Business Commons^™

Kelly Fraction Estimation For Multiple Correlated Bets, William Chin

International Conference on Gambling & Risk Taking

It is well-known that expected portfolio growth is maximized by maximizing

expected logarithmic utility. This investment criterion is known as Kelly betting.

It has many optimality properties but is considered to be risky. Blackjack

teams and other advantage gamblers practice a fraction of the Kelly optimal to

decrease risk. Some hedge fund managers are thought to practice according to

Kelly principles. We use a continuous multivariate Geometric Brownian motion

model and present an interval estimate for the historical fraction for a portfolio

of correlated bets, possibly including a risk-free asset. Historical data comes

from a range of sources and the …

Optimal Taxation For Integrated Resorts-Japan, Macau And Las Vegas, Jacky So, Shinya Kawahara

International Conference on Gambling & Risk Taking

After debating the costs and benefits of legalize gambling in the integrated resorts for several years, the Japanese House of Representatives passed the Integrated Resorts (IR) Implementation Bill on June 19, 2018 and the parliament finally passed the Bill in late July 2018. It is predicted that the first casino licenses to be issued in 2020 and actual operation of casino after five years.

The objectives of this paper are to develop an optimal taxation model that can help the Japanese government, and other countries that are interested in offering integrated resorts to attract tourist, to set up a tax …

A New Pedagogy For Enhancing Innovation In The Hospitality Classroom, Robert Rippee

International Conference on Gambling & Risk Taking

A new pedagogy on the instruction of innovation in higher education was developed using a grounded-theory approach. Multi-disciplinary students were guided through a systematic process in interdisciplinary learning, problem-based learning and experiential learning along a journey to create innovative solutions to address friction points in the hospitality industry. The proposed pedagogy integrates the innovation process and the business model canvas methodology as the standard business model in today’s startups.

Sports Betting And Indian Gaming: Overcoming Barriers To Market Entry And Integration Of Sports Books Into Tribal Casinos, Steve Light

International Conference on Gambling & Risk Taking

Abstract

Even before the U.S. Supreme Court issued its decision In Murphy v. NCAA (2018) permitting states to legalize sports wagering, the biggest brand-names in gaming worldwide were positioning themselves to capitalize on the fan base for America’s most recognizable sports leagues.

Sports wagering already is up and running in five states; analysts predict that more than half the states will legalize it within five years. Many will be among the 29 states that currently have casinos owned and operated by American Indian tribes in this $32.4 billion market segment.

There is no firm sense and little data pointing to …

Do Casinos Promote The Image Of A Tourism Destination? The Case Of Ponta Delgada, Azores, Jose Deus

International Conference on Gambling & Risk Taking

Do casinos promote the image of a tourism destination? The case of Ponta Delgada, Azores

José Pereira de Deus

Gaming inspector, SRIJ, Portugal

[email protected] ; [email protected]

Abstract

This study evaluates the role of a casino in the promotion of the image and development of a tourist destination. The basis of analysis is the city of Ponta Delgada, the capital of the Azores islands, Portugal. The purpose is to determine what impact the casino may have as a tourist attraction in the destination area.

The methodology includes surveys of domestic and foreign tourists about the perception of the image of Ponta …

Current Problem Gambling Countermeasures And Responsible Gaming Dissemination Issues In Japan, Naoyuki Nishimura Phd Md

International Conference on Gambling & Risk Taking

Activities such as pachinko, pachi-slot and public sports race betting make up Japan’s unique gambling culture. When the “the Gambling Addiction Countermeasures Act” and “the Integrated Resort (IR) Development Act” were passed by the Japanese Diet in July 2018, gambling in Japan has begun the move to a new stage. In preparation of IR developments, there will be measures enacted at the national government level on problem gambling from existing activities, and discussions have started on how to prevent the negative influence created from casinos in the IRs. The problem gaming countermeasures which just started in Japan face many issues …

Betting On Casinos As A Community Benefit: Analyzing Local News Coverage Of The Development Of Casino Gaming In Ohio, Jessalynn Strauss

International Conference on Gambling & Risk Taking

This research examines news coverage of casino gaming in Ohio in the period 2008-2018. Ohio legalized gambling by popular vote in November 2009 and the state now has four casinos and 7 racinos with VLT gaming. This study will use a framing analysis to look at the way that news coverage portrays casinos with respect to social responsibility and their impact on the local community.

With the spread of gambling outside of traditional strongholds such as Las Vegas and Atlantic City, many have debated casinos’ benefit to communities, and some have criticized casinos’ impact on localities. This study will assess …

Ua80/1 Meeting Minutes, W Club

University Organizations

Meeting minutes for the May 2019 meeting of the W Club Board of Directors, includes July 2019 executive committee meeting minutes.

