The authors trace the inside story of a ground‐breaking transaction which they pioneered. It enabled Barclays Bank to shed all the credit risk it held as the result of originating…
Abstract
The authors trace the inside story of a ground‐breaking transaction which they pioneered. It enabled Barclays Bank to shed all the credit risk it held as the result of originating unsecured consumer loans in a particular branded portfolio. As such the transaction allowed Barclays to separate the business of origination from the business of managing the balance‐sheet. This achievement has far‐reaching consequences for the world of asset and liability management which the authors outline and discuss.
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Hansruedi Müller and Fabian Weber
The purpose of this paper is to evaluate possible impacts of climate change on tourism on a regional level and therefore to provide a basis for discussion for tourism destinations.
Abstract
Purpose
The purpose of this paper is to evaluate possible impacts of climate change on tourism on a regional level and therefore to provide a basis for discussion for tourism destinations.
Design/methodology/approach
By means of a statistical analysis of data and a comprehensive desk research, the ecological consequences of climate change on regional level were outlined. In expert workshops, the effects on tourism were discussed and the main challenges for tourism enterprises and destinations were derived.
Findings
The ecological consequences of climate change are shown for the different destinations in the Bernese Oberland. The economic effects on tourism under changed conditions are estimated. The changes in tourism revenue, including adaptation measures, would result in annual losses of approximately 70 million CHF, or about −4 per cent.
Research limitations/implications
There are many uncertainties regarding climatic development, effects on tourism and adaptability of the industry. In addition, the impacts depend heavily on local conditions and the structure of tourism.
Practical implications
The paper provides a useful basis for discussion for alpine tourist destinations planning to set climate change and its consequences on the agenda and develop strategies to face these new challenges.
Originality/value
This paper presents an analysis of ecological consequences of climate change and possible implications on tourism on a regional level and points out the challenges as well as possible mitigation and adaptation strategies.
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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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Youngjin Bahng and Doris H. Kincade
The influence of weather on business activities and human behaviour has been explored in several fields (e.g. finance and psychology), but little research about weather and retail…
Abstract
Purpose
The influence of weather on business activities and human behaviour has been explored in several fields (e.g. finance and psychology), but little research about weather and retail sales is found in the retail or fashion literature. The purpose of the study is to analyse the relationship between temperature, one aspect of weather, and retail sales of seasonal garments.
Design/methodology/approach
The researchers collected sales data from a retailer of branded women's business wear in the Seoul‐Kyunggi area in South Korea. Along with the sales data for seasonal basic styles, corresponding daily and weekly average temperature data were collected and evaluated. The analysis for the study was drawn using descriptive statistics including graphical evaluations, correlation analysis and paired samples t‐test. Interviews with the retailer's merchandisers were used to supplement interpretation of the statistical data.
Findings
Results of this study provide strong evidence that fluctuations in temperature can impact sales of seasonal garments. During sales periods when drastic temperature changes occurred, more seasonal garments were sold. However, the temperature changes from day to day or week to week did not affect the number of garments sold for the whole season. Of the seasonal garments expected to sell within the same season, the selling periods of each product category differed depending on type of fabric and design. For some seasonal garments, the actual sales dates were one week to two weeks in variance from the merchandisers' forecasts.
Research limitations/implications
Limitations in the sample (i.e. product category) and location of stores (i.e. geographic region) prevent the generalization of results to all seasonal garments or retailers. In spite of these limitations, this study can be a pilot study that supports the significant relationship between temperature and sales of seasonal basic products by quantifying the temperature effects on sales of particular products. Therefore, future studies are needed to establish generalized conclusions with a larger sample.
Originality/value
As little academic research is available about weather's effect on sales of garments, the present study contributes to the field of clothing and retail distribution by providing evidence of significant relationships between temperature and sales of seasonal clothing.
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This essay explores evolutionary and competence‐based theories of the firm. Evolutionary theories can be regarded as a subset of a wider class of theories, variously described as…
Abstract
This essay explores evolutionary and competence‐based theories of the firm. Evolutionary theories can be regarded as a subset of a wider class of theories, variously described as “capabilities”, “resource‐based”, or “competence‐based” theories of the firm. These contrast with a different set of contractarian theories, emanating largely from the work of Coase. It is argued that the contractarian theories of the firm misleadingly assume given individuals thus neglecting processes of individual learning and transformation. Similarly underestimated is importance of technology and the persistence of variety in firm structure and performance. The genesis of the alternative, competence‐based approach is outlined, including the important subset of “evolutionary” approaches of the Nelson‐Winter type. The paper concludes with a discussion of the relevance of the competence‐based approach to strategic management.
