The conditional performance of US mutual funds over different market regimes: do different types of ethical screens matter?

We investigate the performance of US mutual funds that employ different ethical criteria: religious, socially responsible, and irresponsible. Performance is evaluated over different market regimes using a Markov-switching conditional CAPM approach that endogenously defines different states of the market. This model is also extended to a multifactor context. The results show that estimates of performance vary across different market regimes. The Vice Fund, which invests in unethical firms, outperforms in low-volatility regimes, but underperforms in high-volatility regimes. These results contradict the Vice Fund’s claim that it constitutes a “solid investment during recessionary periods”. Our results show that socially responsible and morally responsible funds exhibit different performance across different market conditions, thereby supporting the use of performance evaluation models that take into account different market regimes. Overall, different types of ethical screens seem to lead to different performance patterns across different market regimes.     

The Cognitive-Affective-Conative Model of Destination Image: A Confirmatory Analysis

ABSTRACT

Destination image influences tourist behavior before, during, and after travel, as it is an important instrument which contributes to tourists’ loyalty. Although Gartner (1993 Gartner, W. 1993. “Image formation process”. In Communication and channel systems in tourism marketing, Edited by: Uysal, M. and Fesenmaier, D. 191–215. New York, NY: The Haworth Press.  [Google Scholar]) advocates that the cognitive, affective, and conative dimensions of destination image are hierarchically interrelated, there is no empirical evidence to support the complete model. This study aims to test the hierarchical nature of the relationship between the dimensions of destination image. The results of structural equation modeling confirm Gartner's theoretical model, validating the theory that the influence of the cognitive component on the conative dimension is higher when mediated by the affective component, raising managerial implications.     

Relations of the regional Brazilian cane agro-industry with the national economy: analysis applied to the Centre-South and North-Northeast

Cane, sugar and ethanol production in Brazil has been divided between two major production regions, the Centre-South (CS) and the North-Northeast (NNE), which present very different productivity, and henceforth production costs. The CS average productivity is more than 72 tonnes of cane per hectare, while average productivity in the NNE is 49 tonnes per hectare. The objective of the study was to establish interrelations between the cane agro-industry and other regional sectors and with the overall Brazilian economy. This framework was used to compare a demand impact upon regional cane production upon the regional and the overall Brazilian economy. An interregional input–output matrix was used to characterize how regional demand impacts on both regional and overall Brazilian economies. Rasmussen–Hirschman indexes, together with a pure linkage index were used for the analysis. In addition, production multipliers, with and without considering endogenous family consumption were estimated. The results showed that a positive demand impact upon the cane agro-industry produces a greater impact upon the NNE compared to the CS, considering income effects, indicating that cane production is more important for the NNE than for the CS. These results can be useful to establish priorities for development policies for the country.     

The Effect of Extrinsic Product Attributes of Pineapple Juice on Consumer Intention to Purchase

This study aimed to investigate the extent to which consumer information concerning several attributes of the pineapple juice packaging, including the manufacturing process, influenced the consumer intention to purchase. It is suggested that high-pressure technology retains nutrients as vitamins and keeps sensory attributes closer to those of fresh foods. These advantages meet the increasing consumer demand for healthy products and a more differentiated food assortment. However, the benefits provided by these products are not always communicated to consumers. Although information about the technology (high-pressure) had been positively considered by consumers when fruit juice consumption was taken into account, fewer studies have focused on this aspect. The effect of 5 attributes of the package (information on manufacturing process, product definition, production information, price, and brand name) on the pineapple juice consumer intention to purchase was investigated by 96 fruit juice consumers. Information about technology (high-pressure) positively contributed to the consumer pineapple juice intention to purchase and showed to be essential when it is applied on pineapple juice production, being a useful approach when adequately communicated to consumers.     

Macroeconomic Determinants of Investment under Inflation Targeting: Empirical Evidence from the Brazilian Economy

The use of interest rate as the main tool by which central banks implement inflation targets points to a strong link between private investment decisions and monetary policy. With the objective of contributing to the literature surrounding macroeconomic determinants of investment under inflation targeting, an empirical analysis through Generalized Method of Moments models for the Brazilian case is made. In a general way, the findings underscore the relevance of macroeconomic variables for the determination of investment. In particular, we find that success inflation targeting creates a stable macroeconomic environment that promotes private investment.     

