How psychological and contextual factors contribute to travelers’ propensity to choose green hotels?

Despite the growing popularity of green hotels, there remains a dearth of research examining travelers’ intentions to choose green hotels. The study addresses this research gap by developing and testing an integrated model of green hotel behavior in an emerging market of India. We use a sequential approach of SEM and fuzzy set qualitative comparative analysis on 347 responses collected from Indian travelers to gain a more in-depth understanding of the role of biospheric value, green trust, willingness to pay premium, attitude, subjective norms, and perceived behavioral control in determining green hotel intentions. The findings show that presence of green trust is a significant and necessary condition for green hotel choice. Additionally, absence of willingness to pay premium, biospheric value, attitude, and subjective norm were found to deter travelers from choosing green hotels. These findings offer unique insights for managers in developing marketing strategies to enhance travelers’ green hotel adoption.     

苏北地区农业完全成本水价农户承受力调查——基于水源地生态补偿的视角

南水北调东线一期工程江苏段的主要目标是向苏北供水,缓解该地区的农业用水短缺问题。但现行农业水价未考虑水源区的机会成本损失,不利于调动水源区环境保护积极性。论文设计单边界CVM引导技术,估算了苏北农户以提高农业水价的方式对水源区生态补偿的支付意愿。研究发现,苏北农户生态补偿支付意愿为7.63元/亩,但在不同作物种植结构和不同城市存在较大异质性。未来3年内,苏北农业用水每年所提供的生态补偿资金总额在1.526~1.679亿元之间。在发达地区探索构建绿色导向的农业水价体系有利于为其他地区提供先行示范效应。     

Value of hedge and expected returns

We demonstrate how it is possible to generate value for an investor with a hedge attached to the buy-and-hold strategy of an S&P 500 index fund. We study the S&P 500 index portfolio (not including dividends) and the value-weighted S&P 500 index portfolio (including dividends) of the Center for Research in Securities Prices for 1967:01–2011:12, using the capacity utilization and the unemployment rates in real time to determine if a hedge position should be initiated or closed. A hedge is initiated if the capacity utilization, the unemployment rate or a combination of the two signals a contraction in the real economy. The hedge position is closed if it signals otherwise an expansion. We use utility gains (Campbell and Thompson 2008), the manipulation-proof performance measure (MPPM) statistics (Ingersoll et al. 2007) and the P-Sharpe ratio (Bailey and López de Prado 2012) to evaluate the performance of a particular hedge strategy. The empirical results show that there are infinitely many hedges that can generate positive utility gains, higher MPPM statistics and higher P-Sharpe ratios.     

Attitudes and willingness to donate towards heritage restoration: an exploratory study about Bulgarian socialist monuments

In this exploratory study, an attempt was made to clarify the role of the visitors' perception of the socialist era in relation to their (1) perception of socialist monuments' maintenance level, (2) willingness to visit socialist monuments, (3) willingness to present socialist monuments for tourism purposes, (4) willingness to pay towards a visit to a socialist-era monument, and (5) willingness to donate towards socialist-era sites' restoration. Based on a quantitative study with 236 Bulgarians at Buzludzha peak, the findings suggest that the perception of the socialist era is relevant to the understanding of the individual's willingness to visit socialist monuments, presenting them to international and local visitors, the evaluation of their maintenance level, and the willingness to support their restoration. The findings' theoretical and practical contributions are discussed, highlighting the importance of the individuals' perception of a heritage site when revealing their attitudes towards its restoration.     

Balancing the risk of ‘Lazearian’ interrupters and the benefits of educational and social peers: tracing parental preferences for class-size reduction

Using Danish survey data from a choice experiment, parental preferences for class-size reduction are estimated. While parents with children in large classes are willing to pay for class-size reduction, parents with children in small classes are reluctant and even express negative utility for further class-size reduction. We interpret this as parents balancing the risk of ‘Lazearian’ interrupters and the benefits of educational and social peers when forming their preferences for class size.     

The effect of firm scale and CSR geographical scope of impact on consumers' response

The role of corporate social responsibility (CSR) in shaping consumer perception and attitude has received many attentions both in the academia and practitioner world. While this domain has invited numerous research, but research highlighting how consumers react toward learning the size of a firm conducting CSR and geographical scope of the CSR impact is still scarce. We investigate how consumers shape their attitude and consumption behavior after knowing that the CSR action is done by a small, locally-owned business that brings impact to the local community through an experimental study. Our study adds a shade in understanding how the effect of a firm size and geographical scope of CSR impact might increase consumers' favorable attitude and behavior toward the business and its products. Our findings show that when consumers learn that the firm conducting CSR is a small, locally-owned (in coffee shop business) that directs its action toward local beneficiaries, they demonstrate more favorable attitudes toward the action and the firm, which manifest in the form of better intentions to acquire the product as well as willingness to pay premium prices for it. Our findings confirm the US consumers' love affair with local businesses, in particular. While the findings generally benefit small, locally-owned businesses, they also suggest recommendations for large, multinational businesses to design their marketing strategy in an attempt to increase favorable reactions from consumers.     

Willingness to pay for safety improvements in passenger air travel

The risk of being involved in an airplane accident is largely ignored in air passengers’ choice models. The reason presumably is that it is hard to operationalize, because objective safety indicators often involve extremely low probabilities that are hard to grasp and interpret by passengers. In this paper, we propose an operationalization that is based on the perception of safety, which is easy to understand and resonates that perceptions often influence decisions stronger than objective variables. We conceptualize that passengers form a safety perception score of a particular flight based on their perception of airline and route attributes and that this score in turn is traded-off against other flight attributes, such as ticket costs, to arrive at a flight choice. In line with this conceptualization, two stated preference experiments are conducted. In a first experiment, combinations of airline and route attributes are evaluated in terms of safety that is captured on a rating scale. In a second experiment, safety perception is treated as an attribute and traded-off against other flight attributes to arrive at a flight choice. The paper presents the results of a regression and a Panel Mixed Logit model estimated from responses obtained from a convenience sample of 161 air passengers recruited in the Netherlands. The results of both models are then combined to calculate the willingness to pay values for improvements made to a range of airline and route attributes, taking into account socio-demographic variables and psychological traits. As expected, the results indicate that the willingness to pay for improving safety decreases with higher initial safety levels.     

谈歌唱的语言处理

语言,是歌唱艺术中的一个重要因素.歌唱的语言处理是将语言与音乐有机地结合,并在歌唱过程中充分理解歌曲主题、感受音乐形象,对咬字吐字进行强弱、情感等方面的处理,从而使歌唱语言更加生动、形象,增强歌曲的艺术魅力.     

CEO过度自信对薪酬的影响研究

CEO过度自信是影响其自身薪酬的重要因素。本文以2008—2018年A股上市公司CEO的薪酬情况为研究样本,实证检验了在中国情境下CEO过度自信对薪酬水平和薪酬结构的影响。研究发现:过度自信的CEO比非过度自信的CEO拥有更高的总薪酬和股权激励强度以及更低的现金薪酬比例;同时,相比非国有企业,国有企业中CEO过度自信对薪酬的影响更为显著。进一步研究发现:企业面临的风险大小和创新程度会强化过度自信与CEO薪酬之间的关联关系。