TOURISM AND HOTEL COMPETITIVENESS RESEARCH

Competitiveness has been a subject of study in the manufacturing and related sectors since the early 1990s. However, only recently have some researchers started to examine the tourism and hospitality competitiveness, both conceptually and empirically, with a particular focus on tourism destinations and the hotel industry. The goal of this article is to review the published studies on destination and hotel competitiveness, provide critiques, and point out future directions in tourism and hotel competitiveness research. Such a review shall provide researchers with a good understanding of the current status of competitiveness research and with a vision for advancing the existing knowledge of destination and hotel competitiveness.     

Native American casino marketing on the web

The Internet and its component, the World Wide Web (WWW or Web), as well as the casino industry grew tremendously in the United States in the past decade. While there are various estimates about the future size of the Internet and the casino market, all agree that the two will continue to grow substantially. However, very few studies have discussed Internet use within the casino industry. This study reviewed 58 Class III Native American casino web sites. Content areas analyzed included introduction to the casino organization, local destination attractions, food and beverage services, accommodations, entertainment and recreation facilities, maps and directions to casinos, links to related commercial and regulatory agency web sites, and user friendliness. Web site features were evaluated based on marketing mix and principles.     

A Study on the KBS TV Drama Winter Sonata and its Impact on Korea's Hallyu Tourism Development

The purpose of this paper is to examine the ties between the success of a TV drama Winter Sonata, produced by the Korean Broadcasting System (KBS), and the flow of tourism into Korea. By deconstructing the Hallyu phenomenon, started in part by Winter Sonata, the study tries to determine possibilities for Korean tourism expansion. Literature reviews, tourism data, interviews with specialists, and actual pieces of feedback from Winter Sonata's Egyptian audience are referred to draw conclusions on the subject matter. Results show promising markets far beyond just Asia, touched by Hallyu, but not the opportunity to tour Korea yet. Suggestions are then made on how to help sustain Hallyu tourism and increase access to potential new travel markets, especially those in diverse Islamic regions around the world.     

Static hedging and pricing American knock-in put options

This paper extends the static hedging portfolio (SHP) approach of  and  to price and hedge American knock-in put options under the Black–Scholes model and the constant elasticity of variance (CEV) model. We use standard European calls (puts) to construct the SHPs for American up-and-in (down-and-in) puts. We also use theta-matching condition to improve the performance of the SHP approach. Numerical results indicate that the hedging effectiveness of a bi-monthly SHP is far less risky than that of a delta-hedging portfolio with daily rebalance. The numerical accuracy of the proposed method is comparable to the trinomial tree methods of  and . Furthermore, the recalculation time (the term is explained in Section 1) of the option prices is much easier and quicker than the tree method when the stock price and/or time to maturity are changed.     

行政事业组织国资"非转经"行为规范研究

行政事业组织国有资产"非转经"一直没有纳入规范管理的轨道,缺乏有效的监管机制,造成国有资产流失严重。因此,在行政事业组织国有资产"非转经"过程中,主管部门应尽量掌握具体行政事业组织的收益状况信息,努力降低监督成本,并适当选择罚款金额,以利于促使行政事业组织"非转经"经营行为的有序化。     

Persistence Characteristics of Tourism Arrivals to Australia

This paper examines the degree of persistence in international monthly arrivals to Australia by using data disaggregated by tourism‐source countries. We employ two competing models, which are very general in the sense that they include (seasonal and non‐seasonal) unit roots as particular cases of interest. The first model is based on a long‐memory process in the non‐seasonal part of the series along with a short‐memory autoregressive (AR) seasonal structure. The second model is based on a long‐memory process for the seasonal structure of the series, the short‐term evolution being described through a non‐seasonal AR(1) process. Results based on the residuals and forecasting assessment indicate that the second model is preferable in terms of fitting the data. We provide persistence ranking of all countries included in the study and discuss the managerial implications of the main findings. Copyright © 2011 John Wiley & Sons, Ltd.     

Applying a New Model of Customer Value on International Air Passengers' Market in Taiwan

This paper proposes a new model to discover customer value of air passengers by using data mining technologies. The results of this research can be applied in database marketing systems. The procedure applies See5/C5.0 (RuleQuest Research Pty Ltd, St Ives, New South Wales, Australia) decision tree; transaction records; Frequency, Price Discount, Destination and No‐Show (FPDN model; Recency, Frequency and Monetary model based) model variables; and socio‐economic variables to create decision rules for airline business. An empirical case of air passengers' market in Taiwan is implemented for the identification of this procedure and the Frequency, Price Discount, Destination and No‐Show model. Copyright © 2011 John Wiley & Sons, Ltd.     

Segmenting Mainland Chinese Tourists to Taiwan by Destination Familiarity: a Factor‐cluster Approach

This research examines the effectiveness of destination familiarity as a segmentation variable. Based on the traditional destination‐choice model, which suggests that customers might eliminate unfavorable destinations in the early stages of information search process, this research proposes that familiar customers should possess more favorable destination images and higher visiting intentions than unfamiliar customers. As the results confirm the positive effects of destination familiarity on destination image and travel intention, the effectiveness of destination familiarity as a segmentation variable is also verified. Copyright © 2011 John Wiley & Sons, Ltd.