scholarly journals Residents’ perceptions of wine tourism on the rural destinations development

2019 ◽  
Vol 122 (8) ◽  
pp. 2739-2753 ◽  
Author(s):  
Darko B. Vukovic ◽  
Moinak Maiti ◽  
Aleksandra Vujko ◽  
Riad Shams
Keyword(s):  
Interpersonal Communication ◽  
Local Population ◽  
Local Communities ◽  
Policy Implications ◽  
Cultural Impact ◽  
Content Type ◽  
Wine Tourism ◽  
Path Diagram ◽  
Rural Destinations ◽  
The Impact

Purpose The purpose of this paper is to study the impact of wine tourism on rural destination development. Consequently, this study attempts to develop contemporary insights on this under-researched area such as residents’ perceptions of wine tourism and its impact on the rural destination development. Design/methodology/approach In this study, the authors used a structured survey questionnaire from a random sample of 318 respondents based on the Fruška Gora Mountain in Serbia. Research also used structural equational modeling for empirical econometric testing in this data sample. This technique is appropriate for multivariate analysis. Findings Personal resident benefit associated with wineries is positively related to resident perceived economic impact (H1) R2=0.624; socio-cultural impact (H2) R2=0.685 and environmental impact (H3) R2=0.716 of wineries on local communities. Looking at the path diagram, the authors concluded that personal resident benefit associated with wineries is strongly related to resident perceived impact of wineries on local communities as regression weights are higher. Other findings relate those residents’ positive perceptions of wine tourism to increases in sales revenue, environmental protection, intrapersonal and interpersonal communication. Research limitations/implications The positive attitude of the local population is an essential link of development. Such understanding of residents’ perceptions optimizes destination management in the future and, more importantly, local sustainable development. This has high policy implications. Originality/value The present study contributes to the scientific circles by connecting perception research with wine tourism.

The role of public libraries in the development of social capital in local communities – a theoretical study

2021 ◽  
Vol 42 (3) ◽  
pp. 184-196
Author(s):  
Maja Dorota Wojciechowska
Keyword(s):  
Social Capital ◽  
Social Engagement ◽  
Social Life ◽  
Public Libraries ◽  
Local Communities ◽  
Social Needs ◽  
Content Type ◽  
The Social ◽  
The Impact

PurposeSocial capital, understood as intangible community values available through a network of connections, is a factor in the development of societies and improving quality of life. It helps to remove economic inequalities and prevent poverty and social exclusion, stimulate social and regional development, civic attitudes and social engagement and build a civic society as well as local and regional identity. Many of these tasks may be implemented by libraries, which, apart from providing access to information, may also offer a number of services associated with social needs. The purpose of this paper is to present the roles and functions that libraries may serve in local communities in terms of assistance, integration and development based on classical social capital theories.Design/methodology/approachThe paper reviews the classical concepts of social capital in the context of libraries. It analyses the findings of Pierre-Félix Bourdieu, James Coleman, Francis Fukuyama, Robert Putnam, Nan Lin, Ronald Stuart Burt, Wayne Baker and Alejandro Portes. Based on their respective concepts, the paper analyses the role of the contemporary library in the social life of local communities. In particular, it focuses on the possible new functions that public libraries may serve.FindingsA critical review of the concept of social capital revealed certain dependencies between libraries and their neighbourhoods. With new services that respond to the actual social needs, libraries may serve as a keystone, namely they may integrate, animate and engage local communities. This, however, requires a certain approach to be adopted by the personnel and governing authorities as well as infrastructure and tangible resources.Originality/valueThe social engagement of libraries is usually described from the practical perspective (reports on the services provided) or in the context of research on the impact of respective projects on specific groups of users (research reports). A broader approach, based on original social theories, is rarely encountered. The paper draws on classical concepts of social capital and is a contribution to the discussion on possible uses of those concepts based on an analysis of the role of libraries in social life and in strengthening the social capital of local communities.

