Tourism's regional development impacts : A comparative analysis of the Greek islands

This paper explores the conditions that determine tourism development and theorizes how these conditions lead to a variety of impacts on host communities. Thirty-eight Greek islands were statistically analyzed using secondary data and a smaller sample was studied in greater detail through a comparative case-study approach. While the quantity of tourism development was found to be subject to demand, its quality and integration with other sectors were associated with the size of the community. Tourism impacts were found to be beneficial in larger islands. In smaller islands with high tourist activity, while a reverse in declining demographic patterns has been observed, tourism was found to create unstable, short-term, and dualistic development. The paper concludes that factors such as the local institutional capacity to absorb development and the potential interaction of locals and tourists should be considered in the making of tourism policy.     

Earnings Management Around Share Repurchases: A Note

This work examines a subset of the important area of earnings management. Specifically, it seeks to identify the extent of earnings management preceding self-tender offers for a sample of U.S. firms. Pre-repurchase total accruals and discretionary current accruals were found to be somewhat lower for a sample of self-tendering firms compared to a sample of industry- and performance-matched control firms. Weak evidence of post-buyback accruals reversal is also presented. The evidence is weakly consistent with the notion that share repurchases are employed by managers to exploit shareholders through earnings management.