Explaining tourism expenditure based on trip characteristics in emerging urban-cultural destinations

2017 ◽  
Vol 72 (1) ◽  
pp. 68-86 ◽  
Author(s):  
Juan Ignacio Pulido-Fernández ◽  
Pablo Juan Cárdenas-García ◽  
Isabel Carrillo-Hidalgo
Keyword(s):  
New Technologies ◽  
Least Squares Method ◽  
Ordinary Least Squares ◽  
Trip Planning ◽  
Content Type ◽  
Tourist Destinations ◽  
Microeconomic Analysis ◽  
Tourism Expenditure ◽  
Development Levels ◽  
Use Of The Internet

Purpose The purpose of this paper is to examine, through a microeconomic analysis, the extent to which trip characteristics influence tourism expenditure in 14 emerging urban-cultural cities in Andalusia (Spain). Design/methodology/approach This analysis was carried out using an ordinary least squares method, which measures influence on tourism expenditure based on the trip characteristics of tourists visiting emerging urban-cultural cities. For this, the authors used 3,030 surveys conducted on tourists who, in 2013, visited 14 emerging urban-cultural cities in Andalusia (Spain). Findings It was confirmed that certain trip characteristics – type of accommodation, length of stay, trip planning and internet use – determine tourism expenditure in these destinations. The findings provide stakeholders in these destinations with information for the implementation of policies aiming to increase revenue in destinations where tourism development levels are still in their infancy and where, therefore, there are many unexploited opportunities. Originality/value First, this study identifies those trip characteristics which influence tourist expenditure in emerging urban tourist destinations. These destinations, to date, had not been previously analysed in expenditure segmentation studies. Second, aside from the factors traditionally analysed in scientific literature, other trip-specific variables were considered; these relate to the means by which tourists familiarise themselves with their destination and the way in which they plan their trip (use of the internet), as the rise of new technologies has radically changed tourism.

The dark side of digital technology to overtourism: the case of Barcelona

2019 ◽  
Vol 11 (5) ◽  
pp. 582-593 ◽  
Author(s):  
Stéphane Bourliataux-Lajoinie ◽  
Frederic Dosquet ◽  
Josep Lluís del Olmo Arriaga
Keyword(s):  
Design Methodology ◽  
New Technologies ◽  
Secondary Data ◽  
Online Reviews ◽  
Dark Side ◽  
Content Type ◽  
Large Cities ◽  
Tourist Destinations ◽  
Rapid Spread

Purpose This study aims to offer a three-pronged reflection on overtourism in large cities such as Barcelona. The objective is to outline how technology can impact on overtourism and eventually, how to tackle the problem using technology. Design/methodology/approach The research design is based on secondary data (literature and online reviews) and a case study of Barcelona. Findings The most significant aspect is the rapid spread of comments and reviews about attractions and venues. Despite the interest in ICT generalisation, these new technologies have a dark side. Closely linked to fashion trends, some tourist destinations find themselves rapidly overbooked. Originality/value Unlike other studies, this paper reveals a dark side of technology and attempts to use technology to mitigate the impacts of overtourism.

Mandatory CSR expenditure and stock return

2020 ◽  
Vol 28 (6) ◽  
pp. 951-975
Author(s):  
Asit Bhattacharyya ◽  
Md Lutfur Rahman
Keyword(s):  
Least Squares ◽  
Stock Returns ◽  
Least Squares Method ◽  
Negative Impact ◽  
Generalized Method Of Moments ◽  
Ordinary Least Squares ◽  
Reverse Causality ◽  
Endogeneity Bias ◽  
Content Type ◽  
The Impact

Purpose India has mandated corporate social responsibility (CSR) expenditure under Section 135 of the Indian Companies Act, 2013 – the first national jurisdiction to do so. The purpose of this paper is to examine the impact of mandated CSR expenditure on firms’ stock returns by using actual CSR spending data, whereas the previous studies mostly focus on voluntary CSR proxied by CSR scores. Design/methodology/approach The authors estimate their baseline regression by using ordinary least squares(OLS) method. Although the baseline regression involving CSR expenditure and stock returns using ordinary least squares method are estimated, endogeneity and reverse causality biases are addressed by using two-stage least squares and generalized method of moments approaches. These approaches contribute mitigating endogeneity bias and biases associated with unobserved heterogeneity and simultaneity. Findings The findings document that mandatory CSR expenditure has a negative impact on firms’ stock returns which supports the “shareholders” expense’ view. This result remain robust after controlling for endogeneity bias and the use of both standard and robust test statistics. The authors however observe that this result holds for the firms with actual CSR expenditure equal to the mandated amount but does not hold for the firms with actual CSR expenditure greater than the mandated amount. Therefore, the authors provide evidence that CSR expenditure’s impact on stock returns depends on whether firms simply comply the regulation or voluntarily chose an amount of CSR expenditure above the mandated amount. Originality/value The primary contribution is to present a valid and robust evidence of negative effect of mandated CSR spending on firms’ stock returns when the mandatory CSR spending rule is already in place. This study contributes by examining the impact of mandated CSR spending on stock during post-implementation period (2015-2017), whereas other studies by Dharampala and Khanna (2018); Kapoor and Dhamija (2017); and Mukherjee et al. (2018) mainly examined the impact of legislation on Indian CSR. The authors use mandated actual CSR expenditure, whereas previous studies mostly focus on voluntary CSR proxied by CSR scores.

