Factors affecting the service quality of the tour guiding profession in Macau

This study examines the factors affecting the service quality of the tour guiding profession in Macau. In‐depth interviews were conducted with representatives from the Macau Tourist Guide Association, the Macau Government Tourist Office and selected practising tour guides to explore the issues from multiple insiders' perspectives. The factors identified were classified into six categories: unhealthy business practices, market domination, immaturity of tourist market, changing tourist behaviour, intense competition between inbound tour operators and human resource issues. The findings suggest that a number of these problems actually originated from the unhealthy business practices of the tourist‐generating country, namely mainland China in this study. Considering the growing importance of the Chinese outbound tourism market, the study findings will be of significant value to Macau and to other destinations targeting the Chinese market. Copyright © 2009 John Wiley & Sons, Ltd.     

Deploying Self-Service Technology in Luxury Hotel Brands: Perceptions of Business Travelers

Traditional brick-and-mortar companies are embracing the use of self-service technology (SST) to enhance the services they offer and to gain customer loyalty. The objectives of doing so are to stay at the forefront of today’s marketplace and improve service, efficiency, and profitability. However, SST directly eliminates the traditional service encounter from which luxury hotels benefit. With the rising popularity of SST and benefits it brings to both hoteliers and customers contradicting the importance of the personal service encounter to luxury hotel brands, it is critical for hoteliers to learn about the importance of SST and luxury brand identity in order to bring the greatest satisfaction to both parties. This article examines business travelers’ perceptions of SST adoption by luxury hotel brands in Hong Kong. The results emphasize the importance of both personal service and SST in satisfying customer needs and in increasing profitability.     

The quest for a successful career change among elite athletes in France: a case study of a French rugby player

The present paper considers the issues surrounding the social, professional and family (re‐) integration of end‐of‐career professional athletes in France. Drawing on the case of French rugby player Marc Cécillon, a former captain of the national team whose descent into alcoholism culminated in his conviction for murder of his wife in August 2004, it examines how sports institutions fail to meet athletes' aspirations and needs for support. Drawing on a series of interviews with representatives of sports institutions and analysis of print media coverage, the research investigates the issues surrounding career‐change difficulties for professional athletes. It demonstrates through the story of Marc Cécillon why the career of professional sportsmen and women cannot be divorced from their social trajectory. Rather than acknowledging this, however, the sports institutions concerned are seen to attribute blame for any ills affecting French rugby to exterior causes, such as individual weakness. By rejecting responsibility in this way the sporting ‘family’ falls apart, removing any support system and denying athletes the information and guidance necessary to manage their career change effectively. This is particularly significant for team players, who have been in a subservient position in relation to their clubs and can therefore suffer identity uncertainty from this lack of guidance. The case study suggests that French sports institutions do not play their role in preparing athletes for the realities of a new life based on different values and different social relations.     

The growth of point source plumes at Rayleigh numbers up to 108 and Prandtl numbers up to 1000

Two-dimensional numerical simulations were conducted of the growth of thermal plumes from a point heat source at Rayleigh numbers up to 108 and Prandtl numbers up to 1000. Scaling the convection equations by the free fall velocity rather than the thermal diffusivity, increased the Prandtl number range available to numerical simulation by one order of magnitude from Prandtl number 100 to 1000. We present animations showing how the plumes grow with time for different Prandtl numbers. Plumes with Prandtl numbers around 7 (water) were found to be unstable to sinuous instabilities; whereas those at Prandtl numbers of 1000 had straight stems and fewer sinuous instabilities. Wavelet analysis was used to analyze the scales at which plumes initiated, and the scales at which sinuous instabilities occurred. The scale of both the plume structures and instabilities was found to decrease with Prandtl number.     

When technological discontinuities and disruptive business models challenge dominant industry logics: Insights from the drugs industry

An industry's dominant logic is the general scheme of value creation and capture shared by its actors. In high technology fields, technological discontinuities are not enough to disrupt an industry's dominant logic. Identifying the factors that might trigger change in that logic can help companies develop strategies to enable them to capture greater value from their innovations by disrupting that logic. Based on analyzing the changes that biotechnologies and bioinformatics have brought to the drug industry, we identify and characterize three triggers of change that can create disruptive business models. We suggest that, in mature industries experiencing strong discontinuities and high technological uncertainty, entrants' business models initially tend to fit into the industry's established dominant logic and its value chains remain unchanged. But as new technologies evolve and uncertainty decreases, disruptive business models emerge, challenging dominant industry logics and reshaping established value chains.     

The Impact of Accounting Conservatism on the Compensation Relevance of UK Earnings

Abstract

It has long been established that because of accounting conservatism, the contemporaneous correlation between returns and earnings is lower (higher) for good (bad) news firm-years. Meanwhile, prior analytical agency work suggests that the compensation role of accounting earnings is potentially greater (for tasks such as noise filtering and incentive balancing) when the contemporaneous correlation between earnings and returns is lower. Hence, since accounting conservatism implies that earnings have a lower correlation with returns in good news firm-years, the present paper hypothesises that UK CEO cash compensation exhibits a stronger (weaker) sensitivity to accounting earnings in good (bad) news firm-years. The empirical findings offer substantial support for this hypothesis and are robust to alternative estimation methodologies. In addition, the results appear not to be attributable to the well-established impact of earnings persistence on the compensation–earnings association. Overall, the findings are consistent with the notion that UK compensation committees appear to take cognisance of the impact of accounting conservatism when awarding earnings-based compensation. In addition, the present work offers additional insights into the nature of the interaction between the contracting and valuation roles of accounting numbers.     

Deirdre Mccloskey,Kirznerian Growth and The Role of Social Networks

This article expands on the view of Deirdre McCloskey that the economic growth of the Western world since the end of the eighteenth century can be explained by the process of entrepreneurial change as expounded by Israel Kirzner. This article argues that while Kirzner's approach to economic development is indeed fruitful, it should be augmented through the study of social networks, which McCloskey has largely ignored. When social networks are seen in the light of the Kirznerian process of entrepreneurship, they represent an important institution that relays information about the proper identification and perception of opportunities.     

Export orientation and technical efficiency: clothing firms in China

Based on 287 of the largest clothing manufacturing firms in southern China in terms of output value, we employed data envelopment analysis to estimate the technical efficiency of the sample firms. A regression analysis was conducted to examine the effects of export orientation on technical efficiency. Our results suggest a U‐shaped relationship between export ratio and technical efficiency. The specific nature of the industry in Guangdong province can explain that clothing firms with a high degree of sales in the domestic market or with a high level of export orientation experience a higher level of technical efficiency than those firms trying to conquer both the local and the overseas markets. Copyright © 2010 John Wiley & Sons, Ltd.     

Efficiency and Equity in Funding for Government Schools in Australia

This study measures cost inefficiency for government school in New South Wales, Australia using a two‐stage data envelopment analysis (TSDEA) model and the inefficiency‐effects model (Battese & Coelli, 1995). The study found overall primary schools are 75 per cent and secondary schools are 89 per cent cost efficient. However, cost efficiency for primary schools has decreased and for secondary schools has increased marginally over the study period. The study found that social disadvantage in primary schools exerts a strong negative impact on students’ achievement scores causing inefficient use of available resources. For secondary schools no such conclusive relationship is observed.