The sudden evaporation of Alfred Marshall's enormous prestige is a phenomenon that deserves more attention than it has received. During his lifetime, his pre‐eminence was greater…
Abstract
The sudden evaporation of Alfred Marshall's enormous prestige is a phenomenon that deserves more attention than it has received. During his lifetime, his pre‐eminence was greater than that of any other economist before his time or since. His careful statements were based on a wealth of knowledge and understanding. He was an able mathematician and read widely in history. He studied industry at first hand and had deep social sympathies. His position at Cambridge was a prominent one in a land long known for its able political economists.
The economic value of tourism in developing countries — an issue? Kenya, as other developing countries, develops its tourism, principally to take advantage of its economic…
Abstract
The economic value of tourism in developing countries — an issue? Kenya, as other developing countries, develops its tourism, principally to take advantage of its economic benefits. So far Kenya is convinced about these benefits. More doubts, however, have been raised elsewhere, including certain industrialized donor countries. One objection bases on the opinion that developing countries would obtain only minor returns from tourism. This pre‐occupancy confuses the whole travel package (which includes air‐fare, services rendered in the countries of origin and the margin for foreign tour operators) and services rendered in Kenya. As has been shown in this Ministry even for travel packages Kenya receives some 57 % of net returns (value added) in foreign exchange (F.E.). Hotel services in Kenya alone account for some 85 % of net receipts in F.E. In the particular case of imported wines and liquors it could be proved that one Shilling spent for imports yields eight Shillings in F.E.
Haydeé Calderón García, Irene Gil Saura, Roberto Carmelo Pons García and Martina G. Gallarza
The research steam on tourism destination image, begun in the late 1960s, has been essentially operational in its approach, and only occasionally strategic. Aspects relating to…
Abstract
The research steam on tourism destination image, begun in the late 1960s, has been essentially operational in its approach, and only occasionally strategic. Aspects relating to the image of tourism destinations still constitute a relatively unexplored line of research. This paper, first establishes specific conceptual and methodological approaches, to enable us to rigorously study and evaluate the image of what we understand as a tourism destination characterized by “sun and beach”. It then applies this methodological proposition to a number of destinations in the Caribbean, focusing on the case of Cuba from an important tourist‐origin market for this destination, Spain.
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The purpose of this research is to examine fiscal health of a specific local enterprise operation: seaports. Seaports provide unique local services while spending and borrowing…
Abstract
The purpose of this research is to examine fiscal health of a specific local enterprise operation: seaports. Seaports provide unique local services while spending and borrowing billions of dollars. Decision makers should be aware of the fiscal health of these enterprises in part to assess the potential risks to the fiscal health of the government at large or public authority. Using eight stock and flow fiscal indicators appropriate for enterprise activities, this research examines eight seaports to compare fiscal health by geographic location and governing structure as well as the connection between long-term and short-term fiscal measures. Descriptive measures suggest that western and public authority ports exhibit better fiscal health than southern and departmental ports with some evidence showing a modest link between long-term and short-term fiscal health.
Md. Kamrul Hasan, Shamsul Kamariah Abdullah, Tek Yew Lew and MD. Faridul Islam
The purpose of this paper is to investigate and develop an integrated theoretical relationship by including destination image and attitudes into the…
Abstract
Purpose
The purpose of this paper is to investigate and develop an integrated theoretical relationship by including destination image and attitudes into the quality-value-satisfaction-loyalty paradigm in the context of beach tourism.
Design/methodology/approach
A personal-administered survey was conducted using a convenient sampling technique to collect data from 601 tourists who had visited popular beach destinations in Bangladesh. Then, the structural relationships between the factors likely to affect tourist attitudes and loyalty were examined.
Findings
The findings reveal that both service quality and perceived values have a direct effect on destination image, tourist attitudes and satisfaction. Additionally, destination image and satisfaction significantly affect tourist attitudes and loyalty.
Research limitations/implications
The direct relationship of perceived service quality and perceived value with tourist loyalty was ignored in the model due to reporting consecutive indirect relationship between them in prior studies.
Practical implications
These findings contribute to the extension of theoretical and managerial knowledge, especially in a beach tourism setting, where little research has been done to investigate the proposed relationships.
Originality/value
The originality of this study lies in providing theoretical and empirical evidence regarding the effect of service quality and perceived value, especially on destination image and tourist attitude to behaviour in the loyalty model, which has been scarcely examined in the prior tourism literature.
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Although there have been many articles and books on street vendors, ambulant and fixed, around the world, and many works written about them in Mexico, little has been done on the…
Abstract
Purpose
Although there have been many articles and books on street vendors, ambulant and fixed, around the world, and many works written about them in Mexico, little has been done on the ubiquitous ambulant beach vendors in tourist centers.