How does ownership structure affect the financing and dividend decisions of firm?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tahar Tayachi ◽  
Ahmed Imran Hunjra ◽  
Kirsten Jones ◽  
Rashid Mehmood ◽  
Mamdouh Abdulaziz Saleh Al-Faryan
Keyword(s):  
Ownership Structure ◽  
Dividend Policy ◽  
Generalized Method Of Moments ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Debt Financing ◽  
Policy Implications ◽  
Managerial Ownership ◽  
Content Type ◽  
The Impact

Purpose Ownership structure deals with internal corporate governance mechanism, which plays important role in minimizing conflict of interests between shareholders and management Ownership structure is an important mechanism that influences the value of firm, financing and dividend decisions. This paper aims to examine the impact of the ownership structures, i.e. managerial ownership, institutional ownership on financing and dividend policy. Design/methodology/approach The authors use panel data of manufacturing firms from both developed and developing countries, and the generalized method of moments (GMM) is applied to analyze the results. The authors collect the data from DataStream for the period of 2010 to 2019. Findings The authors find that managerial ownership and ownership concentration have significant and positive effects on debt financing, but they have significant and negative effects on dividend policy. Institutional ownership shows a positive impact on financing decisions and dividend policy for sample firms. Originality/value This study fills the gap by proving the policy implications for both firms and investors, as managers prefer debt financing, but at the same time try to ignore dividend payment. Therefore, investors may not invest in firms with a higher proportion of managerial ownership and may choose to invest more in institutional ownership, which lowers the agency cost.

Currency risk impact on the financial performance of multilateral banks

2015 ◽  
Vol 13 (1) ◽  
pp. 91-118
Author(s):  
Philip Kamau ◽  
Eno L. Inanga ◽  
Kami Rwegasira
Keyword(s):  
Financial Performance ◽  
Design Methodology ◽  
Regression Coefficient ◽  
Policy Implications ◽  
Stock Exchanges ◽  
Currency Risk ◽  
Content Type ◽  
Regulatory Status ◽  
The Impact ◽  
The Relationship

Purpose – The purpose of this paper is to investigate the impact of currency risks on the financial performance of multilateral banks (MBs). Financial performance is measured here by after-tax accounting profitability or losses. Design/methodology/approach – Quantitative hypothesis regarding the impact of currency risks on the financial performance of MBs was tested by a two-tailed t test for significance of the b regression coefficient. Findings – A regression analysis was done on the total currency risk and financial performance of MBs after taking into account currency risk over eight years. The analysis of variance of the regression of the b coefficient led to non-rejection of the null hypothesis of no association, F(1, 6) = 0.77, p > 0.05. The results of the two-tailed t test on the b regression coefficient suggest that the relationship between currency risk and financial performance is statistically insignificant. Therefore, it was concluded that there is no significant impact of currency risk on the financial performance of MBs. Research limitations/implications – The results of the study can be generalized only for MBs given their peculiar characteristics as wholesale banks, which are owned mainly by governments and are generally not listed on stock exchanges. Originality/value – The study is of value to those interested in the multilateral banking industry. To the authors’ knowledge it is the first study providing empirical evidence on currency risk impact on MBs financial performance. The study finds that the currency risk impact on the financial performance of MBs is insignificant. The results are also useful to managers of MBs in terms of benchmarking their effectiveness in managing currency risk compared to their peers and learn from better performers. It has also policy implications in terms of justifying the current self-regulatory status, shareholder monitoring and governance of MBs as they are not significantly impacted by currency risk as it appears to be effectively managed.

The impact of FDI on human capital development in SACU countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Winfried Henok ◽  
Teresia Kaulihowa
Keyword(s):  
Human Capital ◽  
Secondary Level ◽  
Policy Implications ◽  
Supporting Evidence ◽  
Human Capital Development ◽  
Member States ◽  
Content Type ◽  
Level Of Education ◽  
Capital Development ◽  
The Impact

