Literature,tourism and the city: writing and cultural change

Today national and regional tourism organizations look to sophisticated cultural tourism programmes to enhance the visitor experience for tourists of their particular city. Yet research indicates that a challenge exists in designing and implementing programmes that take full advantage of a city’s historical and emergent literary cultures. In this paper, we offer critical insights into how literary cultural heritage can foster the development of an integrated and dynamic approach and provide the experience sought by local and global tourists. International exemplars are cited together with an analysis of the Australian city of Brisbane that describes itself as a ‘new world city’. The findings of our research show that programmes that harness diverse literary cultures, rather than adhering to a single literary representation, are better equipped to build identity and thus extend cultural tourism potential.     

The effects of wind generation capacity on electricity prices and generation costs: a Monte Carlo analysis

We use Monte Carlo analysis to examine the potential of increased renewable generation to provide a hedge against variability in energy prices and costs. Fuel costs, electricity demand and wind generation are allowed to vary and a unit commitment and economic dispatch algorithm is employed to produce cost-minimizing generation schedules under different levels of installed wind capacity. Increased wind capacity reduces the mean and the variance of production costs but only the variance of electricity prices. Wind generators see their market revenues increase while consumer payments and fossil generator profits do not considerably vary as wind capacity increases. Risk aversion is captured by considering the conditional value-at-risk for both consumers and producers. The optimal level of wind generation increases as risk aversion increases due to the potential of wind to act as a hedge against very high electricity prices in high fuel price scenarios.     

Consumer and managerial goals in assortment choice and design

In many domains, consumers must deal with an increasing number of choices—spanning where, when, what, and how many items to buy; how many and which options to consider; and how best to weigh the pros and cons of these options. This paper considers how consumer and managerial goals and the ensuing tradeoffs affect the optimal design of assortments in order to help enhance our understanding of assortment choice, identify issues that merit particular attention, review some of the recent research in pertinent areas, and suggest directions for future research.     

Linking agricultural and consumer Cooperatives — A strategy for cooperative development

To counteract the fragmentation of cooperative development in California, U.S.A., a multi-stage strategy was developed to link capital-intensive agricultural cooperatives with member-intensive consumer cooperatives. The strategy began by identifying issues on which agreements between the two groups could come easily. These included joint sponsorship of a statewide Co-op Month and the initiation of a university Center for Cooperatives. Specific details of the implementation process are discussed.

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Die Zusammenführung von landwirtschaftlichen Genossenschaften und genossenschaftlichen Verbrauchergemeinschaften — eine Strategie für die Weiterentwicklung der Genossenschaften

Zusammenfassung Um der Zersplitterung der genossenschaftlichen Bewegung in Kalifornien entgegenzuwirken, wurde ein mehrstufiges Vorgehen entwickelt mit dem Ziel, die kapitalintensiven Agrar-Genossenschaften mit den mitgliederstarken Verbraucher-Kooperativen zusammenzuführen.Am Anfang steht dabei der Versuch, gemeinsam solche Bereiche auszumachen, bei denen eine Interessenparallelität oder überhaupt nur eine Einigungsmöglichkeit zwischen beiden Parteien besteht. Der Beitrag berichtet auch über konkrete Ergebnisse der Strategie wie beispielsweise die gemeinsame Finanzierung von Informationskampagnen, die Einführung eines landesweiten Genossenschafts-Tages in Kalifornien oder die gemeinsame Trägerschaft eines Forschungsinstituts für genossenschaftliche Fragen an der Universität von Kalifornien.

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Robert Sommer is Professor and Director and Lori Lynch is Postgraduate Researcher; both are at the Center for Consumer Research, University of California, Davis, CA 95616, U.S.A.The research was done under contract with the California Department of Consumer Affairs and the University of California Task Force on Cooperatives. The assistance of Robert Neptune, Emily Burstein, and David Kupfer is gratefully acknowledged.     

Using role play to integrate ethics into the business curriculum a financial management example

Calls for increasing integration of ethical considerations into business education are well documented. Business graduates are perceived to be ethically naive at best, and at worst, constrained in their moral development by the lack of ethical content in their courses. The pedagogic concern is to find effective methods of incorporating ethics into the fabric of business education. The purpose of this paper is to suggest and illustrate role play as an appropriate method for integrating ethical concerns.Dr. Kate Brown is a senior lecturer in the Department of Finance and Quantitative Analysis at the University of Otago in Dunedin, New Zealand. She teaches financial management and a course in entrepreneurship and venture capital. Her research interests include corporate finance, regulatory economics, and issues in the teaching of finance.     

Board composition,share ownership,and ‘underpricing’ of U.K. IPO firms

Using a sample of 251 IPOs in the United Kingdom, this paper examines interlinks between executive and nonexecutive characteristics, share ownership, and short‐term performance measured in terms of share offer ‘underpricing.’ It argues that executives' power and previous experience directly affect ex ante choice of nonexecutive directors and their ownership interests in the firm. These endogenously developed governance factors may be used by IPO teams strategically to reduce the extent of underpricing. However, there is a selective response of investors to different board characteristics and share ownership structure. Copyright © 2002 John Wiley & Sons, Ltd.     

Valuation of a Developmental Drug as a Real Option

Valuing a capital investment as a real option (or series of options) has advantages over standard DCF valuation when the investment creates the future flexibility to delay, abandon, or expand an element of the project based on the resolution of a major source of uncertainty. The uncertainty is generally dealt with using a “volatility” term that aims to reflect the variability in the future value of the underlying asset. But there are certain situations in which the uncertainty has a second dimension. For example, drugs in development can be abandoned either because of bad technical outcomes (the drug doesn't work) or unfavorable resolutions of market risk (though the drug works, its market potential turns out to be too limited). In an article published earlier in this journal, the authors illustrated the valuation of an early‐stage pharma R&D investment using a real options approach in which the market and technical risks were folded together into the volatility parameter. In this article, the authors explain why they have concluded that this is an incorrect approach and then show how to handle market and technical risk as two separate dimensions of risk in valuing an R&D program. The potential use of this technique extends beyond pharma and biotech R&D to any situation in which the outcome of an important uncertainty is independent of the resolution of market risk associated with the underlying asset.     

“My God is Not Your God”: Applying Relationship Management Theory to Managing Ethnoreligious Crises in Sub-Saharan Africa

Historically, the world’s geopolitical landscape has been replete with conflicts, from those of Ancient Mesopotamia to those in today’s Middle East and Africa. As in other world regions, parts of sub-Saharan Africa have, for decades, been trapped in a vicious cycle of conflicts and violence—in ethnopolitical and ethnoreligious contexts, even as foreign direct investment on the continent has increased 50% since 2005 and as the gross national product has increased significantly in countries such as Angola, Botswana, Kenya, Nigeria, and Rwanda, all of which are attracting international investors. This article examines the nation-building role of public relations by applying the general theory of relationship management, which is based on Grunig-Hunt two-way symmetrical model of public relations, to Sudan and Nigeria as a two-nation case study. It offers theory-informed guidelines that African states can use in managing conflicts and in developing communication strategies that engage stakeholders of disparate theological leanings at the individual level. The goal is to use communication strategies that emphasize mutually respectful Muslim-Christian dialogue on intractable, sensitive issues that have morphed into a bane of the economically burgeoning sub-Saharan African region, particularly.