Individual exchange rate forecasts and expected fundamentals

This paper suggests that exchange rates are related to economic fundamentals over medium-term horizons, such as a month or longer. We find from a large panel of individual professionals' forecasts that good exchange rate forecasts benefit from the proper understanding of fundamentals, specifically good interest rate forecasts. This relation is robust to individual fixed effects and further controls. Reassuringly, this relation is stronger during obvious fundamental misalignment. This occurs when exchange rates substantially deviate from their PPP values, when interest rate differentials are high and when exchange rates are less influenced by strong momentum. --Exchange Rate Determination,Individual Expectations,Macroeconomic Fundamentals

Information Archeology: Excavating Lessons from Past Successes

There bas k c n an eiionnous publicity push for the dramatic force of IT as a meam of business transformation as a new and dramatically different pbenoinenon. ?\u27Lie panel will discuss the results of a six-year analysis of six organizations that, in fact, uansformed themselves. In the process tliey developed an innovative IT design that so dominated their industry that finns either adopted or lost shares. Oue of the transformations occurred between 1956 and 1959, two in the 1 9 6 0 ~and three in clie 1980s. The process typically required five to six years. A common thread of all these organizations is that today thhcy are still leaders in the use of lT and they are extending their competitive edge through IT innovations. Most of Ihe companies are wcll hiowti for their exploits: American Airlines, American Hospital Supply-Baxter Travenol, USAA, atid Frito-Lay. The sleeper and earliest innovafor is the Bank of America. We have recently completed a Federal Express saga

Does the Sponsorship of Sports Entities by Gambling Organizations Conform to the Set of Benefits as Conceptualized in the Model of Sports Sponsorship?

One recent study produced a model that was structured based upon the benefits derived by four parties that are impacted by a sponsor’s decision to engage in the sponsorship of a sports entity. These sports entities may be a team, a league, an organization, an athlete, an event, or a sports venue. The interactions among the four categories of beneficiaries resulted in 12 discrete linkages. A total of 159 potential benefits, some tangible and some intangible, were documented. A second study examined the impact of a recent SCOTUS ruling that declared the Professional and Amateur Sports Protection Act (PASPA) to be unconstitutional. That ruling opened the floodgates for gambling organizations to become involved in sports betting which has further led to the sponsorship of sports entities. In that study, the authors noted 201 benefits that accrue to 14 different groups of beneficiaries that fall into four categories. The current study examines the extent to which the two studies are congruent. Does sponsorship by a gambling organization such as MGM Resorts emulate what one would anticipate with the sponsorship of a sports entity by a non-gambling entity such as Coca-Cola or Citibank

The Twelve Beneficiaries of Legalized Sports Betting: An Exploratory Assessment

The 2018 ruling by the United States Supreme Court essentially legalized sports betting across the nation. Prior to that ruling, sports books were restricted by virtue of the Professional and Amateur Sports Protection Act (PASPA). But with that landmark 6-3 decision, the opportunity door for sports betting has been opened for all 50 states. This paper focuses on two considerations regarding the opening of that door. Who are the potential beneficiaries and what benefits might they derive? A review of the literature identified twelve beneficiaries; among these beneficiaries are the teams, organizations, fans, sponsors, bettors, and society-in-general. The majority of the benefits revolve around financial considerations, but it is not always as straight-forward as cash. So, while the NBA is benefitting from a cash flow from its casino sponsor, society-in-general may be benefitting from enriched educational resources and a better infrastructure. This paper delineates potential benefits for each of the twelve beneficiaries that have been identified

Revisiting the Beneficiaries of the SCOTUS Ruling Striking Down PASPA

A Supreme Court ruling in 2018 essentially rendered restrictions on sports gambling to run counter to states’ rights, thus in conflict with the Constitution of the United States. As a consequence, 13 states and the District of Columbia now have legalized sports gambling. Initial research into the consequences of this ruling identified 12 potential beneficiaries. Subsequent research entailing an assessment of new literature and a survey of executive opinion involving a number of marketing executives who work within the field of sports marketing expanded the findings from the earlier study. This extension of the preliminary study found 14 beneficiaries rather than the original 12. Furthermore, the number of benefits accruing to the set of 14 beneficiaries increased from 149 to 201 with 14 of the 52 newly identified benefits accruing to the two newly identified beneficiaries – Native American Indian tribes and communications companies. Thus an additional 38 benefits for the original 12 beneficiaries were delineated

