Preface

【正】Since the seminal JFE paper published by Jensen and Meckling in 1976(Jensen and Meckling,1976)the agency theory has been widely applied in numerous studies i...     

Re-examination of the effect of ownership structure on financial reporting: Evidence from share pledges in China

In this paper, we present evidence that firms with concentrated ownership manage earnings when their large shareholders have an incentive to do so.The large sha...     

Do business groups affect corporate cash holdings?Evidence from a transition economy

We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by prov...     

Ownership balance,supervisory efficiency of independent directors and the quality of management earnings forecasts

In the Chinese securities market, with its characteristics of influence through personal relationships(Guanxi) and underdeveloped standards of law and enforceme...     

Visitor Attractions in Northern Ireland: The Relationship between Visitor Number Performance and Ownership Type 1990–2002

The visitor attractions market in Northern Ireland is in a state of flux, having experienced a tidal wave of investment between 1990 and 2002, simultaneouslywith continuing political stability. This research provides a longitudinal study of visitor numbers to attractions in relation to ownership type. Prior to the 1960s Government Departments and the National Trust predominantlymanaged Northern Ireland's attractions. Seventynew attractions developed byprivate owners and local authorities opened in the 1990s resulting in a phenomenal number of new museums and visitor centres, decreasing averages of visitors per attraction generally, and saturation of the market especiallyin the south of the region. The research profiles the characteristics of 195 attractions byownership type and looks at visitor numbers to a sample of 83 attractions for which there was comparable data between 1996 and 2002. Discussion centres on the contrast in performance between government owned attractions, which, unlike their UK counterparts, have declined in visitor numbers, and National Trust attractions which have out performed the two new categories of ownership in terms of percentage growth. Four scenarios are presented in relation to product management and discussed in relation to policyconsiderations, sustainabilityand qualitymanagement and training development. If closures of attractions are to be avoided, visitor numbers will need to grow at an accelerated rate and this can onlyhappen within a secure political environment and with enhanced quality management in the sector.