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The purpose of this study is to enhance understanding labour supply dynamics of the UK workers by examining whether and to what extent there is state dependence in the labour supply at both the extensive and intensive margins.

A dynamic two-tiered Tobit model is applied to the first seven waves of Understanding Society: the UK Household Longitudinal Study. The model used accounts for observed and unobserved individual heterogeneity and serially correlated transitory shocks to labour supply to draw inferences on state dependence.

The results show that both observed and unobserved individual heterogeneity contributes to observed inter-temporal persistence of the labour supply of the UK workers, and the persistence remains after these factors are controlled for, suggesting true state dependence at both the extensive and intensive margins of the labour supply. The study also finds that at both the margins, the state dependence of labour supply is larger for females than for males and that for both genders the state dependence is larger for people with low education, mature aged workers and people with long-standing illness or impairment. The results also show that estimates from a conventional Tobit model may produce misleading inferences regarding labour supply at the extensive and intensive margins.

This study adds to the international literature on labour supply dynamics by providing empirical evidence for both the extensive and intensive margins of labour supply, while previous studies tend to focus on the extensive margin of labour force participation only. Also, unlike earlier studies that often focus on females, this study compares labour supply dynamics between males and females. The study also compares the estimates from the more flexible two-tiered Tobit model with that from the conventional Tobit model.

This paper aims to investigate the determinants of dynamic efficiency in the Spanish hotel industry. The study also aims to introduce a large number of variables potentially related to efficiency and performance measurement. In particular, it seeks to explore the association between efficiency scores and firm-specific factors (variables related to market conditions, business factors, audit variables, organisational forms and subsidiary variables).

In this study, the data envelopment analysis (DEA) double-frontier approach is used according to firm size in conjunction with non-parametric tests (Mann–Whitney U and Kruskal–Wallis tests), a dynamic Tobit regression model and a bootstrapping procedure. The tests are performed using 1,805 hotels from the years 2002 to 2011. This allows the authors to overcome several of the major limitations of previous papers, namely, the low number of observations, the static or cross-sectional analysis referring to a single period and the use of conventional DEA models, among others.

The results show significant differences in dynamic efficiency among Spanish hotel companies. In addition, the evidence suggests the levels of efficiency are related to the hotel's location, the hotel's size, internationalisation, the first source of the hotel's activity, audit service and management variables.

One limitation of the study is related to the input and output variables specified in the DEA model. The selection of inputs and outputs was based on data availability and the previous literature on hotel efficiency, but the results might change if the hotel sample and the selected input and output variables were changed. Another limitation is the availability of data on ownership structure and subsidiary variables for very small businesses.

The paper contributes to the tourism literature by offering new insights into hotel performance: dynamic efficiency evaluation and its main determinants. The paper presents strategic market implications for hoteliers, government decision-makers and destination management organisations.

The purpose of this paper is to analyse insidership vs outsidership, enriching the revisited Uppsala model with the resource-based view, transaction cost economics and internalisation theory. The authors also address empirical gaps affecting the role of dyadic business relationships (BRs) (customers/suppliers/research institutions/competitors) and business networks and their effect on international performance. Finally, the authors research whether insiders’ firm-specific advantages have a stronger effect on international performance than outsiders’.

The authors work with an unbalanced panel data set of 14,231 firm-observations (period: 2000-2010). First, the author use ANOVA models (with pooled and panel data) in order to test the Uppsala basics. Second, the authors refine the research through dynamic Tobit models.

The authors find that insiders perform significantly better than outsiders. When analysing the impact on international performance, the authors confirm that not only do dyadic BRs with customers or suppliers have a positive effect, but so do BRs with research institutions; however, business networks with customers and suppliers have a negative impact. Finally, when testing interactions, the results point at technological skills as an alternative means to overcome the liability of outsidership.

Prior studies on this topic have been broadly focused on testing the original Uppsala (1977) model. However, the authors advance it by reconciling the revisited Uppsala (2009) model with the main international business theories as well as testing and refining its content in line with Johanson and Vahlne’s guidelines.

This paper aims to identify the effect of social structure variables on the purchase of virtual goods. Using field data, it also tests whether their effects on a social networking service are dynamic.

To achieve the research objectives, the authors have applied the random effects panel Tobit model with actual time-series corporate data to explain a link between network structure factors and actual behavior on social networking services.

The authors have found that various network structure variables such as in-degree, in-closeness centrality, out-closeness centrality and clustering coefficients are significant predictors of virtual item sales; while the constraint is marginally significant, out-degree is not significant. Furthermore, these variables are time-varying, and the dynamic model performs better in a model fit than the static one.

The findings will help social networking service (SNS) operators realize the importance of understanding network structure variables and personal motivations or the behavior of consumers.

This study provides implications in that it uses various and dynamic network structure variables with panel data.

This paper aims to model the asset portfolio rebalancing decisions of Australian households experiencing a severe life event shock.

The paper uses household longitudinal data from the Household, Income, and Labour Dynamics in Australia (HILDA) survey since 2001. The major life events are serious illness or injury, death of a spouse, job dismissal or redundancy and separation from a spouse. The asset classes are bank accounts, cash investments, equities, superannuation (private pensions), life insurance, trust funds, owner-occupied housing, investor housing, business assets, vehicles and collectibles. The authors use both static and dynamic Tobit models to assess the impact and duration of impact of the shocks.

Serious illness and injury, loss of employment, separation and spousal death cause households to rebalance portfolios in ways that can have detrimental effects on long-term wealth accumulation through poor market timing and the incurring of transaction costs.

The survey results are only available since 2001, and the wealth module from which the asset data are drawn is self-reported and not available every year.

