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The purpose of this study involves analysing the factors of and barriers to innovation and their respective impacts (directly and indirectly) on the competitiveness of both destination and their host companies.

Based on primary data collected by questionnaire from a sample of 119 companies operating in the tourism sector in the autonomous region of Madeira (Portugal), the authors applied a quantitative methodology with recourse to econometric models and multiple linear regression.

Comprehensive results based on a conceptual model are obtained through the analysis of competitiveness tourism-based and innovation factors. The study identifies and empirically tests the existing and underlying relationships between innovation (factors and barriers) as the means of leveraging the competitiveness of destinations and their companies.

The results hold important theoretical and practical implications contributing towards innovation for competitiveness and filling a shortcoming identified in the literature.

This study aims to analyze the contribution of tourist event and satisfaction with tourism events as a product of regional tourism competitiveness, as well as evaluate factors of competitiveness.

The research followed a quantitative methodology by conducting a questionnaire on the four largest tourist events in Madeira (Carnival, Flower Festival, Atlantic Festival and Wine Festival), an insular island located in Portugal.

The sample consisted of 2,262 tourists surveyed during the year 2017 and structural equation models were used as the statistical method. Results showed that satisfaction is reflected in the client's loyalty to the choice of a tourist destination and also contributes directly and indirectly to the regional tourist competitiveness.

This study contributes to the valorization of local and regional events, perceived by the level of satisfaction and loyalty of tourists, as products of regional competitiveness of a tourist destination.

The purpose of this paper is to identify, measure and optimise financial risk and its effect on returns from innovation projects on an accrual basis and on a cash basis in a commodity industry.

A hypothetical case study, based on a real case, of a petrochemical commodity industry in Brazil was analysed with commodities pricing rules based on actual contracts. Earnings at risk (EaR) and cash flow at risk (CFaR) measures were applied, as well as a metric proposed in this paper called cash balance at risk (CBaR).

The paper demonstrates that financial risk measurement and optimisation are important issues in the decision-making process in the petrochemical industry. EaR, CFaR and CBaR measures are helpful when used alongside standard procedures of project evaluation. The findings also show that innovative technologies, in certain conditions, may act as “natural hedging”. It was found that the time delay between revenues and expenses leads to financial risk exposure to changes in prices and foreign exchange rates. Projects can use financing and hedging to boost their results.

An innovative project was compared with an expansion project in a petrochemical industry. A model for petrochemical commodities contract pricing was added in an analysis that included financing and hedging. The findings in this paper suggest that it is important to consider financial risk measures in project evaluation.

O objetivo deste trabalho é identificar, medir e otimizar o risco financeiro e seus efeitos sobre os resultados de projetos com inovação, tanto na perspectiva do regime contábil quanto do regime de caixa, em uma indústria de commodities.

Um estudo de caso hipotético, baseado em um caso real de uma indústria petroquímica brasileira, foi analisado com regras de precificação de commodities baseados em contratos reais. As métricas Earnings at Risk (EaR) e Cash Flow at Risk (CFaR) foram utilizadas, assim como uma métrica proposta neste trabalho, denominada Cash Balance at Risk (CBaR).

Este artigo demonstrou que a mensuração e otimização do risco financeiro são questões importantes no processo de tomada de decisão em uma indústria petroquímica. As medidas EaR, CFaR e CBaR se apresentaram como contribuições ao processo padrão de avaliação de projetos. Os resultados também demonstraram que inovações tecnológicas, em certas condições, podem funcionar como um “hedge natural”. Foi verificado que descasamentos temporais entre recebimentos e despesas geram uma exposição financeira a oscilações em preços e em valores de moedas estrangeiras. Financiamento e hedge podem ser utilizados em conjunto para aprimorar resultados de projetos.

Um projeto com inovação foi comparado com um projeto de expansão em uma indústria petroquímica. Foi realizada uma analise de risco que agrega ao financiamento e ao hedge o uso de contratos de precificação de commodities. Os resultados desse projeto demonstram que é importante considerar medidas de risco financeiro nas avaliações de projetos.

This study aimed to detect the relationships between mindfulness and events participation, and then between the later and psychological empowerment.

The proposed model's underlying hypotheses were empirically tested with data collected through an online survey addressed to a convenience sample of frequent leisure participants (n = 199). The authors applied the structural equation model (SEM) to confirm the aforementioned relationships. To assess the adequacy of the psychometric properties of the measures, the authors performed a confirmatory factor analysis of the measurement model, with a maximum likelihood estimation method.

Under the effects of the lockdown period environment, the results express a positive relationship between a mindful state of mind – related to observation/attention – and the yearnings and perceptions about the participation in events. This relationship for consistency was proven to be moderated by the perception of the participation importance to the individual subjective well-being/mental health. Due to participation insights, there was a positive effect on psychological empowerment, supporting the relationship that had been hypothesized.

The authors propose and test a new model that contributes to the theory and examines how mindfulness behavior can effect more alluring and intense participation in events and what are the anticipated outcomes in terms of psychological empowerment.

The purpose of this paper is to get insights on a real-life portfolio of events from a demand-centred prospective, based on the identification of factors influencing the degree of attendee’s satisfaction, with the ultimate aim of identifying commonalities and prospective cross-leverage strategies among events.

Data from attendees to three major events taking place in Funchal, the capital city of Madeira, were analysed based on multivariate statistics and categorical regression owing to the overwhelming presence of categorical data in the database. The econometric analysis pursued in this paper is based on a sample of 1,830 tourists.

