The effect of innovation on hotel market value

The purpose of this article is to analyze the effect of hotel innovations on firm value. Specifically, this study fills a research gap in the previous literature by examining this effect through market value and by distinguishing the potentially different impacts of distinct innovation types: product, process, organization and marketing. This research contributes to consolidating the empirical evidence of hotel innovation and performance by analyzing whether distinct types of innovation lead to different levels of results. The findings show that innovations are perceived to have a positive impact on the future sales of the company: in a four-day period (0,+3), there is an increase in stock exchange returns of 1.53%. In terms of innovation types, process and marketing innovations are found to have a higher positive effect on hotel market value than product and organization innovations; which is explained by potential cost differences among innovations.

Ancient Rome, Italy (Raster Image)

This layer is a georeferenced raster image of the historic paper map entitled: Pianta delle vestigia di Roma, secondo le osservazioni di Antonio de Romanis, ach. e socio dell' accad. di archeol. e di Antonio Nibby profess. di archeologia nell Vniv. di Roma e Socio della Stessa Accademia dallo stesso corretta ed amliata seconodo le vltime scoperte. data in lvce da Venanzio Monaldini Libraio L Anno MDCCCXXVI; Gio Acquaroni dis. e inc. It was published by presso Veanzio Monaldini ... con approvazione e privilegio Pontificio in 1826. Scale [ca. 1:8,769]. Covers area including portion of the modern city of Rome and Vatican City. The image inside the map neatline is georeferenced to the surface of the earth and fit to the "European Datum 1950 UTM Zone 33N" coordinate system. All map collar and inset information is also available as part of the raster image, including any inset maps, profiles, statistical tables, directories, text, illustrations, index maps, legends, or other information associated with the principal map. This map shows features of Ancient Rome such as roads, drainage, selected buildings, city walls, gates, and fortifications, arches, and sepulchres. Relief is shown by hachures. Includes index, notes, and insets showing floor plans of selected historical sites.This layer is part of a selection of digitally scanned and georeferenced historic maps from The Harvard Map Collection as part of the Imaging the Urban Environment project. Maps selected for this project represent major urban areas and cities of the world, at various time periods. These maps typically portray both natural and manmade features at a large scale. The selection represents a range of regions, originators, ground condition dates, scales, and purposes.

Rome, Italy, 1887 (Raster Image)

This layer is a georeferenced raster image of the historic paper map entitled: Plan of Rome 1887 : the ancient monuments, the gates, and the other important places are coloured red; the numbers correspond with those in the accompanying lists. It was published in [1887]. Scale [1:9,000]. Covers Rome, Italy and Vatican City. Map in English with Italian place names.The image inside the map neatline is georeferenced to the surface of the earth and fit to the "European Datum 1950 UTM Zone 33N" coordinate system. All map collar and inset information is also available as part of the raster image, including any inset maps, profiles, statistical tables, directories, text, illustrations, index maps, legends, or other information associated with the principal map.This map shows features such as roads, railroads, drainage, built-up areas and selected buildings, walls, gates, fortification, ground cover, and more. Relief is shown by hachures. Includes indexes.This layer is part of a selection of digitally scanned and georeferenced historic maps from The Harvard Map Collection as part of the Imaging the Urban Environment project. Maps selected for this project represent major urban areas and cities of the world, at various time periods. These maps typically portray both natural and manmade features at a large scale. The selection represents a range of regions, originators, ground condition dates, scales, and purposes.

