Search results

While there has been intense debate in the empirical literature over the evolution of the college wage premium in the United States, its evolution in Europe has received little attention. This paper investigates the causes of the evolution of the college wage premium in 12 European countries from 1994 to 2009, assessing the relevance of the supply factor as a determinant of the college wage premium. I use cross-country variation in relative supply, demand, and labour market institutions to examine their effects on the trend in wage inequality. I address possible concerns of endogeneity of the relative supply using an IV strategy exploiting the differential legislations of university autonomy and their variations over time. Results show that the strong increase in the relative supply that European countries have experienced has decreased the college wage premium. The most relevant institution is the minimun wage, which significantly decreases college wage premium.

Overview All organisations are, in one sense or another, involved in operations; an activity implying transformation or transfer. The major portion of the body of knowledge concerning operations relates to production in manufacturing industry but, increasingly, similar problems are to be found confronting managers in service industry. It is only in the last decade or so that new technology, involving, in particular, the computer, has encouraged an integrated view to be taken of the total business. This has led to greater recognition being given to the strategic potential of the operations function. In order to provide greater insight into operations a number of classifications have been proposed. One of these, which places operations into categories termed factory, job shop, mass service and professional service, is examined. The elements of operations management are introduced under the headings of product, plant, process, procedures and people.

Healthy eating has been at the forefront of media and medical circles in recent years. Discusses the awareness and response of the food chain (multiple retailers, food companies and farmers) to the healthy eating trends and reports. Retailers were the most aware of healthy eating, and had reacted positively in line with the trends and dietary recommendations. This contrasted with farmers, many of whom were unaware of the dietary messages, and few of whom had responded to them, reflecting the lack of Government support for organic agriculture, and dairy farmers being paid to produce high and not low‐fat milk. When the nature of Government support changes, the food chain will respond more efficiently to consumer demands for healthy eating. Based on research involving 683 farmers, food companies and retailers in the food chain.

The aim of this paper is to establish the role of asymmetric price decompositions in UK road transportation fuel demand, make explicit the impact of the underlying energy demand trend, and disaggregate the estimation for gasoline and diesel demand as separate commodities.

Dynamic UK transport oil demand functions are estimated using the Seemingly Unrelated Structural Time Series Model with decomposed prices to allow for asymmetric price responses.

The importance of starting with a flexible modelling approach that incorporates both an underlying demand trend and asymmetric price response function is highlighted. Furthermore, these features can lead to different insights and policy implications than might arise from a model without them. As an example, a zero elasticity for a price‐cut is found (for both gasoline and diesel), implying that price reductions do not induce demand for road transportation fuel in the UK.

The paper illustrates the importance of joint modelling of gasoline and diesel demand incorporating both asymmetric price responses and stochastic underlying energy demand trends.

The demand for the cold chain logistics of agricultural products was investigated through demand forecasting; targeted suggestions and countermeasures are provided. This paper aims to discuss the aforementioned statement.

A Markov-optimised mean GM (1, 1) model is proposed to forecast the demand for the cold chain logistics of agricultural products. The mean GM (1, 1) model was used to forecast the demand trend, and the Markov chain model was used for optimisation. Considering Guangxi province as an example, the feasibility and effectiveness of the proposed method were verified, and relevant suggestions are made.

Compared with other models, the Markov-optimised mean GM (1, 1) model can more effectively forecast the demand for the cold chain logistics of agricultural products, is closer to the actual value and has better accuracy and minor error. It shows that the demand forecast can provide specific suggestions and theoretical support for the development of cold chain logistics.

This study evaluated the development trend of the cold chain logistics of agricultural products based on the research horizon of demand forecasting for cold chain logistics. A Markov-optimised mean GM (1, 1) model is proposed to overcome the problem of poor prediction for series with considerable fluctuation in the modelling process, and improve the prediction accuracy. It finds a breakthrough to promote the development of cold chain logistics through empirical analysis, and give relevant suggestions based on the obtained results.

