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The present paper aims to analyze how the performance of hotels located on the Spanish Mediterranean coast (peninsular and Balearic) and Canary coast is affected by the degree of business agglomeration in tourist districts. If agglomeration affects hotels positively, then the externalities generated in tourist districts will be relevant when locating an establishment. Otherwise, the reason why hotels group together geographically would be more related to the suitability of beaches as a tourist destination. The study also analyzes the impact that regions or autonomous communities have on hotel performance.

The hypotheses are tested by multiple linear regression in which hotel profitability acts as the dependent variable which can be explained by independent variables such as the greater or lesser agglomeration of tourist companies at the destination and the autonomous region where the hotel is located.

The results show that hotels situated at destinations with a higher degree of agglomeration are less profitable, probably due to the greater rivalry that exists among nearby competitors. However, in accordance with the theory of tourist districts, one could expect hotels located at destinations with a higher degree of agglomeration to be more profitable because of the greater externalities generated within the district. In this sense, it is possible that hotel location decisions were based more on the natural advantage model, where firms look for specialized inputs like beach or climate, than on production externalities models.

It was necessary to work with secondary information sources which contain no data about RevPar (revenue per available room) or GopPar (gross operating profit per available room), the hotel profitability measures most often used in research studies.

The paper could be useful for hotel companies, when they are deciding on a location, and for public administrations.

The present paper is original for several reasons. First, it is one of the first studies which applies the theory of industrial districts to the tourism sector, a line of research which is still in its early stages of development. Furthermore, the ISTAT methodology is applied for the first time to the identification of Spanish tourist districts. Also, various studies relate the degree of agglomeration to hotel profitability, but none so far have used the degree of company agglomeration within a tourist district, linking it to profitability.

This paper reviews one of the crucial issues in the recent growth literature concerning the hypothesis of cross country convergence of levels and growth rates of income per capita implied by the neo‐classical growth model, both in the Solow‐Swan and Rampsey‐Cass‐Koopmans versions. The alternative endogenous growth models, consistent with permanent income inequality, are considered. Convergence to a common income level versus divergence is discussed from a theoretical point of view. Then, empirical tests of the convergence property are presented. What emerges is that Barro type regressions and their findings about “conditional” convergence are questionable and cannot be used to give a definitive response on this issue.

The purpose of this paper is to address three main problems resulting from uncertainty in information security management: dynamically changing security requirements of an organization; externalities caused by a security system; and obsolete evaluation of security concerns.

In order to address these critical concerns, a framework based on options reasoning borrowed from corporate finance is proposed and adapted to evaluation of security architecture and decision making for handling these issues at organizational level. The adaptation as a methodology is demonstrated by a large case study validating its efficacy.

The paper shows through three examples that it is possible to have a coherent methodology, building on options theory to deal with uncertainty issues in information security at an organizational level.

To validate the efficacy of the methodology proposed in this paper, it was applied to the Spridnings‐och Hämtningssystem (SHS: dissemination and retrieval system) system. The paper introduces the methodology, presents its application to the SHS system in detail and compares it to the current practice.

This research is relevant to information security management in organizations, particularly issues on changing requirements and evaluation in uncertain circumstances created by progress in technology.

This paper’s main objective is to expand the demand-driven strategic field by developing a model where endogenization of consumers’ preferences for clean(er) products becomes the driver of the firm green corporate social responsible (GCSR) profit maximization behavior.

The model proposes that in undifferentiated markets, firms using a conventional technology manage production-related negative externalities via information asymmetries. In turn, when consumer socially responsible individuals (CnSR) discover the nature of the information asymmetries, they then reveal their preferences. The building block of the model is that CnSR derive value both from intrinsic as well as extrinsic product features, and derive negative satisfaction from the production negative externalities. In turn, CnSR preferences offer a higher willingness to pay for a combined intrinsic (private good and direct utility) and extrinsic (public good and feel good–do good utility) product.

The model demonstrates that the firm’s GCSR behavior is a technological-driven process directly affecting the extrinsic component of the product through the development of a safe technology, and exclusively targeting CnSR type of consumers. The corollary of the model is that for the firm pursuing a GCSR behavior, the development of a competitive advantage with higher firm performance leads to profit maximization when exclusively serving the GCSR segment of the market. Thus, GCSR is the result of unusual innovation efforts.

This paper presents a model that expands the field of strategic management through the demand-driven incorporation and respective modeling. To the best of the author’s knowledge, this is the first model to explicitly develop this relationship in this format.

Little is known about how subsidies enhance both collaborative and opportunistic behaviours within subsidized industry–university partnerships, and how partners' behaviours influence the intellectual capital dynamics within subsidized industry–university. Based on these theoretical foundations, this study expects to understand intellectual capital’s (IC's) contribution as a dynamic or systemic process (inputs?outputs?outcomes) within subsided university–industry partnerships. Especially to contribute to these ongoing academic debates, this paper analyses how collaborative and opportunistic behaviours within industry–university partnerships influence the intellectual capital dynamics (inputs, outputs and outcomes) of the subsidized projects.