Determinants Of Migrant Career Success: A Study Of Recent Skilled Migrants In Australia, Eddy Ng, Diana Rajendran, Greg J. Sears, Nailah Ayub

Faculty Journal Articles

Australia has been aggressively pursuing skilled migrants to sustain its population and foster economic growth. However, many skilled migrants experience a downward career move upon migration to Australia. Based on a survey of recent skilled migrants, this study investigates how individual (age, years of settlement, qualifications), national/societal (citizenship and settlement), and organization‐level (climate of inclusion) factors influence their career success. Overall, we found that: (1) age at migration matters more than length of settlement in predicting skilled migrant career success; (2) citizenship uptake and living in a neighbourhood with a greater number of families from the same country of origin …

Borderless With Unequal Opportunity? Experts’ Perspectives On The Asean Economic Community And Impact On Indonesian Accountant Profession, Desi Adhariani, Sylvia Veronica Siregar, Rini Yulius

The Qualitative Report

The ASEAN Economic Community (AEC), a regional integration in Southeast Asia that started at the end of 2015 and is expected to bring new challenges and opportunities. However, an assessment of the capabilities of Indonesian management accountants suggests that they may struggle with challenges because of the free flow of skilled labour. In this study, we aimed at presenting and analysing Indonesian experts’ perspectives on the readiness of management accounting professionals in Indonesia to work in the new economic era. It also provides recommendations for improvements in the profession. This research uses in-depth interviews as well as questionnaires distributed to …

Essays In International Corporate Finance, Patrick M. Stanton

Doctoral Dissertations

International corporate finance has greatly expanded with the increased globalization and led to many new research topics. In this dissertation, I examine two distinct international finance topics; (i) determinants of corporate tax inversion and the effects ex-post; and (ii) determinants of for-profit microfinance institutions and financial and social performance.

In Chapter 1, I study corporate tax inversion which is a reorganization by which a domestic firm changes its tax-domicile from the United States to a foreign country with a lower corporate tax rate. In 2014 alone, U.S. public companies valued at over half a trillion dollars announced their intention to …

Measurement Of Visual Cues And Their Effects On Online Users: An Image Mining Approach, Shuya Lu

LSU Doctoral Dissertations

Textual marketing communication is effective in various contexts such as print advertising, user-generated content, and social media (Diamond 1968; Ludwig et al. 2013; Nam and Kannan 2014). However, visual marketing communication studies are limited in the context of print advertising (e.g., Hagtvedt and Brasel 2017). This dissertation includes two essays to examine the visual communication effectiveness online.

Essay 1 develops a conceptual framework to examine the visual-based brand perception (VBBP) and related concepts on social media. We propose that the VBBP is a co-creational process between a company and its consumers and exhibits three characteristics: i) a two-way communication that …

Innovation Agents, Mirit Eyal-Cohen

Washington and Lee Law Review

The standard narrative of entrepreneurship is one of self-employed creative individuals working out of their garage or independently owned start-up companies. Intrapreneurship— where employees are responsible for being alert to new opportunities inside firms—is another model for developing innovations. Relatively little is known, however, about the latter process through which large, complex firms engage in groundbreaking corporate entrepreneurship.

This Article’s focus is on these types of innovation agents. It provides a thorough account of the positive and negative spillovers of intrapreneurial firms while making the following key points: First, intrapreneurial companies utilize their economies of scale, scope, and age to …

State Ownership, Firm Specific Risk And Momentum Trading, Saeed Nassir Algahtani

LSU New Orleans Theses and Dissertations

The dissertation consists of two essays. In the first essay, we investigate the relation of government ownership to the idiosyncratic volatility of Saudi Arabian firms that traded in the Saudi stock exchange between 2010 and 2016. The results show that publicly traded firms with an increase in government ownership have less idiosyncratic volatility. Furthermore, we investigate market leverage ratio, dividend payout ratio, and illiquidity ratio as potential roles in which government ownership influences the idiosyncratic volatility. The results prove the negative relationship between government ownership and idiosyncratic volatility. In the second essay, we investigate the association between government ownership and …

Volatility Interruptions, Idiosyncratic Risk, And Stock Return, Saad A. Alsunbul

LSU New Orleans Theses and Dissertations

The objective of this paper is to examine the impact of implementing the static and dynamic volatility interruption rule on idiosyncratic volatility and stock returns in Nasdaq Stockholm. Using EGARCH and GARCH models to estimate the conditional idiosyncratic volatility, we find that the conditional idiosyncratic volatility and stock returns increase as stock prices hit the upper static or dynamic volatility interruption limits. Conversely, we find that the conditional idiosyncratic volatility and stock returns decrease as stock prices hit the lower static or dynamic volatility interruption limit. We also find that the conditional idiosyncratic volatility is higher when stock prices reach …