The research demonstrates that the impact of the socio-economic variables and travel arrangements on attendees’ satisfaction is rather irrelevant, irrespective of the event under analysis, with cross-cutting factors defining the overall quality of any event (mainly technical aspects such as aesthetical elements, organization and opening hours) determinant in predicting the overall degree of satisfaction. Another key finding relates to the existence of a number of commonalities among events, in terms of tourists’ profiles, market orientation, themes and resources laying ground to define ready-to-apply cross-leverage strategies.

The analysis concentrated on three major events taking place in the capital city of a peripheral region. The content of the questionnaire co-developed with the destination management organization with order to get access to a large sample of respondents.

Lessons to be learnt in terms of managing a disparate collection of events developed over time in an ad hoc manner. A few examples of cross-leverage strategies are put forward.

The analysis and empirical content portrayed in this study contribute to the literature on event portfolio via description of real-life case examples of how to develop competencies based on post-event analysis in a proactive manner.

In total, 19 practices of circular economy divided into three groups, internal environmental management, ecological design and investment recovery were studied in a local network composed of small companies and individual entrepreneurs related to common product and by-product flows. The paper aims to discuss these issues.

This research presents an applied nature, is characterized as exploratory and adopted the case study as a technical procedure using sources and methods of data collection. The primary data were collected through direct observation of the processes and semi-structured interviews with managers and owners.

The most widespread practices are related to product design. However, in most cases, the implementation was punctual and did not present continuous and corresponding actions, which highlights the embryonic contours of European Commission (EC) in the observed network. The practices from the management category were less observed, which revels the environmental variable is not included in the strategic business planning.

The research documents the application of CE practices in a local network and brings this current paradigm shift to the Brazilian context.

To overcome barriers to the implementation of EC practices, it is suggested to restructure commercial relations, to formulate public policies and to develop infrastructures that facilitate the materiality of flows and the market.

The study highlights the need of public policies that promotes cross-sectoral cooperation in accordance with NSWP objectives.

Despite the focus on EC implemented practices this study offers a framework of the research routes on the main barriers and suggests actions to overcome the challenges in the transition from the economy to the circular model.

This work presents a model of a two-period economy to discuss the link between the precautionary motivation for holding international reserves and the country's monetary policy concerns due to a crisis.

There are two possible states of nature in the second period of the economy: a normal state and a crisis state. These states of nature represent uncertainty to the policy maker and he can insure against a crisis. The household has a constant-elasticity-of-substitution (CES) utility function, where utility depends on consumption and money.

By allowing money in the utility function and in the household financial constraint and considering that the objective of the central bank is to smooth inflation, it is concluded that monetary policy plays a role in the precautionary motivation of holding international reserves.

The model can be used to calculate optimal reserves holdings in its complete or even in its simplified version. Furthermore, it is possible to evaluate the impact of the intra-temporal substitution elasticity between consumption and real money in the decision of accumulating international reserves.

Higher intra-temporal substitution elasticities implies in more insurance via international reserves, and this discussion is not found in the existent literature on international reserves.

Purpose: This study examines the effect of uncertainties on the hospitality industry from different perspectives across the globe. The hospitality industry faces several contemporary issues and challenges that have the potential to impact its growth and development. This study aims to analyse the current problems and uncertainties in the hospitality sector.

Need for the Study: The hospitality industry plays a significant role in the global economy with various services, including accommodation, food and beverage, events, and tourism. However, the sector faces several contemporary issues and challenges that have the potential to impact its growth and development. This study provides an overview of the most significant problems and challenges facing the hospitality industry today.

Methodology: A systematic literature review was conducted to identify and synthesise relevant studies on the effect of uncertainties issues on the hospitality industry. A systematic search of the Web of Science and Scopus databases was conducted to determine relevant studies published between 2010 and 2021. Studies were screened and selected based on pre-defined inclusion and exclusion criteria. A thematic analysis was performed to categorise the uncertainties and issues in the hospitality industry.

Findings: The study identified several uncertainties and issues facing the hospitality industry, including the pandemic uncertainties, financial crisis, whether positive and negative impacts, terrorism attacks on hotels and tourist places, uncertainties in government policies, situational risks like uncertainties, ambiguity, cultural differences, changes in tourist preferences and changing habits of the tourist.

This paper aims to develop a model to predict online review ratings from multiple sources, which can be used to detect fraudulent reviews and create proprietary rating indexes, or which can be used as a measure of selection in recommender systems.

This study applies machine learning and natural language processing approaches to combine features derived from the qualitative component of a review with the corresponding quantitative component and, therefore, generate a richer review rating.

Experiments were performed over a collection of hotel online reviews – written in English, Spanish and Portuguese – which shows a significant improvement over the previously reported results, and it not only demonstrates the scientific value of the approach but also strengthens the value of review prediction applications in the business environment.

This study shows the importance of building predictive models for revenue management and the application of the index generated by the model. It also demonstrates that, although difficult and challenging, it is possible to achieve valuable results in the application of text analysis across multiple languages.

The present study analyses patterns of seasonal tourist consumption, based on data collected in the Minho, a rural region situated in the Northeast of Portugal. The study aims at identifying and discussing main differences regarding socio-demographic profile and tourist behavior between tourists visiting the destination in the high, medium, and low season. Results permit a discussion of implications on destination management and marketing. More specifically, the understanding of these differences, considering the existing resources, constraints, and potentialities of the destination, shall help develop strategies yielding the diversification of demand, creating conditions for attracting, satisfying, and possibly ensuring loyalty of different tourist types in different seasons of the year (Jeffrey, D., & Barden, R. (2001). An analysis of the nature, causes and marketing implications of seasonality in the occupancy performance of English hotels. In T. Baum & S. Lundtorp (Eds.), Seasonality in tourism (pp. 119–140). Amsterdam: Pergamon). That is, the here discussed results should help strategically manage demand yielding sustainable destination development (Kastenholz, 2004).