Starting out: Quality of working life of young workers in the retail and hospitality industries in Australia

In the 1990s workers in Australia were increasingly subjected to negative work pressures. Irregular work patterns, work intensification, and the transformation of the notion of career, often in the name of ‘flexibility’, were increasingly common. This period was also characterised by scant regard for the quality of working life of young people in entry-level employment, which is often portrayed as a transition stage prior to their admission into the full-time core workforce. This paper explores the experiences of twenty-two young people at the beginning of their careers, in the hospitality and retail industries, with reference to three quality of working life (QWL) elements: hours flexibility, work-life balance and career potential. Qualitative evidence reveals a variety of experiences but, on balance, suggests a negative quality of working life and limited commitment to their current industry. In conclusion, the paper suggests that these industries must pay more attention to QWL issues in order to attract and retain quality staff.

Exploring the characteristics of the market-driven firms and antecedents to sustained competitive advantage

During the last few decades, identifying and examining the characteristics of market-driven firms have been a dominant theme in strategic marketing research. It has been argued that market-driven firms are superior in their market sensing and customer linking capabilities, enabling market-driven firms to outperform their competitors. This paper reports the findings of a study that examines the role market-focused learning capability and marketing capability in innovation-based competitive strategy on sustainable competitive advantage. The findings indicate that entrepreneurship is an important factor in sustained competitive advantage (SCA) and while market-focused learning capability leads to higher degrees of innovation, marketing capability enables SCA. (C) 2003 Elsevier Inc. All rights reserved.

The NASCAR phenomenon: Auto racing sponsorships and shareholder wealth

This study presents the first analysis of the impact of NASCAR sponsorship announcements on the stock prices of sponsoring firms. The primary finding of the study-that NASCAR sponsorship announcements were accompanied by the largest increases in shareholder wealth ever recorded in the marketing literature in response to a voluntary marketing program-represents a striking and unambiguous stock market endorsement of the sponsorships. Indeed, the 24 sponsors analyzed in this study experienced mean increases in shareholder wealth of over $300 million dollars, net of all of the costs associated with the sponsorships. A multiple regression analysis of firm-specific stock price changes and select corporate and sponsorship attributes indicates that NASCAR sponsorships with more successful racing teams, corporate (as opposed to product or divisional) sponsorships, and sponsorships with direct ties to the consumer automotive industry are all positively correlated with perceived sponsorship success, while corporate cash flow per share (a well-known proxy for agency conflicts within the firm) is negatively related with shareholder approval.

Relationship between franking credits and the market risk premium

In a dividend imputation tax system, equity investors have three potential sources of return: dividends, capital gains and franking (tax) credits. However, the standard procedures for estimating the market risk premium (MRP) for use in the capital asset pricing model, ignore the value of franking credits. Officer (1994) notes that if franking credits do affect the corporate cost of capital, their value must be added to the standard estimates of MRP. In the present paper, we explicitly derive the relationship between the value of franking credits (gamma) and the MRP. We show that the standard parameter estimates that have been adopted in practice (especially by Australian regulators) violate this deterministic mathematical relationship. We also show how information on dividend yields and effective tax rates bounds the values that can be reasonably used for gamma and the MRP. We make recommendations for how estimates of the MRP should be adjusted to reflect the value of franking credits in an internally consistent manner.

Pace of Civil Litigation in the Queensland Supreme Court

The overriding philosophy of the Uniform Civil Procedure Rules 1999 in Queensland is to facilitate the just and expeditious resolution of the issues in a civil proceeding at minimum expense. The court is enjoined to apply the rules to avoid undue delay, expense and technicality. Parties impliedly undertake to the court and each other to proceed expeditiously. These rules adopt management theories developed to contain delay and cost in the civil justice system. A survey was designed to determine whether the overriding objective is being achieved in practice. The results indicate a reduction in the time from initiation of a proceeding to termination as compared to a sample of similar cases determined under the repealed Rules of the Supreme Court.

Vector Error-Correction Models in a consumer packaged goods category forecasting decision support system

A framework for developing marketing category management decision support systems (DSS) based upon the Bayesian Vector Autoregressive (BVAR) model is extended. Since the BVAR model is vulnerable to permanent and temporary shifts in purchasing patterns over time, a form that can correct for the shifts and still provide the other advantages of the BVAR is a Bayesian Vector Error-Correction Model (BVECM). We present the mechanics of extending the DSS to move from a BVAR model to the BVECM model for the category management problem. Several additional iterative steps are required in the DSS to allow the decision maker to arrive at the best forecast possible. The revised marketing DSS framework and model fitting procedures are described. Validation is conducted on a sample problem.

Sustainable tourism planning: A content analysis of local tourism plans

Tourism planning has been advocated by many as a possible means of alleviating some of the negative impacts of tourism. While a number of approaches have evolved, tourism planning based on the philosophies of sustainability has emerged as the most comprehensive approaches. To investigate the tourism planning approaches of local tourism destinations in Queensland, particularly the extent to which tourism plans exhibit the sustainable approach to tourism planning, 30 local tourism planning documents have been reviewed. Despite claims that sustainable tourism planning is one of the most accepted approaches the study has shown that this is not necessarily the case in practice. It was found that although a number of plans addressed the issue of sustainability, the subsequent strategies and actions suggest that the sustainable approach is not the dominant planning approach, but in fact the economic and infrastructure approaches are the primary planning methods.