The History and Challenges of Cohesion Policies. Jean Monnet/Robert Schuman Paper Series Vol. 14 No. 2, February 2014

From Introduction. Regional economic disequilibria was viewed as both an obstacle to and result of integration (European Commission 1965; European Commission 1962; European Commission 1969). Even within the Treaty of Rome, the Community tried to establish mechanisms to alleviate regional inequality. However, it was not until 1975 that the main mechanism of regional policy was established as a result of British and Irish enlargement: the European Regional Development Fund (ERDF). Since then, cohesion policy has become a significant EU expenditure accounting for €347bn, or 35.7% of the total EU budget for 2007-13(European Commission Regional Policy-Info Regio 2012). It has also become a key policy linked to enlargement. The underlying principle of cohesion policy assumes that the market alone cannot solve development problems and therefore government intervention is needed. This notion is in direct contrast to the underlying principle of EU competition policy, which asserts that the free market can solve economic development problems (Meadows, interview by author, 2003). The logic underlying cohesion policy is not only counter to EU competition policy, but also regulatory policies. Unlike other EU policies, cohesion policy is not a sectoral policy, but rather territorial in nature (Leonardi, 2006). Thus at times EU regulatory policy has also unintentionally worked counter to the goals of regional policy, sometimes disadvantaging poorer regions (Dudek, 2005). As the Community has sought to ameliorate regional disparities, it meant that all levels of government: local, regional, national and supranational would need to be involved, however, member states have different territorial governance and European regional development programs have to varying degrees impacted the relationship and policy responsibility of different levels of government (Leonardi, 2006; Bachtler and Michie 1993; Marks, 1993). The very nature of regional development policy has provoked a re-examination of subsidiarity, or which level of government is the lowest and most appropriate level. The discussion of policy formulation and implementation at the lowest level possible also addresses the issue of the democratic deficit. Some argue that the closer government is to the people the more responsive and representative it is. Democracy, however, also implies that public funds are used in a transparent way and for public rather than private good. Yet, as we examine the history and current situation of EU regional funds we find that corruption and misuse still abound. Thus, to understand the history of regional policy it is imperative to look at the major transformations of the policy, how regional policy has impacted subsidiarity and the quality of democracy, become an important instrument of enlargement and contradicted or conflicted with other EU policies.

Pliocene-Pleistocene stack of globally distributed benthic stable oxygen isotope records

We present a 5.3-Myr stack (the ''LR04'' stack) of benthic d18O records from 57 globally distributed sites aligned by an automated graphic correlation algorithm. This is the first benthic delta18O stack composed of more than three records to extend beyond 850 ka, and we use its improved signal quality to identify 24 new marine isotope stages in the early Pliocene. We also present a new LR04 age model for the Pliocene-Pleistocene derived from tuning the delta18O stack to a simple ice model based on 21 June insolation at 65 N. Stacked sedimentation rates provide additional age model constraints to prevent overtuning. Despite a conservative tuning strategy, the LR04 benthic stack exhibits significant coherency with insolation in the obliquity band throughout the entire 5.3 Myr and in the precession band for more than half of the record. The LR04 stack contains significantly more variance in benthic delta18O than previously published stacks of the late Pleistocene as the result of higher resolution records, a better alignment technique, and a greater percentage of records from the Atlantic. Finally, the relative phases of the stack's 41- and 23-kyr components suggest that the precession component of delta18O from 2.7-1.6 Ma is primarily a deep-water temperature signal and that the phase of d18O precession response changed suddenly at 1.6 Ma.

The officer's manual. Military maxims of Napoleon.

Contains 68 maxims, annotated by M. Burnod.

Catharine of Russia ; or, The child of the storm : an historical drama, founded on an incident in the life of Peter the Great.

Separated from some unknown collection.

Empress Innocence, the life of Marie-Louise,

"First edition."

Ideals of science & faith : essays by various authors /

Introduction.--Approaches through science and education: Lodge, O., Sir. A physicists's approach. Thompson, J. A. A biological approach. Muirhead, J. H. A psychological approach. Branford, V. V. A sociological approach towards unity. Russell, B. An ethical approach. Geddes, P. An educational approach ; a technical approach.--Approaches through faith: Kelman, J. A. Presbyterian approach. Bayne, R. A Church of England approach. Waggett, P. N. The church as seen from outside. Ward, W. A. Church of Rome approach.

A catalog of the Napoleon library of De Paul university,

Mode of access: Internet.

The establishment of Maximilian's empire in Mexico.

Thesis (PH. D.)--University of Pennsylvania, 1912.