bluuebunny/crossref_metadata_2025 huggingface dataset:
Investing in Emerging Equity Markets: The Case of Chinese ADRs versus B Shares
Authors: Ursel Nancy , Lin Xiaohua , Li Jessica
Published: June 2011

Chinese companies have recently started listing ADRs in North American stock exchanges and thus offered an alternative venue for Western investors whose access to the Chinese market has largely been limited to the illiquid B shares. Are ADRs a good substitute for investing in Chinese B Shares? We examine characteristics of return distributions for indices of Chinese shares and an index of Chinese ADRs. We also compare efficient frontiers for portfolios including Chinese shares and Chinese ADRs and compute possible portfolio allocations. We find that investing in Chinese ADRs does not provide a risk/return tradeoff similar to direct investment in Chinese stock exchanges.
A Comparative Study of Foreign Direct Investment Activities in Georgia and Kyrgyz Republic
Authors: Kaynak Erdener , Yalcin Serkan , Tatoglu Ekrem
Published: June 2011

This paper attempts to fill the knowledge gap in the area of foreign direct investment (FDI) research in the regions of Caucasus and Central Asia. Various dimensions of FDI were analyzed from a comparative perspective drawing on a number of selected case studies of inward investors in Georgia and Kyrgyz Republic. The results indicated that the FDI activity in Georgia and Kyrgyz Republic was a market‐seeking type focusing heavily on location‐specific attractions of the two countries. Although the issue of corruption affects foreign investors, it does not act as a major deterrent of FDI infl ows. The most serious problem influencing the performance of FDI firms was found to be inefficiency of local labor force, excessive bureaucracy and red tape, and differences inherent in the business practices of host countries. In general, however, it was found that foreign investors have been satisfied with their performance largely due to the relatively smooth competition and the availability of several market niches in both host country markets.
The Effects of Agency Problems on the Stability of the International Joint Venture
Authors: Young Baek H. , Min Soonhong , Ryu Sungmin
Published: June 2011

We introduce agency and team production theories to explain the international joint venture (IJV) phenomenon. We regard IJV partners as participants in a team production and identified agency conflicts among partners as well as between parents and IJV affi liates. We empirically test the stability of IJVs with such determinants as the existence of monitoring principal, the history of repeated exchanges between partners, the efficiency of mutual monitoring by partners, the effi ciency of affiliate monitoring by parent firms, and the degree of international experience of the partners. The test results show that the existence of monitoring principal and the degree of international experience prove to be significant factors for IJV stability.
Stock Ownership Structure and Voluntary Disclosure of Quarterly Foreign Sales Data of U.S. Multinational Corporations
Authors: Hossain Mahmud , Marks Barry R. , Mitra Santanu
Published: June 2011

The ownership structure of a corporation can alleviate the agency problem that arises between shareholders and managers of a corporation, which implies that the ownership composition of a firm may infl uence the level of voluntary disclosure. This study investigates whether the ownership structure of U. S. based multinational corporations affects the managerial decision to voluntarily disclose quarterly foreign segment data. The empirical results show that the three ownership variables of interest, institutional stock ownership, managerial stock ownership and outside blockholder stock ownership are inversely related to the level of voluntary disclosure of quarterly foreign segment data. Therefore, it is inferred that an increase in the proportion of outstanding common stock held by these ownership groups is accompanied by a decrease in the probability that a U.S. multinational firm voluntarily discloses quarterly foreign segment data.
International Channels of Distribution: A Classification System for Analyzing Research Studies
Authors: Ensign Prescott C.
Published: June 2011

This paper presents a systematic method for classifying research on international channels of distribution. It is used to examine 79 articles published during an 18‐year period (1988‐2005). Based on content analysis, each article is classified by its primary research framework. Two frameworks are identified: (1) structural ‐ based on the economic and organizational aspects of international channels of distribution; and (2)
behavioral ‐ based on the exchange relationship between channel members from different national environments. This simple organizing system offers a comprehensive way to analyze scholarship that has emerged in the field. For managers, it can bring the theoretical and practical developments together in an understandable fashion as they seek to interpret and apply research findings. For scholars, it may bring focus to an increasingly complex area of international business and guide future research efforts.
Health and medical tourism: a kill or cure for global public health?
Authors: Hall C. Michael
Published: June 2011

Purpose

The major purpose of this introduction to the special issue of Tourism Review on health and medical tourism is to outline some of main issues that exist in the academic literature in this rapidly developing field.

Design/methodology/approach

The paper reviews relevant health and medical tourism and cognate literature.

