• Decreasing investment-cash flow sensitivity: Further UK evidence

      Machokoto, Michael; Tanveer, Umair; Ishaq, Shamaila; Areneke, Geofry; University of Northampton; University of Bristol; University of Derby; Manchester Metropolitan University (Elsevier, 2019-12-12)
      Using publicly listed firms in the UK, we examine the time-series variation of investment-cash flow sensitivity after directly controlling for future growth opportunities in cash flow, which if overlooked, as in the literature, could bias inferences. We find that investment-cash flow sensitivity is disappearing over time, even for constrained firms during the global financial crisis when credit constraints were more significant or binding. Our results not only confirm the decline in investment-cash flow sensitivity that is not explained by factors so far identified in the literature but also its diminishing usefulness as a proxy of financial constraints.
    • Hotel social media metrics: The ROI dilemma.

      Michopoulou, Eleni; Moisa, Delia Gabriela; University of Derby; Manchester Metropolitan University (Elsevier, 2018-06-11)
      This study offers a perspective of social media performance measurement techniques adopted by hoteliers, with a focus on financial returns. The research adopted a qualitative approach, data was collected through semi-structured, open-ended interviews. Findings indicate that ROI is understood as an umbrella concept, where engagement rates, customer response and volume of likes and comments are most important. However, the element of ROI in the form of financial outcomes derived from social media remains elusive. This research contributes to social media adoption literature by investigating current social media measurement practices within the hospitality industry. While hotel managers employ diverse strategies for social media deployment, the focus on the effectiveness of these strategies is questionable, particularly considering financial metrics. This study presents key metrics currently used, but more importantly highlights which aspects of social media performance measurement are neglected and the gap they create in assessing social media strategies holistically and effectively.
    • Multiple disadvantage and wage growth: The effect of merit pay on pay gaps

      Woodhams, C; Lupton, B; Perkins, G; Cowling, M; University of Exeter; Manchester Metropolitan University; Brighton Business School (Wiley, 24/02/2015)
      This article concerns rates of wage growth among women and minority groups and their impact on pay gaps. Specifically, it focuses on the pay progression of people with more than one disadvantaged identity, and on the impact of merit pay. Recent research indicates that pay gaps for people in more than one disadvantaged identity category are wider than those with a single‐disadvantaged identity. It is not known whether these gaps are closing, at what rate, and whether all groups are affected equally; nor is it known whether merit pay alleviates or exacerbates existing pay gaps. In addressing these issues, the analysis draws on longitudinal payroll data from a large UK‐based organization. Results show that pay gaps are closing; however, the rate of convergence is slow relative to the size of existing pay disparities, and slowest of all for people with disabilities. When the effect of merit pay is isolated, it is found to have a small positive effect in reducing pay gaps, and this effect is generally larger for dual/multiple‐disadvantaged groups. These findings run counter to the well‐established critique of merit pay in relation to equality outcomes. The implications of this are discussed, and an agenda for research and practice is set out. © 2015 Wiley Periodicals, Inc.
    • The role of culture on online search behaviour: A comparative study between British and Chinese travellers

      Michopoulou, Eleni; Moisa, Delia; University of Derby; Manchester Metropolitan University (Springer International Publishing, 2016-01-23)
      This study explores the role of culture and its impacts on travellers’ online information search behaviour. The study is focused on two culturally diametric countries: United Kingdom and China (Hofstede, Psychology and Culture, 2011) and they have been selected as case studies, representing values from the Western and the Asian cultures. The research adopted a qualitative approach, and data was collected through interviews in order to enhance the understanding on the subject studied. Findings indicate that culture influences considerably the travellers’ behaviour in the online environment, and as a result of this influence, different behavioural patterns between the British and the Chinese travellers emerged. Conclusions discuss the implications for marketers aiming at the British and the Chinese tourists, and they highlight the need to adopt different strategies in designing and promoting their tourism products for these two particular markets
    • The snowballing penalty effect: Multiple disadvantage and pay

      Woodhams, Carol; Lutpon, Ben; Cowling, Marc; University of Exeter; Manchester Metropolitan University (Wiley, 2013-06-26)
      This paper makes the case that the current single-axis approach to the diagnosis and remedy of pay discrimination is inadequate in the case of multiple disadvantage. While a good deal is known about pay gaps, particularly those affecting women, less is known about those affecting people in other disadvantaged groups and those in more than one such group. This analysis of multiple years of pay data, n = 513,000, from a large UK-based company shows that people with more than one disadvantaged identity suffer a significantly greater pay penalty than those with a single disadvantage. The data also suggest that penalties associated with multiple disadvantage exponentially increase. In other words, disadvantages seem to interact to the detriment of people at ‘intersections’. The paper considers the implications for policies aimed at reducing pay inequalities. These currently take a single-axis approach and may be misdirected.