Nicholas Apergis and Christina Christou
The purpose of this paper is to investigate contagion across eight major exchange rates by providing more information on the role of information spillovers.
Abstract
Purpose
The purpose of this paper is to investigate contagion across eight major exchange rates by providing more information on the role of information spillovers.
Design/methodology/approach
The empirical analysis makes use of two methodologies that capture channels of contagion. Such methodologies explicitly consider information spillovers characterized by the response of currency markets to real-time macroeconomic surprises, i.e., divergences between expectations and realizations.
Findings
The empirical findings denote the presence of contagion effects, originating from information spillovers.
Practical implications
The empirical findings provide insight about how to derive appropriate policy responses, which are crucial for policymakers to understand the source and nature of such exposures, while this insight might have some bearing with respect to the choice of an exchange-rate regime. The results from this paper may also have implications for investors in relevance to portfolio re-balancing and the construction of optimal portfolio diversification strategies.
Originality/value
This is the first empirical attempt that explores the role of informational spillovers in exchange rate markets and also explores the employment of advanced econometric methodologies to satisfy the above research goal.
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Nicholas Apergis, Christina Christou and Christis Hassapis
This paper aims to explore convergence of accounting standards across worldwide adopted measures to investigate whether countries that have not completely adopted International…
Abstract
Purpose
This paper aims to explore convergence of accounting standards across worldwide adopted measures to investigate whether countries that have not completely adopted International Accounting Standards across the globe have displayed a tendency to act so.
Design/methodology/approach
The new panel convergence methodology, developed by Phillips and Sul (2007), is employed.
Findings
The empirical findings suggest that countries form distinct convergent clubs, albeit on a limited prevalence, yielding support to the notion that on a global basis firms and countries have initiated processes that will eventually lead them to a uniform pattern of employing common accounting standards.
Practical implications
These findings have substantial implications on a firm level, mainly for differences in accounting quality as well as for differences in their cost of capital, thus leading the regulatory authorities to opt for further improvements in financial reporting.
Originality/value
The novelties of this paper first, stem from the fact that it is the first time in the relevant literature that an empirical study attempts to formally measure whether the accounting world exhibits a tendency for accounting standards convergence or whether tactics and policies remain stagnant, acquiring drastic policy measures to speed up the convergence process. In addition, this study employs the implementation of the new methodology of panel convergence testing. This methodology has several appealing characteristics.
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Albert Agbeko Ahiadu and Rotimi Boluwatife Abidoye
This study systematically reviewed existing literature on the impact of economic uncertainty on property performance to highlight focus areas and spur future research amid…
Abstract
Purpose
This study systematically reviewed existing literature on the impact of economic uncertainty on property performance to highlight focus areas and spur future research amid unprecedented global uncertainty levels. Conceptually, uncertainty levels and environmental dynamism are related to investors' risk judgement and decision-making.
Design/methodology/approach
Peer-reviewed journal articles published from 2007 to 2022 were assembled and arranged through the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. The initial search produced 2,028 results from the Web of Science and Scopus databases, which were rigorously purified for a final dataset of 70 articles. These records were subsequently assessed through content analysis, bibliographic modelling, topic modelling and thematic analysis. Recurring themes were visualised using the VOSviewer software.
Findings
The existing literature suggests that economic uncertainty negatively impacts investment volumes, returns and performance. Research has also increased since 2018, with a strong emphasis on the housing sector and developed property markets. Commercial property and emerging markets account for only 10 and 8% of previous research, respectively.
Practical implications
These findings highlight the negative impact of economic uncertainties on property performance and investment volumes, which necessitate careful risk assessment. Given the high susceptibility of emerging and commercial property markets to uncertainty, these markets warrant further research amid ongoing uncertainty concerns across the globe.
Originality/value
Given current unprecedented levels of global uncertainty, the effects of economic uncertainty have received renewed interest. This study synthesised the current understanding of how different property markets respond to increased uncertainty and outlined future research directions to enhance understanding. Themes and relationships were also integrated into a conceptual map summarising the reported effects of economic uncertainty on housing, commercial property, investment and behaviour in the property market.
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The paper aims to present the case study of Arillas, a small beach resort on Corfu, Greece, where the locals have taken their fate into their own hands in the middle of a crisis…
Abstract
Purpose
The paper aims to present the case study of Arillas, a small beach resort on Corfu, Greece, where the locals have taken their fate into their own hands in the middle of a crisis. It presents the historical background of the development of tourism in Arillas, the actions that have been undertaken by the local stakeholders to actively participate in the management of the village and to attract alternative, responsible and sustainable forms of tourism to Arillas, and the main players contributing to this process, as well as a look at three important themes contributing to the change.
Design/methodology/approach
The paper is based on an empirical study spanning many years by a local inhabitant who has an affinity with place management and marketing. It also includes some conclusions of a quantitative, questionnaire-based customer satisfaction survey carried out in 2011 and 2012 among 600 visitors. The analysis of the quantitative data was carried out by the Head of the Corfu Department of the National Tourism Organisation of Greece.
Findings
The paper demonstrates how a shared vision, combined with empowerment and communication among local stakeholders on improving the place, as well as many joint actions carried out on a volunteer basis have, first of all, dramatically increased the level of engagement of the locals in the present and future of Arillas, and second they have attracted and are attracting more individual travellers who are coming for the hospitality, local food and products, music and cultural festivals, walking, yoga and meditation rather than the outdated mass tourism model.
Research limitations/implications
It would be very interesting to perform another quantitative, questionnaire-based survey now to compare the results to those of 2012.
Originality/value
This paper demonstrates that a bottom-up, horizontal approach to placemaking and place marketing can yield substantial results even (or especially) in an adverse economical and social environment.