Findings

The paper identifies some of the interrelationships between different areas of health and medical tourism, including wellness and wellbeing tourism, dental tourism, stem‐cell tourism, transplant tourism, abortion tourism, and xeno‐tourism. Key to defining these areas are the relationships to concepts of wellness and illness and the extent to which regulation encourages individuals to engage in cross‐border purchase of health services and products. Key themes that emerge in the literature include regulation, ethics, the potential individual and public health risks associated with medical tourism, and the relative lack of information on the extent of medical tourism.

Social implications

The development of international medical tourism is demonstrated to have potentially significant implications for global public health.

Originality/value

The paper covers an extensive range of academic literature on international medical tourism which indicates the different approaches and emphases of research in different disciplines as well as the ideological and philosophical differences that exist with respect to health medical tourism. The paper also notes that some of the individual and public health risks of medical tourism are not usually incorporated into assessments of its potential economic benefits.
Wellness tourists: in search of transformation
Authors: Voigt Cornelia , Brown Graham , Howat Gary
Published: June 2011

Purpose

The purpose of this paper is to explore and compare the benefits sought by three different types of wellness tourists: beauty spa, lifestyle resort, and spiritual retreat visitors.

Design/methodology/approach

Based on the findings from 27 semi‐structured interviews with wellness tourists a benefits of wellness tourism scale (BWTS) was developed. It was used to measure 46 benefit items and was mailed to people included on the client/member lists of three Australian wellness tourism organisations.

Findings

In total, six benefit factors emerged from a principal axis factor analysis: transcendence; physical health and appearance; escape and relaxation; important others and novelty; re‐establish self‐esteem; and indulgence. A one‐way MANOVA, followed by a series of ANOVAS, revealed significant differences between the three types of tourists regarding the importance attributed to each of the six benefit factors. While all participants in the study sought transformation of the self, each identifiable group of tourists placed different emphasis on physical, psychological or spiritual transformations. Moreover, each group differed significantly in terms of demographic and travel behaviour characteristics.

Originality/value

The relevance of this paper lies in its adoption of a comprehensive approach to the investigation of the potential differences between three wellness tourist groups regarding the socio‐demographic profile, travel behaviour, and the benefits sought. Previous studies have focused on a single particular wellness tourist group. Furthermore, the BWTS may be applicable for use in future comparative studies of wellness tourist motivation.
The discourse of medical tourism in the media
Authors: Mainil Tomas , Platenkamp Vincent , Meulemans Herman
Published: June 2011

Purpose

Non‐discursive practices such as the economy and political constellations have always caused shifts in history. However, in the network society of today, these shifts have become omnipresent. Globalization of health and medical tourism have created a shift or rupture in the history of healthcare provision and into the lives of different stakeholders. The purpose of this paper is to detect and assess the rupture caused by global health care or medical tourism within the field of the written media, in order to define the reality of medical tourism as a trans‐historical field.

Design/methodology/approach

The methodology of this study comprised an extensive discourse analysis of written and new media performed over a time frame of more than a decade. Market, medical, ethical and patient discourses were detected along scientific sources, international and local newspapers.

Findings

Results indicate that a change in the market discourse has caused a shift in the attitude towards medical tourism, where ethical voices are seen as submissive to the market logic. In the current time perspective, medical tourism has become more mature with the development of non‐ethical counterparts such as organ tourism and reproductive tourism as a consequence.

Originality/value

The research framework shows that the general public receives a normative message from the medical tourism sector.
Systematic review of web sites for prospective medical tourists
Authors: Lunt Neil , Carrera Percivil
Published: June 2011

Purpose

A key driver in the medical tourism phenomenon is the platform provided by the internet for gaining access to healthcare information and advertising. Given the pivotal role of web‐based resources, there are important questions about their role and function including: the availability and types of information provided; information provenance and reliability; and privacy protection. This paper aims to address these questions.

Design/methodology/approach

The paper provides the first systematic review of medical tourism sites, interrogating them for the range and quality of advice on seeking care.

Findings

A typology of sites (industry, media, professional, and consumer sites) was identified and quantitative and qualitative assessment tools were used to explore the content of information and materials.

Originality/value

In light of this review, the paper comments on the nature of medical tourism information available and the extent to which information asymmetry – rife in the market for healthcare – is alleviated allowing for the better functioning of the market for medical tourism.
MEDTOUR: a scale for measuring medical tourism intentions
Authors: Martin David S. , Ramamonjiarivelo Zo , Martin Warren S.
Published: June 2011

Purpose

The purpose of this paper is to use a theoretical model to create a scale to predict medical tourism (MT) intentions.

