Details the methods used by European airport authorities to segment their consumer base. It will be argued that macro‐level factors, over which the industry has no…
Details the methods used by European airport authorities to segment their consumer base. It will be argued that macro‐level factors, over which the industry has no control, have compelled airports to expand their commercial activities. As a consequence, airport authorities have been forced to adopt a more marketing‐orientated approach. To fully capitalise on the opportunities afforded to them, a range of segmentation categories have been developed that are specific to an airport environment. It will be argued that authorities act as “gatekeepers” and use this unique form of a priori segmentation to determine the most suitable tenant mix for their airport. Once operating within the airport, the retailers themselves also undertake a further series of segmentation strategies based either on a priori principles or on “micro‐level” techniques.
Airport retailing is an under‐researched area of study. It is also a sector displaying significant year‐on‐year growth. This paper examines the structure of the supply…
Airport retailing is an under‐researched area of study. It is also a sector displaying significant year‐on‐year growth. This paper examines the structure of the supply chain within airport retailing and the main factors that differentiate it from its downtown counterpart. It describes the structure and operation of the supply chain within European airport retailing and the main sources of power that retailers and suppliers draw on in the negotiating process. The paper concludes that, relative to other retail sectors, relationships within the airport retailing supply chain are technologically unsophisticated and based on conventional market exchange principles.
Airport retailing has undergone a series of significant developments over the last two decades and now occupies a central position in the revenue generating strategies of…
Airport retailing has undergone a series of significant developments over the last two decades and now occupies a central position in the revenue generating strategies of many airport authorities. This paper identifies briefly the factors that have prompted these developments before examining in detail how these changes have affected the role of buying within airport retailing. It outlines the buying and negotiating process common in many European airports and details the methods used for both buyer and supplier evaluation. It concludes that airport retailers have experienced a significant increase in their market power and the process of supplier negotiation has consequently changed to reflect this.
The study focuses on primarily big U.S. firms' joint venture activities with the Soviets after the break‐up of the former Soviet Union. It examines U.S.‐Soviet joint…
The study focuses on primarily big U.S. firms' joint venture activities with the Soviets after the break‐up of the former Soviet Union. It examines U.S.‐Soviet joint ventures in the following sectors: oil and gas, soft drinks, consumer products, gold mining, aircraft engines, telecommunications, and software. Data were collected by mail and interviews in order to identify the obstacles in the negotiation and operational stages of the venture. Furthermore, business and governmental organisations' recommendations as to whether or not U.S. firms should engage in joint venture activities in the Commonwealth of Independent States (CIS) were elicited.
The purpose of this paper is to examine whether superior risk-adjusted returns can be generated using monthly covered call option strategies in large capitalized…
The purpose of this paper is to examine whether superior risk-adjusted returns can be generated using monthly covered call option strategies in large capitalized Australian equity portfolios and across varying market volatility conditions.
The authors construct monthly in-the-money (ITM) and out-of-the-money (OTM) S&P/ASX 20 covered call portfolios from 2010 to 2015 and use standard and alternative performance measures. An assessment of variable levels of market volatility on risk-adjusted return performance is also carried out using the spread between implied and realized volatility indexes.
The results of this paper show that covered call writing produces similar nominal returns at lower risk when compared against the standalone buy-and-hold portfolio. Both standard and alternative performance measures (with the exception of the upside potential ratio) demonstrate that covered call portfolios produce superior risk-adjusted returns, particularly when written deeper OTM. The 36-month rolling regressions also reveal that deeper OTM portfolios deliver greater risk-adjusted returns in the majority of the sub-periods investigated. This paper also establishes that volatility spread variation may be a driver of performance for covered call writing in Australia.
The authors suggest that deeper OTM covered call strategies based on large capitalized portfolios create value for investors/fund managers in the Australian stock market and can be executed in volatile market conditions. Such strategies are particularly useful for those seeking market neutral asset allocation and less risk exposure in volatile market environments.
