Social and Behavioral Sciences Commons^™

Exchange Rate Overvaluation Under Hyperinflation : The Case Of Peru, Rafael Amiel-Saenz

FIU Electronic Theses and Dissertations

This dissertation examines the behavior of the exchange rate under two different scenarios. The first one is characterized by, relatively, low inflation or a situation where prices adjust sluggishly. The second is a high inflation economy where prices respond very rapidly even to unanticipated shocks. In the first one, following a monetary expansion, the exchange rate overshoots, i.e. the nominal exchange rate depreciates at a faster pace than the price level. Under high levels of inflation, prices change faster than the exchange rate so the exchange rate undershoots its long run equilibrium value.

The standard work in this area, Dornbusch …

Inflation, Currency Substitution, And Dollarization : The Case Of Argentina, Eugenio J. Alemán

FIU Electronic Theses and Dissertations

This dissertation discusses the relationship between inflation, currency substitution and dollarization that has taken place in Argentina for the past several decades.

First, it is shown that when consumers are able to hold only domestic monetary balances (without capital mobility) an increase in the rate of inflation will produce a balance of payments deficit. We then look at the same issue but with heterogeneous consumers, this heterogeneity being generated by non-proportional lump-sum transfers.

Second, we discussed some necessary assumptions related to currency substitution models and concluded that there was no a-priori conclusion on whether currencies should be assumed to be …

Financial Planning By Contract Food Service Management Companies, Raymond S. Schmidgall Ph.D., Cpa

Hospitality Review

Drugs in the workplace is a growing problem that threatens a valuable human resource - the employee. Managers in the hospitality industry can take a proactive stance in meeting the problem head on. The authors discuss what managers can do.

Financial Ratios: Perceptions Of Lodging Industry General Managers, And Financial Executtves, Raymond S. Schmidgall Ph.D., Cpa

Hospitality Review

Financial ratios are the most meaningful information in financial statements to executives and managers. The author analyzes the results of two surveys designed to rank the degree of importance and usefulness of these ratios to several user groups.

Understanding Annual Reports Of Hospitality Firms, Elisa S. Moncarz

Hospitality Review

In her discussion - Understanding Annual Reports of Hospitality Firms - by Elisa S. Moncarz, Associate Professor, School of Hospitality Management, Florida International University, Associate Professor Moncarz initially offers: “Management bears full responsibility for the reporting function of annual reports prepared by publicly-held companies designed to provide interested parties with information that is useful in making business and economic decisions. In Part I the author reviews the content of annual reports of firms in the hospitality industry, while looking at recent developments affecting annual reports. Part 11, in a subsequent issue, will comprise an in-depth examination of the annual report …

Participative Budgeting And Participant Motivation: A Review Of The Literature, Frederick J. Demicco, Steven J. Dempsey

Hospitality Review

In their discussion - Participative Budgeting and Participant Motivation: A Review of the Literature - by Frederick J. Demicco, Assistant Professor, School of Hotel, Restaurant and Institutional Management, The Pennsylvania State University and Steven J. Dempsey, Fulton F. Galer, Martin Baker, Graduate Assistants, College of Business at Virginia Polytechnic Institute and State University, the authors initially observe: “In recent years behavioral literature has stressed the importance of participation In goal-setting by those most directly affected by those goals. The common postulate is that greater participation by employees in the various management functions, especially the planning function, will lead to improved …

Managing Strategic Change, K. Michael Haywood

Hospitality Review

The essay - Managing Strategic Change – by K. Michael Haywood, Associate Professor, School of Hotel and Food Administration, University of Guelph, is initially characterized by Haywood as: “The ability to manage strategic change is critical for hospitality industry executives today. Executives must be capable of creating a vision of the future and implementing its direction. The author gives avenues for that management process.”

“The effective management of strategic change is the major challenge confronting hospitality executives,” says Associate Professor Haywood. “Responding to a rapidly changing business environment and constantly evolving competitive threats and opportunities requires executives who can anticipate …

An Analysis Of Stock Market Performance:The Dow Jones Industrial Average And The Three Top Performing Lodging Firma: 1982-1988, N H. Ringstrom, Elisa S. Moncarz

Hospitality Review

In their dialogue - An Analysis of Stock Market Performance: The Dow Jones Industrial Average and the Three Top Performing Lodging Firms 1982 – 1988 - by N. H. Ringstrom, Professor and Elisa S. Moncarz, Associate Professor, School of Hospitality Management at Florida International University, Professors Ringstrom and Moncarz state at the outset: “An interesting comparison can be made between the Dow Jones lndustrial Average and the three top performing, publicly held lodging firms which had $100 million or more in annual lodging revenues. The authors provide that analytical comparison with Prime Motor Inns Inc., the Marriott Corporation, and Hilton …

Anarchy In The Airways, Joseph C. Von Kornfeld

Hospitality Review

In his dialogue - Anarchy In The Airways - Joseph C. Von Kornfeld, Assistant Professor, College of Hotel Administration, University of Nevada, Las Vegas initially states: “Deregulation of the airline industry has brought about financial vulnerability for the traveling public. The author analyzes the situation since that point in time and makes recommendations for some solutions.”

In this article, Assistant Professor Von Kornfeld, first defines the airline industry in its pre-regulated form. Then he goes into the ramifications and results of deregulating the industry, both in regards to the consumer, and in deregulation’s impact on the airlines themselves.

“The most …

Restructuring In The Hospitality Industry, Elisa S. Moncarz

Hospitality Review

In her dialogue entitled - Restructuring in the Hospitality Industry - Elisa S. Moncarz, Associate Professor, the School of Hospitality Management at Florida International University, intends for you to know the following: “Recent years have seen a proliferation of restructurings of major American corporations creating an extremely important issue that has affected U.S. business. This article discusses restructuring issues in the hospitality industry, focusing attention on its causes and motivations, as well as on its benefits and perils. The author considers the impact of restructuring on investors and management while examining recent restructurings involving hospitality firms.”

In defining the concept …

Managing Risk: Identifying And Controlling Losses And Assuming Risks From Perils, K. Michael Haywood

Hospitality Review

Financial survival in the hotel and restaurant business can depend upon a mastery of the basic principles of risk management. This article explains the series of steps leading to the successful implementation of the risk management techniques most appropriate for a given hotel or restaurant.

Overcoming The Impotency Of Marketing, K. Michael Haywood

Hospitality Review

In his dialogue titled - Overcoming The Impotency Of Marketing - K. Michael Haywood, Assistant Professor, School of Hotel and Food Administration, University of Guelph, originally reveals: “Many accommodation businesses have discovered that their marketing activities are becoming increasingly impotent. To overcome this evolutionary stage in the life cycle of marketing, this article outlines six principles that will re-establish marketing's vitality.”

“The opinion of general managers and senior marketing, financial, and food and beverage managers is that the marketing is not producing the results it once did and is not working as it should,” Haywood advises.

Haywood points to price …

Industry Expresses Attitudes Toward Accounting, Finance Curricula, Charles L. Ilvento

Hospitality Review

A survey of hospitality financial executives provides guidance for those planning accounting and finance curricula for schools of hospitality management. The authors discuss the results of their survey sponsored by the Association of Hospitality Financial Management Educators.

Alternative Financing Sources And Their Impact On Profitability, John Stefanelli

Hospitality Review

This article explores the advantages and disadvantages of various financing alternatives for the hospitality industry and discusses their potential effect on the profitability of the firm. The author provides background and perspective for developing the appropriate financing arrangement for a specific hospitality enterprise.