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Article
Publication date: 10 February 2018

Jörn Obermann and Patrick Velte

This systematic literature review analyses the determinants and consequences of executive compensation-related shareholder activism and say-on-pay (SOP) votes. The review covers…

Abstract

This systematic literature review analyses the determinants and consequences of executive compensation-related shareholder activism and say-on-pay (SOP) votes. The review covers 71 empirical articles published between January 1995 and September 2017. The studies are reviewed within an empirical research framework that separates the reasons for shareholder activism and SOP voting dissent as input factor on the one hand and the consequences of shareholder pressure as output factor on the other. This procedure identifies the five most important groups of factors in the literature: the level and structure of executive compensation, firm characteristics, corporate governance mechanisms, shareholder structure and stakeholders. Of these, executive compensation and firm characteristics are the most frequently examined. Further examination reveals that the key assumptions of neoclassical principal agent theory for both managers and shareholders are not always consistent with recent empirical evidence. First, behavioral aspects (such as the perception of fairness) influence compensation activism and SOP votes. Second, non-financial interests significantly moderate shareholder activism. Insofar, we recommend integrating behavioral and non-financial aspects into the existing research. The implications are analyzed, and new directions for further research are discussed by proposing 19 different research questions.

Details

Journal of Accounting Literature, vol. 40 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 1 December 2000

G.G. Chowdhury and Sudatta Chowdhury

A number of digital libraries have been set up in the course of various research and development activities in different parts of the world during the last few years. How do these…

1504

Abstract

A number of digital libraries have been set up in the course of various research and development activities in different parts of the world during the last few years. How do these digital libraries fair in terms of information retrieval features? This paper looks into this question by reviewing the information retrieval features of 20 digital libraries chosen from around the globe. The first part of the paper briefly describes the features of the chosen digital libraries in terms of their nature and content. The second part looks into the information retrieval features of each digital library. Unique features of some digital libraries have been indicated. Major areas of research that would improve the information retrieval features of the future digital libraries have been indicated.

Details

Program, vol. 34 no. 4
Type: Research Article
ISSN: 0033-0337

Keywords

Article
Publication date: 13 July 2019

Daniel A. Street and Dana R. Hermanson

This paper reviews academic literature related to the consequences that outside directors and boards may face in the wake of earnings restatements and suggests directions for…

Abstract

This paper reviews academic literature related to the consequences that outside directors and boards may face in the wake of earnings restatements and suggests directions for future research. We examine loss of board seats; recruitment of new directors; proxy recommendations and shareholder support; pre-emptive director departures; director wealth effects; director reputation, litigation, and sanction risks; international evidence; and legal proposals for reform. The overall picture that emerges from the literature is that directors’ primary risk in the wake of earnings restatements is loss of board seats, in part through adverse proxy advisor recommendations and reduced shareholder support. Directors typically face little risk of legal liability or SEC sanctions, and some directors pre-emptively leave a problem company’s board and reduce their loss of interlocked board seats. Some legal scholars have called for director liability to be increased so as to promote more vigilant board oversight. Companies often focus on increasing the independence of the board in the wake of a restatement in an effort to repair organizational reputation. While researchers have revealed a host of important findings to date, much more can be learned about the effects of restatements on outside directors and boards.

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Journal of Accounting Literature, vol. 43 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 25 August 2017

Candice T. Hux

This synthesis covers academic research on the use of valuation, tax, information technology (IT), and forensic specialists on audit engagements. The importance and role of…

Abstract

This synthesis covers academic research on the use of valuation, tax, information technology (IT), and forensic specialists on audit engagements. The importance and role of specialists on audit engagements have recently increased, and specialist use has garnered significant attention from regulators and academics. Given the PCAOB’s (2017b) recent proposal to revise auditing standards regarding specialists’ involvement, it is important to review the specialist literature as a whole. By integrating research across these four domains, I identify commonalities and differences related to: (1) factors associated with the use of specialists on audit engagements (including the nature, timing, and extent of use); (2) factors impacting auditors’ interactions with specialists (including specialists contracted by the auditor or management); and (3) outcomes associated with the use of specialists. This integrated analysis of the specialist literatures shows variation in the use of specialists, and various factors affecting both if and how they are involved and whether auditors use specialists internal or external to the audit firm. Additionally, research has sometimes (but not always) linked specialist involvement to higher audit quality. The commonalities and areas of variation identified are informative to audit research and practice, particularly as regulators and audit firms look to improve the quality of audits using specialists. Throughout the synthesis, I also provide a number of directions for future research.