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Álvaro José Back and Luana Pasini Miguel
The purpose of this paper is to evaluate the seasonal and spatial variations in the statistical descriptors of the Markov chain model as well as the expected values of the length…
Abstract
Purpose
The purpose of this paper is to evaluate the seasonal and spatial variations in the statistical descriptors of the Markov chain model as well as the expected values of the length of dry and wet days and to estimate the probability of dry and rainy sequences in the state of Santa Catarina.
Design/methodology/approach
Daily rainfall data from 1970 to 2013 of five rainfall stations in the state of Santa Catarina were used. To model the sequence of dry and wet days, the first order of the Markov chain was used. The statistical descriptors of the Markov model were evaluated, as well as the expected values of the length of dry and wet days and the number of dry and rainy days for each month. Along with geometric distribution, the probability of occurrence of sequences of dry and rainy days was determined. The adherence of the data to geometric distribution was evaluated using the Kolmogorov-Smirnov test.
Findings
The results showed that there is a seasonal and spatial variation in Markov model descriptors and also in the duration of the dry and rainy periods. These variations may be related to the mechanisms responsible for the formation and distribution of rainfall in the state, such as the air masses and relief. The Lages station, located in the Plateau of Santa Catarina, had the highest P00 values, reflecting more stable conditions of the atmosphere. In autumn and winter, no marked differences were found between the coastal stations and west of the state. The geometric distribution was adequate for estimating the probability of dry and rainy days.
Originality/value
Although some work has already been carried out on the modeling of the Markov chain in the state of Santa Catarina, this study was found to be more complete with the use of various statistical descriptors of the model and its application in estimating the duration of the cycles of dry and wet periods and the number of rainy days in the period.
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Andreas Christoph Weber, Veerle De Bosscher, Simon Shibli and Hippolyt Kempf
This paper aims to propose the concept of market potential analysis, which is commonly applied in economics, as a method to enable these investment decisions to be based on sound…
Abstract
Purpose
This paper aims to propose the concept of market potential analysis, which is commonly applied in economics, as a method to enable these investment decisions to be based on sound evidence.
Design/methodology/approach
The markets for Olympic awards, i.e. medals (top three places) and diplomas (i.e. top eight places) are compared in alpine skiing, biathlon, cross country, speed skating, freestyle skiing, short track and snowboarding from 1992 to 2018.
Findings
The most notable changes are identified in cross country (2002), biathlon (2006), freestyle skiing (2014), snowboarding (2006 and 2014) and speed skating (2018).
Originality/value
In spite of the evidence of nations investing strategically in their elite sport systems to produce Olympic success, there is a lack of knowledge on how national-level decision makers can use a strategy to analyse the competitive environment concerning sports contested in the Olympic Winter Games.
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Library Workstation and PC Report, founded in 1984 as M300 and PC Report, was the brainchild of Allan Pratt, then at the University of Arizona. Pratt, the founding editor of Small…
Abstract
Library Workstation and PC Report, founded in 1984 as M300 and PC Report, was the brainchild of Allan Pratt, then at the University of Arizona. Pratt, the founding editor of Small Computers in Libraries, had a hunch that OCLC's introduction of the M300 workstation was going to call for much hand‐holding and specialist advice and information for librarians. He was right. M300 and PC Report had a subscribership well before the first issue was mailed to readers. And it remains a growing publication to this day.
A case which because of its far‐reaching implications attracted considerable interest (see report on p. 91) was recently heard at Highgate. It was alleged that ice lollies were…
Abstract
A case which because of its far‐reaching implications attracted considerable interest (see report on p. 91) was recently heard at Highgate. It was alleged that ice lollies were “unfit for human consumption” because of the temperature at which they were sold. Because the lollies were too cold, one stuck to a boy's lips and chin and another to a boy's tongue, peeling off skin when they were removed. The prosecution's case was that on the evidence, the vendors should be convicted of selling food unfit for human consumption, but the magistrates did not accept this contention and dismissed the case. The mishap was an unfortunate one, and Counsel's submissions for the defence notwith‐standing, it is difficult to see how the case could have been decided otherwise. There was never any suggestion of inferior ingredients being used in the manufacture of the lollies.
Damian Hodgson and Svetlana Cicmil
The purpose of this paper is to review the formation and evolution of the “Making Projects Critical” movement in project management research.
Abstract
Purpose
The purpose of this paper is to review the formation and evolution of the “Making Projects Critical” movement in project management research.
Design/methodology/approach
Retrospective and discursive paper.
Findings
Reflections on tensions and challenges faced by the MPC movement.
Originality/value
The paper establishes the historical trajectory of this movement and clarifies the tensions and challenges faced by MPC.