PurposeThis paper aims to examine how FDI trickle down to human capital development in SACU member states.Design/methodology/approachA longitudinal research design and feasible general least squares was used over the periods 1990 and 2018.FindingsThere is supporting evidence that FDI enhances human capital when primary school enrolment rate is used. However, the reverse holds for the secondary level of education. It can be argued that although FDI exhibits a positive effect on primary education, optimal spillovers to human capital development has not been realized. An indication that certain level of human capital may be required to ensure the optimal benefit of FDI or the types of current FDI does not enhance FDI-led-human capital hypothesis.Practical implicationsThe negative effect of FDI toward secondary level of education could be an indication of a weak absorptive capacity. SACU's current dominance of FDI activities toward extractive industries could limit potential benefit of FDI due to capacity constraints. Practical policy implications indicate that SACU member states need to ensure that it attracts FDI toward smart investment that enhances human capital development.Social implicationsThere is need to a gear FDI firms toward corporate social responsibilities that will stimulate secondary education.Originality/valueThe novelty of this paper is twofold. First, it focuses on SACU countries where majority of the people are trapped with poverty and inequality issues. Second, SACU member states have used greenfield FDI as a policy instrument to enhance human capital. However, human capital link remains weak. This creates a need to search for smart FDIs that are committed toward community transformation through human capital development.

Inspiring winery experiences to benefit destination branding? Insights from wine tourists at Yantai, China

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kyuho Lee ◽  
Stella Kladou ◽  
Ahmet Usakli ◽  
Yunxia Shi
Keyword(s):  
Service Quality ◽  
Brand Equity ◽  
Structural Equation ◽  
Equation Modeling ◽  
Convenience Sample ◽  
Content Type ◽  
Wine Tourism ◽  
Chinese Wine ◽  
Destination Brand ◽  
The Impact

PurposeThe purpose of this study is to explore the impact of service quality on the formation of destination brand equity through customer satisfaction at a winery, from the perspective of Chinese wine tourists.Design/methodology/approachThis study utilized a survey research design. A convenience sample of 311 visitors to a major winery located in Yantai, China, was surveyed, and 265 useable questionnaires were analyzed. To analyze the data, the study used partial least squares structural equation modeling (PLS-SEM).FindingsThe results of the study reveal that service quality at a winery is a significant determinant of winery satisfaction among Chinese wine tourists, which in turn affects the brand equity of a wine tourism destination.Research limitations/implicationsThis study contributes to the growing body of literature focusing on identity-based branding in the context of wine tourism. As such, this study brings together knowledge of a place branding dimension (i.e. destination brand equity), satisfaction and tourism experience at a winery.Practical implicationsThe results suggest that the road to favorable assessments of a wine destination brand (macro level) go through a satisfying experience at a winery (micro level). Therefore, the need to co-create the wine experience through various stakeholders' involvement is crucial for the success of wine tourism.Originality/valueExtant wine studies often highlight western wine tourists' behavior and examine central behavioral constructs such as winery service quality and satisfaction. This study extends previous research by: (1) investigating the issue from Chinese wine tourists' perspective and (2) integrating the destination brand equity of a wine region to current investigations that commonly focus on the service quality of a winery and wine tourists' satisfaction.

How do personality traits affect visitor’s experience, emotional stimulation and behaviour? The case of wine tourism

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ifigeneia Leri ◽  
Prokopis Theodoridis
Keyword(s):  
Personality Traits ◽  
Big Five ◽  
Holistic Approach ◽  
Big Five Personality Traits ◽  
Big Five Personality ◽  
Content Type ◽  
Wine Tourism ◽  
Revisit Intentions ◽  
The Impact