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Journal of Accounting Literature, vol. 39 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 1 January 1988

Franco F. Ferrario

‐ One of the consequences of the present long period of economic depression, which has been felt with particular severity by most Third World countries, has been a necessary…

Abstract

‐ One of the consequences of the present long period of economic depression, which has been felt with particular severity by most Third World countries, has been a necessary critical reassessement of many development strategies. Especially in Africa, the balance sheet between efforts and results has not been very encouraging. The massive industrialization programmes and the large projects of the last three decades have neither helped to achieve a more competitive production nor have introduced widespread prosperity, as hoped. Gradually the accent is now shifting toward new “soft options”, one of which is tourism. We remember that only 15–20 years ago many African governments or international development agencies were still considering tourism as a marginal economic activity, to be left to poor nations without much prospects for industrialization. Since then much has changed and ‐ especially in the present post‐industrial economies ‐ tourism and the whole gamut of other leisure industries have become one of the most dynamic fields of expansion, even in the developing world.

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The Tourist Review, vol. 43 no. 1
Type: Research Article
ISSN: 0251-3102

Article
Publication date: 1 March 1984

Jafar Jafari

Fieldwork is one of the hallmarks of anthropology. Almost all students of anthropology have geographical and cultural specializations, ranging from a small group to a nation…

Abstract

Fieldwork is one of the hallmarks of anthropology. Almost all students of anthropology have geographical and cultural specializations, ranging from a small group to a nation. Their interest areas are often identified or marked by real or putative boundaries; and it is within these boundaries that anthropologists have “founded” their own villages and tribes — “my village”, “my tribe.”

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The Tourist Review, vol. 39 no. 3
Type: Research Article
ISSN: 0251-3102

Article
Publication date: 31 January 2018

Tamer Elshandidy, Philip J. Shrives, Matt Bamber and Santhosh Abraham

This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two principal…

1054

Abstract

This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two principal themes: the incentives for and/or informativeness of risk reporting. Our review demonstrates areas of significant divergence in the literature specifically: mandatory versus voluntary risk reporting, manual versus automated content analysis, within-country versus cross-country variations in risk reporting, and risk reporting in financial versus non-financial firms. Our paper identifies a number of issues which require further research. In particular we draw attention to two: first, a lack of clarity and consistency around the conceptualization of risk; and second, the potential costs and benefits of standard-setters’ involvement.

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Journal of Accounting Literature, vol. 40 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 1 June 1999

H.R. Thomas, H.T. Yang and Y. He

This paper presents a parallelised substructure based finite element approach to the solution of fully coupled heat, moisture and deformation problems in partially saturated soil…

Abstract

This paper presents a parallelised substructure based finite element approach to the solution of fully coupled heat, moisture and deformation problems in partially saturated soil. A numerical model, based on previous work, is developed so that it is capable of solving larger and more complex problems with limited computing resources. The algorithm also offers the advantage of the strategy for further development within the context of parallel computing. A refinement to the standard substructure algorithm has been introduced for the matrix condensing procedure employed at the sub‐structure level, to improve computational efficiency. A numerical simulation is then performed using a parallel computer code for the fully coupled analysis, operating on a MIMD parallel computer (the Paramid). The benefits of the new approach are thus displayed. As a check on the accuracy of the new method, good correlation with other independent solutions are observed. Finally, the computing work performed indicates that the algorithm is yielding encouraging results, providing confidence in the further development of the approach.