Revisiting the Beneficiaries of the SCOTUS Ruling Striking Down PASPA

A Supreme Court ruling in 2018 essentially rendered restrictions on sports gambling to run counter to states’ rights, thus in conflict with the Constitution of the United States. As a consequence, 13 states and the District of Columbia now have legalized sports gambling. Initial research into the consequences of this ruling identified 12 potential beneficiaries. Subsequent research entailing an assessment of new literature and a survey of executive opinion involving a number of marketing executives who work within the field of sports marketing expanded the findings from the earlier study. This extension of the preliminary study found 14 beneficiaries rather than the original 12. Furthermore, the number of benefits accruing to the set of 14 beneficiaries increased from 149 to 201 with 14 of the 52 newly identified benefits accruing to the two newly identified beneficiaries – Native American Indian tribes and communications companies. Thus an additional 38 benefits for the original 12 beneficiaries were delineated

Individual exchange rate forecasts and expected fundamentals

This paper suggests that exchange rates are related to economic fundamentals over medium-term horizons, such as a month or longer. We find from a large panel of individual professionals' forecasts that good exchange rate forecasts benefit from the proper understanding of fundamentals, specifically good interest rate forecasts. This relation is robust to individual fixed effects and further controls. Reassuringly, this relation is stronger during obvious fundamental misalignment. This occurs when exchange rates substantially deviate from their PPP values, when interest rate differentials are high and when exchange rates are less influenced by strong momentum

Winter Body Mass and Over-Ocean Flocking as Components of Danger Management by Pacific Dunlins

Background: We compared records of the body mass and roosting behavior of Pacific dunlins (Calidris alpinapacifica) wintering on the Fraser River estuary in southwest British Columbia between the 1970s and the 1990s.‘Over-ocean flocking’ is a relatively safe but energetically-expensive alternative to roosting during the high tideperiod. Fat stores offer protection against starvation, but are a liability in escape performance, and increase flightcosts. Peregrine falcons (Falco peregrinus) were scarce on the Fraser River estuary in the 1970s, but their numbershave since recovered, and they prey heavily on dunlins. The increase has altered the balance between predationand starvation risks for dunlins, and thus how dunlins regulate roosting behavior and body mass to manage thedanger. We therefore predicted an increase in the frequency of over-ocean flocking as well as a decrease in theamount of fat carried by dunlins over these decades.Results: Historical observations indicate that over-ocean flocking of dunlins was rare prior to the mid-1990s andbecame common thereafter. Residual body masses of dunlins were higher in the 1970s, with the greatestdifference between the decades coinciding with peak peregrine abundance in October, and shrinking over thecourse of winter as falcon seasonal abundance declines. Whole-body fat content of dunlins was lower in the 1990s,and accounted for most of the change in body mass.Conclusions: Pacific dunlins appear to manage danger in a complex manner that involves adjustments both in fatreserves and roosting behavior. We discuss reasons why over-ocean flocking has apparently become morecommon on the Fraser estuary than at other dunlin wintering sites

Learn What the Luxury Suite Customer Wants!

In the current difficult economy and global marketplace, there is more competition than ever for businesses to earn and retain sales from customers in each of their respective industries. That is no different in the sports and entertainment industry, particularly in luxury suite sales for stadiums, arenas, and ballparks. In many instances, companies are asking customers about their preferences in regards to current product offerings and about innovations within their company and industry. By listening to the voice of the customer, companies can increase sales, improve client relationships, add to current product offerings, create new and innovative products, and earn a competitive advantage for their organization in their respective marketplace. Professional teams are calling on sales people in their luxury suite and premium ticketing departments to retain clients, generate new revenue, and improve current profit margins on products. The problem is that companies purchasing luxury suites and premium tickets to sporting events are having a difficult time justifying these expensive purchases. The economy has resulted in the cutting of jobs, but the retaining of sports luxury seating contracts. Salespeople need to more accurately provide what the customer wants and prove that the suite was a worthwhile investment. By utilizing this feedback other sports and entertainment organizations can evaluate their current selling process to determine if they may have misjudged their own customers. They can also learn how to better bridge the gap between the salesperson and the customer

Assessing Sport-Sales Training Effectiveness: To Enhance Sales Performance of Prospective Sales Employees

The majority of entry-level positions within the sport industry fall in the area of sales. Yet, only recently have sportmanagement programs begun to offer courses devoted to sales education and training. The discipline of sales provides an ideal opportunity to incorporate experiential-based learning. While several recent articles have examined the application of experiential-learning to courses focused on ticket sales, this article presents the results of the first systematic assessment of such courses’ effectiveness. Specifically, this paper presents the results of an evaluation of sales-training programs that incorporate Southall, Nagel, LeGrande, and Han’s (2003) metadiscrete experiential learning model and the application of this model to a sport-sales specific curriculum as presented by Irwin, Southall and Sutton (2007). Among sampled students (N = 261), survey results revealed significant differences in all assessed categories related to students’ knowledge, skills and attitudes related to sport sales. This article discusses study findings and significance of conclusions for future sport-management program development