Housing supply and its relationships with land supply

2015 ◽  
Vol 8 (3) ◽  
pp. 375-395 ◽  
Author(s):  
Guowei Gu ◽  
Lynne Michael ◽  
Yapeng Cheng
Keyword(s):  
Least Squares Method ◽  
Linear Regression Analysis ◽  
Time Lag ◽  
Housing Price ◽  
Construction Cost ◽  
Ordinary Least Squares ◽  
Price Impact ◽  
Housing Supply ◽  
Land Supply ◽  
Content Type

Purpose – This paper aims to explore the determinants of housing supply and the relationships between land supply and housing supply in terms of quantity and time in Shanghai, China. Design/methodology/approach – Official statistical and property registration data[] from Shanghai are used to carry out multiple linear regression analysis. Findings – The authors find that land supply affects housing supply with a three-year time lag. Both construction cost and housing price impact supply with a one-year time delay. The construction cost elasticities range from 0.74 to 1.51, while housing price elasticity is 2. The authors also find that plot ratio may play more important role in the developer’s first housing sale than either plot area or sales price. An average time period from obtaining the land for residential development until marketing the product is established at 36.8 months. Research limitations/implications – Only ordinary least squares method is applied in this analysis and the property portal on which this research relies is still at an early stage. Originality/value – This research contributes to a wider understanding of issues surrounding housing supply in the local markets within China and provides the foundation for local government to better manage supply.

The effects of chairmen's social network heterogeneity on cooperative marketing innovation: evidence from Sichuan province in China

2020 ◽  
Vol 10 (5) ◽  
pp. 651-670
Author(s):  
Yu Liu ◽  
Houjian Li
Keyword(s):  
Social Networks ◽  
Social Network ◽  
Least Squares Method ◽  
Ordinary Least Squares ◽  
Sichuan Province ◽  
Content Type ◽  
Network Heterogeneity ◽  
Marketing Innovation ◽  
Positive Effects ◽  
Cooperative Marketing

PurposeThe purpose of this paper, based on first-hand data from 255 chairmen of planting cooperatives in Sichuan province, is threefold: to understand their social network heterogeneity; to understand the significance for members of marketing innovation in farmers' cooperatives and to understand the effects of chairmen's social network heterogeneity on cooperative marketing innovation.Design/methodology/approachThe research employs an empirical survey of the chairmen of planting cooperatives in rural Sichuan province. The researchers use the ordinary least squares method to conduct regression on the data and the generalized linear model to process the data and avoid errors in the model setting. In the study, the following two hypotheses are examined: (1) The heterogeneity of chairmen's social networks has positive effects on cooperative marketing innovation; (2) The effects of heterogeneous external and internal social networks on cooperative marketing innovation are different.FindingsThe results show that both external and internal social network heterogeneity has positive effects on cooperative marketing innovation, and the effects of internal heterogeneity are greater than that of external heterogeneity.Originality/valueThis paper contributes to improving the income of farmers, the innovation of farmers' cooperatives and the development of agriculture in China. It provides a new way of managing and serving members to enable the long-term sustainable development of farmers' cooperatives.

Personal welfare and intellectual capital: the case of football coaches

2014 ◽  
Vol 15 (1) ◽  
pp. 189-202 ◽  
Author(s):  
Eduardo Tomé ◽  
Iuliia Naidenova ◽  
Marina Oskolkova
Keyword(s):  
Intellectual Capital ◽  
Least Squares Method ◽  
Core Competencies ◽  
Ordinary Least Squares ◽  
Positive Influence ◽  
Content Type ◽  
Football Coaches ◽  
Proxy Indicators ◽  
Personal Welfare ◽  
Ordinary Least Squares Method