By combining two sources of information about 683 Mexican subsidized industry–university partnerships from 2009 to 2016, this study adopted the structural equation modelling (SEM) to analyse the effect of collaborative vs opportunistic behaviours in intellectual capital dynamics within subsidized projects.

Our results show three tendencies about the bright/dark side of subsidies within the Mexican industry–university partnerships. The first tendency shows how collaborative behaviours positively influence intellectual capital dynamics within subsidized industry–university partnerships. The second tendency shows how opportunistic behaviours influence intellectual capital impacts (performance) and return to society (job creation). The third tendency shows how initial inputs of subsidized projects generate some expected socio-economic returns that pursued the subsidies (mediation effect of intellectual capital outputs).

This research has three limitations that provide a future research agenda. The main limitations were associated with our sources of information. The first limitation, we did not match subsidized partnerships (focus group) and non-subsidized partnerships (control group). A qualitative analysis should help understand the effect of subsidies on intellectual capital and partnerships' behaviours. The second limitation, our measures of collaborative/opportunistic behaviours as well as intellectual capital dynamics should be improved by balancing traditional and new metrics in future research. The third limitation is that in emerging economies, the quality of institutions could influence the submission/selection of subsidies and generate negative externalities. Future research should control by geographical dispersion and co-location of subsidies.

For enterprise managers, this study offers insights into IC dynamics and behaviours within subsidized industry–university partnerships. The bright side of collaboration behaviours is related to IC's positive impacts on performance and socio-economic returns. The dark side is the IC appropriation behind opportunistic behaviours. Enterprise managers should recognize the relevance of IC management to capture value and reduce costs associated with opportunistic behaviours. For the university community, this study offers potential trends adopted by industry–university partnerships to reinforce universities' innovative transformation processes. Specifically, these trends are related to the legitimization of the university's role in society and contribution to regional development through industry–university partnerships' outcomes. Therefore, university managers should recognize the IC benefits/challenges behind industry–university partnerships.

For policymakers, the study indirectly shows the role of subsidies for generating/reinforcing intellectual capital outcomes within subsidized industry–university partnerships. The bright side allows evaluating the cost-benefit of this government intervention and the returns to priority industries. The dark side allows for understanding the need for implementing mechanisms to control opportunistic behaviours within subsidized partnerships. Accordingly, policymakers should understand the IC opportunity-costs related to industry–university partnerships for achieving the subsidies' aims.

This study contributes to three ongoing academic debates in innovation and management fields. The first debate about how intellectual capital dynamic is stimulated and transferred through the collaborative behaviour within industry–university partnerships in emerging economies. The second debate is about the “dark side” of partnerships stimulated by public programmes in emerging economies. The third debate is about the effectiveness of subsidies on intellectual capital activities/outcomes.

This paper seeks to review the state of knowledge to this much talked‐about paradigm, first made famous by Porter (1990). Clusters are a striking and common feature in today’s economy. Nonetheless, this phenomenon is not exactly new and has been the object of attention from a wide variety of social scientists for much of this century. In the last ten years, this phenomenon has attracted renewed interest from academics, practitioners, and the British Government – who have become aware of its central importance in competitive strategy. An understanding of clusters adds an important dimension to the more commonly debated role of personal contact networks in the success of entrepreneurial small business.

The purpose of this paper is to theorise on the nature of property management broadly understood as resource management and demonstrate the actual and potential contribution of innovative property management to sustainable development.

The approach is analytical and backed by real life examples, using concepts of property rights informed by Coasian neo‐institutional economics and Yu's ideas on the Schumpeterian process in innovation.

There is a fast spread of gated communities in the Pearl River Delta and some private shopping centres provide public facilities and entertainment as a public relation method.

The transformation of negative externalities into positive ones is the crux to achieve win‐win solutions to property management for sustainable development.

A good property manager does not simply perform the role of a passive housekeeper or management fee collector. S/he is, above all, an innovator who applies updated technology and concepts with great sensitivity to the externalities generated by or affecting the resource s/he manages.

This is the first paper that defines for property management a research agenda anchored in Coasian economics and demonstrate the actual and potential contribution of property management.

The decision to engage in entrepreneurial activities is grounded in personal characteristics (motivation) and external environmental factors. One of the main external factors might be the structure of the regional economic activity. Does a high share of the public sector affect positively regional entrepreneurship or vice versa? Does the diversity in regional economic activity is conducive for entrepreneurial development or the regional comparative advantage as expressed by spatial economies of scale offering more entrepreneurial opportunities? Even though economic analysis has extensively examined the impact of the public sector size on the overall national economic activity (the crowding out effect), this impact has not been into scrutiny at regional level on microeconomic issues, such as the decision to engage in entrepreneurial activities. The authors further investigate the relation between diversity and entrepreneurship at regional level. The paper aims to discuss these issues.

