Board representation in international joint ventures

Research summary : Relatively little attention has been paid to boards in international joint ventures (IJVs), and the composition of these boards in particular. We examine the determinants of foreign partners' representation on IJV boards in order to advance our knowledge of this facet of IJV governance. We argue that a foreign partner's representation on the IJV board is related to its equity contribution. However, we hypothesize that this relationship is moderated by IJV and host country characteristics that affect the importance of the internal and external roles IJV boards serve. These results provide insights into the conditions under which a partner might wish to secure greater board representation for its level of equity, or utilize less board representation than might be suggested by its equity level alone. Managerial summary : The functioning and composition of corporate boards have long been seen as critical to managers and shareholders alike. In contrast, the boards of IJVs have been relatively neglected. We advance our knowledge of this important facet of IJV governance. Specifically, we highlight the importance of two roles (i.e., an internal and external role) that IJV boards and directors fulfill. We find that the importance of these internal and external roles of boards determines whether a foreign partner might wish to secure greater board representation for its level of equity, or utilize less board representation than might be suggested by its equity level alone. Our results provide novel insights that can help managers structure their IJV boards. Copyright © 2016 John Wiley & Sons, Ltd.     

Boardroom Diversity and its Effect on Social Performance: Conceptualization and Empirical Evidence

In this paper, we seek to answer two questions: (1) what does boardroom diversity stand for in the strategic management literature? And, (2) is there a significant relationship between boardroom diversity and corporate social performance. We first clarify the boardroom diversity concept, distinguishing between a structural diversity of boards and a demographic diversity in boards, and then we investigate its possible linkage to social performance in a sample of S&P500 firms. We find a significant relationship between diversity in boards and social performance. This relationship is moderated by diversity of boards. Our results also reveal the effects of the specific variables that make up the diversity of boards and diversity in boards constructs. In particular, gender, and age have a significant effect on corporate social performance. Some important measurement issues are raised and discussed.     

A tourism demand function for the Okanagan,BC

This study examines the relative importance of the existing determinants of tourism demand in the Okanagan. Because national coefficients cannot be used intercnageable with regional coefficients, it is hypothesized that the values of the Okanagan demand elasticities are likely to be lower than that of the Province and the nation. Five major markets for Okanagan tourism with identified and separate regressions run to determine the relative importance of the determinants of demand for Okanagan tourism with respect to these markets. Empirical results indicate that national coefficient will tend to overestimate the regional coefficient values. Contrary to the results of other studies for the nation as a whole, the exchange rate and travel cost did not seem to be significant determinants of Okanagan tourism receipts.     

Convention tourism modelling

This paper introduces an approach for identifying the determinants of convention attendance at alternative cities. This approach permits planners to evaluate the relative importance of accessibility and attractiveness variables as determinants of convention attendance for each site. Four major convention sites in the USA are analysed to illustrate the procedure. In this example, accessibility was found to be far more important than attractiveness.     

Predictive ability of asymmetric volatility models at medium-term horizons

Using realized volatility to estimate conditional variance of financial returns, we compare forecasts of volatility from linear GARCH models with asymmetric ones. We consider horizons extending to 30 days. Forecasts are compared using three different evaluation tests. With data from an equity index and two foreign exchange returns, we show that asymmetric models provide statistically significant forecast improvements upon the GARCH model for two of the datasets and improve forecasts for all datasets by means of forecasts combinations. These results extend to about 10 days in the future, beyond which the forecasts are statistically inseparable from each other.     

The Estimation of the Relationships between Water-Natural Gas Usage and Discharge-Emission Permission by Using Binary Logistic Model for the Industrial Establishments

The Thrace region is one of the most important agricultural and industrial regions in Turkey with its plain, deep and productive soil structure. The most important problem is industrial based water and air pollution in this region. In this study, 90 out of 541 establishments that use industrial water in the region were studied representing approximately 17% of the total population. The relationship between water-natural gas usage and discharge-emission permission is estimated by using the binary logistic model. In addition to the economic and social benefits, there are also economic and social losses due to environmental pollution because of the rapid industrialization in the Thrace Region. For example; the rice producers that use Ergene River for irrigation purposes lose efficiency and quality in various levels due to water pollution. According to the research results, an increase in wastewater is a factor that decreases the probability of obtaining discharge permission. Moreover, excessive use of underground water results in decreases in static and dynamic water levels in the region. Because of this result, it is more advantageous for sustainable water management to be directed to the sectors that do not use water for industrial purposes instead of the sectors that use water in their processes.     

A Study on the Travel Patterns of Physically Disabled People

The main objective of this paper is to highlight the travel patterns and experiences of people with a physical disability. To understand better the travel needs of people with a physical disability, it is useful to examine how travel patterns differ across demographic variables. The method chosen for the empirical data collection was a self-completed web-based questionnaire, which was answered by a total of 596 physically disabled people. The data obtained were evaluated using frequency, percentage, arithmetic average, t-test, chi-square and factor analysis. The research findings reveal that people with physical disability in different demographics groups differ in their travel patterns.