Impact Of Relative Liquidity Of Stocks And Bonds On The Financing And Investment Decisions Of A Firm, Sohale Altamimi

LSU New Orleans Theses and Dissertations

The dissertation consists of two essays. The first essay investigates if market illiquidity is a significant determinant of capital structure decisions. We hypothesize that firms would likely compare the illiquidity of two sources of external funding at a given point in time and issue the one with lower illiquidity. Therefore, if the level of illiquidity is a key driver of firms’ capital structure decisions in that year, the higher the level of stocks illiquidity, the more of its financing needs are satisfied by the issuance of debt, and the higher the level of bonds illiquidity, the less of its financing …

Financial Regulation, Banking, And Sovereign Debt, Rhada Boujlil

LSU New Orleans Theses and Dissertations

The dissertation consists of two essays. In the first essay we study the efficiency of banks during the period of (2000-2017) that witnessed a fierce financial crisis in the light of the regulatory acts enacted in response to the crisis (Basel III 2010). We investigate the combined impact of compliance with Tier 1 and Tier 2 capital, common equity Tier 1, and leverage requirements on bank operating efficiency. We measure operational efficiency of 68 insured, U.S. federally and state-chartered, commercial banks, with consolidated assets of $15 billion or more, over a sampling period of 18 years. We seek to identify …

Preserving Traveller’S Memory In Religious Destinations, Polyxeni Moira, Dimitrios Mylonopoulos, Anastasia Parasxi

International Journal of Religious Tourism and Pilgrimage

Preserving memory from the visit of a tourist destination plays an important role in tourist activity. In pilgrimage in particular, and in religious tourism in general, the preservation of this memory constitutes a spiritual process associated with the sanctity of the place. Obviously, the degree of spirituality varies according to the traveller’s personality and religious beliefs. Following the return home, the religious memorabilia and ‘souvenirs’ play an important role in the ‘confirmation’ of the trip or the fulfilment of the vow, as well as in the preservation of the memory. At first one could claim that religious souvenirs serve or …

Religious Tourism And Emotional Experiences: An Emotional Cartography Of Jerusalem, Ion Gil Fuentetaja, Marina Abad-Galzacorta

International Journal of Religious Tourism and Pilgrimage

An increasingly important segment of cultural tourism relates to ‘religious travel’, tourism motivated by spiritual reasons or associated with religious heritage sites. Thus, travel agencies are offering extensive journey packages to ancient places of worship, sacred destinations and pilgrimage sites. In this sense, according to data offered by the Ministry of Tourism of Israel, around one fifth of tourists to the country expressed religious tourism or pilgrimage as the main purpose of their visit. Additionally, tourism is greatly founded on the consumption of experiences. Understanding the ways in which tourists experience the places is, therefore, fundamental to the study of …

A Conceptual Model For Assessing The Level Of Development Of Pilgrimage Routes, Vitor Ambrósio, Carlos Fernandes, Goretti Silva, Adília Cabral

International Journal of Religious Tourism and Pilgrimage

This paper proposes an innovative conceptual model based on a hierarchical structure for the assessment of pilgrimage routes, establishing and weighting the different associated elements. Based on a holistic approach, a Diagnostic Matrix was created which structures the surveying of predefined variables and enables the evaluation of pilgrimage routes. This tool allows an understanding of both, material and immaterial elements that comprise part of pilgrimage experiences, and of the respective routes as tourism products. Based on the case of the Portuguese Camino de Santiago, the proposed matrix enables the diagnosis of the entire route, as well as partial analysis, which …

The Effect Of Religious Tourism Experiences On Personal Values, Bona Kim, Seongseop (Sam) Kim

International Journal of Religious Tourism and Pilgrimage

For humans, happiness can be a consequence of positive behaviours and regarded as their ultimate goal (Seligman, 2004). Since the late 1990s, happiness has been a prominent topic in the field of positive psychology, which seeks, from a psychological perspective, to understand how to make people happier and help them lead more satisfactory lives (Peterson et al., 2005; Seligman, 2004). According to Authentic Happiness Theory (AHT), developed by positive psychologist Martin Seligman (2004), seeking life satisfaction is a long-lasting life concept. As the understanding of tourism experience has evolved to see it as a life-changing event for profound intra-transformation of …

‘Know Thyself And Change The World’: The Western Pilgrimage Narrative And South Asia, Dorothy Lane

International Journal of Religious Tourism and Pilgrimage

This paper summarises recurring elements of contemporary pilgrimage narratives related to South Asia and their role in neo-colonial ‘globalisation.’ While sacred sites are visited by both local and international pilgrims, their recreation as story cannot be regarded as innocent, interwoven as it is in historical domination and appropriation. The paper focuses on two contemporary narratives that draw on the motif of odyssey. It explores, in part, the increasing role of social media and technology in the most recent incarnations of the paradigm.