Design/methodology/approach

The theory of planned behavior (TPB) model was applied to MT by creating a 49‐item questionnaire and collecting data from a convenience sample of 453 undergraduate students enrolled in a university located in the USA. Factor analysis was used to evaluate the results, and yielded a MEDTOUR scale containing 29 items.

Findings

A regression of the three variables on an intentions scale of participation in MT had an R‐value of 0.587. The model was able to explain around 35 percent of the variance in intentions. Given the general nature of the model and the first attempt at predicting MT, the results are positive.

Research limitations/implications

This research is limited due to the use of a convenience sample of undergraduate students. Further research utilizing additional samples is needed to verify the MEDTOUR scale. In addition, future research can focus on demographic or other areas of interest in relation to the intention to participate in MT.

Originality/value

The creation of the MEDTOUR scale represents a new application of the TPB to the area of MT. This theory‐based scale is offered as a new tool for future research.
Branding new services in health tourism
Authors: Boga Tanja C. , Weiermair Klaus
Published: June 2011

Purpose

The purpose of this paper is to serve as an introduction to the usefulness of means‐end chain (MEC) theory and analysis for branding in health tourism.

Design/methodology/approach

An online survey was conducted within the transnational EU‐project Alpshealthcomp and with two of the largest public health insurances in Germany. Research design is based on hard laddering according to Walker and Olson. MEC items were derived from Rokeach and from Hiesel and from results of a consumer survey (n=1.607) for Alpine health and wellness tourism.

Findings

Several research questions are proposed regarding consumer association structures for health tourism using principal component analysis, cluster analysis and t‐test contrast of hypothesis. Personal values have proven to be most valuable for establishing brand associations. Here an identifiable and describable common structure exists for Alpine health tourism. With increasing product experience, consumers concentrate on viewer values closely linked to their personality. If product experience is low, consumers depend on a multitude of values.

Research limitations/implications

The proportion of female participants in the sample is very high. A more balanced sample and analysis for gender differences could be valuable. Also it should be tried to replicate findings for other types of intangible services.

Practical implications

The identified value structure can be addressed in brand communication and could complement the concept of brand personality. When shifting emphasis in staging and communicating values according to product experience, tourism managers can establish a stable and strong brand. Behavioral branding can be a useful tool in this context.

Originality/value

Branding started to expand into the tourism industry only recently. Specific research work on branding in health tourism is scarce. To the best of the authors' knowledge, there exists no article in which MEC analysis was applied in order to analyze possible carrier of brand associations in health tourism. This work aims to bridge the gap.
Sustainable medical tourism in Costa Rica
Authors: Bristow Robert S. , Yang Wen‐Tsann , Lu Mei‐Tsen
Published: June 2011

Purpose

The purpose of this paper is to ascertain the relative importance of sustainable tourism practices to medical tourists. Sustainable management practices have become the accepted and appropriate model for tourism. Medical tourists, those who visit a foreign country for a medical procedure unavailable at home due to high costs, timeliness or local laws and customs, are asked how important a set of sustainable management practices are in their experiences. Selected for this study are the Global Sustainable Tourism Criteria (GSTC). These criteria have been designed to be the minimum practices to ensure sustainability for the business as well as protect the natural and cultural resources.

Design/methodology/approach

An online survey was employed to gather the travel patterns, motivations and socio‐demographics of medical tourists and to test their ranking of the GSTC on a five‐point Likert scale.

Findings

Medical tourists who travelled to Costa Rica, a recognized ecotourism destination, are more likely to support some of the sustainable criteria designed to maximize social and economic benefits to the local community and minimize negative impacts, than those who travelled elsewhere.

Research limitations/implications

While the sample size is modest, this is an exploratory assessment by medical tourists of sustainable management practices.

Practical implications

Research into sustainable medical tourism practices is timely given that hospitals are not traditionally in the tourism business, but are now rapidly seeking to provide this service to their foreign patients.

Originality/value

The paper presents what is believed to be the first investigation into medical tourists' preferences in sustainable tourism practices.
Medical tourism: emerging biosecurity and nosocomial issues
Authors: Hall C. Michael , James Michael
Published: June 2011

Purpose

The major purpose of this research note is to explore some of the potential biosecurity and nosocomial risks associated with international medical tourism.

Design/methodology/approach

The note reviews relevant medical tourism and cognate literature.

