Lawrence C. Hamilton, David E. Rohall, Benjamin C. Brown, Gregg F. Hayward and Barry D. Keim
New Hampshire’s mountains and winter climate support a ski industry that contributes substantially to the state economy. Through more than 70 years of history, this industry has…
Abstract
New Hampshire’s mountains and winter climate support a ski industry that contributes substantially to the state economy. Through more than 70 years of history, this industry has adapted and changed with its host society. The climate itself has changed during this period too, in ways that influenced the ski industry’s development. During the 20th century, New Hampshire’s mean winter temperature warmed about 2.1° C (3.8° F). Much of that change occurred since 1970. The mult‐decadal variations in New Hampshire winters follow global temperature trends. Snowfall exhibits a downward trend, strongest in southern New Hampshire, and also correlates with the North Atlantic Oscillation. Many small ski areas opened during the early years while winters were cold and snowy. As winters warmed, areas in southern or lowelevation locations faced a critical disadvantage. Under pressure from both climate and competition, the number of small ski areas leveled off and then fell steeply after 1970. The number of larger, chairliftoperating ski areas began falling too after 1980. Aprolonged warming period increased the importance of geographic advantages, and also of capital investment in snowmaking, grooming and economic diversification. The consolidation trend continues today. Most of the surviving ski areas are located in the northern mountains. Elsewhere around the state, one can find the remains of “lost” ski areas in places that now rarely have snow suitable for downhill skiing. This case study demonstrates a general approach for conducting integrated empirical research on the human dimensions of climate change.
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Barry Z. Posner, Bob Crawford and Roxy Denniston-Stewart
Over a period of three years (2006-2008) students entering [university] were asked to complete the Student Leadership Practices Inventory (S-LPI), and 2,855 initial responses were…
Abstract
Over a period of three years (2006-2008) students entering [university] were asked to complete the Student Leadership Practices Inventory (S-LPI), and 2,855 initial responses were received. Responding students were asked to complete the S-LPI again at the end of their first and third years of study. No significant differences were found in student use of the leadership practices based on age, geographic origin, or whether the student lived on or off campus during his or her first year. Significant differences were found based on students’ gender and program of study. Implications for leadership development programming are considered.
Menita Liu Cheng, Jianfeng Wu and Jianjun Zhang
The purpose of this paper is to examine corporate political activities (CPA) by migrant entrepreneurs to improve business performance in a host developing country.
Abstract
Purpose
The purpose of this paper is to examine corporate political activities (CPA) by migrant entrepreneurs to improve business performance in a host developing country.
Design/methodology/approach
The authors use a cross‐sectional analysis of 97 Chinese migrant entrepreneurs with business operations in a host developing economy.
Findings
A significant positive relationship was found between formal CPAs and performance.
Research limitations/implications
To further deepen the examination of CPAs, new quantification methodologies have to be applied to properly measure CPA relational strength, investment intensity and diversity.
Practical implications
The results enable migrant entrepreneurs to make a more educated decision on the type of CPAs to pursue and to what intensity.
Social implications
The results could motivate migrant entrepreneurs to adapt rapidly to the host country's formal customs to facilitate socio‐economic adaptation.
Originality/value
This study contributes to literature by examining both formal and informal CPAs, their inter‐relationship and their effects on migrant businesses, which have not been examined previously.
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Parvez Ahmed, Kristine Beck and Elizabeth Goldreyer
Outlines previous research on stock market efficiency and technical trading rules in both developed and emerging markets. Uses variable moving average (VMA) models to develop five…
Abstract
Outlines previous research on stock market efficiency and technical trading rules in both developed and emerging markets. Uses variable moving average (VMA) models to develop five technical trading rules and applies them to markets in Taiwan, Thailand and The Phillippines 1994‐1999. Compares results with the US and Japan indices and a simple buy and hold strategy. Finds the VMA rules gave higher returns in Taiwan and very much higher returns in Thailand and The Phillippines, even after transaction costs, but not in Japan and the USA. Considers the reasons why and calls for further research.