Design/methodology/approach
This paper offers an analysis of the backgrounds, levels of contentment, and aspirations of 25 women beach vendors interviewed in Acapulco in 2010.
Findings
A third of the women beach vendors had fathers who were peasants, and others had grandparents who were. Thus the article shows light on the fate of some of the offspring of a dispossessed peasantry. Far more than half of the women vendors were very content with their self-employment vending wares on the beach, a few because they could set their own hours, and a few because they had no boss. Other’s contentment was linked to the fact that they could help support their children. Part of this help meant keeping them in school. This was true whether the women were married, widowed, or abandoned. Not all were content, however, and this underscores the importance of their income to their households. Most of the women, though not all, had aspirations for more education and better work, whether in the formal or the informal economy.
Social implications
The women can be seen as marginalized because of their current poverty, and many because of past poverty leading to a lack of educational opportunities when they were young. They value education for their children.
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Serafeim Polyzos and Dionissios Minetos
Non‐marketable natural coastal resources such as beaches, sand‐dune systems and cliff sides have an economic value deriving not least from the various services which they provide…
Abstract
Purpose
Non‐marketable natural coastal resources such as beaches, sand‐dune systems and cliff sides have an economic value deriving not least from the various services which they provide as well as the human demand for consuming some of these services. Coastal defence projects designed to protect the coast against erosion and flooding by the sea have often caused irreversible degradation to coastal natural resources. The main aim of this article is to investigate whether the joint use of cost‐benefit analysis and environmental resource valuation techniques can give any insights toward the sustainable use of the coast. Design/methodology/approach – This paper employs cost‐benefit analysis (CBA) in order to assess the justifiability of carrying out coast protection works in a particular location. This paper also uses contingent valuation methodology (CVM) to estimate the economic values of non‐marketable coastal environmental services. In particular, this paper employs willingness to pay (WTP) technique and try to elicit satisfaction values from beach users by conducting an on‐site questionnaire survey. Findings – his paper argues that there are many advantages in approaching shoreline protection project appraisal both from an environmental as well as an economics point of view. However, when conducting a cost‐benefit analysis the monetary value of environment elicited by contingent valuation techniques has very limited use in it self. It can set the financial budget within which likely coast protection options should be considered but it cannot determine which option is more sustainable. What the decision‐maker needs is to give real meaning to this value by translating it into people's specific preferences and behavioural characteristics. The next step should be setting out pragmatic project characteristics to accommodate the above preferences. Practical implications – Knowledge‐based planning and scheduling as well as informed coastal protection decisions is central to achieving sustainability in the coastal zone. Prior to managing a coastal area, the baseline information needed is the economic value of services that the coastal location in question provides. Originality/value – Generally speaking, the economic value of non‐marketable natural coastal resources such as beaches is closely associated with the way in which society perceives the environment. Both use and non‐use values that are placed upon the environment by individuals have an anthropocentric basis. In this respect, it could be argued that these values often reflect multiple coastal zone uses, conflicts of human interests, levels of environmental education, environmental awareness and environmental appreciation.
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Hyeesoo (Sally) Chung, Jong-Yu Paula Hao and Jinyoung Wynn
This paper aims to examine the effect of executive compensation incentives, specifically CEO inside debt holdings, on the choice of industry specialist auditor.
Abstract
Purpose
This paper aims to examine the effect of executive compensation incentives, specifically CEO inside debt holdings, on the choice of industry specialist auditor.
Design/methodology/approach
High inside debt holdings are expected to constrain excessive managerial risk-taking and align the interests of managers and outside debtholders. The authors hypothesize that reduced debtholders’ expropriation concerns will decrease the demand for high audit quality, measured by industry specialization. The authors investigate a sample of US firms from 2006 to 2018 using OLS regression and use CEO relative leverage to proxy for CEO inside debt holdings. The authors conduct an additional two-stage least squares regression analysis to address potential endogeneity issues.
Findings
The paper finds that firms with higher levels of CEO inside debt tend not to appoint an auditor with industry specialization. This result is consistent with the notion that inside debt mitigates agency conflicts between managers and debtholders, reducing the demand for high-quality audits as a monitoring mechanism. The paper also finds that among firms which are excessively leveraged, those with higher levels of CEO inside debt tend to appoint an industry specialist auditor.
Originality/value
The findings contribute to the literature on agency cost and auditor choice by demonstrating that CEO inside debt has both substitutive and complementary effects on demand for industry specialist auditors.