Jeffrey A. Manzi and Richard J. Curcio
Pension theory suggests and empirical tests indicate that optimal funding levels for defined benefit plans are determined on the basis of risk, taxes, and capital availability…
Abstract
Pension theory suggests and empirical tests indicate that optimal funding levels for defined benefit plans are determined on the basis of risk, taxes, and capital availability. This study examines whether federal pension and tax legislation enacted in 1986 and 1987 significantly altered the role of risk, taxes, and capital availability as determinants of corporate pension funding policy. Regression tests relating funding levels to these variables were conducted on a sample of pension plans, separately, for each of the reporting years, 1985 (before enactment of the legislation) and 1989 (after enactment of the legislation). Pension risk and tax exposure variables, significant in explaining funding levels in 1985, were not significant in 1989. Pension risk and tax factors under this new regime play a significantly diminished role, if any, in determining funding level policy for defined benefit plans. Evidence is provided that current pension funding is dependent upon the variability of common equity returns, and thus indicate that the pension funding decision is made in the same context as any other capital allocation decision.
This issue of Managerial Finance brings together five papers that explore the manifold dimensions of pension issues. The papers document and explain the dynamic changes occurring…
Abstract
This issue of Managerial Finance brings together five papers that explore the manifold dimensions of pension issues. The papers document and explain the dynamic changes occurring in the management and functioning of private pension plans within an evolving institutional and regulatory framework. Although the papers predominantly focus on the U.S. pension system, the issues addressed and the attendant implications are relevant to economies in the throes of developing or reforming pension security arrangements for market participants.
Paschalia Patsala, Constantinos-Vasilios Priporas, Maria Michali and Irene Kamenidou
The focus of this chapter lies in exploring the views Greek Higher Education academics delivering marketing modules in state universities hold with regard to how they…
Abstract
The focus of this chapter lies in exploring the views Greek Higher Education academics delivering marketing modules in state universities hold with regard to how they conceptualise ‘creativity’; it also examines whether and how academics incorporate teaching creativity in their curriculum and professional practices. Various concepts and contexts pertaining to creativity in education are introduced, emphasising creativity enhancement through marketing teaching and learning. Although educators recognise the critical role of creativity, the methods to enable the cultivation of students’ creativity remain elusive. In the light of these matters, a qualitative approach has been adopted with online structured interviews, which led to the formation of a thematic map through NVivo; the reflexive thematic analysis applied resulted in five final themes, entailing nine sub-themes, which in turn reveal the core patterns and Greek marketing academics’ perceptions on teaching creativity, along with their instructional practices and the challenges they face in this endeavour.
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Richard Ek and Mekonnen Tesfahuney
In the Western thought tradition, the tourist has not been a subject worthy of intellectual musings and philosophical deliberations. Indeed, the tourist has been portrayed in…
Abstract
In the Western thought tradition, the tourist has not been a subject worthy of intellectual musings and philosophical deliberations. Indeed, the tourist has been portrayed in primarily derisive ways. Nietzsche’s remark, “Tourists—they climb mountains like animals, stupid and perspiring, no one has told them that there are beautiful views on the way,” epitomizes the dominant attitude. Why does the figure of the tourist elicit such negative reactions? Do the sentiments perhaps imply something else, or is the tourist a doppelgänger, not anomalous or marginal but normative—a paradigmatic figure? If so, then what can be said of the poetics and politics of the tourist conceptualized as a paradigmatic subject?
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Blanca A. Camargo, Tazim Jamal and Erica Wilson
Pressing sustainability issues face the 21st century, as identified by the Millennium Development Goals and its post initiatives, and ethical principles related to fairness…
Abstract
Pressing sustainability issues face the 21st century, as identified by the Millennium Development Goals and its post initiatives, and ethical principles related to fairness, equity, and justice are increasingly important to address climate change and resource scarcities. Yet, such ethical dimensions remain surprisingly little addressed in the tourism literature. Ecofeminist critique offers insights into this gap, identifying historical antecedents in patriarchal, Enlightenment-driven discourses of science where positivistic approaches facilitate the control and use of nature and women. This chapter draws from this critique to propose a preliminary, justice-oriented framework to resituate sustainable tourism within an embodied paradigm that covers intangibles such as emotions, feelings, and an ethic of care.
