Pricing VIX derivatives with free stochastic volatility model

Review of Derivatives Research - This paper aims to develop a new free stochastic volatility model, joint with jumps. By freeing the power parameter of instantaneous variance, this paper takes...     

The effect of cultural differences in perceptions of transactions costs on national differences in the preference for international joint ventures

This study presents a theoretical explanation of why the cultural trait of power distance represents greater perceptions of transaction costs and lower perceptions of governance costs across societies. It demonstrates that cultural differences in perceptions of transactions and governance costs as represented by Hofstede's (1980) power distance index explain national differences in the preference for international joint ventures after market size, government limitations on sole ownership and uncertainty avoidance have been controlled. The study concludes that cultural differences in transaction costs provide an important extension to the transaction costs theory of joint ventures.     

Affection not affliction: The role of emotions in information systems and organizational change

Most IS research in both the technical/rational and socio-technical traditions ignores or marginalizes the emotionally charged behaviours through which individuals engage in, and cope with the consequences of, IS practice and associated organizational change. Even within the small body of work that engages with emotions through particular conceptual efforts, affections are often conceived as a phenomenon to be eradicated – an affliction requiring a cure. In this paper, I argue that emotions are always implicated in our lived experiences, crucially influencing how we come to our beliefs about what is good or bad, right or wrong. I draw from the theoretical work of Michel Foucault to argue for elaborating current notions of IS innovation as a moral and political struggle in which individuals’ beliefs and feelings are constantly tested. Finally, I demonstrate these ideas by reference to a case study that had considerable emotional impact, and highlight the implications for future work.     

Can genetic factors influence the likelihood of engaging in entrepreneurial activity?

This article offers an argument for how genetic factors may influence the tendency of people to engage in entrepreneurial activity, and describes four mechanisms through which genetic factors could operate. It also explores ways that researchers can use quantitative and molecular genetics to examine entrepreneurship, and discusses the potential implications of a genetic perspective for management research on entrepreneurship.     

The impact of seasonality on tourism and hospitality operations in the alpine region of New South Wales,Australia

Despite the recognized importance of seasonality for tourism businesses, there has been a distinct lack of studies undertaken in the past that discuss the impact of seasonality on alpine accommodation resorts, and more specifically that focus on an Australian location. The main purpose of this study was to examine whether or not the Australian alpine accommodation providers and ski operations have been significantly impacted by the issue of seasonality and to determine more specifically, had there been industry pressure placed on them to become all season operations? For this study, a total of 15 semi-structured interviews were conducted with managers of hospitality businesses located in the sub-alpine region of Jindabyne, and nearby alpine areas of Perisher and Thredbo in New South Wales, Australia. Study results indicated that the majority of managers acknowledged the fact that there has been an increase in the number of summer visitors each year which has pressured them to make changes to their operations. They conceded that such activity has served to reinforce a ‘stand alone’ mindset which was still prevalent amongst the majority of the managers in the region.