Determinants of callable convertible bond prices

A new model is proposed in this paper that efficiently estimates the after-market prices of callable convertible bonds. The proposed model is shown to be fairly stable over time and across firm size. The paper also shows that, among other factors, call price and bankruptcy indicators are significant determinants of callable convertible bond prices, suggesting that a priori specification regarding the exercise of call option and the ignorance of firm's possible bankruptcy, as done in past studies, are inappropriate for convertible bond price estimation.     

Developing marketing strategy for a resource-based industry

The significance of tourism in Canada is becoming increasingly recognized, with tourism in the top five of foreign exchange earners. This article examines the implications of defining a new market segment - that of ‘activity packages’ sought by vacation travellers. Nova Scotia - where the travel industry is the biggest generator of foreign dollars - is taken as an example of a tourist destination rich in tourism activities. Factor analysis is used to identify 12 activity packages which could facilitate more specific marketing of tourism resources, with advertising aimed at well-defined market segments.     

Effect of time on a marketing strategy

A firm that had enjoyed considerable success in the marketplace during the early stages of the product life cycle found itself losing market share. The firm and its competitors had not changed their marketing strategies since the introduction of the product. This article describes the results of research examining possible causes for the market reversal. It Was discovered that the nature of the organizational buyer and his buyer behavior changed in a predictable manner since product introduction progressed. These changes made the competitors' marketing strategy more effective and probably caused the market reversal. The implications for this firm and for firms marketing innovative products in general are discussed.     

The demand for Mi’kmaw cultural tourism: Tourist perspectives

This paper examines survey findings of tourist interest in Mi’kmaw cultural tourism in Nova Scotia. The results indicate a high interest in Mi’kmaw cultural tourism activities even though most tourists had not participated in Aboriginal tourism before. Further results indicate that tourists’ age, education and place of origin influence their level of interest in particular Mi’kmaw cultural tourism activities. Older tourists had lower interest in activities that required more time and physical activity whereas more-educated tourists had higher interest in participating in particular Mi’kmaw cultural tourism activities. Also, international tourists had the greatest interest in Mi’kmaw cultural tourism, especially activities that involved greater contact with the Mi’kmaw hosts.     

Marketing practices in less-development countries

This paper presents a symmetric analysis of the approaches used in the study of marketing practices in less-development countries, and develops another approach which has substantial promise. The proposed approach is composed of two stages. The first stage groups LDCs into specific categories followed by a matrix treatment to determine research priorities in studying marketing practices in LDCs.     

Perceptions of public land governance from two Canadian provinces: How is the social agenda being met through sustainable forest management?

This article presents a comparative assessment of current spaces for public involvement in Crown (public) land management in the Canadian provinces of New Brunswick and Nova Scotia. More specifically, it addresses the barriers to public participation by examining the agency-client relationship – specifically, through the theoretical lens of capture – as an impediment to the inclusion of values that are outside the traditional, technocratic management realm of public forest management. Without public input, the public’s needs, values, and desires are not articulated and the social side of sustainable forest management is likely to be neglected. Low levels of trust in public land management agencies in New Brunswick and Nova Scotia, coupled with minimal space for public involvement, have created the perception of a policy network that is dominated by industry and/or government and provides minimal space for other interests. The primary research method is an online survey informed by forty-two interviews. The survey was administered to 89 key forestry stakeholders in New Brunswick and Nova Scotia. Participation observation and a document analysis are utilized to complement the survey. This research finds that (1) although survey participants come from diverse affiliations and two provinces with different forest policy and unique approaches to public participation, there is essential consensus of the need for an improvement of public involvement processes for public land; (2) trust in the forest industry and the Department of Natural Resources (DNR) is extremely low in both provinces. Even with recent participatory efforts in Nova Scotia, the trust level is lower than in the neighboring province of New Brunswick. Some participants connect this distrust to privileged access for certain interest groups and a closed policy network; (3) barriers to participatory processes differ between provinces, especially a fear of retribution, which is specific to New Brunswick; and (4) key stakeholders identify barriers to engagement that they perceive to be different for themselves and the general public.     

The Delphi technique in the measurement of tourism market potential: The case of Nova Scotia

In order to plan for the development of tourism in Nova Scotia it has been necessary to gather information and opinions on the industry on a more detailed scale than has hitherto been done. Here the Delphi technique is used to gather data on tourism research, on future impacts of tourism and to strengthen a regional data base, all of which are intended to act as an effective policy-making tool in solving management and planning problems in the tourism and hospitality industry. The impact of new technology (in particular the CHECK-INN system) and training needs are discussed in detail.