Purpose – The purpose of this paper is to present a framework that helps to analyze the dependence between personal welfare and individual (personal) intellectual capital (IIC). The authors also introduce the system of proxy indicator for personal intellectual capital (IC) of football coaches. Design/methodology/approach – This paper employs the idea that personal welfare depends on personal IC, particularly, talent. That is why initially the literature analysis of welfare phenomenon was provided. Then the system of available proxy indicators of football coaches’ IC was designed. To achieve the purpose a linear function is estimated with the help of ordinary least squares method. Findings – The chosen set of IC proxy indicators explain the significant part of coaches’ salary. Such proxies as improvement in the championship table and coach's image in media have a significant and positive influence on coach's salary. Whereas, lowering the position of the club does not considerably affect the coach's wealth. A clubs’ financial capacities and budget also influences coaches’ salaries. Research limitations/implications – Traditional limitation of proxy indicators-based studies is connected with their eligibility and complexity. Practical implications – The possibility to codify IC of a person enables to analyze core competencies necessary in a particular activity or profession for success achievement. Moreover a policy of inequality reduction should take into account that intangible assets are at the base of those persons wealth. Originality/value – This is the first paper that employs IC concept to people wealth while previous literature is dedicated to companies’ or countries’ IC.

scholarly journals The impact of financial sector reforms on foreign direct investment in an emerging economy: empirical evidence from Ghana

2020 ◽  
Vol 2 (4) ◽  
pp. 271-284
Author(s):  
Kofi Kamasa ◽  
Isaac Mochiah ◽  
Andrews Kingsley Doku ◽  
Priscilla Forson
Keyword(s):  
Foreign Direct Investment ◽  
Empirical Evidence ◽  
Direct Investment ◽  
Least Squares Method ◽  
Financial Sector ◽  
Ordinary Least Squares ◽  
Sector Reform ◽  
Content Type ◽  
Financial Sector Reform ◽  
The Impact

Purpose This paper aims to empirically investigate the impact that financial sector reforms have on foreign direct investment (FDI) in Ghana. Design/methodology/approach Composite financial sector reform index was constructed, which was made up of various forms of reform policies that were implemented from 1987 to 2016. The auto regressive distributed lag bounds test was used to establish cointegration between variables. Having controlled for other covariates that affect FDI such as trade openness, exchange rate, gross domestic product per capita, inflation and by using the fully modified ordinary least squares method, the estimations are robust as it uses a semi-parametric correction to avoid for any possible issues of endogeneity and serial correlation. Findings Results from the paper reveal that financial sector reform deepening boost FDI with a 2.167% increase in FDI following from a unit percentage improvement of the financial sector reforms. Considering the various categories of reforms, the results reveal that competitive reforms have the highest impact on FDI followed by privatization reforms with positive and significant elasticity coefficients of 2.174% and 0.726%, respectively. Behavioral reforms revealed a positive effect on FDI, albeit insignificant. Originality/value The paper contributes to policy by providing empirical evidence on the effect of financial sector reform on FDI inflows in Ghana. As far as the review of literature is concerned, this paper provides the foremost empirical evidence on the subject with sole emphasis on Ghana. Thus, this paper suggests the deepening of the financial sector reforms, improving competition and maintaining macroeconomic stability.

Art as an investment alternative: the case of Argentina

2017 ◽  
Vol 30 (3) ◽  
pp. 362-382 ◽  
Author(s):  
Urbi Garay ◽  
Gwendoline Vielma ◽  
Edward Villalobos
Keyword(s):  
Latin American ◽  
Price Index ◽  
Least Squares Method ◽  
Ordinary Least Squares ◽  
Visual Artists ◽  
Content Type ◽  
Works Of Art ◽  
Time Period ◽  
High Volatility ◽  
Ordinary Least Squares Method

Purpose The purpose of this paper is to present the formulation of the first exhaustive price index for Argentinian (and other Latin American countries) visual artists using 5,069 works sold in auctions by 71 Argentinian artists during the years 1980-2014. Design/methodology/approach The authors estimated a regression of hedonic prices using the ordinary least squares method. When the regression was run and the results were analysed, the authors then estimated the annual price index of Argentinian artists’ work to then compare them with different financial and economic variables. Findings The average annual nominal arithmetic rate of return in dollars for Argentinian art during this period was 6.81 per cent, with a 29.11 per cent standard deviation. Argentinian art shows a low correlation with Argentinian and US companies’ shares and a slightly negative correlation with US bonds. This is the reason for artworks to be included in investors’ portfolios despite the relatively high volatility. Research limitations/implications Valuating works of art in Argentina can be explained by a series of their attributes. The benefits of art as an investment should be contrasted with factors including illiquidity and high transaction costs that are inherent when investing in works of art. Practical implications Argentinian artists’ works have higher prices when, ceteris paribus, they are dated; they are auctioned in either Christie’s, Sotheby’s, Galería Arroyo, Roldan & Cia, Meeting Art, or Naon & Cia; they are oil or acrylic paintings; they are larger in size – although the price increase is decreasing when the size of the painting increases; and when the artist dies before their work is auctioned. Originality/value This work presents the first rigorous price index of Argentinian artists’ works. Additionally, and as far as the authors have been able to observe, the time-period in this article is the longest that has been used in studies on art as an investment in emerging markets.