Purpose The purpose of this study is to investigate the moderation effects of the Big Five personality traits on the relationships between holistic experience constructs (i.e. servicescape and other visitors’ behaviours), emotional responses and revisit intention in the context of winery visitation experiences in Greece. Design/methodology/approach The study adopts a holistic approach to visitor experience and suggests that visitors base their experience perception on the servicescape’s attributes and other visitors’ suitable behaviours. Path analysis was adopted to measure the impact of these constructs on visitors’ emotions and the role these emotions play in predicting visitors’ revisit intentions. The moderation effect of the Big Five personality traits in such relationships was examined using the SPSS PROCESS. A self-administered, highly structured questionnaire was distributed to winery visitors in Greece; a total of 615 responses were used in data analysis. Findings The results indicate that all the examined relationships become stronger as a result of visitors having high or average scores for openness, extraversion, agreeableness and conscientiousness, or low scores for neuroticism. Research limitations/implications The findings enhance the existing literature pertaining to experiential marketing, wine tourism marketing and the role of personality in tourism by providing new insights. Practical implications The overall findings may benefit wineries in their efforts to carry out the following: increase visitors’ revisit intentions; design and manage the winery environment and the winery experience effectively; and design marketing strategies. Originality/value The paper’s originality lies in providing information to clarify the role of visitors’ personalities as a contributing factor to their emotional stimulation and their revisit intentions in terms of both constructs of experience (i.e. servicescape and other visitors’ behaviours). Furthermore, this study attempts to respond to recent calls to conduct multidimensional research on the servicescape construct, focusing on both the substantive staging of the servicescape and the communicative staging of the servicescape. Finally, the present study provides new and practical insights regarding the winery experience in the Greek context – an area where very limited research has been conducted so far.

scholarly journals The potential for civic engagement of older persons in the ageing society of Thailand

2019 ◽  
Vol 33 (5) ◽  
pp. 386-397
Author(s):  
Kanchana Tangchonlatip ◽  
Aphichat Chamratrithirong ◽  
Aksarapak Lucktong
Keyword(s):  
Civic Engagement ◽  
Older Persons ◽  
Policy Implications ◽  
Active Ageing ◽  
Ageing Society ◽  
Content Type ◽  
Productive Activities ◽  
The Government ◽  
The Impact ◽  
Willingness To Engage

Purpose Several studies revealed the importance of older persons’ contribution to society. The enhancement of their potential to engage in civic activities should be encouraged. The purpose of this paper is to investigate factors associated with their civic engagement potential. Design/methodology/approach Data are from Thailand’s National Survey of Older Persons conducted by the National Statistical Office in 2011. A sample of 24,433 persons aged 60 years or older was analyzed to assess their engagement in four community activities. The data were subjected to logistic regression analysis. Findings This study found that the readiness and willingness to engage in socially productive activities of Thai older persons ranged from 7 to 23 percent depending on type of activities. The factors of ageing health, confidence in their family’s ability to assist them, and satisfaction with government services were significantly associated with their readiness and willingness to engage in socially productive activities. Inadequacy of income was not found to be an obstructing factor toward their readiness and willingness to engage in civic life in general, it inhibited only the sharing of knowledge and skills with others. Originality/value The findings reflect the impact of internal constraining factors and external enhancing factors on engagement of Thai older persons in civic activities. Policy implications on the role of the government to promote active ageing are discussed.

Oil price uncertainty and equity returns

2016 ◽  
Vol 8 (1) ◽  
pp. 64-79 ◽  
Author(s):  
Aktham Maghyereh ◽  
Basel Awartani
Keyword(s):  
Stock Returns ◽  
Oil Production ◽  
Equity Returns ◽  
Oil Price ◽  
Policy Implications ◽  
Price Uncertainty ◽  
Mena Region ◽  
Stock Market Returns ◽  
Content Type ◽  
The Impact

Purpose This paper aims to examine the impact of oil price uncertainty on the stock market returns of ten oil importing and exporting countries in the Middle East and North Africa (MENA) region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. Design/methodology/approach This paper intuitively applies the generalized autoregressive conditional heteroskedasticity (GARCH)-in-mean vector autoregression (VAR) model using weekly data over the period January 2001-February 2014. Findings The findings indicate that oil uncertainty matters in the determination of real stock returns. There is a negative and significant relationship between oil price uncertainty and real stock returns in all countries in the sample. The influence of oil price risk is more serious in those economies that depend heavily on oil revenues to grow. Practical implications The findings have important implications. For instance, managers should be aware of the linkages between oil price uncertainty and equity returns when they use oil to hedge and diversify equities, particularly in economies where oil is important for economic growth. The policymakers in oil importing countries should encourage companies to improve efficiency in the usage of energy and to resort to alternative sources to avoid fluctuations in earnings and equity prices. In the countries that heavily depend on oil efforts should focus on diversifying the domestic economy away from oil to protect against oil price fluctuations. Originality/value To the best of our knowledge, this is the first attempt to study the influence of oil price uncertainty in the MENA region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. The empirical findings of the paper have valuable policy implications for investors, market participants and policymakers.