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Barri Litt, Divesh Sharma and Vineeta Sharma
The purpose of this paper is to provide initial evidence on the association between environmental initiatives and earnings management. Prior literature documents firms…
Abstract
Purpose
The purpose of this paper is to provide initial evidence on the association between environmental initiatives and earnings management. Prior literature documents firms participating in environmental initiatives to report relatively stronger financial performance. Moreover, firms with superior performance have been shown to engage in greater levels of earnings management. A natural question that arises is to what extent do firms with environmental initiatives engage in earnings management to report better financial performance?
Design/methodology/approach
The study draws on two theoretical frameworks, external monitoring and internal corporate culture, to predict an inverse association between environmental initiatives and earnings management. The authors test this prediction using an earnings management regression model, estimating discretionary accruals using the modified-Jones approach.
Findings
The study finds that firms with environmental initiatives exhibit lower earnings management proxied by absolute and income-increasing total discretionary accruals. The authors further find pollution prevention and climate related initiatives to help explain this inverse association. The results imply that firms practising environmental responsibility report better financial performance, with the most likely reason being due to real economic performance rather than through earnings management techniques.
Originality/value
This study provides initial evidence on the association between environmental initiatives and earnings management, an area of importance to all stakeholders in a market with increasing interest in corporate environmental performance and its implications.
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The purpose of this paper is to explore the consequences of appraisal smoothing in the estimation of the risks and returns of farm real estate. It examines the degree to which the…
Abstract
Purpose
The purpose of this paper is to explore the consequences of appraisal smoothing in the estimation of the risks and returns of farm real estate. It examines the degree to which the risk and return characteristics of farm real estate are an artifact of the methods used to measure aggregate property values.
Design/methodology/approach
A multifactor asset pricing model is estimated using farm real estate returns in a manner consistent with prior research, as well as using farm real estate returns calculated using two synthetic unsmoothing procedures developed in the real estate finance literature.
Findings
The model suggests that unsmoothed farm real estate returns exhibit characteristics that differ from those suggested by prior research. The unsmoothed returns suggest a stronger correlation with economy wide investment risks.
Originality/value
This is the first study to evaluate the impacts of appraisal smoothing in a farm real estate context. It provides a simple framework for addressing many of the pricing anomalies associated with farmland.
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Daniel F. Twomey, Rosemarie Feuerbach Twomey and Hesan Quazi
This exploratory research examines environmental, institutional, and behavioral factors that affect interorganizational knowledge development and transfer between United Kingdom…
Abstract
This exploratory research examines environmental, institutional, and behavioral factors that affect interorganizational knowledge development and transfer between United Kingdom business schools and business. Three theoretical bases—transaction cost economics, extension of transaction cost economics, and power properties—are integrated in order to understand and identify the antecedents and dynamics of the interorganizational interface. Results support the hypothesis that interface collaboration and face‐to‐face communications are important mediators of academic‐business outcomes—learning business practices and cooperative research.
The purpose of this paper is to understand the evolutionary influences on corporate social responsibility (CSR) literature at a global level and propose the future studies…
Abstract
Purpose
The purpose of this paper is to understand the evolutionary influences on corporate social responsibility (CSR) literature at a global level and propose the future studies required to enhance the CSR literature.
Design/methodology/approach
This paper combines the methodologies of narrative review and historical analysis. Drawing on the archival information, this paper synthesises data from multiple sources to bring out an enhanced understanding of the external influences on the development of CSR literature.
Findings
The findings suggest that the CSR literature in the previous decades has been influenced by several management domains like strategic management, marketing management and organisational behaviour. The future research is likely to be more influenced by the perspectives of national business system, politico-legal context and practical considerations related to implementation.
Practical implications
This review paper presents a case for studying the practical aspects of CSR implementation and the changing nature of the external context of CSR.
Originality/value
The paper offers unique value by combining different review methodologies and abstraction at a global level. This paper is a significant addition to better understand the impact of business events on the progress of CSR and the external influence on CSR literature.