainty surrounding contingent Superfund liabilities: site uncertainty and allocation uncertainty. In a valuation framework, we then investigate whether financial statement disclosures and accruals reduce uncertainty and thereby affect security valuation. Specifically, we analyze the interaction of private information contained in firm disclosures and accruals with inherent uncertainty surrounding contingent Superfund liabilities. Results suggest that in a regulatory environment allowing substantial reporting discretion, firm-provided financial statement information affects valuation of contingent Superfund liabilities by reducing uncertainty. Further, we find that information revealed through accruals versus disclosures is differentially effective at reducing site and allocation uncertainty.     

Models of water market mechanisms and an illustrative application to the Middle East

The growing demand by countries in the eastern Mediterranean over the waters of the Jordan and Yarmuk Rivers, and the highly depleted coastal and mountain groundwater reservoirs, raise the need to explore ways and means to ameliorate existing and expected water scarcity. Economists have for some time proposed ways towards more efficient exploitation of existing water supplies, specifically by employing market incentive mechanisms in order to encourage voluntary water sharing among countries and regions. Such trading schemes may involve two or more countries. It can be shown that such schemes — given any initial assignment of property claims to water resources — can often lead to increases in the welfare of the countries concerned.The paper proposes two specific mechanisms for international markets in water claims in the eastern Mediterranean region, in which parties voluntarily engage in such trades, as they would expect to gain real benefits from these transactions. Simulation exercises with real data show that — as is true for any opening of markets to international trade — that all parties in the region might benefit to a greater or lesser degree from auctions of water.     

Healthcare resource utilization and direct medical costs associated with index and recurrent Clostridioides difficile infection: a real-world data analysis

Abstract

Aims: This study aimed to evaluate all-cause economic outcomes, healthcare resource utilization (HRU), and costs in patients with Clostridioides difficile infection (CDI) and recurrent CDI (rCDI) using commercial claims from a large database representing various healthcare settings.

Materials and methods: A retrospective analysis of commercial claims data from the IQVIA PharMetrics Plus database was conducted for patients aged 18–64 years with CDI episodes requiring inpatient stay with CDI diagnosis code or an outpatient medical claim for CDI plus a CDI treatment. Index CDI episodes occurred between 1 January 2010 and 30 June 2017, including only those where patients were observable 6 months before and 12 months after the index episode. Each CDI episode was followed by a 14-d claim-free period. rCDI was defined as another CDI episode within an 8-week window following the claim-free period. HRU, all-cause direct medical costs and time to rCDI were calculated over 12 months and stratified by number of rCDI episodes.

Results: A total of 46,571 patients with index CDI were included. Mean time from one CDI episode to the next was approximately 1 month. In the 12-month follow-up period, those with no recurrence had 1.4 inpatient visits per person and those with 3 or more recurrences had 5.8. Most patients with 3 or more recurrences had 2 or more hospital admissions. The mean annual, total all-cause direct medical costs per patient were $71,980 for those with no recurrence and $207,733 for those with 3 or more recurrences.

Limitations: The study included individuals 18–64 years only. A stringent definition of rCDI was used, which may have underestimated the incidence of rCDI.

Conclusions: CDI and rCDI are associated with substantial healthcare resource utilization and direct medical costs. Timing of recurrences can be predictable, providing a window of opportunity for interventions. Prevention of multiple rCDI appears essential to reduce healthcare costs.     

Using managers' expectations for ex-ante policy evaluation: Evidence from the COVID-19 crisis

Evaluation of the impacts of government policies during an economic crisis is often delayed until the outcomes are realized. Policies can be better guided if they can be evaluated amid a crisis, before the realization of outcomes. This study examines whether survey data on the expectations of small business managers can help evaluate two high-stake subsidies for firms amid the COVID-19 crisis in Japan, namely, Subsidy Program for Sustaining Businesses (SPSB) and Employment Adjustment Subsidy (EAS). We evaluate the accuracy of managers' expectations, estimate the impact of subsidies on the expected firm survival, and compare it with the estimated impact on realized survival. We find that the managers' expectations on their future sales, survival rate, and the possibility of receiving these subsidies predict the realized outcomes, although they were highly pessimistic about their survival rates. We find that the estimated impacts of the SPSB on the expected survival rates have the same sign as the estimated impact on the realized survival rates, but the size is more than twice because of the pessimism on survival. The estimated impacts of the EAS are both insignificant. Therefore, although its impact may be overestimated, managers' expectations are useful for selecting an effective policy.     

Organization and Management in an Anglo-French Consortium: The Case of Transmanche-Link

This paper presents the results of a comparative organizational assessment of the behaviour and organization of the British and French managers who constructed the Channel Tunnel. In the context of a common adhocratic organization, a principal components analysis of the survey results differentiates the British and French respondents on five dimensions: fonceur /procedural; competitive/collegial; involved/distanced; individualistic/supportive; and stress. These quantitative results are supported by qualitative data from interviews and open-ended questions. A preliminary explanation of the results in terms of a configurational analysis of the differences between the British and French managers surveyed is then offered. The paper argues that an organizational assessment methodology is compatible with societal approaches which attempt to understand nationally distinctive configurations of organization and management.     

¿Trabajo no productivo? Desglose del sector del cuidado desde una perspectiva comparada

La autora analiza los ingresos de los trabajadores del cuidado en el Canadá, Estados Unidos, Japón, República de Corea y Taiwán (China) con microdatos del Luxembourg Income Study. Desagregando las definiciones existentes del trabajo del cuidado, distingue entre ocupaciones de categoría superior e inferior, según el grado de «cierre social», revelando la prima o penalización salarial asociadas en los países del estudio. También estima empíricamente las similitudes y diferencias entre países en función de su régimen de bienestar, «liberal» o de «desarrollo productivista», corroborando la hipótesis de que la globalización ha fomentado una convergencia sustancial del mercado internacional del cuidado.     

Population decentralization within metropolitan areas: 1970-1980

Using a data set that maintains geographic and fiscal continuity over time and across a sample of major U.S. metropolitan areas, the authors identify factors of economic and population decentralization that affected central city areas between 1970 and 1980. The problems of annexation are resolved by estimating population changes for central cities and suburban areas with constant 1980 boundaries, and by calculating fiscal variables from overlapping jurisdictions by city area as opposed to municipal city government only. "The empirical investigation supports the view that demographic and housing stock variables seem to have had a greater impact on decentralization than central city-suburban fiscal differences."     

Towards Understanding User Perceptions of a Tourist-based Environmental Monitoring System: An Exploratory Case Study

This paper examines user perceptions of a tourist-based environmental monitoring system which supports park visitor engagement with the environmental monitoring of specific sites within two National and one Regional Park in Victoria, Australia. The system allows park visitors (tourists) to actively participate in the care and management of the park by voluntarily contributing to web-based photographic records. The primary objective of this exploratory case study research is to identify who the tourist users are, their perceptions of the system, their motivation for using it, and the benefits that they perceive are derived from using the system. The study found that respondents indicated a strong concern for the environment and appreciated the simplicity of the system and the on-going connection it provides to the park-management process. Importantly, respondents found the system to be a valuable source of engagement with the environmental monitoring and management process.