This article highlights key aspects of capital management, including capital planning, capital budgeting, capital financing, decision making and capital spending outcomes. We provide a background discussion of public sector capital management, followed by a summary of the articles that comprise this symposium. Combined, these articles illustrate the complexity of and challenges to capital management at the state and local government levels. We discuss common themes that emerge from reading these articles as a collective symposium, including: (1) modest progress in applying and empirically testing theoretical frameworks; (2) the variety of actors and institutions; and (3) the deteriorating condition and poor performance of public infrastructure. We use the articles to illustrate gaps in the research and offer suggestions for future research on capital management theory and practice.
Archive footage is now a staple of much cinematic and broadcast production. This chapter explores some of the ways in which archival material has been recycled and…
Archive footage is now a staple of much cinematic and broadcast production. This chapter explores some of the ways in which archival material has been recycled and considers some of the tensions between filmmakers, archivists, and audiences throughout the process of research, production, and screening. It considers some of the controversies associated with the repositioning of material in short-form, narrative and documentary filmmaking, particularly in relation to content that was never intended for exhibition in the public sphere. Drawing upon Benjaminian ideas of accessing authenticity in a form that has been reproduced, it considers the responsibility of both filmmaker and viewer in critiquing moving image content that has borrowed, self-consciously or surreptitiously, from earlier filmic forms. It concludes by making recommendations for an ethical approach to recycling archival material in research contexts that are pertinent to the burgeoning field of academic creative practice, with a particular focus on the stakeholders involved and a reasonable contextual positioning of the source material in its remediated form.
The Central Bank of Argentina began its activities in May 1935 surrounded by controversy. The Bank was created as a result of a mission led by the expert from the Bank of…
The Central Bank of Argentina began its activities in May 1935 surrounded by controversy. The Bank was created as a result of a mission led by the expert from the Bank of England, Sir Otto Niemeyer. The foreign involvement in the origins of the bank was not welcome to a good part of the Argentine society. Finally, the project for a central bank approved by the Argentine Congress was not the one proposed by Sir Otto Niemeyer, but a version of it that contained crucial modifications introduced by Raúl Prebisch. The aim of this work is to highlight Prebisch’s ideas on monetary and banking matters by analyzing the differences with the ideas of Sir Otto Niemeyer around monetary policy and the characteristics of the future Central Bank of Argentina. Even if there were almost no direct debates between them, there were different visions and indirect contentions that can be traced in the writings of both, which on the side of Prebisch were published in the Revista Económica del Banco de la Nación Argentina and some government documents, and on Niemeyer’s side can be traced in some writings and correspondence regarding his visit to Argentina, held in the archives of the Bank of England.
The purpose of this paper is to compare public preferences for investment and spending on non-automobile infrastructures (mass transit and bicycling) to preferences for…
The purpose of this paper is to compare public preferences for investment and spending on non-automobile infrastructures (mass transit and bicycling) to preferences for new roads and the repair of current highways. The study explores the factors that explain preferences for non-automobile infrastructure using a three-factor model including self-interest (personal transportation benefits), concern for community-wide benefits (political beliefs), and concern for the economic impact. The study uses a case study of the urban context of the Hampton Roads region of Southeastern Virginia (USA).
The analysis uses data from a 2013 telephone survey of urban residents in the Hampton Roads area. Survey respondents were asked to identify their two investment priorities from four options: repairing existing roads, bridges, and tunnels; constructing new or expanding roads, bridges, and tunnels; expanding mass transit; and expanding bicycle routes and improving bike safety.
Repairing existing highway infrastructure is the most popular spending priority (66 percent of residents). There is as much support (46 percent) for investing in non-automobile infrastructure as for investing in new roads, bridges, and tunnels. Significant predictors of support for non-automobile infrastructure, using the three-factor model, are: length of commute time, self-identification as liberal, use of light rail, and a belief that light rail contributes to economic development.
The study examines public preferences for both non-traditional and traditional transportation infrastructure investments. It highlights the factors that contribute to public support for different transportation spending options.