Findings

The note finds that there are substantial risks associated with nosocomial infections and complications as a result of international tourism. Although these are clearly significant at an individual level they also represent significant biosecurity risks to the home country of medical tourists and particularly to medical facilities which they may visit if they have an infection. Medical tourists are therefore identified by the medical community as posing significant risks for the spread of pandemics, as well as further contributing to increased antibiotic resistance. Further systematic research is required to assess risk management strategies including the appropriateness of international and national regulations which currently shows considerable variability.

Social implications

The development of international medical tourism is demonstrated to have potentially significant negative implications for global public health.

Originality/value

The relevance of the paper lies in its identification of considerable risks associated with international medical tourism which may have considerable economic and personal costs associated with them. Such risks are not usually incorporated into assessments of the economic benefits of medical tourism.
Domestic vs outbound booking and channel choice behavior: evidence from New Zealand
Authors: Pearce Douglas G. , Schott Christian
Published: June 2011

Purpose

This paper seeks to analyze the extent to which New Zealand domestic and outbound travelers' book components of their trip in advance or at their destination and to explore the factors that influence this. Furthermore, the paper compares the distribution channels used by domestic and outbound travelers to purchase different travel products and to examine why these channels have been selected.

Design/methodology/approach

The study involves the collection and analysis of data on the profiles, trip characteristics and distribution behavior of domestic and outbound travelers based on a nationwide telephone survey of 1,000 respondents.

Findings

Little variation was found in the profile characteristics of domestic and outbound travelers but significant differences occurred in terms of the trip characteristics, the extent of booking in advance and at the destination, reasons why advance bookings were not made, how bookings were made and the channels used all exhibited significant differences according to domestic or outbound travel. This pattern was less consistent with regards to the factors influencing how the bookings were made and the factors affecting channel choice.

Research and practical implications

The findings illustrate the complexity of travel decision‐making issues, underline the need to take account of differences between domestic and outbound travel and across trip components, and to examine the factors that underlie distribution related behavior.

Originality/value

The value and originality of this paper lie in the systematic comparison of the booking and channel choice behavior of domestic and outbound travelers, the search for factors influencing this behavior and a sectoral approach that differentiates transport to and at the destination.
A new perspective on tourist information search: discussion in couples as the context
Authors: Bronner Fred , de Hoog Robert
Published: June 2011

Purpose

Information‐search for vacation decision‐making can occur in two different contexts: an individual one, in which one forms one's preferences, and a social one in response to discussions with partners and family members. This paper focuses on the latter.

Design/methodology/approach

By means of a longitudinal study the research investigates the main topics of discussion in couples, and the information sources couples use in their discussion. Furthermore, the research investigates whether the information sources used depend on the nature of the sub‐decision – search‐determined or experience‐determined – the couples discuss.

Findings

The research finds that there is considerable discussion between partners and that the amount of discussion varies in relation to the type of sub‐decision. During these discussions, the use of different information sources is widespread. More generally, the study confirms the overall importance of the social context: information sources used in the social context are different from sources used in the individual context. The research does not confirm the expected relationship between the nature of a sub‐decision and the type of information source used. As the decision process proceeds over time, the role of objective information sources increases in discussions.

Research limitation/implications

Compared with the classical individual approach to researching tourist information search, the social context of information‐searching needs other market research data, to provide insight into the topics of discussion. Tourism marketing messages in a social decision context should be directed to significant others, as these messages are likely to be used as important information sources during the joint vacation decision process in couples. In this respect, the use of electronic word‐of‐mouth offers new opportunities for vacation marketing.

Originality/value

A new perspective on information search: the relevance of social contexts.
Marital power bases as predictors of spousal influence strategies in a vacation purchase decision
Authors: Bokek‐Cohen Ya'arit
Published: June 2011

Purpose

This paper aims to uncover the relationships between marital power and influence strategies used during couples' vacation decision processes. Marital power includes two dimensions: the first dimension is objective and composed of actual economic resources; the second is subjective and composed of feelings such as spousal love or self‐esteem.

Design/methodology/approach

192 couples completed a questionnaire that included statements describing different influence strategies utilized during the vacation purchase‐decision process; respondents indicated the frequency with which they employed each strategy.

Findings

Subjective marital power is associated with the use of spousal influence strategies. Objective marital power does not predict the use of these strategies.

Research limitaions/implications

These findings highlight a hitherto understudied aspect of marital power – subjective power.

Practical implications

Consumer researchers and vacation marketers should take into account the subjective marital power balance and its impact on influence strategies during couples' vacation decision processes.

