Understanding Supplier-Selection Criteria: Meeting Planners' Approaches to Selecting and Maintaining Suppliers

Few attempts have been made to explain the change in perspectives in regard to meeting planners' supplier-selection criteria in relation to initial supplier selection versus meeting planner-supplier relationships. This article aims to examine the perspective differences using 15 modified supplier-selection criteria in an exploratory manner. Results of this study indicate that meeting planners' perspectives on the same decision factors can change in terms of selecting and deciding upon long-term relationships. The key findings would lead to managerial implications for sales personnel of both Meetings, Incentives, Conventions, and Exhibitions (MICE) industry suppliers and local convention and visitor bureaus (CVBs).     

The Constraints Experienced and Negotiation Strategies Attempted by Nonparticipants of a Festival Event

The leisure constraints and negotiation model was used to examine nonparticipation in a large festival event. A purposive sampling survey was conducted with 502 event nonparticipants. The results indicated that the hierarchical leisure constraints model is a useful framework for understanding the constraints to attendance at special events. Consistent with previous research on constraints to participation, structural constraints were the greatest category of constraint, followed by interpersonal and intrapersonal constraints. Further, nonparticipants who experienced intrapersonal constraints were least likely to attempt negotiations relative to time, partners, or finances. Additionally, this study compared the constraints of nonparticipants who were interested and disinterested in attending the event and found disinterested nonparticipants perceived greater intrapersonal, interpersonal, and structural constraints than those interested in attending, suggesting that constraints create amotivation. Disinterested event nonparticipants were also less likely to negotiate constraints to participation, especially barriers related to lack of time and partners with whom to participate. Finally, interested nonparticipants who experienced intrapersonal constraints were less likely to attempt to negotiate constraints. This study broadens the scope of the constraints and negotiation discussion to include the context of a community festival event, as well as differences in constraints and negotiation between interested and disinterested event nonparticipants.     

Climate change disclosure and the information environment in the initial public offering market

We investigate whether climate change disclosures in initial public offering (IPO) prospectuses affect the information environment in the IPO market. We find that climate change disclosures are associated with lower IPO underpricing. Further analyses reveal that reputable underwriters and the Securities Exchange Commission's Commission Guidance Regarding Disclosure Related to Climate Change enhance the information role of climate change disclosures in the IPO market. We demonstrate that firms with more extensive climate change disclosures provide stronger hedging benefits against climate change risks in the post-IPO period. Overall, our results support the crucial role of climate change disclosures in improving the information environment of the IPO market.     

An assessment of convention tourism's potential contribution to environmentally sustainable growth

The tourism literature contains substantial discussions on how increasing numbers of attendees and conventions at a destination contributes to the local economy, but there is limited research on the environmental impact of the concomitant increases in air and other travel, and other activity increases in energy and other resource use. This research assesses the current environmental position of the convention industry in the United States and formulates suggestions for future direction in regard to “green” concepts by examining and comparing the perceptions, attitudes, and behavioral intentions of three groups of convention stakeholders: convention attendees, meeting planners, and convention suppliers. This empirical study recognizes the critical problem of inadequate understanding of the environmental impact of convention activities and the lack of knowledge regarding ecological convention practices. It shows that the perception of environmental impact among the three groups varies depending on which environmentally friendly practices are available to each group. It discusses the background to – and the implications of – the emotional formation of decisions and self-motivation based on positive attitudes and the strong intention to adopt green management practices agreed to by convention stakeholders.     

Effect of regulatory oversight on the association between internal governance characteristics and audit fees

We examine the relationship between internal governance, external audit monitoring and regulatory oversight for a sample comprising industrial companies and financial/utility companies subject to additional industry‐specific regulation. Our results indicate that the association between audit fees and board/audit committee independence and size are weaker for regulated companies. These observations are consistent with the notion that regulatory oversight partially substitutes the external audit as a monitoring mechanism. However, boards/audit committees with more multiple directorships demand a more extensive audit in the presence of regulatory oversight to protect their reputation capital. Our study enhances our understanding of the complex relationships among the major corporate governance elements.     

Economic screening procedures based on correlated variables

Summary Economic screening procedures for improving outgoing product quality based on screening variables are presented for the cases of one- and two-sided specification limits. It is assumed that the performance and screening variables are jointly normally distributed and that costs are incurred by screening inspection and misclassification errors. When all parameters are known, a closed-form solution is obtained for the case of one-sided specification limit and an approximate closed-form solution is derived for the case of two-sided specification limits. Methods for finding optimal solutions based on normal conditioned ont-distribution are presented for the cases of unknown parameters.     

Foodservice hygiene factors—The consumer perspective

Food safety is important to today's food industry operators as consumers have become increasingly concerned about risks related to food. Unlike foodservice operators or health inspectors, consumers can only rely on the visible cues, particularly those associated with food hygiene to judge the level of food safety in eating establishments. While previous research highlighted the influence of foodservice hygiene perception on consumer dining out decision, study examining the constructs of food safety cues that consumers employed is scant. This research aims to bridge the gap by exploring the topic from the consumer perspective. Results indicate that foodservice hygiene is one of the top three considerations when consumers select a dining place. Results of confirmatory factor analysis reveal a four-factor model encompasses staff and handling, food and location, premise and practices, and scent aspects. Further substantiation in different settings is needed for generalization purpose.     

Audit Committee Members’ Reputation Incentives and Their Effectiveness in Monitoring the Financial Reporting Process

We examine whether the reputation incentives of audit committee members are associated with their effectiveness in monitoring the financial reporting process. Prior research assumes that audit committee members allocate their effort proportionately across all memberships on which they serve. However, our findings suggest that audit committee members with multiple audit committee memberships tend to focus their attention on the memberships that provide them with the greatest reputation incentives. Specifically, firms with a larger proportion of audit committee members where the membership is the most prominent are associated with higher financial reporting quality and more effective monitoring of internal control. Additional tests reveal that audit committee members’ reputation incentives are driving our results rather than independent non-audit committee members’ reputation incentives. We conclude that reputation is a strong incentive for audit committee members, such that it influences their monitoring effectiveness over the financial reporting process.     

Leverage adjustment after mergers and acquisitions

Australian firms have leverage targets. Speeds of adjustment to a target capital structure are higher than previously published estimates when there are major disruptions to firms’ leverage ratios. Firms exploit company‐specific characteristics to achieve these targets. Profitability and cash levels are important drivers of the speeds of adjustment. Firms, which have lower profitability or higher cash levels, appear to adjust faster.