Comparing students by a matching analysis – on early school leaving in Dutch cities

In case of regional discretionary on the implementation of policy measures, central governments often consider differences in outcomes as an indication that one policy was more effective than another policy. If uniform incentives are provided to motivate regional policy makers, these incentives can be discouraging when the underlying populations differ. Empirically, this study compares early school leaving between the four largest Dutch cities. It shows that considering regional differences as performance measures can be dangerous if differences in population characteristics are not properly taken into account. Methodologically, this study contrasts the use of a traditional probit model with a more advanced iterative matching procedure.     

Returns and option activity over the option-expiration week for S&P 100 stocks

For S&P 100 stocks, we find that the weekly returns over option-expiration (OE) weeks (a month’s third-Friday week) tend to be high, relative to: (1) the third-Friday weekly returns of other stocks with less option activity, (2) the own stock’s other weekly returns, (3) the risk, based on asset-pricing alphas. For these same stocks, a month’s fourth-Friday weekly returns underperform modestly. We suggest the following two avenues are likely partial contributors towards understanding these return patterns: (1) delta-hedge rebalancing by option market makers, with a reduction in short-stock hedge positions over the OE week, and (2) declining risk perceptions over the OE week, as measured by option-derived implied volatilities. Our findings suggest option activity can induce reliable patterns in the weekly returns of option-active large-cap stocks.     

Global Event Management: a critique

Within the professional Event Management literature considerable claims have been made for Event Management. Investment in the area and student enrolments has risen dramatically. In some circles, Event Management is portrayed as challenging Leisure Studies and even undermining it. However, if one examines the professional literature, one quickly finds that it is overwhelmingly uncritical and self-congratulatory. The relationship between Events, manipulation, corruption and social control has not been rigorously examined. This paper distinguishes the main types of Global Event (Single Issue and Cyclical). It attempts a balanced account of the claims made by Event Management. It examines data from Live Aid, the FIFA World Cup and the Sydney Olympics to test the claims against practice. It also includes two longer examinations of Global Event Management, namely the Sydney Mardi Gras and the Live 8 (2005) concert. The paper concludes that Event Management is based in principles from neo-liberalism and communitarianism. This produces an attitude to Events and leisure which is Reformist. This perspective is contrasted with the critical tradition in Leisure Studies which supports a more radical perspective on leisure.     

Resident attitudes toward sustainable community tourism

This study examined, using social exchange theory, a range of variables involved in determining resident attitudes toward tourism development and the adoption of sustainable tourism. After a comprehensive review of the literature on the role of residents in tourism development, and of the use of social exchange theory, 430 completed questionnaires obtained in a Texas town involved in tourism were analyzed. A structural equation model was utilized to understand the effects of selected components of sustainability on the attitudes of the respondents about future tourism development and to test hypothesized causal relationships among the variables. The findings revealed that three major components of sustainable tourism, namely long-term planning, full community participation and environmental sustainability within tourism, are critically related to support for tourism and to the positive and negative impacts of tourism. The paper uses the findings to suggest critical implications that local governments need to consider when developing tourism.     

The Monasteries of Putuoshan,China: Sites of Secular or Religious Tourism?

The article reports an analysis derived from a sample of 640 respondents visiting the Buddhist site of Putuoshan that is sacred to the Bodhisattva of Compassion, Avalokitesvara. Drawing on literature and observation over a 12-month period, the article adopts a fourfold designation of visitors: Xiankes, Sushi, Sightseers, and Cultural/Heritage Visitors. Three scales are developed and exploratory factor analysis supports distinctions between the clusters with reference to motives, activities and beliefs, and the categorization is supported by logistic regression analysis. The findings are discussed in the context of destination management with reference to two considerations—namely: (a) sites of religious importance often possess secular as well as religious significance; and (b) the numbers of tourists appear to be growing, thereby raising concerns of future negative tourism impacts.     