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Christina G. Chi and Dogan Gursoy
Many hospitality programs have developed their own career and placement services to assist students in job searching efforts. The purpose of this paper is to identify factors that…
Abstract
Purpose
Many hospitality programs have developed their own career and placement services to assist students in job searching efforts. The purpose of this paper is to identify factors that are important for the success of career and placement services offered by hospitality programs, from the industry's perspectives.
Design/methodology/approach
Data were collected through an online survey from hospitality recruiters and human resources managers. Descriptive statistics were applied for the data analysis.
Findings
Internship requirement was found to be the most important factor for the success of career services, followed by faculty industry experience and quality of student preparation for job/internship interviews. These were followed by reputation of the program and quality of educational curriculum and courses taught.
Originality/value
The important implications drawn in this paper could assist hospitality schools to allocate limited resources to help create excellent career and placement services.
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Christina Diakaki, Evangelos Grigoroudis and Maria Stabouli
The aim of the paper is to propose a method that may assist organisations in the task of selecting appropriate indicators for their environmental performance evaluation procedures.
Abstract
Purpose
The aim of the paper is to propose a method that may assist organisations in the task of selecting appropriate indicators for their environmental performance evaluation procedures.
Design/methodology/approach
The proposed method is based on the principles of risk assessment, a key technique in the protection and management of the environment. When well‐constructed, it may cover all aspects of an organisation's activities, thus providing a sound base for the identification of the most significant indicators to be considered for the environmental performance evaluation.
Findings
The proposed approach starts from an initial set of numerous indicators. Each indicator is identified in order to monitor and assess the progress towards the achievement of a goal that has been set in relation to a particular environmental aspect of the activities of the considered organisation. For each indicator, a related environmental risk is assessed that may then be used to prioritise the indicators, and identify the most significant ones as far as the environmental aspects of the considered organisation are concerned.
Originality/value
Despite the fact that the environmental performance evaluation has been considered to be both significant and useful, the approaches proposed, so far, are very generic and do not provide actual assistance to the organisations that wish to adopt and apply such procedures. The main advantage of the proposed methodology lies exactly at this point. It facilitates the process of environmental performance evaluation providing substantial assistance to one of the most important stages that is to decide which particular indicators will be considered.
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Anna Farmaki, Katerina Antoniou and Prokopis Christou
This study aims to examine the factors shaping the intentions of people to visit a hostile outgroup.
Abstract
Purpose
This study aims to examine the factors shaping the intentions of people to visit a hostile outgroup.
Design/methodology/approach
An exploratory, qualitative research approach was followed. Specifically, 77 semi-structured interviews with citizens of the divided island of Cyprus were conducted.
Findings
This study identifies several categories of visitors and non-visitors, depicted along a continuum, and concludes that there is a multiplicity of factors in the socio-political environment which influence the travel intentions of people.
Originality/value
This study not only imparts insights into the way travel decision-making evolves in politically unstable situations but also serves as a stepping stone towards understanding the conditions under which reconciliation between hostile nations may be encouraged by travel.
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Yao-Chin Wang, Christina Geng-Qing Chi and Eren Erkılıç
While former literature has shown that people have a strong tendency to seek religious support during difficult times, knowledge gaps exist in how the mechanism of religiosity…
Abstract
Purpose
While former literature has shown that people have a strong tendency to seek religious support during difficult times, knowledge gaps exist in how the mechanism of religiosity works to support employees’ mental status and performance. Therefore, based on self-categorization theory, this study aims to examine the effects of employees’ intrinsic and extrinsic religiosity on building their mental toughness and mindfulness and the further formation of employees’ political skills.
Design/methodology/approach
Data was collected from 404 full-time hotel employees working in 34 hotels in Turkey during the coronavirus (COVID-19) pandemic in spring 2020. Structural equation modeling was used to examine the proposed hypotheses.
Findings
Results of this study show that intrinsic religiosity improves employees’ mental toughness, while extrinsic religiosity enhances employee mindfulness. Additionally, both mental toughness and mindfulness help employees to develop political skill.
Research limitations/implications
This study enriches knowledge to workplace religiosity literature and expands the research scope of religion-related research in hospitality and tourism literature. Future studies are recommended to consider religious heterogeneity and longitudinal design.
Practical implications
To foster employee mental well-being, hotel firms should create a religious-friendly workplace and develop religion-friendly policies. Opportunities should be created within hospitality organizations for employees to develop and use their political skills in needed work aspects.
Originality/value
The findings of this study contribute to valuable theoretical and practical implications. To the best of the knowledge, this study is one of the first attempts to study hotel employees’ religiosity during the COVID-19 pandemic.
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The purpose of this paper is to study how several brands like Poulain, Liebig and Guérin have helped to disseminate the French roman national through their chromolithographs at…
Abstract
Purpose
The purpose of this paper is to study how several brands like Poulain, Liebig and Guérin have helped to disseminate the French roman national through their chromolithographs at the beginning of the 20th century. By doing so, the paper highlights the participation of brands in the co-construction of the French roman national, a historical narrative that articulates state-supported collective memories.
Design/methodology/approach
A total of 1,106 historical trade cards have been collected and analyzed. Historical studies of the roman national have been used as secondary sources to aid in the interpretation of the motifs conveyed in those chromolithographs.
Findings
Chromolithographic images produced by various brands at the beginning of the 20th century contributed to the roman national. They provide an ethnocentric, patriotic and linear view of history but are also crossed by political fault lines, opposing secular and Catholic visions of history.
Originality/value
The chromolithographs produced and disseminated by companies have so far only been analyzed as promotional tools, aimed at popularizing brands and stores. By studying roman national motifs, this paper helps us understand what role businesses have played in building other narratives and forging a national spirit.