Details

Engineering Computations, vol. 16 no. 4
Type: Research Article
ISSN: 0264-4401

Keywords

Article
Publication date: 1 April 1986

Michal Polácek

In the course of development of human communities towards industrially advanced societies of today, there have been changes not only in economic conditions in the majority of…

Abstract

In the course of development of human communities towards industrially advanced societies of today, there have been changes not only in economic conditions in the majority of fields of human activity but also in the ways of providing for food, which went hand in hand with changes in living conditions. Large‐scale industrial production has brought about major changes in the way of life of the population. The development of industrial agglomerations results in a growing number of city dwellers, most of whom have no chance of producing foodstuffs of their own in kind. The distance between residential and industrial areas has been growing, the number of employed women has risen considerably. These are but a few factors affecting the way of boarding, particularly in households.

Details

The Tourist Review, vol. 41 no. 4
Type: Research Article
ISSN: 0251-3102

Article
Publication date: 15 August 2023

Alastair M. Morrison, Sudin Bag and Kousik Mandal

This paper aims to investigate the effects of virtual reality experiences (VREs) and emotions on holiday destination visit intentions by applying the stimulus-organism-response…

Abstract

Purpose

This paper aims to investigate the effects of virtual reality experiences (VREs) and emotions on holiday destination visit intentions by applying the stimulus-organism-response (S-O-R) framework. It also examined the role of amateur photography as a moderator in the relationship between VREs, emotions and visit intentions.

Design/methodology/approach

Primary data were collected through a structured survey questionnaire administered in India, and structural equation modelling (SEM) was used to examine relationships among variables. The formal survey was preceded by a pilot study. The partial least squares-SEM product indicator technique was applied to measure the moderation effect of amateur photography.

Findings

When people have high levels of positive emotions in the pre-travel stage with VRE participation, their intentions to visit destinations are stronger. Amateur photography moderated the relationships between user interactivity, memorable experiences, mental imagery and visit intentions. No significant moderating effect was found between emotional experiences and visit intentions.

Practical implications

The results indicate that creators of virtual reality (VR) communications should concentrate on producing interactive and visually striking VR content, as the research found that VR experiences with tourism-related activities have a significant impact on potential visitor emotions. Therefore, VR producers should incorporate authentic and distinctive elements into contents, giving viewers realistic and trustworthy VR tourism experiences. Destination marketers should evoke emotions in people to increase motivations to visit the VR-presented places. Destination marketers should create VR content with hedonic elements, fostering a connection and desire to visit the destination presented in the VR. For example, destination marketers can enhance the sensory aspects of VR content with audio, video, haptics and artificial intelligence, encouraging people to be emotionally captivated and fully immersed. The findings indicate that amateur photography has a significant moderating effect on prospective tourists’ intentions to visit a place presented in VR. Thus, destination marketers are advised to provide photogenic and relevant content to users. By using amateur photography, destinations can market their attractions to potential visitors in a more interactive and relatable manner. Showcasing images taken by amateur photographers presents a genuine perspective of the offerings, thereby increasing visit intentions among prospective visitors. Additionally, amateur photography helps promote the destination in a positive light, emphasizing the attractions and other offerings, and this encourages potential visitors to consider the destination as a travel option, thereby increasing visit intentions. Encouraging amateur photographers to take and share images also increases their engagement with the destination, creating a sense of community and connection and ultimately driving visit intentions. Destination marketers should embrace VR tourism content as a means of promoting their destinations to potential customers by considering the three crucial elements of memorable experiences, emotional experiences and mental imagery. In essence, destination management organizations and other decision makers should develop complete VR communication plans that incorporate interactive and visually striking activities. This can be done by creating VR experiences for prospective tourists, which will enable them to pick their preferred destinations at the pre-travel stage. Through this approach, an effective destination marketing strategy can be established.

Originality/value

This research has value in making several potential contributions to the tourism applications of VR. It is the first study to use and test the S-O-R framework to analyse tourist behaviour from the perspective of emotions generated by VR applications. The analysis focuses on India’s tourism market, which has not been explored much in the context of VR and from the perspective of a developing country. The research emphasizes the use of VR as a tool to understand tourist behaviour rather than just focusing on visit intentions. The findings provide valuable insights into the importance of VR in tourism. The knowledge generated will contribute to the understanding of the impact of VR experiences on emotions and visit intentions and the moderating effect of amateur photography. It has practical implications for destination marketers in developing effective marketing strategies that enhance tourists’ emotions and motivate visit intentions.

