Purpose – This paper aims to examine the myriad linkages between cross‐border migration and international business activity through a conceptual framework of international arbitrage. Design/methodology/approach – While labour is internationally the least integrated of the various markets...

Purpose: The purpose of this paper is to perform non‐parametric production efficiency analysis of cement companies in India. Relative technical and scale efficiencies are estimated for the year 2005‐2006. Design/methodology/approach: Data envelopment analysis (DEA) has been used to calculate...

Purpose – The failure of the efficient market hypothesis has a direct bearing on the Geometric Brownian Motion model of asset returns. The current paper aims to investigate the effect that the autocorrelation in the time‐series of returns has on the calculation of expected shortfall (ES) for...

Purpose – This article aims to consider success in terms of the financial returns and risks of new public management (NPM) in state‐owned enterprises (SOEs). Design/methodology/approach – Financial returns of New Zealand SOEs were examined through a review of their annual reports over a...

Purpose – The purpose of this paper is to develop a method for estimating new direct tourism spending resulting from a new event in an existing destination. Design/methodology/approach – Intercept surveys were conducted on site at six of nine festival locations. Of the 308 festival...

Based on the operation results of Chinese hotels from 1991‐2000, this paper analyzes problems facing the Chinese lodging industry and proposes solutions. Chinese hotels’ performance, in terms of both revenue and profit, has been deteriorating since the early 1990s. While overcapacity has...

Purpose – Excessive initial trading day returns (termed underpricing (UP)) and poor long‐run performance (LRP) are two well‐documented anomalies associated with initial public offerings (IPOs).The primary objective of this study is to empirically test the association between the extent of...

Purpose – The purpose of this paper is to provide evidence for the ongoing significant underpricing of European property IPOs. Design/methodology/approach – The paper provides recent evidence on underpricing for a comprehensive data set of 105 IPOs of European property companies. It starts...

Purpose – The purpose of this paper is to examine the impact of audit quality, measured by financial statements audited by the big four accounting firms, on the investors' ability to predict future earnings for profitable and unprofitable firms. Design/methodology/approach – The paper uses...

Purpose – The purpose of the paper is to present an integrated approach concerning intertemporal choices and the location of economic activity under a simple endogenous growth model. The idea is that time analysis concerning the choices about present and future consumption and the choices on...