Hartmut T. Renz, Ingrid Kalisch, Sandra Pfister, Stuart Axford and George M. Williams, Jr.
To explain the practices that ESMA (European Securities and Markets Authority) recommends for investment firms and national competent authorities to implement when it comes to…
Abstract
Purpose
To explain the practices that ESMA (European Securities and Markets Authority) recommends for investment firms and national competent authorities to implement when it comes to structured retail products (SRPs), in order to ensure sound product governance arrangements and the consistency of supervisory practices needed for adequate investor protection across the European Union.
Design/methodology/approach
Lists the ESMA guidelines for the general organization of product governance arrangements, breaks down the aspects manufacturers should consider in the making of their SRPs, highlights the need to understand the target market, explains the appropriate structure of the distributor’s and manufacturer’s distribution strategy, details how manufacturers establish a SRP’s value, recommends how investment firms deal with SRPs on the secondary market, and explains how manufacturers review the performance of their SRPs.
Findings
The competent authorities are still focusing on improving and enforcing investor protection. This ESMA opinion is just one example of how product governance structures and arrangements should be developed and implemented by everyone involved. It will be important to attend carefully to what MiFID 2 (Markets in Financial Instruments Directive 2) product governance requirements bring regarding investor protection in addition to the described ESMA opinion, which is based on MiFID 1.
Originality/value
Practical guidance from experienced finance lawyers.
Details
Keywords
Mike Hartill and Bettina Rulofs
In this chapter, we consider the origins of research on abuse in sport and its current positioning within the wider field of sport science and sport sociology. First, we look at…
Abstract
In this chapter, we consider the origins of research on abuse in sport and its current positioning within the wider field of sport science and sport sociology. First, we look at specific challenges faced by pioneering researchers in this field through a discussion of Celia Brackenridge's early work and the resistance she faced from both the UK sport sector and academia. Second, we consider the manner in which the sport sector responded to the issue of child abuse, and the extent to which ‘safeguarding’ has been integrated into the structural fabric of sport. We then review the current positioning of research on child abuse and safeguarding in the context of wider sports science and sports sociology. We conclude that the topic has frequently been omitted from the thematic canon of social sciences in sport and has only recently been addressed, in a substantive fashion, within basic textbooks of sport sociology. Finally, this chapter highlights the critical potential of sociologically informed research on child maltreatment and abuse in sport.
Details
Keywords
Sathish Raja, Vasanthi Soundararajan and Satyanarayana Parayitam
This research explores the antecedents of tourist satisfaction and revisit intention, especially in light of the post-pandemic environment that pushed tourism to the lowest level…
Abstract
Purpose
This research explores the antecedents of tourist satisfaction and revisit intention, especially in light of the post-pandemic environment that pushed tourism to the lowest level in the present decade. A comprehensive conceptual model based on the brand equity theory (BET) is developed, and interrelationships between brand heritage, community support and benefits, hedonism, culture, tourist satisfaction and revisit intention.
Design/methodology/approach
The data were collected from 670 tourists visiting one of the heritage destinations in southern India (Kanchipuram). After checking the psychometric properties of the survey instrument, the hypotheses were tested using path analysis and Hayes's PROCESS macros.
Findings
The results indicate that heritage brand of destination sites is positively associated with (1) tourist satisfaction and (2) tourist revisit intention. The findings also support the positive effect of attractiveness of products is positively related to tourist satisfaction, which in turn, is a significant predictor of tourist revisit intention. The findings also support that community support benefits moderating the relationship between heritage brand and attractiveness of products in heritage destinations tourist satisfaction.
Practical implications
This study has several implications for practicing managers engaged in maintaining heritage destinations. As this research highlights the importance of heritage brands of destinations in influencing tourist satisfaction, local communities and policymakers need to provide the necessary infrastructure and facilities at these destinations. Further, local entrepreneurs are motivated to invest in delivering products that attract tourists.
Originality/value
The conceptual model developed in this study, is first of its kind, to the best of the authors’ knowledge, that investigates the effect of hedonism (second moderator) moderating the relationship between tourist satisfaction and culture (first moderator) in influencing tourists to revisit their intention. In addition to direct relationships, the moderating role of community support and benefits, culture and hedonism makes a unique contribution to the bourgeoning literature on tourism especially in Indian context.