In recent years, there has been an increase in international tourist arrivals worldwide. In this respect, Art Cities are among the most favorable tourist destinations, as they exhibit masterpieces of art and architecture in a cultural environment. However, the so-called phenomenon of overtourism has emerged as a significant threat to the residents’ quality of life, and, consequently, the sustainability of Art Cites. This research aims to develop a management toolkit that assists site managers to control tourism flows in Art Cities and World Heritage Sites and promotes the residents’ quality of life. The research methodology was developed within the framework of the Atlas Project in 2019. In this project, five European Art Cities, including Florence, Edinburgh, Bordeaux, Porto, and Santiago de Compostela, discussed their common management challenges through the shared learning method. After developing selection criteria, the Atlas’ partners suggested a total of nine strategies as best practices for managing overtourism in Art Cities in multiple sections of accommodation policies, monitoring tactics, and promotional offerings. The Atlas project was conducted before the outbreak of the COVID-19 virus pandemic. Based on the current data, it is somehow uncertain when and how tourism activities will return to normal. The analysis of the Atlas findings also highlights some neglected dimensions in the current strategies in terms of environmental concerns, climate change impacts, crisis management, and cultural development plans, which require further research to boost the heritage planning process.
Our study investigates whether stakeholder engagement is associated with a firm's valuation and the value relevance of accounting earnings. Since prior literature posits that the economic consequences of such practices may depend on the specific environment in which they are adopted, we also explore whether these associations are affected by the cultural traits of the country in which a firm operates. Based on a worldwide sample of firms for the period 2002 to 2014, we document that stakeholder engagement positively influences market-to-book value of equity, without enhancing the value relevance of firm's accounting earnings. Drawing on Schwartz's cultural framework, we show that the results hold only in countries with a low (high) level of embeddedness and hierarchy (mastery). Our study contributes to the literature exploring the economic consequences of non-financial information and the importance of institutional characteristics for economic outcomes.Prior literature suggests that the perception of CSR activities critically depends on country characteristics (Agudo-Valiente et al., 2015). As noted in the section Value Relevance of Stakeholder Engagement, these may drive prior
46L. Dal Maso et al.Schwartz (2008) has a more comprehensive description of the value items contained in each of the seven cultural dimensions (i.e., autonomy is specified in intellectual and affective autonomy).
Intellectual capital (IC) as well as disclosure of information on IC has in recent years gained importance. IC is the key issue in strengthening a firm’s competitive position and in achieving its objectives. The purpose of this study is to investigate some determinants of the disclosure of IC in annual reports. In particular the aim of this research is to analyse the internal mechanisms of corporate governance (board composition, role duality, ownership structure, auditor type and size of audit committee), which influence the intellectual capital disclosure in corporate annual reports for a sample of all listed Italian firms at 31st December 2010. It has been used a disclosure index as a dependent variable, (ICD), and the method used to measure it is content analysis.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.