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To explore the way in which responses to urban disorder have become part of the anti-social behaviour (ASB herein) toolkit following the 2011 disorders in England. In particular…
Abstract
Purpose
To explore the way in which responses to urban disorder have become part of the anti-social behaviour (ASB herein) toolkit following the 2011 disorders in England. In particular, the purpose of this paper is to unpack the government’s response to the riots through the use of eviction. It is argued that the boundaries of what constitutes ASB, and the geographical scope of the new powers, are being expanded resulting in a more pronounced unevenness of behaviour-control mechanisms being deployed across the housing tenures.
Design/methodology/approach
Using a qualitative research design, 30 in-depth interviews were undertaken with housing, ASB, and local police officers alongside a number of other practitioners working in related fields. These practitioners were based in communities across east London, the West Midlands and Greater Manchester. This was augmented with a desk-based analysis of key responses and reports from significant official bodies, third sector and housing organisations.
Findings
Findings from the research show that responses to the 2011 riots through housing and ASB-related mechanisms were disproportionate, resulting in a rarely occurring phenomenon being unnecessarily overinflated. This paper demonstrates, through the lens of the 2011 riots specifically, how the definition of ASB continues to be expanded, rather than concentrated, causing noticeable conflicts within governmental approaches to ASB post-2011.
Research limitations/implications
This research was undertaken as part of a PhD study and therefore constrained by financial and time implications. Another limitation is that the “riot-clause” being considered here has not yet been adopted in practice. Despite an element of supposition, understanding how the relevant authorities may use this power in the future is important nonetheless.
Originality/value
Much effort was expended by scholars to analyse the causes of the 2011 riots in an attempt to understand why people rioted and what this says about today’s society more broadly. Yet very little attention has been focused on particular legislative responses, such as the additional riot clause enacted through the Anti-Social Behaviour, Crime and Policing Act 2014. This paper focuses on this particular response to explore more recent ways in which people face being criminalised through an expansion of behaviour defined as ASB.
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Adam D Galinsky, Kurt Hugenberg, Carla Groom and Galen V Bodenhausen
We present a model of reappropriation, the phenomenon whereby a stigmatized group revalues an externally imposed negative label by self-consciously referring to itself in terms of…
Abstract
We present a model of reappropriation, the phenomenon whereby a stigmatized group revalues an externally imposed negative label by self-consciously referring to itself in terms of that label. The model specifies the causes and consequences of reappropriation as well as the essential conditions necessary for reappropriation to be effective. To place the concept of reappropriation in proper context, we begin by discussing the roots of stigma and the mediating role played by social categorization and social identity in the realization of stigma’s deleterious effects. We also discuss the strategies available to both individuals and groups by which stigmatized individuals can enhance their devalued social identities. We provide a discussion of two historical cases of reappropriation and some preliminary empirical evidence concerning the consequences of self-labeling and attempting to reappropriate a stigmatizing label. Finally we discuss the implications of the model for groups and teams, both within and outside of organizations.
This chapter explores the potential for and value of imagining a humanist paradigm for tourism studies. It explores how the idea of a “paradigm” in tourism can be conceptualized…
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This chapter explores the potential for and value of imagining a humanist paradigm for tourism studies. It explores how the idea of a “paradigm” in tourism can be conceptualized, arguing that dominant thoughtlines in other fields regarding the meaning of a paradigm are not sufficient for making sense of this idea in the context of tourism studies. The chapter introduces humanism as a philosophical position in the academy and as a lived cultural practice, explores examples of extant work in tourism studies that might be seen to provide the seeds of a humanist paradigm, and offers reflections on the value of imagining such a paradigm for our field.
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The purpose of this chapter is to propose a theory which may lead to a holistic description of the mechanism of touristic phenomena. In so doing, the central discussion is to…
Abstract
The purpose of this chapter is to propose a theory which may lead to a holistic description of the mechanism of touristic phenomena. In so doing, the central discussion is to provide descriptive answers to basic questions. It will not be a sociological or anthropological discourse. Instead, it will use perspectives from environmental psychology, genetics, and a theory of information energy in elementary particle physics. The study of tourism, though it is not a distinct disciplinary field, must provide a grand theory. In this chapter, the discussions mainly focus on the concept of tourist to provide several ideas to amend its definition, which may directly correspond to an overall view of touristic phenomena.