The effects of open skies agreements on transatlantic air service levels

This paper examines the effects of Open Skies agreements on service levels in transatlantic aviation markets. Our route analysis reveals that Open Skies agreements between European countries and the US have resulted in both increases and decreases in service levels. Of the 22 European countries with US Open Skies agreements in place by 2007, only seven demonstrated increases in service levels while six showed reductions. Five countries saw no significant change and the remaining four have yet to receive direct transatlantic service, suggesting that liberalization alone does not lead to service level increases.     

Advertising directed to children: A look at the mother's point of view

The issue of whether to ban children's advertising from television has generated quite a controversy over the past several years. One view of the controversy which has received little attention, however, is the mothers'. This paper looks at those mothers who are both pro can con with regard to the idea of banning children's advertising. Bold Advertising     

Impact of the Emerging Financial Holding Company Model on Small Business Borrowers' Financial Welfare: Contemporary Evidence from Nigeria Based on the Monti‐Klein Approach

This study exploits the adequacy of the Monti‐Klein model to analyse the banking firms' lending behaviour and uses the geometric lag analytic model to detect the lifespan of bank conglomeration impacts on small business financial welfare. We find that, although the impact of emerging conglomerate banks on lending to small businesses is significantly negative (δ = ?0.6897; p < 0.01), the effect reverses to a pre‐conglomerate positive status within one year. Hence, bank conglomeration does not negatively affect the financial welfare of small business borrowers in the long run. Contrary to the widespread belief and fear, the negative effects are not permanent. Large banks are feared to have no time for mid‐sized businesses. We find, however, that mere increases in size, as may be caused by economic or internal growth, do not pose a threat to small businesses. Large‐sized banking firms positively and significantly correlate with small and predictable risks (δ = 1.7935; p < 0.01). Hence, contrary to what regulators fear, there is no real issue surrounding the idea that building diversifying banks will influence small business loans negatively. What matters is the means through which large banks emerge. Therefore, regulators ought to exercise caution so that they do not discourage their emergence.     

To What Extent do United Kingdom Companies Provide Oil and Gas Reserves Information Sufficient to Satisfy Statement of Recommended Practice Requirements?

The uncertainty surrounding oil and gas reserves estimation and the cost of gathering reserves data discourage firms from disclosing sufficient data to satisfy SORP (statement of recommended practice) requirements, especially where oil and gas reserves disclosure is discretionary. However, the need to reduce agency cost and signal to stakeholders induces firms to disclose oil and gas reserves. The contrasting views on the rationale guiding the extent of disclosure were examined in this study. A sample was drawn from 83 United Kingdom (UK) oil and gas exploration and production companies listed on the London Stock Exchange. Appropriate statistical tools were used to investigate the extent of oil and gas reserves disclosure. The findings provide mixed results about the extent of disclosure to meet SORP's requirements. There was no particular evidence that UK oil and gas companies provide qualitatively acceptable oil and gas reserves quantity information. The observed varying degrees of disclosure in the market could be attributed to a discretionary regime that allows firms to determine how and when to disclose. Policy makers and industry regulators could find the results useful in assessing the current extent of disclosure compliance.     

Does CSR contribute to the development of rural young people in cultural tourism of sub-Saharan Africa? Evidence from the Niger Delta in Nigeria

ABSTRACT

We assess the impact of a new corporate social responsibility (CSR) model of multinational oil companies on the development of rural young people (RYP) in cultural tourism in the Niger Delta of Nigeria. Six hundred RYP were sampled across the rural Niger Delta region. Using the logit model, results indicate that RYP have remained widely excluded from the General Memorandum of Understandings (GMoUs) interventions in cultural tourism projects due to the traditional beliefs that cultural affairs are prerogatives of elders, a caveat to the youths. This implies that if the traditions of the communities continue to hinder direct participation of the RYP from the GMoUs cultural tourism project interventions, achieving equality and cultural change would be limited in the region. The findings suggest that since handicrafts are key cultural products consumed in the tourism industry, GMoUs can play a role in helping to create an appropriate intervention structure that will be targeted towards youth empowerment in the area of traditional handicraft. This can be achieved if the Cluster Development Boards would focus on integrating rural young artisans into local tourism value chains, ensuring they benefit economically from the sector, and creating space for the views of RYP indigenous handicrafts knowledge.     

The Relative Importance of Monetary Policy,Uncertainty, and Financial Shocks

Open Economies Review - Motivated by recent research suggesting that uncertainty and financial shocks have become the most important sources of business cycle fluctuations, we assess the relative...     

The use of telephone dials as attitude scales: A laboratory experiment

Some researchers have expressed concern that the lack of a physical representation of an attitude scale in telephone surveys hinders repondents in answering attitude questions. One suggested remedy is to ask respondents to refer to their phone dial (a 9-point scale) in answering such questions. The method has been shown to be easily administered and enjoyable to respondents. However, additional concerns have been raised as to whether the use of telephone dials as scales produces different responses than would be obtained using printed scales on opinion cards or in self-administered questionnaires. This paper reports on the results of an experiment designed to address these concerns. The authors found that the use of telephone dials (as compared to other scales) produced no significant difference in response.     

Hospitality management study programme and students’ perceptions: universities in South Africa

This study using a questionnaire survey of 200 hospitality management students in two South African Universities assessed the perceptions of these students towards their study programme, the support they get while studying, and their intention to work in the hospitality sector over the long-term. Results from data analyses indicate that the students are generally satisfied with their study and would recommend hospitality management as a study programme to friends and relatives. Many of them also expressed the desire to work in the hospitality sector over the long-term. Their major concerns towards their study are in the areas of inadequacy of the hospitality management curriculum to address their study needs, the fear that fulfilling jobs will not be available for them after graduation, and their lack of knowledge regarding public and private funding for hospitality entrepreneurship activities. This study therefore calls on hospitality management study programme managers in South Africa to include entrepreneurship courses that address how graduates can source public or private funds to start up their own hospitality businesses, to decrease dependence on employers. Graduates with comprehensive and integrated knowledge of the hospitality sector operations and opportunities will not have fear of getting jobs and performing well in the sector.