Originality/value

This study shows that during a vacation decision process, the marital power balance between partners impacts on the choice of spousal influence strategies. Secondly, economic power is not the dominant factor that affects the choice of influence strategy; rather, interpersonal power is influential in the use of spousal influence strategies during the vacation decision process.
Expertise, experience and self‐confidence in consumers' travel information search
Authors: Teichmann Karin
Published: June 2011

Purpose

The aim of this paper is to investigate the relationship between consumer self‐confidence, product expertise, and travel experience in the context of travel information search during vacation planning.

Design/methodology/approach

The research design is based on a panel study to monitor trip planning processes of Austrian travelers. A structural model is used to assess to what degree consumer self‐confidence, product expertise, and travel experience affect travel information search and to examine the influence of consumer self‐confidence on product expertise.

Findings

Findings from the study show that consumer self‐confidence significantly affects product expertise. Travel experience, on the other hand, positively influences product expertise that again is positively related to travel information search. No significant relationship is established between travel experience and travel information search.

Research limitations/implications

While most of the previous studies investigated information search using cross‐sectional data, this study addresses the need for more accurate research on information search adopting a panel design. One major limitation of the study is the small sample size. Results from a larger sample might be different in regards to the magnitude of the relationships.

Originality/value

This study contributes to the overall understanding of how knowledge and ability‐related factors impact travel information sourcing. The tourism literature reveals no other study that has simultaneously quantified consumer self‐confidence and product expertise during trip planning.
Tourists' dual‐processing accounts of reasoning, judgment, and actions
Authors: Martin Drew , Woodside Arch G.
Published: June 2011

Purpose

The purpose of this paper is to describe theory building and testing of dual processing of tourist reasoning, judgment, and actions.

Design/methodology/approach

The paper applies micro‐tipping point theory and qualitative comparative analysis, using case study data.

Findings

Maps of the reasoning, judgments, and actions of five parties of tourist buying major services support dual‐processing theory of deciding on destination choices.

Research limitations/implications

This report does not include the attempt to generalize the findings to large survey samples of informants.

Practical implications

Executives need to go beyond recognizing that what tourists report consciously may differ substantially from what they think unconsciously and to plan on collecting data on both dual processing modes of thinking.

Originality/value

This paper breaks new ground in applying dual‐processing theory in tourist behavior of buying major tourist services.
Sources of enterprise success in Amish communities
Authors: Kraybill Donald B. , Nolt Steven M. , Wesner Erik J.
Published: June 2011

Purpose

This research project aims to investigate Amish small businesses in North America to determine their success rate and the factors that explain their vitality. Amish entrepreneurs have developed some 10,000 small businesses despite taboos on motor vehicles, electricity, computers, the internet, and education. A theoretical model consisting of five types of socio‐cultural capital (human, cultural, social, religious, and symbolic) was conceptualized to explain and interpret the success of Amish enterprises. The model includes capital deficits that identify the hurdles that successful enterprises must overcome.

Design/methodology/approach

The research employed qualitative ethnographic methods that included participant observation, face‐to‐face interviews with business owners in eight states, and document analysis.

Findings

The paper finds that Amish businesses have a success rate above 90 percent, which is much higher than that of other American small businesses. Five types of socio‐cultural capital (human, cultural, social, religious, and symbolic) account for the high success rate of Amish enterprises.

Research limitations/implications

The qualitative methods do not permit quantitative analysis or tracking the performance of businesses over an extended period of time.

Practical implications

Understanding the importance of socio‐cultural capital assets and deficits for business success is critical for entrepreneurs, consultants, and scholars.

Originality/value

The five concepts of socio‐cultural capital assets and deficits are a significant expansion of traditional social capital theory. These concepts offer a rich resource for understanding small business failure and success and merit inclusion in future research. Religious and symbolic capitals are especially pertinent for understanding enterprise building in religious and ethnic communities.
Environmental dynamism, innovation, and dynamic capabilities: the case of China
Authors: Jiao Hao , Alon Ilan , Cui Yu
Published: June 2011

Purpose

Based on the resource‐based view, creating and maintaining a long‐term competitive advantage requires significant attention to developing and nurturing dynamic capabilities in emerging markets. With increasing research attention given to the dynamic capabilities view, the need to explore the building mechanism has continued to escalate. This study aims to consider environmental dynamism as a moderating variable, to build a theoretical model for innovation strategy and dynamic capabilities, and finally to summarize the building mechanism for dynamic capabilities.

