The determinants of inbound tourism to Malaysia: a panel data analysis

Malaysia has experienced a significant increase in tourist arrivals over the past 10 years. The challenge is to sustain this growth and therefore it is important to understand the factors influencing inbound tourism to Malaysia. This paper investigates the economic and non-economic determinants of international tourist flows to Malaysia using the generalized method of moment. The annual panel data set includes the number of arrivals from 33 countries during the period 2000–2012, and the number of possible explanatory variables. It is found that habit persistence (word of mouth), income, hotel room and political stability have a positive impact on tourism demand for Malaysia. Also, results indicate that the estimated coefficients of substitute tourism price in the model are negative. This implies that the five alternative destinations are complementary destinations to Malaysia. In addition, the dummy variable for Visit Malaysia Year in 2007 and severe acute respiratory syndrome in 2003 had positive and negative impacts on tourism demand for Malaysia, respectively.     

A hedging policy for carriers’ selection under availability and demand uncertainty

We address a stochastic dynamic distribution problem where a family of products needs to be shipped from a warehouse to a distribution center (DC). Uncertainty is on carriers’ availability and demand at the DC. Internal, external and spot carriers must be optimally selected to minimize the expected discounted cost of transportation, inventories and shortages. We numerically prove that an optimal selection policy, SDMBSP, is based on three thresholds of the available inventory in the DC. A simulation model is proposed and proves the robustness of the SDMBSP and its outperformance over two other carrier selection policies.     

Uncertain monitoring and modeling in a watershed nonpoint pollution program

Performance-based programs governing land use rely on environmental measurement, prediction, and assessment. Yet complex, nonlinear social and environmental change can lead to uncertainties in quantification and forecasting and create challenges for operationalizing programs. This research examines the roles that environmental monitoring and modeling uncertainty play in experimental land and water governance through an analysis of a regulatory water quality program in Wisconsin, USA. The case demonstrates how uncertainties in measurement and prediction of pollution runoff shape program design and participant perceptions. We draw on interviews, a survey, participant observation, and policy document analysis to illustrate how regulators and participants (including municipalities, sewerage treatment plants, farmers and nonprofit organizations) perceive and react to uncertainty. Because current and future water quality data are based largely on model estimates, but regulatory compliance will likely be based on measured in-stream outcomes, participants must evaluate potential risks of involvement. Stakeholders have relied on partnership building and legal modifications such as extended compliance timelines to reduce the risks associated with uncertainty. Experimentation under uncertainty led to sustained stakeholder dialogue, and an iterative process of deciding how monitoring and modeling should be used to track and prove program progress.     

Management control systems in inter-agency collaboration: a case study

This paper explores the nature of management control systems in an inter-agency collaborative arrangement. A Western Australian case study (the PECN project) highlights strategies for successfully providing services to people with highly complex needs, which could not be achieved by siloed attempts by individual agencies. This paper makes a significant contribution by providing evidence on multiple control systems which combine both horizontal and vertical controls to achieve better outcomes. The authors found strong evidence of trust-based relationships among the agencies which appeared to have a positive effect on inter-agency working.     

Brand Equity, Consumer Learning and Choice

The aim of this paper is to explore the links between brand equity, consumer learning and consumer choice processes in general and considering two recent trends in the market place: store brands and the Internet. We first review the advances that have occurred in brand equity research in marketing in the past decade, with particular emphasis on integrating the separate streams of research emanating from cognitive psychology and information economics. Brand equity has generally been defined as the incremental utility with which a brand endows a product, compared to its non-branded counterpart. We amplify this definition: we propose that brand equity be the incremental effect of the brand on all aspects of the consumer's evaluation and choice process. We propose an agenda of research based on this amplified definition.     

OPTIONED PORTFOLIO SELECTION: MODELS AND ANALYSIS

The mean‐variance model of Markowitz and many of its extensions have been playing an instrumental role in guiding the practice of portfolio selection. In this paper we study a mean‐variance formulation for the portfolio selection problem involving options. In particular, the portfolio in question contains a stock index and some European style options on the index. A refined mean‐variance methodology is adopted in our approach to formulate this problem as multistage stochastic optimization. It turns out that there are two different solution techniques, both lead to explicit solutions of the problem: one is based on stochastic programming and optimality conditions, and the other one is based on stochastic control and dynamic programming. We introduce both techniques, because their strengths are very different so as to suit different possible extensions and refinements of the basic model. Attention is paid to the structure of the optimal payoff function, which is shown to possess rich properties. Further refinements of the model, such as the request that the payoff should be monotonic with respect to the index, are discussed. Throughout the paper, various numerical examples are used to illustrate the underlying concepts.     

劳动关系发展趋势研究——基于概念演化视角的分析

目前学术界对劳动关系问题的探讨缺乏基础理论层面的研究,对劳动关系概念称谓、基本性质和演变规律缺乏卓有成效的系统研究.本文甄别了若干基础概念,认为劳动关系在不同时期、不同地域有着不同的表现形式,体现着不同的时代背景和内容特征,而劳动关系这一称谓更适合我国使用;总结了市场劳动关系的基本性质、分析了劳动关系现实冲击及其根由,提出了促进劳动关系趋向和谐发展的科学规制方法.     

基于多Agent的列车编组计划优化模型研究

本文阐述了货物列车编组计划的复杂性,引入多Agent技术,建立了基于多Agent的编组计划优化模型,并重点讲述了Agent之间的交互机制以及车流合并过程,最后指出了该方法的优越之处,对于列车编组计划智能化编制具有借鉴作用.     

基于交易维度的心理契约动态过程分析

心理契约的核心内容指雇佣双方对彼此责任的内隐期望，其最重要的维度是交易维度和关系维度。在“交易-关系”心理契约的维度中，更具差异性的是交易维度，而且作为实证研究交易维度更容易把握和量化，心里维度的破裂最后也是落脚到交易维度。交易维度的心理契约构建包括心理契约的形成、改变、破裂略及补救四个动态循环的过程。分析这四个循环过程及其动态特征，有利于交易维度的心理契约的缔结。