Does Saying ‘Yes’ to Capital Inflows Necessarily Mean Good Business? the Effect of Antimoney Laundering Regulations in the Latin American and the Caribbean Economies

This study explores the level of compliance and the subsequent economic performance of states in the context of anti‐money laundering (AML) regulations. Following Holmstrom and Tirole (1997) and Obstfeld and Rogoff (1998), we examine why countries admit illicit flows of money and the economic costs of these transactions. Analyzing 36 Latin American and Caribbean jurisdictions between 1960 and 2010, we find that poor institutional performance by a jurisdiction (AML ratings, blacklists with non‐cooperator countries, and corruption indicators) affects negatively the investment ratio to GDP, the FDI ratio to GDP, and financial development (ratio of credit markets to GDP). These findings are novel in the literature, offering an important contribution to the debate on financial regulatory convergence.     

A Conversation with Jef Teugels

Jozef Lodewijk Maria Teugels was born in Londerzeel, Belgium, on February 20, 1939. He received his high school education at Sint-Lievenscollege in Antwerp. He obtained a Candidate diploma in Physics in 1961 and a License degree in Mathematics in 1963 at the Catholic University of Louvain. After serving one year in the army, he obtained his MSc in 1966 and his PhD in 1967 at Purdue University, with Marcel F. Neuts as advisor. In 1967 he was appointed at the Catholic University of Louvain and promoted to Full Professor in 1973. He remained in Leuven until his retirement in 2004. He chaired the Department of Mathematics over the periods 1970–77 and 1982–89. He has held visiting positions at numerous universities in the United Kingdom, Portugal, the United States of America, South Africa, Japan, Indonesia and Australia.     

The perceived autonomy–perceived service climate relationship: The contingency effect of store-level tenure diversity

Although prior research has examined the relationship between perceived autonomy and perceived service climate, a dearth of studies exist that have explored the boundary conditions of the perceived autonomy–perceived service climate relationship. To this end, this study draws on self-determination theory and the job characteristics model to develop a multi-level model that examines the relationship between perceived autonomy and perceived service climate and how this relationship alters at varying levels of store-level tenure diversity. Based on matched data from service employees and customers from a national chain of retailers, the findings indicate that perceived autonomy is positively associated with employee's perception of service climate. However, this relationship was qualified by a curvilinear (U-shaped) moderating effect of store-level tenure diversity. Perceived autonomy had a greater impact on perceived service climate at low and high levels compared to moderate levels of tenure diversity. Implications for advancing theory in service retailing are discussed along with strategic ramifications.     

Transfer of labour‐management partnership in multinational companies

There has been a growing interest in how multinational corporations transfer various management practices from one country to another. The positions vary from an extreme where all practices will become globally standardised; to claims that the local context will be a decisive factor. In this article, the research question is why an MNC would want to transfer the partnership practice and what the key elements to success might be. As pointed to, partnership is a part of the company's business system, the way they are used to operating. Also important is that the risk of failing in terms of technological issues was important, and thus commitment and cooperation are crucial. Success can be understood by their effort to reduce the institutional distance as much as possible, including the choice of location, hiring policy emphasis on education and training, the strategy of building strong connections to the senior shop steward.     

Contingent Employment Relationships Between Tour Guides and Tour Operators in Ecuador: Human Resource Management Practices and Attitudinal Outcomes

This study examines a unique contingent employment relationship—that between tour guides and tour operators in Ecuador. Linkages among tour operators’ HR practices, interactions between operations managers and tour guides, and the tour guides’ attitudes toward both the tour operator and the ultimate tourist-client are investigated. Tour guides are found to exhibit dual commitments to both operators and tourist-clients. Affective commitment to the tour operators was found to partially mediate the relationship between organizational entry HR practices, compensation related HR practices, operations manager interactions, and tour guides’ commitment to the tourist-client, suggesting that tour guides’ perceptions about the tour operator may affect their ultimate customer service delivery. Satisfaction with tips was more directly related to commitment to the tourist-client, as was the interaction of pay administration satisfaction and tip satisfaction, supporting the notion that contingent pay beyond base pay provided by the tour operator and its delivery may impact tour guides’ motivation to provide quality service to the end client. Practical implications for the tour operators, and tourism ministries are offered.     

Behind the masks: Tourism and community in Sardinia

This paper addresses community-based tourism and raises questions concerning the meaning of the term. Desired results may not be achieved through strict application of the concept in the absence of external inputs in all but a few favoured cases. Tourism, by definition, involves links with the outside world, raising questions concerning the types and extent of inputs that can be accepted without undermining the meaning of ‘community-based’. Through a case study of tourism in Mamoiada, Sardinia, the paper addresses the concept of community and locals’ participation in tourism development. It points out the key role played by local institutions and cosmopolitan locals, who are residents with external exposure, who are able to take initiatives and act as catalysts of development. Tourism planners should carefully evaluate the institutional arrangements, including the presence of cosmopolitan locals and their involvement in the creation of competitive local attractions, for the success of tourism development.     

An empirical comparison of flexible demand system functional forms

This paper compares the performance of eight frequently used flexible forms that are either (1) locally flexible, (2) ‘effectively globally regular’, or (3) asymptotically globally flexible. Results show that the functions with global properties generally perform better, particularly those models having asymptotic properties. Results, using US consumption data, indicate substitutability among the components of consumption at most data points. There is also some interesting substitution volatility around the time of recessions in the USA. Copyright © 2001 John Wiley & Sons, Ltd.     

Purchasing Power Parity and Interest Parity in the Laboratory

This paper analyses purchasing power parity and uncovered interest parity in the laboratory. It finds strong evidence that purchasing power parity, covered interest parity, and uncovered interest parity hold. Subjects are endowed with an intrinsically useless (green) currency that can be used to purchase another useless (red) currency. Green goods can be bought only with green currency, and red goods can be bought only with red currency. The foreign exchange markets are organised as call markets. In the treatment analysing purchasing power parity, the price of the red good varies. In a second treatment, the interest rate on red currency varies. In a third treatment, the interest rate on red currency varies, and the price of the red good is random.     

Using screen video capture software to aide and inform cognitive interviewing

Web-based surveys are a salient tool in the repertoire of social and behavioral scientists. The increase in web-based surveys is understandable considering the distinct advantages offered, including: (a) lower costs and reduced labor time, (b) ability to directly transfer data into statistical packages (reducing coding errors), (c) customization options enabling more attractive presentation, (d) ability to reduce respondent burden by embedding skip patterns, and (e) access to larger sample sizes in different geographic regions. It is important to note, however, that administering web-based surveys also introduces distinct sources of error (e.g., coverage, sampling and non-response). Regardless of format (e.g., paper-and-pencil or web-based), specific, prescribed steps must be followed when constructing an instrument in order to reduce survey error and lend credence to the data collected before subsequent analysis is performed. One of those crucial stages integral to the pretesting process is cognitive interviewing. Cognitive interviewing is a qualitative process, encompassing two main techniques: think aloud interviewing and verbal probing. Collectively, these two methods seek to (a) produce information on what the respondent is thinking while answering the questions, (b) the cognitive processes used to answer the questions, and (c) how the respondent answers the questions. The purpose of this article is to provide a practical guide outlining how Camtasia, a screen video capture software, can aide and inform the cognitive interview process.