This paper uses data for 264 NUTS II EU regions. The time span of the data set is 1999-2008. The paper applies panel data analysis to explain the cross-time cross-section variation of the dependent variable: the self-employment share in total employment at regional level. In order to measure the existence of crowding out from public sector to regional entrepreneurship, the authors use the share of regional public sector gross value added over total regional gross value added. The diversity of the regional economic activity is measured by the Herfindahl-Hirschman Concentration Index across sectors.

The findings of the paper show that there is a negative correlation between public sector share and regional entrepreneurship. Hence, as at national level, the increase in the role of the public sector in the regional economic system crowds out regional entrepreneurship. The second finding indicates that the impact of the diversity of the regional economic activity on regional entrepreneurship is inconclusive.

The originality of this paper is due to the fact that the role of the public sector on regional economic phenomena, such as entrepreneurship, is examined for the first time. Also, the investigation of the relationship between diversity (vs localization economies) and entrepreneurship is performed using data for the full sample of regions of the European Union. The findings of the paper have significant policy implications since they provide useful inputs for the design of the regional development policy. The reduction of the public sector at regional level may contribute in entrepreneurial development and finally in regional economic growth and prosperity. Besides, the regional industrial policy should focus on the exploitation of the spatially constraint economies of scope in the framework of the Triple Helix model.

The purpose of this study is to analyze how The Competitive Advantage of Nations project led by Professor Michael E. Porter has opened up new perspectives on competitiveness of nations and firms for scholars, practitioners and policymakers. With the publication of The Competitive Advantage of Nations (CAON) book in 1990, Professor Michael E. Porter opened up a whole new perspective on competitiveness and clusters, including both new research avenues and new perspectives for practitioners and politicians. By questioning the traditional, more static and macroeconomic, views on competitiveness, he opened up for a new model of microeconomic drivers of long-run firm competitiveness. The new conceptual model, the Diamond model, pointed to the importance of healthy rivalry and dynamic clusters, in the proximate firm environment, as central to our understanding of how firms build sustainable competitive advantages in global markets.

Literature review and conceptual.

To distinguish between short-term, more static, and long-term, more dynamic competitiveness of firms, and the competitiveness of nations and regions, the paper proposes a conceptualization into three interrelated concepts: competitiveness and innovativeness of firms, and attractiveness of nations and regions.

This paper summarizes 40 years of Professor Porter’s seminal research with a focus on the CAON project that began with the 1990 book on The Competitive Advantage of Nations. The paper proposes three interrelated concepts to cover issues of competitiveness: competitiveness (firm’s static advantages), innovativeness (firm’s dynamic advantages) and attractiveness (national/regional advantages).

This paper aims to investigate the impact of knowledge spillover effects (KSE) on employment levels using a sample of 245 Italian Innovative startup companies created as a result of the legislative changes of Law Decree 179/12 introduced in Italy in 2012.

This study uses a parsimonious model with the employment level as the dependent variable. The paper tests for the impact that the measures of industry competition, specialization and diversity have on the level of employment in the Innovative Startup sector in Italy. The data uses a sample of 245 firms, across 20 geographic regions in Italy for three economic sectors at the 2-Dig NAICS classification.

The empirical results provide evidence in favor of regional specialization as the main force to create and transfer knowledge resulting in increased employment; while higher levels of competition and a more diverse regional production bases result in lower firm employment levels. Employment levels for these firms are also time-dependent, and thus mainly determined at the time of the firm’s creation. This study also found a lack of technological convergence across regions, that are inherent regional differences are not bridged by knowledge spillover effects.

This paper is based on a sample of Italian Innovative Startups and consequently, further research with a potentially larger sample and, perhaps, a sample across countries could also shed some light on the issues relating to KSE and their effects on employment generation and firm formation.

From a practical point of view, the results indicate that regional disparity and limited transmission of KSE across regions remain an impediment to the flow of knowledge. This in turn may limit the development of entrepreneurial activities and further development of new firms. Practical implications regarding knowledge management indicate that firms face time and spatial challenges when developing, transferring and acquiring knowledge. In sum, the evidence points out in favor of existent and persistent regional heterogeneity in terms of economic and technological specialization as sources of employment.

This research adds to the empirical evidence focusing on the effects of knowledge spillover effects in the Innovative Startup segment of the economy. This research highlights the applicability of knowledge spillover effects accounting for levels of industry competition, specialization and diversity. We also provide a measure of cluster formation and concentration at the sectoral and regional levels. Thus, the research provides a better understanding under which conditions knowledge is more likely to have positive or negative effects on employment generation.