Comparative Review of Research on Environmental Impacts of Tourism in English and Chinese Literatures

China is experiencing an increasingly high level of recreation and tourism use of its environments but only limited studies of the environmental impacts of tourism have been published. This paper is based upon a collection of research papers on the environmental impacts of tourism in English and Chinese, especially research on carrying capacity and the physical impacts of tourism. The paper compares the characteristics of research in English and Chinese literatures. It shows that China lags behind the western world in this research field. Chinese researchers need to: (1) be more critical of the feasibility of carrying capacity applications; (2) introduce new technologies in their research on vegetation and soil; (3) know more about the buffering effects of different kinds of tourist trails such as boardwalks, concrete trails, cross-tie trails, cobble trails and so on; (4) try to shed light on possible positive impacts of tourism; and (5) pay more attention to the protection of environmentally sensitive areas. The paper also discusses the dilemmas of research on carrying capacity and environmental impacts.     

Guide to the Ethics of Ex Parte Communications

Ex parte communications can become an administrative quagmire for anyone trying to deal with tribunals that regulate business matters. These communications involve contact between a decision maker and one party outside the presence of another, interested party. At a time when codes of ethics are enacted to make corporate financial officers and boards of directors more accountable to their stockholders, and thus, to restore the confidence of the investing public, it appears most important that administrative judges and hearing officers adhere strictly to their own Codes of Conduct. This article defines and explains ex parte contacts and consequent problems that might arise during administrative appeals. It is not the author’s intent to present the law of any specific jurisdiction, but to present a general overview of typical state law in the United States, a market of interest to many entrepreneurs and exporters worldwide.     

Understanding Audit Quality: Insights from Audit Professionals and Investors

Projects seeking to define, measure, and evaluate audit quality are on the agendas of auditing standards setters as well as audit firms. The Public Company Accounting Oversight Board (PCAOB) currently provides information regarding audit quality through the release of inspection reports, and the Board intends to establish and report audit quality indicators. To provide additional perspective on audit quality, we obtain auditors' and investors' views, definitions, and indicators of audit quality. We find that investors' definitions of audit quality focus more on inputs to the audit process than do auditors', and that investors view the number of PCAOB deficiencies as an indicator of overall firm quality. We find a consensus that auditor characteristics may be the most important determinants of audit quality, and that restatements may be the most readily available signal of low audit quality. We relate responses to a general audit quality framework, provide support for archival audit research, and identify additional disclosures that participants suggest could signal audit quality. Taken together, we provide evidence regarding the construct of audit quality in the post‐SOX environment, evaluate many of the audit quality indicators proposed by the PCAOB, and suggest avenues for future research.     

Predicting corporate financial distress: Reflections on choice-based sample bias

Financial distress precedes bankruptcy. Most financial distress models actually rely on bankruptcy data, which is easier to obtain. We obtained a dataset of financially distressed but not yet bankrupt companies supplying a major auto manufacturer. An early warning model successfully discriminated between these distressed companies and a second group of similar but healthy companies. Previous researchers argue the matched-sample design, on which some earlier models were built, causes bias. To test for bias, the dataset was partitioned into smaller samples that approach equal groupings. We statistically confirm the presence of a bias and describe its impact on estimated classification rates.     

Value Capture: A Valid Means of Funding PPPs?

This paper considers the use of value capture (VC) as a means of financing public‐private partnerships (PPPs) in the United Kingdom (UK). Although some VC techniques are used in the UK, they are employed more widely in the United States of America. After considering the traditional approach to financing UK PPPs, this paper describes the main VC finance instruments. The findings of a series of case studies are then presented and conclusions drawn. While VC financing may prove unpopular with those bearing the cost of infrastructure improvements, it is recommended that such instruments are considered by UK policy makers.     

Tourism and climate change: An international perspective

This paper addresses the implications of climate change for tourism through a survey of national tourism and meteorological organisations. While climate change may have far‐reaching consequences for tourism, it is shown that while most respondents felt that climate is important to their country's tourism industry, very few were aware of climate change research specifically related to tourism. Almost half felt climate change is or could become a significant issue in their country but almost no climate change publications with direct bearing on tourism are available. It is concluded that climate is an important determinant of tourism, and that global climate change may create new challenges, and opportunities, for the tourism industry. However, more awareness, research, and policy analysis are necessary to reduce uncertainties, further understanding, assess implications and enable the tourism industry to adapt to changing circumstances.     

The spa experience at Radium Hot Springs

This paper examines the spa experience at Radium Hot Springs from the earliest days to the present in an attempt to indicate similarities and differences between Canadian spas and those in the United States and Western Europe. Radium is examined for five time periods under the headings of environment, strategies and institutions, perceptions and attitudes, and technology. Western Canadian spas share many traits with those of the United States, especially the western states, but the emphasis on natural attractions and federal government involvement have caused them to differ from those in Western Europe.