An analysis of snow options for ski resort establishments

This study proposes a pricing method for put options on snow level for tourism establishments operating in Palandoken ski resort in the east of Turkey. In the calculation of put prices historical densities and Edgeworth adjusted densities methods together with Alaton, Djehiche, and Stillberger (2002) method have been applied. The findings show that there may be significant differences in the prices calculated by the three different methods, hence enabling both parties, i.e. buyers and sellers, with bases in the negotiation process. As the study is primarily aimed at providing a framework for pricing put options on snow levels in general, it is expected that it would be of use not only for this particular ski resort but also for various ski resorts in the world.     

Are Turkey's tourism markets converging? Evidence from the two-step LM and three-step RALS-LM unit root tests

In this study, we aim to analyse whether Turkey's 14 major tourist source markets are converging by using monthly data over the period January 1996 to December 2012. To this aim, we use the recently developed two-step Lagrange multiplier (LM) and three-step residual augmented least squares-Lagrange multiplier (RALS-LM) unit root tests that allow for two structural breaks in data. The results indicate that 10 out of 14 markets are converging, meaning that tourism policies and strategies directed at these markets are successful. Furthermore, the break points correspond to the important political, social, natural and economic events such as crisis, earthquake, disease and terrorist attack.     

Environmental performance of tourism accommodations in the protected areas: Case of Goreme Historical National Park

This study was designed to explore the nature of environmental performance of tourism accommodations in Goreme Historical National Park which is in the UNESCO World Heritage List. The data were collected from 73 accommodation managers by using survey questionnaire that included 39 environmental performance indicators. Findings show that tourism accommodations have low performance on energy efficiency, water conservation, responsible waste management, communication, environmental training, the environmental awareness, necessary knowledge about and interest in the environmental protection and environmental policy. The accommodations need to have environmentally sensitive, concerned and knowledgeable managerial staff in order to preserve ecological integrity in protected areas.     

Employee overqualification and manager job insecurity: Implications for employee career outcomes

In this study, we propose that manager job insecurity will moderate the nature of the relationship between perceived overqualification and employee career-related outcomes (career satisfaction, promotability ratings, and voluntary turnover). We tested our hypotheses using a sample of 124 employees and 54 managers working in a large holding company in Ankara, Turkey, collected across five time periods. The results suggested that average perceived overqualification was more strongly, and negatively, related to career satisfaction of employees when managers reported higher job insecurity. Furthermore, employee perceived overqualification was positively related to voluntary turnover when manager job insecurity was high. No direct or moderated effects were found for promotability ratings. Implications for overqualification and job insecurity literatures were discussed.     

The impact of gender in marketing communications: the role of cognitive and affective cues

Turkey This paper explores the role of gender in the processing of the marketing communications messages of travel agencies operating in the Turkish domestic tourism market. The study focuses on the family holiday information search process and particularly investigates how wives and husbands respond to different marketing communications messages and why. By the use of focus group studies and interviews with tourists it is established that, although there are similarities between wives and husbands in terms of their responses to various advertisements, the underlining reasons are different. While husbands make their decisions through the use of heuristic devices, such as the credibility of the sender and the attractiveness of the sender and or message, wives make their decisions based on the content of the cognitive and affective cues provided in the marketing communications messages. The research also points out that there is a large potential for improving the marketing communications messages of travel agencies operating in the Turkish domestic tourism market.     

Hospitality Employees’ Future Expectations: Dissatisfaction,Stress, and Burnout

This study aims to explore the relationship between future expectations of Turkish hotel employees and employee burnout. A survey with 260 hotel employees across Turkey measured whether employees expected their current levels of stress to increase or decrease in future. Those employees who showed signs of burnout syndrome were the ones who expected their current levels of stress to increase in future. The demographic factors such as age and education also related to stress and satisfaction levels of the employees. The findings point out that hotel employees tend to be more satisfied with their jobs at the beginning of their careers, in spite of the higher levels of perceived stress. The study has significant implications for human resource management activities and organizational climate.     

FOREIGN DIRECT INVESTMENT AND ENVIRONMENTAL REGULATIONS: A SURVEY

This paper presents a survey of the literature on the relationship between foreign direct investment (FDI) and environmental policy. First, I focus on empirical studies that analyse the impact of environmental costs on foreign investment locations. Next, I review the main studies that attempt to explain the lack of evidence for the pollution haven hypothesis. Then, I discuss the literature on the impact of FDI on local environmental regulations by concentrating on two recent political economy models. Finally, I conclude by summarizing the main findings of the literature and suggesting some future research directions.