ESTIMATION OF GLOBAL LOGISTICS EXPENDITURES USING NEURAL NETWORKS

Measuring the size of global logistics expenditure is a difficult task. What is an estimate of logistics expenditures for the global economy? The objective of this research is to answer this question. Using neural networks, an artificial intelligence methodology, logistics expenditures have been estimated at the country level. There are two main contributions from this research. The first is an update of previous estimates of global logistics expenditures. The second is continuous improvement of the estimation method, including information quality and availability as well as mathematical model refinement.     

EVIDENCE ON THE COMPENSATION OF PORTFOLIO MANAGERS

We surveyed 396 portfolio managers about the structure of their compensation. Overall, more compensation packages are subjective/discretionary than objective/formula based. Firm success factors such as firm profitability have more effect on bonuses than do client success factors such as investment performance. Differences in the structure of compensation across firms, clients, job types, and manager characteristics reflect likely differences in the underlying contracting environments, especially differences in the difficulty of monitoring performance and exerting control.     

ESTIMATION OF GLOBAL AND NATIONAL LOGISTICS EXPENDITURES: 2002 DATA UPDATE

The objective of this research was to estimate logistic expenditure for the global economy. An Artificial Neural Network was used to generate national estimates. The estimation set constitutes 24 countries representing approximately 75% of the global Gross Domestic Product. The model utilizes variables that capture economic activity, transportation activity, income level, country size, and geographic location. This research updates previous estimates and represents continuous improvement of the estimation method, including new input variables, better information quality, mathematical model refinement, and methods of model validation.     

Regional tourism development: culture,nature, life cycle and attractiveness

In this article, a simplified version of the tourism area life cycle model is developed in order to identify different stages of tourism evolution among the regions of Southwest Europe (Italy, France, Spain and Portugal). This information has been included as a dummy variable in a panel data model which aims to explain regional tourism attractiveness, between 2003 and 2008, including other variables related to sustainability (regional natural and cultural resources), regional innovative efforts and other elements related to tourism infrastructures and economic conditions that influence regional tourism performance. The results obtained show that 50% of the inland regions and 56% of the west coast regions are in the exploration stage while 52% of the south coast regions are in stagnation. An important result from the application of the panel data model is the identification of a positive relation between the regional availability of natural and cultural assets, the regional efforts on innovation and the evolution of tourism demand, suggesting that these regions are generally incorporating these local specific resources in innovative ways to differentiate their tourism supply.     

The preparedness of companies to adopt International Financial Reporting Standards: Portuguese evidence

This paper uses ordinal regression, structural equation modelling, and multivariate analysis techniques to investigate the preparedness to adopt IFRS that was exhibited by listed Portuguese companies in August 2003. We find the level of preparedness was significantly associated with company size, commercial internationalization, audit by a ‘Big 4’ accounting firm, and profitability. Our findings will help to indicate the pre-conditions that are likely to spur lagging companies (and countries) to prepare to implement IFRS.     

Engagement with disability: analysis of annual reports of Indian organizations

Anchored in institutional theory, our aim in the present study was to understand how large and economically successful organizations in India engage with the issue of disability within and outside of their organizational boundaries, and communicate such engagements through their annual reports. Based on a qualitative content analysis of the organizations' annual reports for the year 2009–2010, we examined if these organizations spoke about recruitment and other organizational treatment of people with disabilities (internal focus), and if they engaged with issues related to disability in the realm of corporate social responsibility (external focus). We found that, despite no institutional pressures, organizations engaged with disability-specific issues both internally and externally. While we found differences with respect to organizational age and sector (public and private sector), we did not find any differences in the engagement and communication of activities based on organizational industry type and global presence. We discuss implications for research and practice.     

Environmental activism and consumers’ perceived responsibility

The growing importance of environmentalism trends have led to a significant rise in environmentally friendly consumers’ attitudes and behaviours who thereby demonstrate their collective strength through both their individual buying decisions and their involvement in social movements, as is the case of the environmental activism. This activism extends to include a set of environmental behaviours spanning environmental group membership, involvement in political action and/or in environmental organisations, influencing policy or management decisions and engaging in pro‐environmental protection behaviours. The more citizens become aware of their own role in the problem of environmental degradation, the more willing they prove to become part of the solution. High levels of individual Perceived Environmental Responsibility (PER) may foster the more environmentally friendly attitudes and behaviours that lead to Environmental Activism (EA). Thus, the purpose of this research is precisely to discuss the relationship between PER and EA, and whether gender proves a significant factor in predicting PER and EA. For a sample of Portuguese consumers, who consented to participating in the research, we studied the predisposition towards EA by applying a questionnaire administered in the form of a personal interview. The results indicate that despite the perceived environmental responsibility observed, individuals present only low levels of environmental activism and civic participation in environmental causes. However, for the small percentage of individuals belonging to an environmental organisation, we do verify that EA ran higher among those reporting Environmental Group Membership (EGM). We additionally observe how PER might prove a predictor of EA even though the model applied to test this relationship only explained a small proportion of the variance in EA levels and hence requiring further research into the factors influencing EA. As regard gender, while women display similar levels of EA to men, they also report significantly higher PER than men.     

How financial intermediation impacts on financial stability?

The great financial crisis widened the role of financial intermediation in financial stability. This study develops a new financial intermediation variable, credit cash flow (CCF), which enables measurement of the net financial flow resulting from loan activity. An analysis provides evidence that CCF affects the capital buffer via credit gap behaviour, thus indicating the existence of a channel between the CCF and the capital buffer. Such a link offers the policy-maker the possibility to monitor the behaviour of financial intermediation carried out by banks, in order to avoid the outbreak of financial instability events.