Understanding US Traveler Behavior to Asian Countries: A Secondary Analysis Approach

Over the last few decades, US travelers have taken an increasing number of trips to Asian countries. Considering the strong growth of the Asian tourism market and the consistent growth in numbers of US travelers to Asian countries, an examination of these travelers to identify meaningful market segments can benefit Asian destination marketers in developing better marketing strategies. This study aims to conduct a distinctive analysis for segmenting the US travelers to Asia market through empirical examination. The study data set, obtained from a Travel Activity and Motivation Survey, identified three lucrative segments: ProTravelers, Safety Conscious Travelers and Traditionalists. The study presents the distinctive characteristics of the three segments and discusses managerial recommendations.     

A New Framework for Understanding Inequalities Between Expatriates and Host Country Nationals

An interdisciplinary theoretical framework is proposed for analysing justice in global working conditions. In addition to gender and race as popular criteria to identify disadvantaged groups in organizations, in multinational corporations (MNCs) local employees (i.e. host country nationals (HCNs) working in foreign subsidiaries) deserve special attention. Their working conditions are often substantially worse than those of expatriates (i.e. parent country nationals temporarily assigned to a foreign subsidiary). Although a number of reasons have been put forward to justify such inequalities—usually with efficiency goals in mind—recent studies have used equity theory to question the extent to which they are perceived as fair by HCNs. However, since perceptual equity theory has limitations, this study develops an alternative and non-perceptual framework for analysing such inequalities. Employment discrimination theory and elements of Rawls’s ‘Theory of Justice’ are the theoretical pillars of this framework. This article discusses the advantages of this approach for MNCs and identifies some expatriation practices that are fair according to our non-perceptual justice standards, whilst also reasonably (if not highly) efficient.     

I’m Number One! Does Narcissism Impair Ethical Judgment Even for the Highly Religious?

Can an assessment of individuals’ narcissism help explain the quality of a respondent’s ethical judgment? How is the relationship between religiosity and ethical judgment moderated by the effects of narcissism? With a sample of 385 undergraduate business majors, this study uses a taxonomic approach to examine the effects of intrinsic and extrinsic religiosity as well as orthodox Christian beliefs on ethical judgment. Three distinct clusters were identified: Skeptics, Nominals, and Devouts. Surprisingly, of the three clusters, Nominals and Devouts were the only groups impacted by narcissism, although Skeptics overall demonstrate the worst ethical judgment.     

Insurance and rural welfare: what can panel data tell us?

Assessing the scope for insurance in rural communities usually requires a structural model of household behaviour under risk. One of the few empirical applications of such models is the study by Rosenzweig and Wolpin (1993 Rosenzweig, MR and Wolpin, K. 1993. Credit market constraints, consumption smoothing, and the accumulation of durable production assets in low-income countries: investment in bullocks in India. Journal of Political Economy, 101: 223–44. [Crossref], [Web of Science ®] , [Google Scholar]) who conclude that Indian farmers in the ICRISAT villages would not benefit from the introduction of formal weather insurance. In this article we investigate how models such as theirs can be estimated from panel data on production and assets. We show that if assets can take only a limited number of values the coefficients of the model cannot be estimated with reasonable precision. We also show that this can affect the conclusion that insurance would not be welfare improving.     

International business research and risky investments,an analysis of FDI in conflict zones

The purpose of this paper is to examine the determinants of a firm's strategy to invest in a conflict location. To the best of our knowledge, this has not been done before. We examine this using a standard model of international business, overlaid with the fundamental approach to corporate social responsibility. We start with the population of multinationals who have chosen to invest in low income countries with weak institutions. We then split this sample in order to distinguish between firms that have invested in conflict regions compared to those that have not. Our analysis then proceeds to explain the decision of those firms to invest in conflict locations using a simple Probit model. We find that countries with weaker institutions and less concern about corporate social responsibility (CSR) are more likely to invest in conflict regions. Finally, firms with more concentrated ownership are more likely to invest in such locations.