Urban Economic Development and Restorative Justice: Exploring the Relationship Between Creativity and Crime Control

This article examines the relationship between local economic development and a new approach to the problem of crime–i.e., ‘restorative justice.’ The latter concept is introduced and briefly explored, followed by a short review of Richard Florida's recently proposed theory of creative-class economic development. Against the backdrop of these theoretical innovations, an empirical question that arises is whether the specific character of creative-class economic growth enhances the probability that a given city will adopt a restorative justice paradigm in its efforts to reduce crime. Addressing this question using logistic regression analysis, the article provides preliminary evidence that creative-class economic development encourages experimentation with innovative approaches to social problems such as crime. Missouri Western State University—U.S.A. This article is a revised version of a paper presented at the 58th International Atlantic Economic Conference in Chicago, Illinois, October 8, 2004.     

Is Off–Board Trading Detrimental to Market Liquidity?

Dual trading can have opposite effects: although competition between markets should induce dealers to offer cheaper transactions, market fragmentation could reduce market activity, liquidity, and exchange efficiency. This paper shows that for French stocks traded on the London Stock Exchange's SEAQ International (SEAQ–I), market activity decreases significantly in the Paris Bourse during UK bank holidays. Thus, SEAQ–I market makers seem to divert a new clientele to the Paris Bourse, increasing both market activity and the breadth of the Bourse's order book. Also, contrary to the fragmentation hypothesis, dual trading does not seem to increase information asymmetry.     

Intra-Industry Trade and Labour-Market Adjustment: A Reassessment Using Data on Individual Workers

We re-examine the relationship between intra-industry trade and labour reallocation, using individual-level data on manufacturing worker moves in the United Kingdom. The contribution of this analysis is twofold. First, we estimate the impact of intra-industry trade on worker moves between occupations as well as between industries. Second, we run individual-level regressions that allow us to control for worker heterogeneity. Our results suggest that intra-industry trade does have the stipulated attenuating effect on worker moves, both between occupations and between industries, but that this effect is relatively small compared to other determinants of labour reallocation. JEL no. F1, J62, C25     

Factors that Affect the Levels of Tourists' Satisfaction and Loyalty towards Food Festivals: a Case Study of Macau

The present study investigates the factors that affect tourists' satisfaction towards food festivals and explores whether tourists intend to revisit and/or recommend food festivals to others. Based on personal interviews with 40 study subjects, eight factors that affect their satisfaction levels were identified: location and accessibility, food, venue facility, environment/ambiance, service, entertainment, timing and festival size. The majority of tourists were satisfied with the Macau Food Festival and intended to revisit and recommend it to others. The presented findings have practical implications for food festival organizers to further attract food tourists. Copyright © 2011 John Wiley & Sons, Ltd.     

Liability dollarization,exchange market pressure and fear of floating: empirical evidence for Turkey

US and British unemployment rates for non–white males and females are compared over the period 1970–1998. Whereas US rates remained fairly steady, there was a marked increase in British non–white unemployment rates. The reasons for this poor performance, relative to the good performance of US non–whites are explored. It is shown that non–white unemployment behaves in different ways across the two countries. For example, British rates rise faster in a recession than white rates, whereas US rates appear not to follow this British hypercyclical pattern.     

Culture,Gender, and GMAT Scores: Implications for Corporate Ethics

Business leadership increasingly requires a master’s degree in business and graduate management admission test (GMAT) scores continue to be an important component of applications for admission to such programs. Given the ubiquitous use of GMAT scores as gatekeepers for business leadership, GMAT scores are likely to influence organizational ethical behavior through gender, cultural, and other biases in the GMAT. There is little prior literature in this area and we contribute by empirically documenting that GMAT scores are negatively related to the cultural dimensions of masculinity and power distance and are positively related to math literacy, uncertainty avoidance, and individualism. We estimate that cultural factors may account for as much as an 80-point difference in cross-national mean GMAT scores which are also related negatively to local language literacy, national educational spending, wealth per capita, wealth inequality, and gender development. Most interestingly, we also find a significant negative association of GMAT scores with ethical orientation. These findings have important implications for business schools and corporate ethics and leadership.     

Superior Construction Inc.: An assessment of risks and controls as part of a post-acquisition engagement

Superior Construction Inc. (SCI) is a fictitious Toronto-based, publicly traded construction company that operates in the civil infrastructure and buildings markets. For this case, you will assume the role of a senior internal auditor at SCI, who has been given the responsibility to lead a post-acquisition due diligence review of a recently acquired privately held construction company, Building Excellence Inc. (BEI). You are provided with background on the acquisition, as well as information that your internal audit team has gathered during the post-acquisition review. With this background information, you are asked to perform a risk assessment of the newly acquired company and recommend controls to mitigate identified risks. In addition, you will assess SCI’s pre-acquisition review and evaluate the BEI purchase decision. This case requires you to draw upon your knowledge of risks and controls and to develop an understanding of the political issues that internal auditors face.