Destination Ireland: an ancestral and emotional connection for the American tourist

The direction of the research in this paper is dictated by the particular characteristics attaching to the special relationship that exists between Ireland and the USA. In order to understand the complexities that govern the motivating factors underlying American tourist interest in Ireland, this research examines the singular historical, psychological, emotional, and connectional dimensions that will afford us the knowledge from which deductible theories, conclusions, and recommendations can be extracted. This paper, therefore, seeks to outline the historical framework governing the development of the relationship between the USA and Ireland, and identifies the historical, ancestral, emotional, and connectional factors that bind the two nations. This research presents new empirical findings on the American tourist's quest for ancestral tangibility in destination Ireland. Destination Ireland is marketed in a highly competitive environment and the future of the Irish tourism industry will inevitably be dependent on the ability of tourism industry managers to deliver new viable options and motivations to travel to Ireland. A significant finding in this current research suggests that the development of an ancestral product would address this requirement in the market place.     

Indigenous and democratic decision-making: issues from community-based ecotourism in the Boumā National Heritage Park,Fiji

Participatory development literature involving community-based ecotourism management (CBEM) has only recently addressed issues pertaining to indigenous governance and decision-making systems. This paper contributes to sustainable tourism by presenting local decision-making practices and issues arising from the perspective of the members of one village in the Boumā National Heritage Park, Fiji. It shows that introduced democratic decision-making systems may not contribute to political empowerment in CBEM and can cause difficult situations. It is argued that greater attention to local systems of governance is required if tourism practitioners are to fully understand decision-making and participation in CBEM. The paper also offers a culturally appropriate methodology that may produce more meaningful outcomes for sustainable tourism research in indigenous Fijian contexts, and in other contexts worldwide. It argues that levels of empowerment should not just be treated as the outcome but as a part of the process of tourism development. It explores the core Fijian cultural concept of vanua as a way of life, involving interrelated social, ecological and spiritual elements. An emic perspective utilising informal talanoa (discussions) is used and examined, along with the roles of kin groups, village spokesmen and clan systems, and their relationship with western business decision-making practices.     

The micro-economic effects of financial market structure: evidence from 20th century North American steel firms

This paper analyzes the historical relationship between domestic financial institutions, firm level financing decisions, and average capital costs in a sample of US and Canadian firms from a large and economically important manufacturing industry—primary steel production. We find that national capital market characteristics and firm specific characteristics were important determinants of 20th century US and Canadian steel firms’ financing decisions. We also show that, despite source-specific price differences, average capital costs were approximately equal in the two countries, and the firms’ financing decisions were important determinants of these average capital costs. We conclude that firms structured their balance sheets in an effort to exploit the idiosyncratic features of their domestic financial institutions, and thereby, minimize their average capital costs.     

Corporate social responsibility: making sense through thinking and acting

This article investigates how companies make sense of CSR. It is based on an explorative comparative case study of 18 companies in the Netherlands using background information, interviews and annual reports. Initially, the sensemaking process of CSR is guided and coordinated by change agents who are specifically appointed to explore the implementation of CSR in their company. These change agents initiate the CSR process within their own organisations. The meaning they develop stems from their personal and organisational values and frames of reference. By attuning the vocabulary of CSR to the language of their colleagues, they aim to gain support for this undertaking in their organisation. This sensemaking procedure can be divided into pragmatic, external, procedural, policy-oriented and value-driven processes. The capability of an organisation to embed CSR is the result of trial and error, personal preferences and the use of language by the change agent that fits the (dynamic) situation at hand. Thus, each organisation needs a tailor-made approach to implement CSR successfully.     

To distribute leadership or not? A lesson from the islands

There is a dearth of literature in the area of tourism leadership. This article identifies the theoretical aspects of distributed leadership which features collective responsibility and collective flexibility, and argues how it might be advantageous for tourism firms in general. A longitudinal qualitative case study is used to consider different forms of distributed leadership and their impact upon organisational outcomes. The analysis is presented in terms of the presence or absence of distributed leadership within the case organisation. Evidence is provided of where this style of leadership would support success, but also identifies why it has been so hard to recognise this and then maintain and support it over time. It is argued that it may prove advantageous for tourism firms to actively consider whether distributed leadership would potentially offer increased organisational performance.     

Non‐linear Predictability of Value and Growth Stocks and Economic Activity

Recent empirical evidence suggests that stock market index returns are predictable from a variety of financial and macroeconomic variables. We extend this research by examining value and growth portfolios constructed by book-to-market ratio, and consider whether such predictability is evident here. Further, we assess whether such predictability is better characterised by a non-linear form and whether such non-linear predictability can be exploited to provide superior forecasts to those obtained from a linear model. General non-linearities are examined using non-parametric techniques, which suggest possible threshold behaviour. This leads to estimation of a smooth-transition threshold model, with the results indicating an improved in-sample performance and marginally superior out-of-sample forecast results.     

Resource Accounting and Budgeting: Principles, Concepts and Practice—The MoD Case

In 1998/99 resource accounting will be trialed in the final group of departments to which it is to apply. Prominent among these will be the Ministry of Defence (MoD). The huge size of the MoD's asset base, and the difficulty of assessing much of its value, raises problems which will not have to be faced by other government departments.     

The evolution of financial intermediation: Evidence from 19th‐century Ontario microdata

Microdata for Ontario decedents in 1892 and 1902 is analyzed to help explain the dramatic growth of the Canadian banking system in the late 19th century. Combining data from probate inventories with census data at the township level, we find that the expansion of deposit banking happened at the extensive rather than intensive margin and was correlated with the expansion of the branch network of the banking system, although we cannot assign causation. Wealth and urbanization help to explain the growth of deposit banking but the significance of a dummy variable for 1902 points to other time‐correlated factors such as innovations in transportation and financial innovations that lowered costs and facilitated access to banking services.