Evaluation of Collaborative Strategies Used in the Management of Natural Parks in Rio de Janeiro

This paper presents the main conclusions of exploratory research aimed at analyzing the management of eight natural parks in the city of Rio de Janeiro. In view of the participative management guidelines proposed by Law 9985 (“NSCU”), the findings revealed that governmental agencies have, indeed, been making an effort to establish more participative management by means of advisory councils. Despite this, the initiatives have still been partially ineffective. The multiple case studies show that different forms of partnership are sustained with varied organizations; however, factors such as bureaucracy, lack of management autonomy, and the inadequate use of managing tools have hampered the expansion of such collaborative strategies.     

What is the future of cancer care? A technology foresight assessment of experts’ expectations

ABSTRACT

The aim of this paper is to generate qualified information on technologies that are expected to be relevant to cancer care over the next thirty years (2017–2037). Drawing on the concepts of technology foresight, a methodology was developed for future technology research. Future technologies were identified by consulting editorials of journals specializing in oncology. Nine technologies were selected with the potential to impact cancer care in the future. Additionally, a method was developed for consulting a large number of experts from articles indexed in Thomson Reuters Web of Science. In this survey, more than 83,000 cancer specialists were invited to answer a web survey in which they expressed their expectations about the future of cancer care. The questionnaire was answered by 2408 specialists, 56% of whom stated they were highly knowledgeable experts. Our results show that antibody-related therapies, molecular imaging, and tumor delivery systems are the technologies most likely to be used in cancer care in the next thirty years. The main reasons pointed out for the choice of these technologies were improvements in the prognosis of the disease and improved diagnostic reliability. Meanwhile, knowledge and scientific barriers were highlighted as the main obstacles to the development of the technologies deemed to have more limited chances of success.     

Nascent Entrepreneurs' Motivations in European Economies: A Gender Approach Using GEM Data

ABSTRACT

Entrepreneurship is becoming an important source of employment for women in many countries. There are different circumstances and motives that contribute to the decision to start a business. In this study, we developed a model that can estimate the probability of individuals becoming nascent entrepreneurs by opportunity or necessity. The model considers individuals' sociodemographic characteristics and European economies' perceived characteristics as oriented towards efficiency or innovation. Statistical logistic regression was used to test the model. The results show statistically significant differences between genders, European economies oriented either to efficiency or innovation, and entrepreneurs who are born out of opportunity or necessity.     

The 2.0 Critic: Blended Discourses in Blogging

Although traditional critics remain a reliable source, they are losing influence to online reviews produced by technology-empowered consumers. This study aims to analyze this new form of critic that have emerged with Web 2.0 and who post technical reviews based on personal experiences. We conducted a qualitative study, following netnographic and content analysis protocols in a case study of the Brazilian blog 2Beauty.com.br, which has product reviews as core content. As a contribution, we define the 2.0 Critic and its composed narrative forms—Friend, Salesperson, Connoisseur, Hacker and Examiner—which point to an expert alternative position in the ecosystem.     

Human resources administration processes in commercial restaurants and food safety: The actions of administrators

The study analyzed of the human resources administration processes at commercial restaurants, focusing on the provision of safe foods to consumers. Interviews were conducted with 105 restaurant managers at the city of Florianópolis, Brazil. Three types of restaurants were studied; 45.7% were buffets by weight, 39.1% fast-food restaurants and 15.2% churrascarias. A questionnaire was used with close-ended questions to characterize the restaurants and identify the human resources administration processes for hiring, evaluation, training and provision of benefits to employees. It was found that 89.4% of the restaurants adopt criteria for hiring of employees and 81.9% conduct periodic evaluations. Benefits were offered by 85.7% of the restaurants and 74.3% of the establishments provided employee training. The results indicate that human resources management processes at restaurants can contribute to the provision of safe food, although some establishments still need to adopt professional procedures for recruitment, selection, evaluation and training of their employees.