Endogenous screening, credit crunches, and competition in laxity

A simple model of lending with endogenous screening predicts that risk-neutral banks tend to adopt tighter lending standards under several conditions commonly seen in recessions: lower interest rates (or spreads), higher default rates, or a smaller fraction of good borrowers. Historical data support these predictions. In addition, better information about borrower types encourages tighter lending standards, and competition in laxity can arise with multiple banks. Within the class of symmetric screening decisions, endogenizing the interest rates disrupts the existence of equilibrium in pure strategies, just as when screening decisions are assumed to be exogenous.     

Entrepreneurship, Innovation and Industrial Development: Geography and the Creative Field Revisited

Creative destruction is a central element of the competitive dynamic of capitalism. This phenomenon assumes concrete form in relation to specific geographical and historical conditions. One such set of conditions is investigated here under the rubric of the creative field, i.e. the locationally-differentiated web of production activities and associated social relationships that shapes patterns of entrepreneurship and innovation in the new economy. The creative field operates at many different levels of scale, but I argue that the urban and regional scale is of special interest and significance. Accordingly, I go on to describe how the creative field functions as a site of (a) entrepreneurial behavior and new firm formation, (b) technical and organizational change, and (c) the symbolic elaboration and re-elaboration of cultural products. All of these activities are deeply structured by relations of spatial-cum-organizational proximity and separation in the system of production. The creative field, however, is far from being a fully self-organizing entity, and it is susceptible to various kinds of breakdowns and distortions. Several policy issues raised by these problems are examined. The paper ends by addressing the question as to whether industrial agglomeration is an effect of producers’ search for creative synergies, or whether such synergies are themselves simply a contingent outcome of agglomeration.     

Experiments in supply chain management research: A systematic review and future directions

The supply chain management discipline has seen a tremendous growth in the use of experimental methods. Given the large number of published studies, the time seems opportune to systematically review the use of such approaches. In this note, we consider multiple dimensions of experimental design used in articles published in six of our premier journals. We present these findings and contemplate opportunities for future applications of experimental methods. In particular, we highlight a need to more regularly conduct and report on the results of power analyses and experimental checks, more carefully contemplate the justification and use of WEIRD (Western, educated, industrial, rich, and democratic) participants, develop and test mediated theoretical models, and increase our focus on teams as the unit of analysis when using experimental methods.     

Attitudes of Malaysian Tourism and Hospitality Students' towards a Career in the Industry

This study explored Malaysian undergraduate tourism and hospitality students' views of the industry as a career choice. Four hundred and twenty-nine tourism and hospitality students, from three Malaysian institutions completed a questionnaire rating the importance of 20 factors in influencing their choice of career, and then the extent to which they believed tourism and hospitality as a career offers these factors. All of the 20 factors tested have been identified as being significantly different. From the results, it is clear that students generally do not believe that a career in tourism and hospitality will offer them the factors that they find important.     

A review of eye-tracking research in tourism

This study provides a review of eye-tracking as a technique for measurement of attention. The review discusses its theoretical basis, advantages and disadvantages, data collection procedures, analysis methods, and application in tourism and hospitality. Areas for further research in tourism and hospitality are provided based on a systematic review of tourism research using eye-tracking.     

Developing Sustainable Strategies: Foundations,Method, and Pedagogy

While the United Nations Principles of Responsible Management Education (PRME) are a very positive development in the horizon of management education over the last decade, there are still many significant challenges for engaging the mind of the manager in ways that will foster the values of PRME and the UN Global Compact. Responsible management education must address three foundational challenges in business education if it is to actualize the aspirations of PRME: (1) it must confront the cognitional myth that knowing is like looking, (2) it must move beyond mere analysis to systems thinking, and (3) it must transition from a values-neutral stance to a values-driven stance. Using Developing Sustainable Strategies, an MBA practicum in the Sustainable Management Concentration at DePaul University’s Kellstadt Graduate School of Business as a case study, this article identifies the ways in which Pragmatic Inquiry can address these challenges. The method of Pragmatic Inquiry prepares students to become responsible managers, to develop sustainable strategies, and to be creators of shared value. Built from the philosophical foundations of American pragmatism and Bernard Lonergan’s critical realism, Pragmatic Inquiry is an effective method and pedagogy for responsible management education.     

The impact of online financial disclosure and donations in nonprofits

Decreased public confidence and trust in the nonprofit sector has fueled increased calls for transparency. In response, federal regulators and watchdog organizations have recommended that nonprofits voluntarily disclose their financial information on their own public websites. Despite the potential benefits of enhanced public confidence and trust, improved donor decision making, and increased donations, many nonprofit organizations have not adopted the recommended disclosure practices. We investigate the disclosure practices of 3,217 nonprofits and find that voluntary web disclosure of the IRS Form 990 is strongly correlated to donations, independent of other variables such as age, size, and fundraising expenditures. Further, fundraising is also clearly related to the performance indicators shown in the 990 disclosures, particularly the program ratio of program expenditures to total expenditures. This is true on a general level and when specifically compared to other nonprofits within particular sectors. As a result, nonprofits should seriously consider voluntarily posting their Form 990 results on their websites when it reflects favorably and strive to improve their financial performance if online disclosure would reflect poorly on the organization.     

Climate Change and Preparations for the Tide of Traumatic Stress: Implications for Asia-Pacific Human Resources

Although attention to the business risks posed by natural disasters fueled by climate change has grown, the toll that disasters have on human resources in the form of traumatic stress is comparatively neglected. It is common for more than 20% of people exposed to natural disasters to develop traumatic stress disorders that can last for years. In the workplace, traumatic stress hurts attendance, the quantity and quality of output, and relationships. Fortunately, businesses can promote employee resilience and recovery. Given the Asia-Pacific region’s high risk of natural disasters, businesses operating there should include employees’ traumatic stress in their disaster preparedness.     

Calendar effect and the role of seasonality in consumer comment behavior: A longitudinal study in the restaurant industry

This study’s purpose was to assess the impact of temporal, seasonal and calendar effects, on guests’ comments in hospitality. The current study analyzed the differences in food and service quality using guests’ comments collected by a national restaurant firm over a period of one year. Comments were analyzed for season of the year, weekend versus weekday, busy versus slow days, and day of the week. Findings included statistically significant differences of (positive and negative) comments between day of week and busy/slow periods. Most notably, positive food quality comments were submitted more often during busy periods, indicating a possible need for training of employees who work during slow periods.