Relevant to policymakers working on the ongoing retirement of the “baby boomer” generation and for financial planners guiding household investment decisions.

Most research on shocks to household wealth concern a narrower range of assets and only limited shocks. Also, this is one of the few studies to use a random effects model to allow for unspecified heterogeneity among households.

The purpose of this study is to examine the operational efficiency of restaurants in a dynamic context, over the period 2011-2014. The paper also analyzes efficiency with respect to several frontiers and production technologies dependent on restaurant size. Finally, it provides a new perspective by examining financial and non-financial variables that can directly affect the efficiency of restaurant firms.

The study applies metafrontier data envelopment analysis (DEA) methodology to investigate differences in production technologies, dynamic Tobit regression models and bootstrap procedure.

The results reveal that operational efficiency in the restaurant industry is affected by firm size, showing that large restaurants perform better than medium-sized and small restaurants Moreover, the evidence suggests a link between the efficiency index and financial variables, such as credit ratings, probability of default or bankruptcy, leverage and cash flow, as well as a link with non-financial variables, such as type of auditor.

The strength of restaurant firms has practical implications for managers and entrepreneurs, linked to the investment possibilities and growth potential of companies in that industry.

This study provides exploratory insights into operational efficiency as well as restaurant efficiency determinants. Performance and operational efficiency are key factors to restaurant firms’ survival in the economies that have been most severely affected by the financial crisis. Furthermore, this study confirms the relevance of financial and non-financial variables, which are associated with firm efficiency in this industry.

This study aims to propose a hotel life cycle model and applies this model to examine the development of international tourist hotels (ITHs) in Taipei.

In this study, a two-stage approach is proposed to examine the life cycles of 20 ITHs in Taipei. First, we evaluate the overall and departmental efficiencies by using a two-layer bootstrap data envelopment analysis (DEA) model. Second, we divide the phases of the hotel life cycle by incorporating two objective indicators, namely, the average efficiency change rate (AECR) and the annual average efficiency (AE).

The results show not only that the efficiency scores derived from the bootstrap DEA model could help assess the performance of individual ITHs but also that the resulting AECR and AE could help to objectively classify the development of the hotels under study into the following phases: initial, growth, maturity and recession and regeneration phases.

The method proposed in, and the results obtained from, this study can provide the stakeholders of the ITHs in Taipei with an alternative to the existing subjective enterprise life cycle (ELC) model for identifying these ITHs’ stages of development using quantitative and objective criteria.

Existing hotel management research rarely focuses on hotel life cycle analysis, likely due to the adoption of subjective criteria by the conventional ELC model, which limits the practical application of the research. To improve on the conventional ELC model, our proposed quantitative approach involves dividing the hotel life cycle by employing two objective indicators and then empirically presenting the results.

The purpose of this paper is to examine the relationship between export performance and firm size.

Analysing a large sample of firms in the Vietnamese manufacturing sector, the authors employ a quantile regression approach to asses whether or not the relationship between exporting and firm size is dependent upon the extent of exporting that firms already undertake.

The authors find that increased firm size leads to higher export volumes. However, in sharp contrast to literature that largely focuses on considering a linear relationship between these two variables, the authors further find that the positive relationship becomes weaker as the extent of exporting activity increases.

In contrast to the earlier literature, a key novelty of the approach is that the authors obtain new insights in terms of establishing a nonlinear relationship between firm size and export performance in the case of Vietnamese manufacturing.

The study's purpose is to investigate the price volatility of four dairy commodities (skim milk powder [SMP], whole milk powder [WMP], butter and cheddar cheese) in the three most significant regional markets (EU, Oceania and US) in the international dairy market.

The study uses a panel-Generalized Autoregressive Conditional Heteroskedastic (panel-GARCH) modeling technique and data from January 12, 2001, to April 28, 2017.

Conditional volatility was higher during subperiods 2007–2010 and 2014–2016 when conditional cross-correlations between prices had the lowest values. In some cases, they were negative (i.e. between the EU and the USA and between Oceania and the USA for both butter and cheese). Interdependence across the three dairy markets, especially for SMP and WMP markets and for the butter market between EU and Oceania is also strongly evidenced. Interdependence is responsible for the spillover of price shocks across the three regions.

The data set used should be extended to cover the COVID-19 pandemic period.

This is the first study to use panel-GARCH to examine international dairy prices and volatility linkages, where previous studies mainly used multivariate GARCH models. Panel-GARCH allows a high-dimensional data series (i.e. 12 dairy prices) and generates potential efficiency gains in estimating conditional variances and covariances by incorporating information about heterogeneity across markets and considering their interdependence.

The purpose of this paper is to enhance the understanding of labour force participation behaviour of married Australian women, with a focus on identifying the sources of observed inter-temporal labour force participation persistence.

A dynamic Probit model is applied to the Household, Income and Labour Dynamics in Australia (HILDA) Survey, a national representative panel survey of Australian households. The model used accounts for observed and unobserved individual heterogeneity and serially correlated transitory shocks to labour supply.

The results show that both observed and unobserved individual heterogeneity contributes to observed inter-temporal persistence of labour force participation of married Australian women, but the persistence remains even after controlling for these factors. It is also found that failing to control for serially correlated unobserved transitory shocks would lead to underestimation of genuine state dependence of labour force participation; and that state dependence of labour force participation varies with age, education, health, immigration status and the number of children under the school age.

This study adds to the international literature on labour force dynamics of women by providing Australian empirical evidence and through a flexible modelling framework. The result that there exists genuine positive state dependence in married Australian women’s labour force participation suggests that policy intervention that increases married women’s labour supply would have a long-lasting effect.