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The authors propose novel tests for the detection of Markov switching deviations from forecast rationality. Existing forecast rationality tests either focus on constant deviations from forecast rationality over the full sample or are constructed to detect smooth deviations based on non-parametric techniques. In contrast, the proposed tests are parametric and have an advantage in detecting abrupt departures from unbiasedness and efficiency, which the authors demonstrate with Monte Carlo simulations. Using the proposed tests, the authors investigate whether Blue Chip Financial Forecasts (BCFF) for the Federal Funds Rate (FFR) are unbiased. The tests find evidence of a state-dependent bias: forecasters tend to systematically overpredict interest rates during periods of monetary easing, while the forecasts are unbiased otherwise. The authors show that a similar state-dependent bias is also present in market-based forecasts of interest rates, but not in the forecasts of real GDP growth and GDP deflator-based inflation. The results emphasize the special role played by monetary policy in shaping interest rate expectations above and beyond macroeconomic fundamentals.

The purpose of this chapter is to develop and review a set of indicators that measure the level of sustainable performance achieved by individual restaurants and to provide a means by which all restaurant operations can implement sustainable practices. The set of indicators, derived from extensive literature review, were tested on four London restaurants purporting to be sustainable. Results show that these indicators can be used effectively by the restaurants wishing to improve their sustainable performance. In addition, by using sustainable indicators the study aims to develop a theoretical concept for future improvement in the sustainable management of restaurant operations.

In this chapter, using a dual approach based on managerial and legal perspectives, we examine franchisee attitudes regarding online sales in franchise networks to better understand their views of the costs and benefits of e-commerce in a franchise network. We thus explore the following research questions from a franchisee perspective: What are franchisees’ attitudes regarding online sales?; Are online sales viewed as complementary or competing sales for physical stores?; What about the opening of a franchisor’s website?; and What about the opening of a franchisee’s website? We also analyze how several different e-commerce options available to franchisors impact franchisee incentives and how they would be treated under European Union competition law.

The empirical research is based on the conduction and analysis of 46 in-depth interviews with franchisees in the retail and service industries in the French market.

We find that online sales in franchise networks raise important questions for the franchisees, and for the franchisors as well. E-commerce has to be integrated into the development strategies of franchise networks. Franchisors should facilitate the online sales practices of their franchisees in order to avoid potential conflicts with them or among the franchisees themselves, thereby maintaining the control necessary to ensure healthy network growth. Moreover, franchisors should pay attention to the sharing of Internet sales with its franchisees.

Our chapter contributes to the stream of franchising literature dealing with the use of Internet in franchise networks. Moreover, it can be viewed by franchisors, franchise experts, franchisees, and franchisee candidates as an overview of issues linked to online sales in franchise networks. It also highlights best practices when having a multichannel strategy.

As people age they tend to do more local journeys, shown by a lower mean trip length, from around 50 years onward. One reason for this is increased difficulty with mobility as people age; around one-third of those aged over 70 have mobility difficulties. Physiological changes in later life that have consequences for travel include deterioration of hearing and seeing, decreased skeletal muscles and reduced mobility of joints. Another reason for the decrease seen in many western countries is retirement from work, with many fewer trips made for commuting purposes. However, there are increases in shopping, personal business and leisure trips when commuting is reduced. That said, older people would still like to make more discretionary journeys in later life, especially to visit family and friends more often. A review of literature suggests how important mobility is for wellbeing through social interaction and being involved in activities outside the home.

The subject of resale pricing is a hot topic in franchising, due to its links with chain homogeneity and franchisee autonomy. The franchisee is bound by current legislation and regulations, in addition to respecting the franchise contract clauses, to the extent that they are lawful, and potentially opposing contentious professional practices. Focusing on resale prices, we cover these three perspectives, that is, legal, contractual, and professional constraints, using a dual approach based on managerial and legal perspectives and illustrating our arguments using examples from European and French cases.

We illustrate our arguments using examples from European and French cases.

We pointed out that the ban on the practice of imposed resale prices presents several advantages (e.g., integrity of franchise chains, chain’s commercial dynamism).

Our paper contributes to the stream of franchising literature dealing with resale prices.

Our paper can be viewed by franchisors, franchise experts, franchisees, and franchisee candidates as a synthesis of the impact of European and French regulations on resale price-based practices to be adopted in franchise chains. It also highlights practices to be avoided in order to prevent potential conflicts.

We use a dual approach based on managerial and legal perspectives to explore resale prices in the context of franchising.

Digital transformation, and the use and pervasiveness of social media in particular, have changed society. Politicians and political institutions increasingly use social media channels; hence political communication is changing as well. Continuous availability through smartphones and other devices has not only led to more information exchange between political and public actors, but also lobbyists, who classically communicate remotely, are also starting to respond to these changes and use tools such as Twitter, Facebook and the like. Against this background, this study provides insights into the effects of digital transformation, especially social media, on lobbying in Germany. Data were gathered from 15 interviews and seven focus groups with lobbyists and political decision makers in Berlin. The analysis shows that digital lobbying operates within a novel logic, due to the public context of social media. It is the human element that becomes the decisive factor in digital lobbying due to the social aspect in social media. Accordingly, investigating digital lobbying is critical to establish implications for theory and for practice.