Processes underlying the development and evolution of salespersonsõ job satisfaction/dissatisfaction: a conceptual framework

A conceptual framework of salesperson satisfaction/dissatisfaction is presented and is used to develop several research propositions. Drawing from organizational behaviour and sales management research, the model incorporates various theories of motivation and emphasizes the role of intervening variables thought to be especially important in the context of sales occupations. Finally, the model draws attention to the dynamic nature of the relationships between salespersons' efforts, performance, intrinsic and extrinsic rewards, and job satisfaction/dissatisfaction. Copyright © 2011 ASAC. Published by John Wiley & Sons, Ltd.     

Three discount methods for valuing projects and the required return on equity

In this paper we discuss the required return on equity for a simple project with a finite life. To determine a project’s cost of equity, it is quite common to use Modigliani and Miller’s Proposition II (1963). However, if the assumptions of MM do not hold, Proposition II will lead to wrong required returns and project values. This paper gives an example of how the cost of equity should be determined in order to obtain correct valuations. The methods we apply are the Adjusted Present Value method, the Cash Flow to Equity method and the WACC method.     

Whose firm is it anyway? Analyzing ownership effects on IPO performance

This study revisits current practice that ownership holding at IPO has a homogeneous impact on IPO performance. Using signalling theory, we develop and test a conceptual model explaining the relationships between the aggregated ownership structure and IPO price premium. We argue that aggregated ownership has a direct effect on issue price premium, and offer specific hypotheses on the effect of the shares sold during the offering by each type of owner on IPO performance. We use archival data from a sample of US firms that issued IPOs between 1996 and 2000 and find a significant direct effect of ownership configuration, namely, heterogeneity in effect of each ownership type on IPO performance as well as interaction effects between different ownership types. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.     

我国乡村居民体育消费滞后的社会学分析

采用文献资料法、逻辑归纳方法,对我国乡村居民体育消费的重要性、体育消费的现状以及我国农村体育消费的基本方式剖析的基础上,提出经济发展制约着乡村体育消费的发展;传统的生活方式羁绊着农村体育消费发展;广大农民对体育认识的滞后是阻碍体育消费的绊脚石;政府体育支出对农村体育消费行为的影响意义深远。     

Temporal manifestations of nostalgia: Le Tour de France

Nostalgia in sport tourism is increasingly understood as multifaceted. Early conceptualizations of nostalgia may be inadequate in explaining contemporary sport tourism. Utilising an organized tour of the 2011 Tour de France, a hybrid experience combining active cycling with passive spectating, interviews were conducted with 13 tour participants and two tour guides. A grounded theory model reflecting multiple dimensions of nostalgia across three trip phases is proposed. Pre-trip, nostalgia inspired participation. During the trip participants viewed and acted upon desires to engage with preconceived nostalgic images by cycling iconic mountains. Mementos and experiences were collected to facilitate future memories and aid nostalgic recollections post-trip. The study demonstrates how sport tourists adopt multiple, reflexive roles to enrich nostalgic value throughout a trip.     

Derechos de los trabajadores migrantes. Aspectos económicos,políticos y éticos

Las políticas de inmigración laboral de los países de altos ingresos establecen una relación inversa entre el grado de apertura y algunos de los derechos concedidos a los migrantes admitidos. Esta observación empírica es la base del libro The price of rights: Regulating international labor migration, que el autor de este artículo escribió en 2013. Aquí resume sus principales conclusiones, argumentos e implicaciones políticas, y responde a una reseña publicada por la Revista Internacional del Trabajo en 2015. Concluye exhortando a un debate más abierto sobre los vínculos entre derechos, migración laboral y desarrollo entre las organizaciones nacionales e internacionales interesadas en estas cuestiones.     

A model of medium term exchange rate forecast in an open economy The case of the mexican peso

Keynes (1930) and Samuelson (1965) proposals open the possibility of matching predictability and efficiency, as evidenced by the seminal study by Fisher (1930). Recent findings suggest that the foreign exchange market gradually incorporates relevant information allowing the formation of prices in a rational manner but not randomly. Models of exchange rate by term based on asset valuation suggest that the inclusion of risk in the spot rate increases the degree of predictability. The results show that after incorporating an accurate measure of risk, predictability of medium term foreign exchange rate increases.     

‘Post‐Third‐World City' or Neoliberal ‘City of Exception'? Rio de Janeiro in the Olympic Era

This article considers processes of urban development within the context of mega‐event preparations in Rio de Janeiro. We begin with a brief overview of these development processes, highlighting their connections to political and economic change in recent years. Proponents of these mega‐event‐led initiatives argue that Rio is undergoing a period of inclusive growth and integration: a perspective we call here a ‘post‐Third‐World city' narrative of urban renewal. Critics, however, contend that urban officials are harnessing mega‐events (e.g. the 2014 World Cup and the 2016 Olympic Games) to push forward a neoliberal agenda of socially unjust policies benefiting the interests of capital and marginalizing the city's poor and especially its favelas (i.e. the ‘city‐of‐exception' thesis). In this article we explore the insights of these two perspectives and consider why they have grown popular in recent years. Though we side generally with the city‐of‐exception thesis, we argue that important geographic and historical particularities must also be accounted for. Without carefully situating analytical perspectives empirically—in particular, cases in which theoretical models are drawn from European and North American contexts—urban researchers risk concealing more than they reveal in analyses of rapidly developing countries like Brazil.     

Sustainability and forest transitions in the southern Yucatán: The land architecture approach

Consistent with the challenges of sustainability science, land architecture offers a comprehensive approach to land system dynamics useful for numerous types of assessments, ranging from the vulnerability of coupled human–environment systems to forest transitions. With antecedents in several research communities, land architecture addresses the tradeoffs within and between the human and environmental subsystems of land systems in terms of the kind, magnitude, and pattern of land uses and covers. This approach is especially cogent for changes in tropical forests, given the broad-ranging forces acting on them and the equally broad-ranging consequences of their loss. The rudiments of the land architecture approach are illustrated for changes in seasonal tropical forests in the southern Yucatán of Mexico, the pivot of which is the Calakmul biosphere reserve. Simplifying the dynamics involved, the region-wide land architecture is the collective design of stakeholders with different land-use goals that favor tradeoffs in subsystem outcomes serving better either the reserve and related programs or the smallholder farmers that populate the region. A major tradeoff involves forest cover per se, which holds implications for forest transition theory. Evidence for an incipient transition involves the scale of analysis taken. The dynamics involved hold too much uncertainty to forecast a permanent transition to more forest cover and imply that more complex but robust versions of the theory are required.