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Article
Publication date: 19 September 2023

Rebecca Weir, Joleen Hadrich, Alessandro Bonanno and Becca B.R. Jablonski

Beginning Farmer and Rancher programs are available for operators with ten years of experience or less on any farm. These programs support farmers who are starting operations…

Abstract

Purpose

Beginning Farmer and Rancher programs are available for operators with ten years of experience or less on any farm. These programs support farmers who are starting operations, often without an initial asset allocation. However, some beginning farmers acquire operations that are already established, with substantial assets in place. The authors investigate whether a profitability gap exists between beginning farmers entering the industry ex novo and those operating a preexisting operation and if so, what factors contribute to the gap.

Design/methodology/approach

The authors utilize the Blinder-Oaxaca decomposition to determine what drives financial differences between first-generation beginning farmers, second-generation beginning farmers and established farmers using a unique farm-level panel dataset from 1997 to 2021.

Findings

Results indicate that first- and second-generation beginning farmers have similar operating profit margins, but first-generation beginning farmers have a statistically higher rate of return on assets than second-generation beginning farmers. Established farmers outperform second-generation beginning farmers on both the operating profit margin and rate of return on assets. These results suggest that economic viability for beginning farmers differs depending upon the initial status of their operation, suggesting that heterogenous policies may be more impactful in supporting various pathways to enter agriculture.

Originality/value

This analysis is the first to identify beginning farmers that enter the industry without an asset base and those that take over a principal operator role on an established farm through an assumed farm transition. The authors quantify differences in financial performance using detailed accrual-based financial data that tracks farms over time in one dataset.

Details

Agricultural Finance Review, vol. 83 no. 4/5
Type: Research Article
ISSN: 0002-1466

Keywords

Book part
Publication date: 14 December 2023

William M. Baker

This chapter presents a new approach to teach process costing that uses worksheets to create the information necessary to account for costs. The approach employs a five-column…

Abstract

This chapter presents a new approach to teach process costing that uses worksheets to create the information necessary to account for costs. The approach employs a five-column, five-row worksheet that presents weighted-average and FIFO costs per equivalent unit simultaneously. Then, the goal of process costing, accounting for costs, is formally presented in a manner to emphasize its importance. As a result, students are better able to compare and contrast the two process-costing methods.

Details

Advances in Accounting Education: Teaching and Curriculum Innovations
Type: Book
ISBN: 978-1-83797-172-5

Keywords

Article
Publication date: 18 March 2024

Natividad Araque-Hontangas

The purpose of this paper is to investigate the unexplored part of the historical evolution of travel agencies in Spain, from the end of the 20th century to the 21st century. When…

Abstract

Purpose

The purpose of this paper is to investigate the unexplored part of the historical evolution of travel agencies in Spain, from the end of the 20th century to the 21st century. When examining promotion strategies, the study focuses on the change in marketing and public relations strategies based on the incorporation of information and communication technologies and, in particular, the use of the internet.

Design/methodology/approach

This study draws on a qualitative analysis of the different strategies used by traditional agencies and online agencies in Spain from the mid-19th century to the present. This analysis shows how traditional communication strategies survived at the beginning of the 21st century, together with other more innovative ones, while some disappeared, being eliminated by the new online travel agencies, which created a particular conception of marketing and communication. This paper is divided into the following parts: the introduction; the beginnings of travel agency promotion in the 20th century; the evolution of promotion in travel agencies since the late 20th century; communication innovation at the beginning of the 21st century; online travel agencies; and conclusions.

Findings

This study shows that although online agencies did not manage to position themselves with a large turnover, they generated advantages and sharpened their imagination to create a new, more economical advertising model, eliminating the costs of public relations and advertising campaigns. In addition, they allowed clients to have greater independence when making their reservations, while enabling them to monitor the tastes of potential and real clients and add blogs so that consumers could express their degree of satisfaction with the product or services provided by the agency.

