Analysis of career competency of food and beverage managers in international tourist hotels in Taiwan

The purpose of this study is to establish indicators of career competencies of food and beverage managers in international tourist hotels in Taiwan. Panel discussions and the Delphi technique were adopted. Two panel discussions were conducted with a total of 11 industry experts and seven academic experts. The framework of career competencies was established based on these experts’ opinions. Delphi questionnaires were sent to 23 experts 13 in the hospitality industry and ten academic experts to collect data. By using such questionnaire twice, the 23 panelists reached a stable consensus. The results indicate career competencies include two categories: (1) career planning and development, and (2) core employability. The data demonstrated that the core employability competency was slightly more important for an individual's career development than the career development and planning competency.     

The Impact of Tourism Resources on Tourism Real Estate Value

Leisure and tourism facilities are known to influence property value. Previous studies have found natural resources to have a positive impact on the price of surrounding properties. More recently, scholars have turned their attention to “built” tourism resources, such as resorts and sports facilities. “Tourism real estate” emerged in China in the 1990s. Contrary to traditional housing projects, tourism real estate is characterized by the development of large-scale tourism resources (e.g. resorts and theme parks) along with residential properties, under the assumption that they would increase property value. However, the effects of such “built” tourism resources on housing value have not been empirically examined. This study investigates the determinants of tourism real estate prices, with an emphasis on the impact of theme parks. A hedonic pricing model was built using a sample of 294 real estate transactions in the Overseas Chinese Town area of Shenzhen, China. Findings indicated that while distance to metro and the architectural features of the property itself had significant positive effects on tourism real estate value, distance to theme parks was found to have a negative effect on price. As the constructions of theme parks alongside residential/vacation properties represent a typical model of tourism real estate, findings urge the industry to reconsider the development of theme parks and its impact on the surrounding environment.     

Perceived ease of use in prior e‐commerce experiences: A hierarchical model for its motivational antecedents

This study develops and tests a theoretical model to evaluate the motivational factors behind perceived ease of use in prior e‐commerce experiences. This hierarchical model includes need for arousal as the independent variable; general self‐efficacy, technological innovativeness, and consumer self‐determination as the mediating variables; and perceived ease of use in prior e‐commerce experiences as the dependent variable. Tested by data generated from a survey of 290 consumers, the model yields satisfactory fit and contributes to the literature by adding more intrinsically motivational variables to predict perceived ease of use. Practical and academic implications are also discussed. © 2010 Wiley Periodicals, Inc.     

The Impacts of Surrender Options on Reserve Durations

Estimating the interest rate risk of life insurance reserves is essential for insurers, and surrender options are critical to the estimation. This article advances our understanding of how surrender options affect the durations of reserves. We identify a pattern of the reserve duration with respect to the interest rate that is important in explaining how surrender rate levels and the interest-rate sensitivity of surrenders affect reserve durations. We further found that the surrender behavior that is more positively related to the interest rate produces larger/smaller effective dollar durations when the interest rate is low/high.     

The Influence of Constraints and Self-Efficacies on Participation in Regular Active Recreation

This study examined the ways in which perceived constraints and self-efficacies associated with participation in active recreation influenced Hong Kong and Australian university students' interest, intention, and participation in regular active recreation. The study indicated that perceived constraints have weak negative effects whereas self-efficacies have stronger positive effects on students' interest, intention, and participation in regular active recreation. Time efficacy, persistence efficacy, and activity efficacy emerged as important indirect motivators of active recreation engagement. The influences of constraints and self-efficacies on active recreation participation mainly occurred indirectly through adjustments in participation interest and intention.     

Selecting an Optimal Region by Fuzzy Group Decision Making: Empirical Evidence from Medical Investors

Since China opened its medical services market in 1989, its health care industry has become the focus of international investment. This study employs the fuzzy analytic hierarchy process to establish an evaluation model of optimal region selection for joint-venture hospitals or clinics in China. On the basis of the combined perspectives of thirty experts, this study adopts six criteria and nineteen sub-criteria for selection. It considers the Surrounding Bohai Bay (SBB), Yangtze River Delta (YRD), Pearl River Delta (PRD), and other economic zones as potential locations for the establishment of medical institutions. The findings reveal that government policies, demand conditions, and investment strategy are relatively highly weighted criteria. The order of priority for economic zone selection is as follows: YRD, PRD, SBB, and other economic zones. These results can help foreign investors in selecting appropriate investment regions.     

Bridge the Gaps: From Deficiency to Superior Service

In the face of ever intense competition and limited resources, it is management's primary concern to seek out accurate and effective ways for uncovering deficient service quality attributes and the real causes behind them. The purpose of this study is, therefore, to develop a two-phased service quality strategy model to identify defective service attributes and uncover their root causes by integrating the importance-performance gap analysis model, service triangle and gap analysis. A survey conducted on the guests, front-line servers and managers from nine different restaurant outlets of three similar international hotels in Taiwan is presented to empirically substantiate the suitability and practicality of this proposed model. The findings demonstrated that the model was fitted for the hotel in question to identify its defective service quality attributes, prioritize their order of improvement and consequently reveal the causes behind by analyzing the existence of the gaps among customers, managers and front-line servers. The managerial implication for restaurant managers is to reallocate resources and efforts in service areas that require immediate improvement. With this particular model, management now can serve their customers well even with limited resources.     

‘Paradigms of development: The East Asian debate’: A comment

Abstract

Sanjaya Lall's contribution to the debate on the role of industrial policy in economic development (Oxford Development Studies, 24, pp. 111–131,1996) is criticized. Part of the argument concerns the nature of development experience in Hong Kong, where deindustrialization is not regarded as a sign of lack of industrial policy, as argued by Lall. More generally, the article contends that selective intervention is not necessarily the key to capturing the benefits of dynamic comparative advantage, that intervention costs can be large, and that governments can have difficulty in devising and implementing plans for the development of technological capability.     

Strategic debt service and investment decisions

Firms alter investing decisions when there is debt in the capital structure. Security design features can exacerbate the situation. This article studies how strategic debt service may affect investment distortions resulting from debt financing in a dynamic framework. When the production decision involves an expansion option, the shareholders’ option to strategically default on the outstanding debt eliminates bankruptcy costs but, in contrast to previous literature where production decisions are fixed, leads to suboptimal investing decisions. This is due to higher wealth transfers from shareholders to debt holders upon exercise of the growth option. Strategic debt service, therefore, may reduce the value of the firm. The setting of an endogenous production set offers a potential explanation for empirical observations of wide credit spreads and low leverage.