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Licensed clubs in Australia offer a range of types of hospitality, gambling and entertainment. Increased competition is forcing them to reappraise features or attributes of their products in order to ensure that they are marketing the right mix of features to their patrons, both club members and visitors. Uses conjoint analysis in order to examine the utility obtained by patrons from alternative types of food and beverage service, gambling and entertainment at two major clubs. The study indicates value differences between clubs, and between patron groups, providing a basis for segmentation. The findings lead to indicators for club marketing strategy.

Looks at ways of extracting the maximum marketing advantages out of a hotel/motel′s location. Sets out a methodology for formally determining the value, and price of a hotel or motel′s location in setting room rates and presents an empirical study undertaken on motels in Ballina, Australia.

This paper supports the desire of the UK Government to introduce to the National Health Service the concept of accountability for expenditure. General practice budgets will, for the first time, allow GPs, as purchasers of care, to define the needs of their patients and to arrange for those needs to be met, circumventing the arbitrary limits imposed on providers of care under the present arrangements. Should overspending of budgets occur, other doctors will review the decisions made. If the decisions are supported then it will be clear that the budget was insufficient rather than that the practitioner was profligate. The reverse might apply, but such peer review should not be unwelcome. Budgetary control will allow greater choice for the GP of the nature of 2° care provided for his patients. Trust between doctor and patient need not be undermined — indeed, patients may be more confident that they will not be exposed to inappropriate medical intervention. The responsibilities conferred by GP budgets should be accepted, the opportunities welcomed.

The purpose of this paper is to evaluate cow-calf producer incentive to adopt innovations in traits with important environmental and economic implications for the beef supply chain.

A whole farm multi-year farm optimization model that tracks changes in discounted net returns and methane emissions from the use of newer DNA-related technologies to breed for feed efficient cattle is developed. The analysis is situated within the context of whole beef cattle supply chain. This allows for the derivation of the entire value and environmental impact of the innovation, and the decomposition of value by different participants. The impact of different policies that can stimulate producer uptake and the diffusion of the innovation is also addressed.

The results of the study showed that whilst the use of the breeding technology yielded positive economic and environmental benefits to all producers in the supply chain, primary adopters were unlikely to adopt. This paper finds evidence of the misalignment in incentives within the supply chain with a significant proportion of the additional value going to producers who do not incur any additional cost from the adoption of the innovation. The study also highlighted the role of both public and market-based mechanisms in the innovation diffusion process.

This paper is unique as it is the first study that addresses producer incentive to adopt genomic selection for feed efficiency across the entire beef cattle supply chain, and incorporates both economic and environmental outcomes.

Limited resources must be invested wisely. Society′s humanitarian duty to care must be satisfied as well as the economic imperative to use resources rationally. This cannot properly be achieved by reduction of all considerations to a single number which represents a ratio of health gain to resource cost.

This study aims to explore the oil–stock market nexus from a novel angle by examining the predictive role of oil prices over the excess returns associated with the market, size, book-to-market and momentum factors via bivariate cross-quantilograms.

This study makes use of the bivariate cross-quantilogram methodology recently developed by Han et al. (2016) to analyze the predictability patterns across the oil and stock markets by focusing on various quantiles that formally distinguish between normal, bull and bear as well as extreme market states.

The study analysis of systematic risk premia across the four regions shows that crude oil returns indeed capture predictive information regarding excess factor returns in stock markets, particularly those associated with market, size and momentum factors. However, the predictive power of oil return over excess factor returns is asymmetric and primarily concentrated on extreme quantiles, suggesting that large fluctuations in oil prices capture markedly different predictive information over stock market risk premia during up and down states of the oil market.

The findings have significant implications for the profitability of factor- or style-based active portfolio strategies and suggest that the predictive information contained in oil market fluctuations could be used to enhance returns via conditional strategies based on these predictability patterns.

This study contributes to the vast literature on the oil–stock market nexus from a novel perspective by exploring the effect of oil price fluctuations on the risk premia associated with the systematic risk factors including market, size, value and momentum.

Considers the two issues of the range of health care services and balances within the range. Notes the necessity of conducting a national debate concerning the range and limits of service provision within the health service framework. Stresses the importance of making decisions of balance within the range at local level. Unless there is a rational framework for decision making at both levels, both patients and society itself will suffer from inconsistency, confusion and inequity.

The purpose of this paper is to examine financial management in the Pre‐Reformation church in Aberdeen, Scotland during the bishopric of Bishop William Elphinstone (1488‐1514).

The paper employs a combination of literature‐based analysis, archival research and the use of biographies in order to examine aspects of financial management within the Pre‐Reformation church in Aberdeen, Scotland.

There is evidence that accounting for assets and income was mobilised in order to achieve social aims. Recording mechanisms give visibility to the church's remuneration and governance strategy. Together, these examples show that there was no evidence of a sacred/secular divide in this context.

Archives may be incomplete but can give insight into financial management in historical context and aspects of the sacred/secular divide.

This paper aids understanding of visibility and governance possibilities afforded by accounting that has been mobilised in an historic setting in order to achieve social aims.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

This paper examines the extreme dependence and asymmetric risk spillovers between crude oil futures and ten US stock sector indices (consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, telecommunication and utilities) before and during COVID-19 outbreak. This study is based on the rationale that stock sectors exhibit heterogeneity in their response to oil prices depending on whether they are classified as oil-intensive or non-oil-intensive sectors and the possible time variation in the dependence and risk spillover effects.

The authors employ static and dynamic symmetric and asymmetric copula models as well as Conditional Value at Risk (VaR) (CoVaR). Finally, they use robustness tests to validate their results.

Before the COVID-19 pandemic, crude oil returns showed an asymmetric tail dependence with all stock sector returns, except health care and industrials (materials), where an average (symmetric tail) dependence is identified. During the COVID-19 pandemic, crude oil returns exhibit a lower tail dependency with the returns of all stock sectors, except financials and consumer discretionary. Furthermore, there is evidence of downside and upside risk asymmetric spillovers from crude oil to stock sectors and vice versa. Finally, the risk spillovers from stock sectors to crude oil are higher than those from crude oil to stock sectors, and they significantly increase during the pandemic.

There is heterogeneity in the linkages and the asymmetric bidirectional systemic risk between crude oil and US economic sectors during bearish and bullish market conditions; this study is the first to investigate the average and extreme tail dependence and asymmetric spillovers between crude oil and US stock sectors.