Accessibility On The Santiago Ways: The Portuguese Central Way, Maria De Fátima Matos Silva, Isabel Borges

International Journal of Religious Tourism and Pilgrimage

In this article the authors discuss the accessibility of religious architectural heritage, using the case of Santiago de Compostela and one of its routes: the Portuguese Central Way between Porto and Valença. The discussion includes a comparison with results obtained in a study of the itinerary between Tui and Santiago, made by Xunta de Galicia (2015), the only existing study to the best of our knowledge. The historical and theoretical framework draws on the extant literature and its critical review, related to religious and cultural tourism, with special emphasis on accessible tourism. Accessible Tourism must comprise a set of products …

Pilgrimage Of The Virgin Of Nazaré (Portugal): Religious And Cultural Itineraries, Isilda Leitão, Carlos Fernandes

International Journal of Religious Tourism and Pilgrimage

In Portugal, the Estremadura Círios (Candles pilgrimages) constitute one of the strongest surviving traditions of popular religiosity that are still present in the traditional and religious calendar of some Portuguese regions. Deriving from the tradition of religious devotion to Mary during the Middle Ages, sites such as the Shrine of Our Lady of Cabo Espichel, and prior to that the Shrine of Our Lady of Nazaré (Nazareth), generated a particular level of devotion by the 17th century, based on miracles which the Virgin of Nazaré granted to a local inhabitant. Since the 18th century, and the establishment of the Brotherhood …

Motivations Of Pilgrims On The Portuguese Inner Way To Santiago De Compostela, Carlos Gomes, Nieves Losada, Xerardo Pereiro

International Journal of Religious Tourism and Pilgrimage

Undertaking the way to Santiago today is characterised by being multi-motivational, not only attending to religious motivations (Amaro et al., 2018; Lois-González and Santos, 2014). In fact, the differences between the pilgrim and the tourist are increasingly smaller, because both travellers are motivated by the experience of realising the way and are looking for the same type of services (Amaro et al., 2018; Collins-Kreiner in Lois-González and Santos, 2014). The objective of this study is to make a comparison between the motivations of the Portuguese touripilgrims (Pereiro, 2017) and the foreign touripilgrims on the Portuguese Inner Way of Santiago de …

Determinants Of Intentions To Use A Pilgrimage App: A Cross-Cultural Comparison, Suzanne Amaro, Paulo Alexandre O. Duarte, Angela Isabel Lopes Antunes

International Journal of Religious Tourism and Pilgrimage

The main aim of this study is to examine which features pilgrims from six nationalities walking the Camino de Santiago most value in a pilgrimage app and to determine which ones most influence intentions to use it. Data were collected through an online questionnaire. The 911 responses were analysed using ANOVA and PLS-SEM. The features related to general information are the strongest predictor of intentions to use a pilgrimage app and there is only one significant difference among nationalities regarding the determinants of intentions to use it. The findings of the study are useful for the development of pilgrimage apps.

Biographical Motivations Of Pilgrims On The Camino De Santiago, Christian Kurrat

International Journal of Religious Tourism and Pilgrimage

The question of what leads people from a biographical perspective to go on pilgrimage has been a research object in the Department of Sociology at the FernUniversität in Hagen, Germany. This qualitative study examines the biographical constellations which have led to the decision to go on pilgrimage and therefore a typology of biographical motivations was developed. To achieve the aim of a typology, methods of qualitative research were used. The database consists of narrative interviews that were undertaken mostly with German pilgrims. The life stories of the pilgrims were analysed with Grounded Theory Methodology and made into a typology of …

In Defense Of The Pure Pilgrim: De Re Defensionibus Peregrini Castiori, Stephen F. Haller, Dane Munro

International Journal of Religious Tourism and Pilgrimage

Does the pure pilgrim exist? Probably not as a person, but the idea of a pure pilgrim is very much alive, although under threat. John Muir (2002), environmentalist and mountaineer, argued that there is a proper way to climb a mountain. By analogy, there is a virtuous way, allowing for meaningful, spiritual experiences which can be applied to proper peregrination. The early medieval ascetic understanding of pilgrims (St Jerome c. 347-420), was that of wandering monks, forsaking the bustling cities as to immerse themselves in the mercy of Christ in the solitude of the country (Webb, 2002). In modern times, …

Volume 7(Ii) Table Of Contents, Xose Santos, Lucrezia Lopez, Kevin Griffin, Razaq Raj

International Journal of Religious Tourism and Pilgrimage

No abstract provided.

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