Important attributes of lodgings to gain repeat business: A comparison between individual travels and group travels

The purpose of this study is to investigate the attributes of the satisfaction that are related to the lodging-guests’ tendency to revisit the lodgings and to compare these attributes among the different travel styles, such as individual travel, travel with friends or as a couple, and travel with family. We examine 6351 guest evaluations from a highly popular travel reservations website. Multinomial logistic regression analyses are performed and they show that the important attributes for lodgings to gain repeat business vary among their guest's travel styles.     

Logit and multinomial logit models for discrete-time event-history analysis: a causal analysis of interdependent discretestate processes

This paper introduces a new direction of methodological elaborations in event-history analysis based on discrete-time logit and multinomial logit models. The methodological elaborations address (1) simultaneous analysis of two-way transitions between two states, and (2) its extension for a causal analysis of two interdependent two-state processes. The former elaboration permits a more parsimonious and unambiguous expression for the effects of covariates on the dependent process than can be obtained by separate analyses of each direction of transition. The latter elaboration provides an extension for a log-linear causal analysis of 16-fold tables presenting two-wave-two-variable panel data, and relates the log-linear analysis to event-history analysis. An illustrative application, focusing on the dynamic relationship between premarital cohabitation and marijuana use, demonstrates the usefulness of the new models and methods.     

Family Policies and Female Employment in Japan

This paper discusses how childcare and parental leave policies affect female employment by reviewing the international evidence and recent papers on Japan. These papers estimate causal effects of policies by exploiting policy changes, which is a more credible identification strategy than those applied in earlier observational studies. The literature on parental leave finds that a more generous leave package tends to delay mothers’ return to work, but it does not have detrimental effects on maternal labour supply in the medium to long run. Some papers also find that provision of job protection for around 1 year can increase maternal employment, but longer job protection has little additional effects. The literature on childcare policies finds that maternal employment does not necessarily increase, because the expansion of childcare may crowd out informal childcare arrangements, such as care provided by grandparents. Findings by recent papers on Japan are largely consistent with the international evidence.     

Asset valuation and accounting strategy within the Japanese shipping industry c.1876-c.1950

The Japanese shipping industry adopted European-style book-keeping in the 1870s. Before 1937, there were few regulations on accounting practices in Japan and we can observe their natural evolution at the Nippon Yusen Kaisha (NYK). NYK, which prospered to become a blue-chip company, developed its accounting techniques in asset valuation exploiting a policy that income and expense from selling securities or vessels should not go directly to the profit and loss account. Asset revaluations were undertaken not to reflect market value but to implement accounting strategy.     

Endogenous leadership and sustainability of enhanced cooperation in a repeated interactions model of tax competition: Endogenous leadership in tax competition

In this study, the endogenous timing of moves is analyzed in an infinitely repeated game setting of capital tax competition between a subgroup (a tax union) of countries agreeing on partial tax harmonization and outside countries. It is shown that in a subgame perfect equilibrium of the infinitely repeated tax competition game, they simultaneously set capital taxes in every stage game when a tax union comprises similar countries with respect to productivity, whereas they may set capital taxes sequentially in every stage game when a tax union comprises dissimilar countries. This finding is significantly different from Ogawa (2013), although we also assume that capital is owned by the country's residents, as in Ogawa's model. This is because a disadvantaged member country of the tax union would suffer from larger losses when a tax union comprising dissimilar countries, and thus the tax union will choose the strategy of moving Late for the sake of sustaining tax harmonization to avoid such losses.     

BOOK REVIEWS

Book Reviews in This Article: Kwame Nkrumah , Neo-colonialism: The Last Stage of Imperialism. George Rosen , Democracy and Economic Change in India. Donald M. Lowe , The Function of “China” in Marx, Lenin, and Mao.