Applying multivariable probit models on a large dataset of urban non-slum households, we find that homeownership tenure choice in India is significantly associated with gender, religion and caste. In particular,large households or those headed by women or with larger number of women are significantly more inclined towards homeownership than households of otherwise similar characteristics. Salaried households are the least and self-employed households the most likely to be homeowners. Sikhs and Jains show significantly higher; but Muslims show significantly lower propensity towards homeownership after controlling for other factors. Castes which have been victims of discrimination show significantly higher propensity towards homeownership.
This article analyzes the impact of price targets from the IBES Detail Price History Target database on CEO compensation retained from Execucomp. The two databases are merged at fiscal year frequency and an OLS regression with fixed effect is used to analyze the impact of price target on CEO compensation. The analysis reveals that analysts’ price targets affect top executives’ compensation: when analysts predict a growth in the share price for a company, the compensation package tilts towards stock options, when analysts forecast a drop in the share price, the compensation package tilts towards cash-based compensation and restricted stocks. I argue that the result is more aligned with the managerial power model of compensation (which assumes the board of directors maximizes managers’ compensation) than with the arm’s length bargaining model (that states that managers’ compensation is set to maximize shareholders’ profit).
This study explores the institutional and regulatory obstacles to hospitality and tourism research in Switzerland and explains why scientific research is underdeveloped in Swiss hotel and tourism management schools. A case study approach is adopted to analyze the research practices pursued by Ecole hôtelière de Lausanne as a solution to combat the regulatory constraints in Swiss higher education. This study shows that the EHL experience can be an example for other Swiss hotel schools to follow, through developing academic research and innovation to consolidate hospitality and tourism education in the era of the experience economy.
This study aims to extend previous tourist behavior research by examining whether and how a set of covariates, including culture, social demographics, and travel behavioral patterns, can affect the behavioral consequences of hotel guests. We developed a Multiple Indicators Multiple Causes (MIMIC) model to test the effects of these covariates on the factor structure of hotel guests’ behavioral consequences, which were measured by service quality, satisfaction, loyalty, and complaint intentions . The model was tested on a large sample of 2,267 Hong Kong hotel guests during the period 2010–2015. This study verified the four-factor structure of the behavioral consequences of hotel guests in the presence of the covariates. The results showed that culture, demographic variables including gender, age, education, and income, and travel experience can predict the behavioral consequences of hotel guests in Hong Kong.
A panel of highly renowned leaders of change in the emergent field of “onlin e management education” invited thoughts about the structure and dynamics surrounding a new generation of higher education organizations that transcend geographic, social, and economic boundaries in radical ways. The panel brings different stakeholder perspectives of this emergent ecosystem (from small and large education institutions, and fro m across many countries), and offers unique insights from initiatives that challenge the status - quo. As a result, a series of interactive discussions offers a multi - faceted perspective around the “Busi ness School 2.0” concept. The p anelists unveil ed their perspectives around this concept, and altogether we sought to converge on a set of propositions on the new opportunities (academic, economic, social, technical) for management education relative to the solely campus - based business school. The panelists built on their complementary experiences to engage the PDW participants from their own perspective on the “new sources of value” (and corresponding challenges) in the emergent ecosystem associated with the concept. Our PDW brought to the Academy an informed intellectual exchange on the key success factors rooted in practice that should benefit our quest for better models for management education.
This study analyzes the consumer perception of yield management (YM) with an example in the hotel sector. Hotels use these practices in order to increase their incomes. However, the dual entitlement theory suggests that customers perceive YM practices as unfair when they are not the result of cost increase or external factors. This study explores four YM practices that might be suitable in the hotel context through an empirical study of the behavior of 1010 customers. The study consists of non-parametric tests to analyze the perception of YM practices and Anova tests to identify relationships between the variables that may explain customer behavior. The results show that the manner of presenting the YM practices to consumers (positive or negative frame) has a considerable influence on their perception. Lastly, loyal customers perceive price changes the YM introduces as more unfavorable. From this point of view, firms can use several managerial levers in the communication of tariff practices and management of loyalty programs to avoid or reduce customers' perception of unfairness.
In the industry of venture capital, the majority of investments in startups are realized in the form of syndica tion by venture capitalists (VCs), which diversify thus their risk and maximize their profits. Corporations also invest in startups with VCs, but often for different reasons. They rather seek to acquire information on the marketable innovations or new tech nologies. Their growing weight (17% of total investment in venture capital in 2015, against 8% in 2010) puts the question of the determinants of their investments. So, we investigate how their relations with VCs and their relationships in syndication netwo rks influence their decisions of investment. Using data of corporate venture capital (CVC) investments by US corporations between 2001 and 2013, we analyze their expenditure of CVC following their position in syndication networks, and their financial resou rces. The GMM models used show that the annual amount of CVC expenditures of these companies depends on the number of their relations of co - financing and their cash - flows of the previous year, and also their preceding investments. On the other hand, their previous centrality in the networks of syndication is not significant, contrary to the social network theory, which stipulates that prior central positions in syndication networks significantly explain future network positions of corporate venture capitalists.