Design/methodology/approach

A total of 400 high‐tech and knowledge intensive and other kind business firms in Yantz River Delta region in China were approached. In total, 158 responses were received, of which 110 were usable. To check for possible response bias, early and late respondents were compared and no response bias was found in the study.

Findings

The empirical results find that the coefficient for innovation strategy is positive and significant for dynamic capabilities. However, it also finds that the interaction term between innovation strategy and environmental dynamism is not significant in predicting dynamic capabilities. Therefore, an innovation strategy can build and upgrade dynamic capabilities in both stable and rapidly changing environments.

Originality/value

An empirical verification of the links between innovation strategy and dynamic capabilities is conducted, and the role of environmental dynamism on innovation strategy and dynamic capabilities in the context of an emerging market is also examined, which there is a lack of in the current literature. This study provides implications for both government and entrepreneurs in finding the right way to build dynamic capabilities through employing innovation strategy.
Entrepreneurship, the informal economy and rural communities
Authors: Williams Colin C.
Published: June 2011

Purpose

This paper aims to evaluate whether early‐stage entrepreneurs and the established self‐employed in rural communities trade off‐the‐books and whether this tendency varies across deprived and affluent rural localities.

Design/methodology/approach

Face‐to‐face interviews were conducted with 350 households in both affluent and deprived rural communities in England.

Findings

In both the affluent and deprived rural communities surveyed, wholly legitimate enterprises represent just the tip of the iceberg. Beneath the surface is a large hidden enterprise culture of both registered businesses trading off‐the‐books and unregistered wholly off‐the‐books enterprises. However, the preponderance of both early‐stage entrepreneurs, as well as the established self‐employed to trade off‐the‐books is greater in deprived than affluent rural communities, intimating that deprived rural communities are perhaps relatively more enterprising and entrepreneurial than is currently recognised.

Research limitations/implications

These findings are based on a small‐scale study of five English rural communities. Further studies are now required to evaluate whether similar findings are replicated elsewhere.

Practical implications

The paper reveals that legitimising the hidden enterprise culture in deprived rural communities could be an important but so far untapped means of promoting enterprise and economic development.

Originality/value

Evaluates the extent of informal entrepreneurship in rural communities and how this varies spatially.
Rural sustainability and the built environment
Authors: Bantjes Rod
Published: June 2011

Purpose

The purpose of this paper is first, to assess the applicability of the ideal of mixed‐use nodal development to a small town and rural setting. Second, it aims to model the patterns of density of the built environment, distribution of amenities and associated variations in travel distances and to show how all three have changed over the last decade in Antigonish town and county (Nova Scotia, Canada).

Design/methodology/approach

The core of the paper is a quantitative analysis, using GIS software to measure the changes in the built environment described in the second purpose (above).

Findings

The trend in Antigonish has generally been away from nodal development and towards increased commercial sprawl and increased distances between residences and amenities. However, there are realistic opportunities for reversing this trend.

Research limitations/implications

The paper suggests improved measures of access to amenities (to include employment) and improved measures of walkability using GIS.

Practical implications

The findings of this paper are directly applicable to planning to improve the social amenities and environmental sustainability in a small town/rural context.

Originality/value

There is very little literature on the applicability of theories of nodal development in a small town/rural setting. This paper addresses that problem and brings innovative GIS techniques to bear on it.
Rent control and vacancies in Sweden
Authors: Wilhelmsson Mats , Andersson Roland , Klingborg Kerstin
Published: June 2011

Purpose

The purpose of this paper is to analyze the effects of Swedish rent controls on observed vacancy rates for rental housing.

Design/methodology/approach

Housing vacancy rates are unevenly distributed among Swedish municipalities. In large expansive municipalities, such as Malmö, Göteborg and Stockholm, vacancy rates are very low, while in declining or smaller municipalities such as those in the northern and interior parts of Sweden, vacancy rates are considerably higher. This implies welfare losses not only in growing municipalities with queues for rental apartments but also in municipalities that are shrinking since the controlled rents there are higher than market rents and cause higher vacancy rates than with market rents. The authors estimate the influences of various determining factors, such as population growth, population size, rent levels, construction, demolition and market orientation of rents, on the observed vacancy rates.

Findings

The authors find that that these factors affect the vacancy rates differently depending on whether a municipality is large or small, growing or shrinking. Population growth, in percent per year, plays an important role in explaining the observed vacancy rates in declining regions.

Research limitations/implications

A research task that remains to be done is to calculate the welfare losses due to rent higher than the market rent for municipalities in contraction.