Organizational capital, intellectual capital and cost stickiness (evidence from Iran)

2017 ◽  
Vol 18 (3) ◽  
pp. 625-642 ◽  
Author(s):  
Ali Mohammadi ◽  
Parastoo Taherkhani
Keyword(s):  
Intellectual Capital ◽  
Least Squares Method ◽  
Ordinary Least Squares ◽  
Low Rank ◽  
Organizational Capital ◽  
Content Type ◽  
Structural Capital ◽  
Significant Difference ◽  
The Relationship ◽  
Cost Stickiness

Purpose The purpose of this paper is to identify the relationship between organizational capital and the subsets of organizational capital (intellectual capital (IC)) cost and cost stickiness. Design/methodology/approach This study is causal correlational research. The data related to the company’s financial statements were collected using the Rahavard Novin Software and www.rdis.ir. In this study, panel data were run with the use of Eviews 8, in order to test the hypotheses. The ordinary least-squares method is used in this study to estimate the parameters of the model. Findings The results obtained from the study show that there is a significant relationship between organizational capital and cost stickiness. However, there is no significant difference between high and low rank in terms of organizational capital and cost stickiness. In addition, there is a significant difference between IC and cost stickiness. Moreover, there is no significant difference between the components of IC and cost stickiness. Also, IC has an effect on the intensity of the relationship between organizational capital and cost stickiness. Originality/value This study explores the relationship between organizational capital and the subsets of IC and cost stickiness. Independent variables used in this study include organizational capital, IC and its components in the Pulic model, i.e. the efficiency of capital employed, the efficiency of human capital and the efficiency of structural capital.

Motives behind remittances

2019 ◽  
Vol 46 (6) ◽  
pp. 775-791
Author(s):  
Navita Pal ◽  
Rama Pal
Keyword(s):  
Least Squares Method ◽  
Sample Selection ◽  
Probit Model ◽  
Ordinary Least Squares ◽  
Content Type ◽  
Migrant Families ◽  
Main Motive ◽  
Nationally Representative ◽  
Ordinary Least Squares Method ◽  
Part Model

Purpose The purpose of this paper is to empirically investigate whether the motives behind sending remittances differ for the migrants from single- and multi-migrant families in India. Design/methodology/approach The paper uses the second round of India Human Development Survey conducted in the year 2012 to analyse migrant’s motives using the two-part model and the sample selection model (SSM). Here, the probit model is used to model whether the migrant sends the remittances and then the amount of remittances is modelled using the ordinary least squares method. The SSM assumes that these two decisions are interdependent. This migrant-level study is the first to segregate single- and multiple-migrant settings and compare them for the existence of altruism or inheritance motives. Findings The findings indicate altruism as the main motive behind remittances for the single migrants in India. On the other hand, presence of inheritance motive is evident along with altruism in the multi-migrant setting. Research limitations/implications The analysis is restricted due to limited availability of information on migrant as the data are collected from the migrant’s family at origin. Originality/value This is the first study to use a unique nationally representative survey which enables it to point out differences in the motives behind remittances for the single-migrant and multi-migrant settings in India.

Geographical aggregation and incubator graduation performance: the role of incubator assistance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bojun Hou ◽  
Jin Hong ◽  
Yang Yang
Keyword(s):  
Positive Relationship ◽  
Technical Assistance ◽  
Least Squares Method ◽  
Ordinary Least Squares ◽  
Content Type ◽  
Multiple Observations ◽  
Start Ups ◽  
The Relationship ◽  
Ordinary Least Squares Method

PurposeThis paper attempts to use agglomeration theory and ecological theory to explore how geographic agglomeration affects the graduation performance of incubator community. The authors argue that increasing the incubator community density can improve the opportunities for mutualism and learning among incubators. However, as the competition intensifies, the above positive relationship will weaken when the incubator density exceeds a certain level.Design/methodology/approachThe authors use a unique panel dataset of 438 National Technology Business Incubators (NTBIs) in China spanning from 2008 to 2012. Since each NTBIs contains multiple observations for different years, these observations that belong to a cross-section are not completely independent of each other; therefore, the regression using ordinary least squares method underestimates the standard deviations of the variables. To solve this problem, the authors regress this cluster panel data using the Newey–West robust variance estimator.FindingsThe empirical results show that incubator community density is conducive to promoting incubation performance, while the positive relationship between the incubator community density and incubation performance gradually weakens as the population density of incubators surpasses a certain level. Further, the authors examine how incubator assistance (technical assistance and business assistance) moderates the relationship between incubator density and incubation performance. The results indicate that this positive relationship is stronger when more business assistance is provided by incubator managers, while the moderating role of technical assistance is not supported.Originality/valueThis paper enriches the research on the relationship between incubator community density and graduation performance from the perspective of incubator assistance which helps start-ups to understand, absorb and transform external knowledge and resources, thereby promoting their growth.

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