Accounting and Finance - Book Chapters
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Item Spatial effects in regional tourism firm births and deaths(Springer Nature Switzerland AG, 2020-12-17) Power, Bernadette; Doran, Justin; Ryan, GeraldineAgglomeration economies are benefits that firms obtain when they locate close to one another or are constrained spatially. Tourism is heavily reliant on agglomeration economies rather than mere resource endowments. Policy formation requires an understanding of how tourism agglomeration impacts entrepreneurship within regions. In this chapter, we focus on how agglomeration economies impact enterprise birth and death rates within the tourism sector in Ireland using a comprehensive dataset on tourism firm births and deaths. Agglomeration economies have been studied in the area of regional economic growth and prosperity, but less is known about the extent to which spatial agglomeration economies affect regional firm births and deaths in the tourism sector. Our results provide evidence of positive spatial dependence in regional tourism enterprise births and deaths. Co-location of a diverse set of complementary enterprises fosters greater tourism enterprise births. Greater local specialisation rather than diversity lowers regional tourism enterprise deaths.Item Strategic investment appraisal: multidisciplinary perspectives(Emerald Publishing Limited, 2017) Alkaraan, Fadi; Cooper, Cary L.; Finkelstein, SydneyMergers and acquisitions (M&A) are arguably one of the CEOs greatest challenges, and there is a critical need to get these decisions right. It is clear that no single theory is adequate to describe or inform how M&A are evaluated in uncertain conditions, but there are several that offer partial explanations or at least contribute toward our understanding of how managers can deal with the uncertain environment and assess the likely risks associated with M&A. The literature suggests how relevant theories might be aggregated to make sense of strategic investment decision and investment appraisal techniques in an organizational context and considers the implications for further research in this important area of M&A. This chapter focuses on strategic investment appraisal, and draws together a variety of theoretical perspectives, especially from the field of psychology, which may be unfamiliar to both scholars in and practitioners.