目的

本研究运用刺激-机体-反应(S-O-R)框架, 探讨虚拟现实体验(VREs)和情绪对度假目的地旅游意向的影响。还研究了业余摄影在VREs、情感和访问意图之间的关系中的调节作用。

设计/方法/方法

通过在印度进行的结构化调查问卷收集原始数据, 并使用结构方程模型(SEM)来检查变量之间的关系。在正式调查之前进行了一项试点研究。采用PLS-SEM结果指标方法测量业余摄影的调节效果。

研究发现

当人们在旅行前的VRE参与阶段拥有高水平的积极情绪时, 他们访问目的地的意愿会更强。业余摄影调节了用户交互性、纪念体验、心理意象和访问意图之间的关系。情绪体验与访问意向之间无显著调节作用。

原创性/价值

本研究对虚拟现实的旅游应用有几个可能的贡献。这是第一个使用并测试刺激-生物-反应(S-O-R)框架的研究, 从VR应用产生的情感角度分析游客行为。分析集中于印度的旅游市场, 而在VR的背景下和从一个发展中国家的角度来看, 印度的旅游市场还没有得到太多的探索。该研究强调将VR作为一种了解游客行为的工具, 而不仅仅是关注游客的意图。这些发现为VR在旅游业中的重要性提供了有价值的见解。所产生的知识将有助于理解VR体验对情绪和访问意图的影响以及业余摄影的调节作用。这对目的地营销人员制定有效的营销策略, 增强游客的情绪和激发旅游意图具有实际启示。

Finalidad

Esta investigación analizó los efectos de las experiencias de realidad virtual (VREs) y las emociones en las intenciones de visita a destinos vacacionales aplicando el modelo estímulo-organismo-respuesta (S-O-R). También examinó el papel de la fotografía amateur como moderador en la relación entre las VREs, las emociones y las intenciones de visita.

Diseño/metodología/enfoque

Los datos primarios se recogieron mediante una encuesta con cuestionario estructurado administrado en la India, y se utilizó la modelización de ecuaciones estructurales (SEM) para examinar las relaciones entre las variables. La encuesta principal fue precedida de un estudio piloto. Se aplicó la técnica PLS-SEM para medir el efecto moderador de la fotografía amateur.

Resultados

Cuando las personas poseen un alto nivel de emociones positivas en la etapa previa al viaje con participación en VRE, sus intenciones de visitar destinos son más fuertes. La fotografía amateur moderó las relaciones entre la interactividad del usuario, las experiencias memorables, las imágenes mentales y las intenciones de visita. No se encontró ningún efecto moderador significativo entre las experiencias emocionales y las intenciones de visita.

Originalidad/valor

Esta investigación tiene el valor de hacer varias contribuciones potenciales a las aplicaciones turísticas de la realidad virtual. Es el primer estudio que utiliza y pone a prueba el marco estímulo-organismo-respuesta (S-O-R) para analizar el comportamiento de los turistas desde la perspectiva de las emociones generadas por las aplicaciones de RV. El análisis se centra en el mercado turístico de la India, poco explorado en el contexto de la RV y desde la perspectiva de un país en desarrollo. La investigación hace hincapié en el uso de la RV como herramienta para comprender el comportamiento de los turistas, en lugar de centrarse únicamente en las intenciones de visita. Las conclusiones aportan valiosas ideas sobre la importancia de la RV en el turismo. Los conocimientos generados contribuirán a comprender el impacto de las experiencias de RV en las emociones y las intenciones de visita, así como el efecto moderador de la fotografía amateur. Se presentan implicaciones prácticas para los responsables de marketing de los destinos turísticos a la hora de desarrollar estrategias de marketing eficaces que potencien las emociones de los turistas y motiven las intenciones de visita.

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