Dark Tourism: Concepts, Typologies and Sites

Dark Tourism, understood as the type of tourism that involves a visit to real or recreated places associated with death, suffering, misfortune, or the seemingly macabre, is not a new concept, even from a touristic point of view. In fact, places of war, disasters, death and atrocities always fascinated humans and are subject to visits. People have long been drawn, purposefully or otherwise, towards sites, attractions or events linked in one way or another with death, suffering, violence or disaster. The concept of dark tourism has been designed and studied for the last years and many are the destinations around the world where it has been implemented, playing an important role in both a country’s economy and its image. However, there is a gap in literature about this specific type of tourism. The main goal of this paper is to present a literature review about this new tourism product where the thrill seeking is the main motivation. Specifically, it’s our intent to present some Dark Tourism definitions, history and evolution, as well as, to introduce its typologies and identify the most important dark tourist sites all over the world.

The Terminal Value (TV) Performing in Firm Valuation: The Gap of Literature and Research Agenda

The uncertainty about the future of firms must be modeled and incorporated in the valuation of enterprises outside the explicit period of analysis, i.e., in the continuing or terminal value (TV). There is a multiplicity of factors that influence the TV of firms which are not being considered within current evaluation models. This aspect leads to the incurring of unrecoverable errors, thus leading to values of goodwill or bad will far away from the substantial value of intrinsic assets. As a consequence, the evaluation results will be presented markedly different from market values. There is no consensus in the scientific community about the method of computation of the TV as a forecast in an infinite horizon. The size of the terminal, or non-explicit period, assumed as infinite, is never called into question by scientific literature, or the probability of business bankruptcy. This paper aims to promote a study of the existing literature on the TV, to highlight the fragility of the evaluation models of companies that have been used by the academic community and by financial analysts, and to point out lines for future research to minimize these errors.