Geotourism and geoparks as novel strategies for socio‐economic development in rural areas

Geoparks, as an innovation for the protection of natural and geological heritages, play an important role in the development of geotourism. While developing geotourism, the establishment of geoparks can generate new job opportunities, new economic activities and additional sources of income, especially in rural regions. It encourages the production of local products and local handicrafts involved in geotourism and geoproducts. This paper discusses the role played by geoparks in improving the economy of local populations. To this end, 25 geopark strategies were analysed (20 in Europe and 3 in Asia [Malaysia, Japan and Iran], 1 in Australia and 1 in South America [Brazil]). Copyright © 2010 John Wiley & Sons, Ltd.     

The effect of crises on firm exit and the moderating effect of firm size

The liability of smallness assumption suggests that smaller firms face higher exit risks. However, does it apply during crises? We show that during downturns size reduces firms’ exit risk by less; the hazard rate increases more rapidly in size.     

The Impact of Public Support on SMEs' Outward FDI: Evidence from Italy

This paper evaluates the impact of public financial support to the internationalization of small and medium enterprises. We analyze the growth performance of firms that conducted outward foreign direct investments in the period 1994–2008, comparing firms that benefited from public support (380) with a sample of firms that also internationalized their activity in the same period but without any incentive (508). The econometric results, stemming from a two‐step treatment effect model, reveal that incentives are effective in enhancing firms' performance in terms of domestic turnover and productivity growth, especially when they are targeted at smaller and younger firms. Moreover, the effect of the incentives is enhanced for firms that have accumulated international experience.     

Exploring multiple eco-routing guidance strategies in a commuting corridor

The introduction of eco-routing systems has been suggested as a promising strategy to reduce carbon dioxide emissions and criteria pollutants. The objective of this study is to scrutinize the impacts of an eco-routing guidance system on emissions through the use of a case study in a commuting corridor. This research aims at assessing the potential environmental benefits in terms of different pollutant emissions. Simultaneously, it addresses the extent of variations in system travel time (S_TT) that each eco-routing strategy implies. The methodology consists of three distinct phases. The first phase corresponds to the adjustment of a microsimulation platform of traffic and emissions with empirical data previously collected. Second, to volume-emission-functions (VEF), developed based on the integrated modeling structure. Final, to different scenarios of traffic flow optimization performed at the network level based on a simplified assignment procedure. The results show that if the traffic assignment is performed with the objective to minimize overall impacts, then the total system environmental damage costs can be reduced up to 9% with marginal oscillations in total S_TT. However, if drivers are advised based on their own emissions minimization, total system emissions may be higher than under the standard user equilibrium flow pattern. Specifically, environmentally friendly navigation algorithms focused on individual goals may tend to divert traffic to roads with less capacity affecting the performance of the remaining traffic. This case study brings new insights about the difficulties and potentials of implementing such systems.     

Are “Education Lotteries” Less Regressive? Evidence from Texas

With little exception, research has shown that state-sponsored lotteries are regressive in the aggregate, in that lottery sales do not increase proportionately with area income. We test whether the purpose of lottery revenues mitigates this spatial regressivity. In August of 1997, the statutory earmark for Texas Lottery proceeds moved from the General Fund to the Foundation School Fund, which supports K-12 education. Beginning in 2000, the lottery was increasingly marketed as a funding stream for public schools. Drawing on a content analysis of lottery commission press releases from 1993 to 2006, we find that Instant game sales were modestly responsive to education messaging, in that sales became noticeably less regressive in the wake of more intense reminders of the education component of the state lottery. It is likely that unobserved heterogeneity in local sales factors played a much bigger role than education marketing.     

Irrational Exuberance, Entrepreneurial Finance and Public Policy

Unrealistic optimism is a well documented phenomenon. This paper argues that it is important in many economic contexts. Focusing on start-up finance for businesses, optimism may be responsible for or consistent with features such as credit rationing or redlining that are normally taken as symptoms of under-provision of finance requiring intervention to expand lending. Optimism leads to the opposite conclusion, at least if it is legitimate to use fiscal policy to counteract systematic error. The paper reports on an experiment in which, due to optimism, the lower the prizes to entrepreneurial activity the higher the subject's expected income.     

Diverse socializing patterns in rural tourist experiences – a segmentation analysis

Tourism is a social phenomenon and host–guest interaction has been identified as particularly relevant in the rural tourism experience. This paper extends previous research on social interaction, rural tourism and experience marketing, by analysing, via visitor survey (N?=?819), the contacts that visitors of three Portuguese villages establish with (a) residents and (b) other visitors during their stay. A cluster analysis based on interaction patterns identifies three distinct visitor groups: those showing little interest in interaction with others, those mainly interacting with other visitors and those intensely interacting with residents. Significant differences between segments reveal distinctly lived rural tourism experiences and a positive impact of socializing on these experiences. Destination management and marketing implications as well as suggestions for future research are also presented.     

Directions in scenario planning literature - A review of the past decades

This paper provides a systematized overview of patterns in the scenario planning literature published in the last decades. Recently, scenario planning has enjoyed a revival, apparent in the ‘boom’ in published research on the matter. Consequently, a major issue that needs to be addressed is how to organize the literature along precise lines. A number of reviews that describe the current status of the body of literature and knowledge on scenario planning have made attempts to respond to such requirements. These studies agree that systematizing the existing literature is a necessary step in developing the field. This paper aims to contribute to this purpose. The review of the academic literature here conducted is thought to be useful for both academics and practitioners. For researchers, this systematic overview will be constructive not only in providing an analysis of the directions of published research but also in setting up a research agenda for the future. For managers and practitioners, it provides a clear outline of firm-related articles and discusses their contribution from a managerial point of view. It also raises awareness with regard to future analytical methods, and in particular, to scenario planning and its potential contribution to the competitiveness of firms. The research was carried out under the research Project Enterprise of the Future of the University of Aveiro.