Originality/value

The focus of attention is the travel agency sector in Spain and, more specifically, communication. Studies on travel agencies and their marketing have been very scarce and partial, impeding professionals in the tourism sector from having a broad vision to direct their promotional and public relations actions. The originality of this article lies in its making a comparison between two different visions of tourism marketing and, specifically, of travel agencies, that is, the traditional vision and the innovative one. It thus helps all professionals in the sector to value and improve their marketing and communication strategies.

Details

Journal of Historical Research in Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-750X

Keywords

Book part
Publication date: 18 March 2024

Stefanie Sullivan and Joanna McIntyre

In the context of a highly regulated teacher education system, this chapter offers an alternative vision for a ‘better normal’ for teacher education in England. It foregrounds the…

Abstract

In the context of a highly regulated teacher education system, this chapter offers an alternative vision for a ‘better normal’ for teacher education in England. It foregrounds the need for teacher educators and teacher preparation curricula to promote ‘a way of being’ that enables teachers and teacher educators to have agency, develop as ‘thinking’ professionals and be resilient in an ever-changing policy context.

Article
Publication date: 21 November 2023

António Miguel Martins and Susana Cró

This paper investigates the short-term market impact of the beginning of the military conflict between Russia and Ukraine (February 24, 2022) on a set of airline stocks listed.

Abstract

Purpose

This paper investigates the short-term market impact of the beginning of the military conflict between Russia and Ukraine (February 24, 2022) on a set of airline stocks listed.

Design/methodology/approach

This study uses an event study methodology, cross-section analyses and interaction effects to study the effect of the war on airline stock prices and firm-specific characteristics that explain the cumulative abnormal return.

Findings

The authors observe a negative and statistically significant stock price reaction at and around the beginning of the military conflict between Russia and Ukraine, for 74 listed airlines. These results are consistent with investment portfolio rebalancing and asset pricing perspective. Moreover, this study's results show a higher negative stock market reaction for airlines based in Europe. Empirical evidence suggests the existence of a “proximity penalty” for European companies. Finally, this study's results provide insights into which airline-specific characteristics emerge as value drivers. Larger, well-capitalized (high liquidity and low debt) and profitable airlines firms with less institutional ownership have superior stock market returns and show more able to handle with the losses resulting from the war.

Originality/value

This paper fills a gap in the literature about the impact of the Russia–Ukraine war on the airline industry.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 28 November 2023

Juan José Blázquez-Resino, María Pilar Martínez-Ruiz and Ana Isabel Muro Rodríguez

Given the great tourist attractiveness of Spain at international level, tourism has become one of the main sources of income and employment, as well as a basic pillar of the…

Abstract

Purpose

Given the great tourist attractiveness of Spain at international level, tourism has become one of the main sources of income and employment, as well as a basic pillar of the Spanish economy. With these ideas in mind, this paper aims to study how the different promotion strategies implemented in the industry have influenced the evolution of tourism in Spain since the early 20th century.

Design/methodology/approach

The research is a general review, providing a historical examination of the diverse promotion strategies deployed in the tourism industry in Spain over the past decades. It focuses on the descriptive approach of these strategies and their implications throughout the 20th century and the beginning of the 21st century.

Findings

The findings reveal a shift in recent years from strategies focused on Marketing 1.0 to strategies that, apart from being centered on consumer values (therefore, Marketing 3.0), are beginning to rely to a greater extent on information and communication technologies (ICT) and sustainability, more in line with the more recent Marketing 4.0 and even Marketing 5.0.

Social implications

This work has many implications for the management of public and private operators in the industry, including the need to incorporate the latest marketing trends – most notably the advances in ICT and sustainability.

Originality/value

The study offers an in-depth understanding of how marketing strategies have been used in the tourism sector in Spain from the end of the 19th century to the present day, which is highly original compared to previous studies.