Practical implications

To reduce the welfare losses of rent control, both in expanding and contracting municipalities, economists' straightforward recommendation to deregulate the rent control should, in principle, be carried out.

Originality/value

In many countries, rent control regulations are limited to cities, such as New York City. The paper shows that the Swedish rent control system however, applies nationwide, except for annual rent increases, which are set locally through negotiation.
Cycles in landed and non‐landed housing sub‐markets in Malaysia
Authors: Hui Hon‐Chung
Published: June 2011

Purpose

There exists a voluminous literature which examines house price diffusions across space and quality tiers. Numerous observers have pointed out that housing price dynamics can also be analysed in terms of house price diffusions across different housing sub‐markets (e.g. landed vs non‐landed housing). However, there has been no research to document these cyclical interactions. The purpose of this paper is to remedy this research gap by offering evidence of cyclical dynamics between different housing sub‐markets for the case of Malaysia.

Design/methodology/approach

The dynamics between house prices of non‐landed housing (condominium) and landed housing (terrace, semi‐detached and detached housing sub‐markets) are analysed. Band‐pass filters are first used to extract the cyclical components from the four house price series. Next, interactions between house price cycles are documented using cross‐correlation analysis, Granger‐causality tests and impulse response functions. Finally, the out‐of‐sample forecasting performance of the respective house price series is examined.

Findings

The author finds that condominium price cycles are exogenous in that they lead the price cycles in other housing sub‐markets by one‐ to two‐quarters. Second, condominium price cycles drive price cycles in the terrace and detached sub‐markets. Third, cycles in condominium prices are able to predict house price cycles in other sub‐markets with a high degree of precision.

Originality/value

This is the first known study that establishes stylised facts of lead‐lag relationships between house price cycles in different housing sub‐markets. The findings have several practical implications for housing investors who intend to optimise investment decisions on housing purchases.
Insight into apartment attributes and location with factors and principal components
Authors: Bonnafous Alain , Kryvobokov Marko
Published: June 2011

Purpose

The purpose of this paper is to better understand the spatial structure of the Lyon urban area focusing on real estate. For this, two aims are formulated. The first aim is to identify and geographically analyse latent structure underlying apartment variables and location. The second aim is to decrease a number of explanatory variables in a hedonic model of real estate prices applying latent constructs.

Design/methodology/approach

For the first aim of a parsimonious representation among measured variables, exploratory factor analysis is applied. For the second aim of data reduction, principal component analysis (PCA) is used. The exploited regression methodologies are global and geographically weighted ordinary least squares.

Findings

Four factors are extracted, of which two represent apartment attributes and other two – location attributes. Principal components provide better insight into location attributes dividing the service employment centres into two geographical groups. The inclusion of principal components in hedonic price equation instead of initial location variables decreases goodness of fit, but does not gradually change non‐location estimates and other parameters.

Originality/value

Differently from previous applications of factor analysis and PCA in the real estate domain, oblique rotation is applied, which allows the extracted factors or components to be correlated. The scores of factors and components are interpolated from points to raster maps creating a continuous geographical distribution. Hedonic models with and without principal components are compared in detail.
Fractionation of Sauvignon wine macromolecules by ultrafiltration and diafiltration: impact of protein composition on white wine haze stability
Authors: de Bruijn Johannes , Martínez‐Oyanedel José , Loyola Cristina , Seiter Javier , Lobos Francisco , Pérez‐Arias Ricardo
Published: June 2011

After ultrafiltration (UF) thermally unstable compounds of Sauvignon blanc wines were concentrated in the retentate fractions of 10–30 kDa increasing heat‐induced haze 8.9‐fold, while concentrating haze stabilising species into the retentate fractions of 100–300 kDa with a 5.3‐fold reduction of heat‐induced haze compared to unfiltered wine. Proteins having molecular weights of 18, 23, 33, 35, 40 and 60 kDa were identified as the main haze promoting agents for Sauvignon blanc, where the proteins of 56, 69 and 72 kDa were identified as thermally stable. Potassium sulphate (100 mg L−1) and magnesium sulphate (25 mg L−1) did not affect wine haziness at experimental diafiltration (DF) conditions using model wine solutions. Combination of UF and DF is a useful separation method of wine proteins, which is helpful to quantify haziness of individual species and to reveal the interactions between species involving protein haze.
Nutritional and quality aspects of wheat sourdough bread using L. luteus and L. angustifolius flours fermented by Pedioccocus acidilactici
Authors: Bartkiene Elena , Juodeikiene Grazina , Vidmantiene Daiva , Viskelis Pranas , Urbonaviciene Dalia
Published: June 2011

