We consider how public firms influence their stock market valuations by timing the introduction of innovative new products. Our focus is on <i>innovation ratchet strategy</i>--firms timing the introduction of innovations in order to demonstrate an improvement in the number of introductions over time....

Climate change could have major implications for the global tourism industry if changing environmental conditions alter the attractiveness of holiday destinations. Countries with economies dependent on tourism and with tourism industries reliant on vulnerable natural resources are likely to be...

The present study uses conjoint analysis to examine college students' choices of elective courses. The relative contributions to student satisfaction or 'utility' of six course and instructor attributes are computed. Results suggest that choice is in large part a function of the perceived...

Increasing deer populations can be controlled through manipulatingharvest limits or season length. While such actions often result in benefitsto hunters, both motorists and the agricultural sector also benefit as alower deer population leads to fewer incidences of harmful human-deerencounters....

The potential importance ofcongestion effects on the management andrationing of recreational facilities andservices in the presence of heterogeneouspreferences were highlighted nearly twenty-fiveyears ago by Freeman and Haveman (1977). Whilethere have been a number of theoretical modelsextending...

This study uses Hofstede's (2001) cultural dimensions to investigate the impact of market reception on capital structure. We examine the interaction of these dimensions with stock returns, our proxy for market timing. Based on our market leverage results, we find evidence that firms do engage in...

Growing deer populations are controlled through changes in hunting regulations including changes in both hunter bag limits and season length. Such action results in direct benefits to hunters and indirect benefits to motorists and the agricultural sector as a lower deer population leads to fewer...

The potential importance of congestion effects on the management and rationing of recreational facilities and services in the presence of heterogeneous preferences were highlighted nearly twenty-five years ago by Freeman and Haveman (1977). While there have been a number of theoretical models...

This paper is motivated by the commercial-recreational fishery allocation issue. A dynamic stock model is developed which includes aggregate recreational effort. Benefits for red drum anglers from hypothetical reallocation are estimated with RUM, and costs to the commercial sector are also...