Details

Journal of Historical Research in Marketing, vol. 16 no. 1
Type: Research Article
ISSN: 1755-750X

Keywords

Article
Publication date: 1 February 2023

Sue Cronin

This paper aims to consider the practices and experiences of the new school-based mentors for Early Career Teachers (ECT's), emerging from the UK Government's new early career…

Abstract

Purpose

This paper aims to consider the practices and experiences of the new school-based mentors for Early Career Teachers (ECT's), emerging from the UK Government's new early career framework (ECF) policy (DfE, 2019a). The paper uses Lipsky's (2010) framing of professionals as “street level bureaucrats” to consider the extent to which the ECT mentors, as new policy actors, exercise professional discretion (Lipsky, 2010) in negotiating and aligning the new ECF policy with existing practice.

Design/methodology/approach

To research the mentor's interpretation and enactment of the new ECF policy, semi structured interviews were undertaken with an initial sample of nine mentors and four induction tutors who were also mentors. Online semi structured interviews were held, lasting around 50 min. This method was largely pragmatic as the study started during a period when schools were still cautious of face-to-face visitors in terms of COVID-19. Although the benefits for the interviewer experiencing the culture and context in which the ECT mentor was situated were lost, offering online interviews was critical in securing mentors' time.

Findings

Findings suggest a disconnect between the intentions of the policy and the reality of its enactment at a local level. The ECT mentors have limited professional discretion, but some are exercising this in relation to their own professional development and the training they are providing for their ECTs. Most of the mentors are adapting the ECT's professional development journey whilst mindful of the programme requirements. The degree to which the ECT mentors used professional discretion was linked and limited largely by their own levels of confidence and experience of mentoring, and to a lesser extent the culture of their schools.

Research limitations/implications

The ECF policy represents an important step in acknowledging the need to professionally develop mentors for the work they undertake supporting beginning teachers. However, the time and the content of the mentor training have not been given sufficient attention and remains a hugely missed opportunity. It does not appear to be recognised by the government policy makers but more significantly and concerning in this research sample it is not being recognised sufficiently by those mentoring the ECTs themselves.

Practical implications

There is an urgent need by the UK government and school leaders to understand the link between the quality of mentor preparation and the quality of the ECTs who will be entering the profession and influencing the quality of education in future years. More time and resourcing need to be focussed on the professional development of mentors enabling them to exercise professional discretion in increasingly sophisticated ways in relation to the implementation of the ECF policy.

Originality/value

The ECF policy is the latest English government response to international concerns around the recruitment and retention of teachers. The policy mandates for a new policy actor: the ECT mentor, responsible for the support and professional development of beginning teachers. The nature of the mentor's role in relation to the policy is emerging and provides an interesting case study in the disconnect between the intentions of a policy and its initial enactment on the ground. The mentors may be viewed as street level bureaucrats exercising degrees of professional discretion as they interpret the policy in their own school context.

Details

International Journal of Mentoring and Coaching in Education, vol. 12 no. 4
Type: Research Article
ISSN: 2046-6854

Keywords

Open Access
Article
Publication date: 28 March 2024

Elgazzar Iman Mahmoud Khalil

At the beginning of the 21st century, a new class of information workers, the “information have-less” has risen. This class of workers alleviates the influence of information and…

Abstract

Purpose

At the beginning of the 21st century, a new class of information workers, the “information have-less” has risen. This class of workers alleviates the influence of information and communication technologies (ICTs) revolution on poverty and unemployment. The purpose of this study is to investigate the presence of this class of workers in Egypt and assess the size and potential growth of this category of workers.

Design/methodology/approach

The study clarifies the conceptual framework of the new division of labor, in the information age. The Central Agency for Public Mobilization and Statistics, American Chamber of Commerce in Egypt, Ministry of Communications and Information Technology and Information and Decision Support Center websites provided secondary data for this study. These data are used to assess the size of “the information have less” in Egypt.

Findings

The division of work and class, in the 21st century, depends on the level of skills possessed to work with ICTs. So, class and labor nowadays could be divided into self-programmable labor (Innovators). Information have-less labor class, adding value to the economy by learning skills and presenting repetitive work. Generic labor class, who cannot work with ICTs, and work in jobs, that do not need computers or other ICTs. The study has shown that the “information have-less” labor class is present in Egypt since the beginning of the 21st century, in all its categories; entrepreneurism, the service sector and the manufacturing sector. There are approximately 50% of this labor class in the service sector and only 13% of the information have-less works in manufacturing sector despite the great opportunities that Egypt has to expand manufacturing to absorb more employment. The inclusion of information technology (IT), in all domains, has not decreased employment in Western countries but has reallocated information have-less employment toward the service sector, and there would probably be the same effect in Egypt.