Work‐life balancing strategies used by women managers in British “modern” universities

2007 ◽  
Vol 26 (1) ◽  
pp. 6-17 ◽  
Author(s):  
Diana Woodward
Keyword(s):  
Higher Education ◽  
Role Models ◽  
Women Managers ◽  
Working Hours ◽  
Work Life ◽  
Policy Implications ◽  
Content Type ◽  
Integrate Work ◽  
The Uk ◽  
The Impact

PurposeThe “work‐life balance” literature is mainly concerned with the provision and up‐take of flexible employment patterns. The purpose of this qualitative study of women managers' coping strategies for reconciling work with their other roles and responsibilities is to provide a complementary perspective.Design/methodology/approachSemi‐structured extended interviews were carried out with 16 women managers of academic or “support” departments in eight UK post‐1992 universities, about their working practices and how they sought to integrate work with other parts of their lives.FindingsThese women reported high workloads, requiring long working hours, which consumed time and energy otherwise available for other relationships and commitments and their own leisure. Various strategies were adopted to manage the situation, including establishing rigid boundaries between work and non‐work, and shifting these boundaries in favour of work when necessary. Temporal, spatial and symbolic distinctions were used to contain work. Women without dependent children were more likely to be able to redefine boundaries when necessary to favour work.Research limitations/implicationsAs a small and possibly unrepresentative sample of UK women managers in higher education, the study could usefully be extended through comparisons with male peers, and with women managers in other sectors. (It is the preliminary phase of a comparative study of women employed in universities in the UK and Japan.) However, the findings broadly replicate other studies.Practical implicationsThere are policy implications for universities, which need feedback from staff about the impact of equal opportunities initiatives to inform further progress.Originality/valueThis study provides qualitative information on women working in non‐traditional key posts in higher education, who are well‐placed to challenge organisational cultures and act as role models.

Audit-related attributes, regulatory reforms and timely disclosure

2017 ◽  
Vol 15 (2) ◽  
pp. 158-179 ◽  
Author(s):  
Khaled Samaha ◽  
Hichem Khlif
Keyword(s):  
Audit Committee ◽  
Stock Exchange ◽  
Emerging Market ◽  
Chief Executive ◽  
Policy Implications ◽  
Fiscal Year ◽  
Audit Report ◽  
Content Type ◽  
The Impact ◽  
Regulatory Reforms

Purpose This paper aims to examine the impact of audit-related attributes and regulatory reforms on timely disclosure as proxied by audit report lag (ARL) in an emerging market setting, namely, Egypt. Design/methodology/approach The paper used the balanced panel data of 372 firm-years observations of the most actively traded companies on the Egyptian Stock Exchange over the period from 2007 to 2010. The study measures the dependent variable of ARL as the number of days between the client’s fiscal year-end and the audit report. Findings Multivariate analysis indicates that audit committee activity (proxy for regulatory reforms) and external auditor type (proxy for audit-related attributes) contribute significantly to the reduction of ARL and increase disclosure timeliness. Furthermore, the paper found that ARL witnessed a slight decrease following the adoption of the new Egyptian Standards on Auditing (ESA). Finally, the paper’s findings show that industry types moderate the relationship between ARL and several audit-related variables and corporate governance attributes. Practical implications The results may have policy implications for both regulators and investors. For instance, policymakers in Egypt can enact new rules to reduce the Chief Executive Officer duality and establish the minimum required number of audit committee meetings to improve transparency level and, thus, increase disclosure timeliness. Besides, if future regulations aiming to increase disclosure timeliness are intended by Egyptian regulators, this paper’s findings suggest that this may have implications for the audit market because the Big Four audit firms will be more able to meet shorter audit delays. Originality/value The empirical evidence provided in this study further enhances the understanding of timely disclosure in Egypt which represents one of the leading emerging markets in the Middle East and North Africa region.

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