The purpose of this paper is to review recent studies published from 2007 to 2015 on tourism and hotel demand modeling and forecasting with a view to identifying the emerging topics and methods studied and to pointing future research directions in the field.

Articles on tourism and hotel demand modeling and forecasting published mostly in both science citation index and social sciences citation index journals were identified and analyzed.

This review finds that the studies focused on hotel demand are relatively less than those on tourism demand. It is also observed that more and more studies have moved away from the aggregate tourism demand analysis, whereas disaggregate markets and niche products have attracted increasing attention. Some studies have gone beyond neoclassical economic theory to seek additional explanations of the dynamics of tourism and hotel demand, such as environmental factors, tourist online behavior and consumer confidence indicators, among others. More sophisticated techniques such as nonlinear smooth transition regression, mixed-frequency modeling technique and nonparametric singular spectrum analysis have also been introduced to this research area.

The main limitation of this review is that the articles included in this study only cover the English literature. Future review of this kind should also include articles published in other languages. The review provides a useful guide for researchers who are interested in future research on tourism and hotel demand modeling and forecasting.

This review provides important suggestions and recommendations for improving the efficiency of tourism and hospitality management practices.

The value of this review is that it identifies the current trends in tourism and hotel demand modeling and forecasting research and points out future research directions.

This paper is concerned with the development of an intelligent inventory management system which aims at bridging the substantial gap between the theory and the practice of inventory management. The proposed system attempts to achieve this by providing automatic demand and lead time pattern identification and model selection facilities. The process of demand pattern identification together with the statistical tests used is discussed. The models incorporated cover deterministic demand models including: constant, quasi‐constant, trended and seasonal demand as well as stochastic demand models. This paper includes an empirical evaluation of the system on real data from the manufacturing and airline industries which shows that this system can lead to significant savings in inventory cost.

Higher education is now one of the biggest export sectors in the Australian economy. Purpose-built student accommodation (PBSA) has emerged as a new asset class in Australia, as demanded by international and domestic students. As of 25 October 2020, there were still approximately 400,000 onshore international students and 135,000 offshore students despite the COVID pandemic. Various universities remain optimistic about their returns to Australia. Active PBSA investors remain focussed on the longer-term fundamentals and return of the Australian student market. This study aims to examine the investment potential of the PBSA sector in Sydney.

The triangulation method was used to confirm whether the literature findings on the high potential of PBSA investment apply to the context of the Sydney market. Qualitative expert interviews with two directors of major international real estate consulting firms, one private family trust investor and one director of a development company, were conducted in tandem with a qualitative multiple-case study of three major PBSAs via interviews with their building managers. These selected participants broadly covered the stakeholder settings across the industry.

A positive and solid trend of demand and rental growth was confirmed by the expert interviews and the performance of PBSA cases in Sydney, as supported by the growing number of international students in the longer term. To enhance the rental growth, and hence total returns, self-contained studio-type accommodation with quality facilities and social support should be provided, and operators should consistently track the needs of students and provide them with a better living experience.

PBSA is a new asset class and there have been limited supply and sale transactions to enable detailed examination of the capital growth, so this research has focussed on rental growth. When the PBSA market becomes more mature, further research should be conducted to analyse the strength of this emerging investment’s capital growth and total returns.

In the longer term, PBSA is a low-risk property investment with potentially high returns in Sydney. Institutional investors and real estate consultants can make informed decisions to build up the property portfolio. PBSA is capital-intensive and has low liquidity, so this type of investment is particularly suitable for institutional investors.

Universities should provide more suitable PBSA accommodations by themselves or partnerships with private developers. Planning authorities should include more PBSA residential uses in the land zoning plan. This is to provide more affordable accommodations to meet the demand of cost-sensitive students.

This research confirms PBSA is a low-risk investment with potentially high returns within the context of the Sydney market. The findings will benefit the major stakeholders of PBSA in their investment decisions, including investors, developers and universities.

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.