Practical implications

The study highlights the need for Egyptian policymakers to encourage the manufacturing and service sectors to provide huge working opportunities. The Egyptian government has to change the educational policies, at all stages, to include digital learning skills so IT can be incorporated in a wide range of economic activities. Further research includes: conducting a survey to measure the contribution of the entrepreneurial part of the information have-less employment in Egypt. In addition, a model may be developed, by the researcher to examine the reallocation of employees in Egypt.

Originality/value

Studying employment, in Egypt, using the conceptual framework of the information age is rarely being done.

Details

Review of Economics and Political Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2356-9980

Keywords

Article
Publication date: 23 November 2023

Sirine Ben Yaala and Jamel Eddine Henchiri

This study aims to predict stock market crashes identified by the CMAX approach (current index level relative to historical maximum) during periods of global and local events…

28

Abstract

Purpose

This study aims to predict stock market crashes identified by the CMAX approach (current index level relative to historical maximum) during periods of global and local events, namely the subprime crisis of 2008, the political and social instability of 2011 and the COVID-19 pandemic.

Design/methodology/approach

Over the period 2004–2020, a log-periodic power law model (LPPL) has been employed which describes the price dynamics preceding the beginning dates of the crisis. In order to adjust the LPPL model, the Global Search algorithm was developed using the “fmincon” function.

Findings

By minimizing the sum of square errors between the observed logarithmic indices and the LPPL predicted values, the authors find that the estimated parameters satisfy all the constraints imposed in the literature. Moreover, the adjustment line of the LPPL models to the logarithms of the indices closely corresponds to the observed trend of the logarithms of the indices, which was overall bullish before the crashes. The most predicted dates correspond to the start dates of the stock market crashes identified by the CMAX approach. Therefore, the forecasted stock market crashes are the results of the bursting of speculative bubbles and, consequently, of the price deviation from their fundamental values.

Practical implications

The adoption of the LPPL model might be very beneficial for financial market participants in reducing their financial crash risk exposure and managing their equity portfolio risk.

Originality/value

This study differs from previous research in several ways. First of all, to the best of the authors' knowledge, the authors' paper is among the first to show stock market crises detection and prediction, specifically in African countries, since they generate recessionary economic and social dynamics on a large extent and on multiple regional and global scales. Second, in this manuscript, the authors employ the LPPL model, which can expect the most probable day of the beginning of the crash by analyzing excessive stock price volatility.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

Keywords

Article
Publication date: 26 December 2023

Savannah (Yuanyuan) Guo, Beilei Mei, Yanchao Rao and Jianfang Ye

This study investigates the implementation challenges and economic consequences of the International Financial Reporting Standards 9 (IFRS 9) Financial Instruments.

Abstract

Purpose

This study investigates the implementation challenges and economic consequences of the International Financial Reporting Standards 9 (IFRS 9) Financial Instruments.

Design/methodology/approach

Descriptive evidence on equity asset reclassifications and estimated impairment using the new expected credit loss (ECL) model are presented. Multivariate analyses on the disposal of available-for-sale (AFS) and fund investment post-announcement and the value relevance of impairments to financial assets post-implementation are performed.

Findings

Over 60% of sample firms report inconsistent equity asset reclassifications and do not change estimated impairment using the new expected credit loss model. Firms also switch from AFS to equity fund investments post-announcement. Lastly, impairments to financial assets increase in value relevance to investors’ post-implementation, but only in financial institutions and firms with Big 4 auditors.

Originality/value

This study's findings suggest that IFRS 9 presents implementation challenges and changes equity investment strategies. They also indicate cross-sectional differences in firms' ability to effectively apply the new standards. This study is valuable for policymakers, business leaders, investors and academics.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

Keywords

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