Lupine has the potential to be a new domestic source of vegetable protein due to its comparable quality to the commonly used soy proteins. However, the bioprocessing that take place in the production of wheat bread with non‐conventional flours could play an important role. The wholemeal Lupinus angustifolius and Lupinus luteus flours were fermented by bacteriocin‐producing strain of Pediococcus acidilactici. The effect of lupine flour supplementation on wheat bread quality, sensory and safety criteria was studied. The lupine additives significantly decreased the quality of bread. The fermented L. luteus flour (10% of flour basis) had a slightly higher positive effect on the specific volume and crumb porosity (5.4%) and lowering of crumb hardness (9.5%) than those of L. angustifolius. In contrary, consumers rated higher for bread with L. angustifolius sourdough, which contributed to a stronger taste score. The levels of tyramine, histamine and putrescine (32.6–215.8, 20.8–96.7 and 33.7–195.2 mg kg−1, respectively) do not present a health risk for consumers due to their relatively low levels in lupine fermented products. Bioprocessing used for wheat bread production with lupine flour additives could improve the nutritional profile of bread without increasing the risk of biogenic amine formation.
Flexible components of functional responses
Authors: Okuyama Toshinori
Published: June 2011

1. The functional response of predators describes the rate at which a predator consumes prey and is an important determinant of community dynamics. Despite the importance, most empirical studies have considered a limited number of models of functional response. In addition, the models often make strong assumptions about the pattern of predation processes, even though functional responses can potentially exhibit a wide variety of patterns.

2. In addition to the limited model consideration, model selections of functional response models cannot tease apart the components of predation (i.e. capture rate and handling time) when flexible traits are considered because it is always possible that many different combinations of the capture rate and handling time can lead to the same predation rate.

3. This study directly examined the capture rate and handling time of functional response in a mite community. To avoid the model selection problem, the searching and handling behaviour data were collected. The model selection was applied directly to these two components of predation data. Commonly used functional response models and models that allow for more flexible patterns were compared.

4. The results indicated that assumptions of the commonly used models were not supported by the data, and a flexible model was selected as the best model. These results suggest the need to consider a wider variety of predation patterns when characterizing a functional response. Without making a strong assumption (e.g. static handling time), model selections on functional response models cannot be used to make reliable inferences on the predation mechanisms.
Lifetime fitness correlates of natal dispersal distance in a colonial bird
Authors: Serrano David , Tella José L.
Published: June 2011

1. Obtaining empirical evidence of the consequences of dispersal distance on fitness is challenging in wild animals because long‐term, unbiased data on reproduction, survival and movement are notoriously difficult to obtain.

2. Lifetime fitness correlates of natal dispersal distance were studied in an isolated population of the facultatively colonial lesser kestrelFalco naumanni(Fleischer) monitored during 8 years at north‐eastern Spain, where most birds (83%) dispersed from their natal colony to settle at distances ranging from 112 m to 136·5 km.

3. Neither annual breeding success nor age at recruitment was affected by natal dispersal distance. However, a capture–mark–recapture analysis revealed that survival during the year following recruitment decreased exponentially with dispersal distance, with differences of up to 15% between philopatrics and long‐distance dispersers. In subsequent years, it remained similar irrespective of the natal dispersal distance moved. These results did not seem to be biased by long‐distance dispersers settling differentially in the periphery of the population (which could emigrate permanently and be considered dead in future occasions) or within‐individual consistency in successive dispersal distances, so our results appear to reflect genuine survival differences between dispersal tactics.

4. Average lifetime fledgling production, average lifetime recruitment success and rate‐sensitive individual fitness (λind) also decreased with the distance from the natal to the first‐breeding colony, indicating that dispersal decisions early in life affecting immediate survival prospects may translate into long‐term fitness costs.

5. Both survival and lifetime fitness models including continuous dispersal distances significantly improved the characterization of the effect on fitness compared with models considering dispersal as a discrete process (i.e. dispersal vs. philopatry at a colony level).

6. Long‐distance dispersers were more likely to establish new colonies regardless of whether they recruited in the centre or the periphery of the population, revealing their important role in the colonization of unoccupied patches. Individuals experienced a higher probability of mortality in small and newly funded colonies, so lifetime fitness costs of dispersal seem to be explained by recruitment in sites where average quality is low because of high uncertainty in survival prospects.