scholarly journals The effect of novel coronavirus pandemic on tourism share prices

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Venus Khim-Sen Liew
Keyword(s):  
Ordinary Least Squares ◽  
Tourism Industry ◽  
Rapid Decline ◽  
Business Services ◽  
Early Effect ◽  
Content Type ◽  
Share Prices ◽  
Novel Coronavirus ◽  
Online Travel ◽  
Airline Tickets

Purpose This paper aims to provide swift feedback to readers and investors on the early effect of novel coronavirus (COVID-19) pandemic outbreak on tourism industry. Design/methodology/approach Three leading consolidators of hotel accommodations, airline tickets and travel services in the tourism industry around the globe, namely, Booking Holdings Inc., Expedia Group and Trip.com Group Ltd. are chosen in this study. First, numerical description is performed on their shares prices and a set of control variables to compare their performances before and during the lockdown because of COVID-19 outbreak. Next, this paper estimates ordinary least squares models with and without exponential generalized autoregressive conditional heteroskedastic specification to establish the nature, significance and magnitude of the pandemic’s early effect on the shares performance of these online travel companies (OTCs). Findings This paper discovers a rapid decline in the performance of tourism industry amid the pandemic outbreak, from the perspective of three leading OTCs, which derive their profits from tourists by providing them online hotel reservation, air-ticketing and packaged-tour business services around the globe. These significant adverse direct and indirect effects testify that tourism-related businesses are extensively locked down by the pandemic outbreak. Research limitations/implications Future studies are encouraged to examine each of the tourism sectors for individual effects. Practical implications This paper provides implications for investors to protect their wealth, and for policymakers to ensure sustainability of tourism industry in the pandemic outbreak and in the future. Originality/value From the perspective of corporate finance, this paper empirically quantifies the early effect of COVID-19 on tourism industry for a quick snapshot.

Curvilinear effects of e-loyalty in China’s online tourism industry

2017 ◽  
Vol 8 (2) ◽  
pp. 174-189 ◽  
Author(s):  
Xueyan Yang ◽  
Xiaoni Zhang ◽  
Samuel Goh ◽  
Chad Anderson
Keyword(s):  
Virtual World ◽  
Online Community ◽  
Linear Models ◽  
Virtual Community ◽  
Tourism Industry ◽  
Consumer Loyalty ◽  
Content Type ◽  
Factors Influencing ◽  
Travel Industry ◽  
Online Travel

Purpose The purpose of this paper is to understand e-loyalty in the travel industry. Specifically, this paper aims to examine the curvilinear relationship between predictors and e-loyalty. Design/methodology/approach An empirical study was conducted using an online survey with one of the largest travel companies in China. Structural equation modeling was used to test the models, and pair-wise nested F-tests were used to compare the models. Findings Results show that the curvilinear model has greater explanatory power of loyalty than traditional linear models. The results of pair-wise nested F-tests show that the loyalty model exhibits statistically significant R2 improvement compared to the linear model. However, the R2 improvement in the integrated model is not statistically different from that in the linear model. Confirmation and satisfaction are found to be salient factors influencing loyalty. Research limitations/implications This study makes important contributions to the online community literature by understanding the drivers of loyalty in the travel industry. However, there are limitations. First, this study addressed member loyalty of an online travel community with data collected from one company. Thus, generalizability is limited. Online communities and firms may have different characteristics, resulting in different factors influencing consumer loyalty. The authors plan in the future to collect data from other online travel companies and examine their model with different samples so as to check the generalizability of the current findings. Second, the authors collected a snapshot view on loyalty. Both researchers and managers note that small changes in loyalty and retention can yield disproportionately large changes in profitability (Reichheld et al., 2000). Consumer loyalty may change over time, so to maintain and increase profits, it is important to monitor such change. In the future, the authors plan to conduct a longitudinal study of community members to evaluate their loyalty over time. Practical implications As China seeks to gain additional market share in the global tourism market, travel companies should make use of websites as a marketing tool to attract and retain customers. These actions enable a travel company to enhance its competitiveness. More and more people use the internet for tour deals, bookings and finding tour-related information. Effective use of websites can affect the competitiveness of ecommerce companies. E-vendors could assess and adopt the dimensions recommended in this paper to help better understand areas for improvement. It is common today for consumers to buy travel products online instead of going through a travel agent. Considering the importance of reciprocity in formulating consumer satisfaction and loyalty in the virtual environment, companies should monitor reciprocal behavior on the virtual community. With advancement in technologies, consumer behaviors have changed and more consumers prefer social interactions in the virtual world. Companies can analyze posts in the virtual environment to assess reciprocity and may design a mechanism to foster reciprocal behaviors. By leveraging reciprocity, firms can better connect satisfaction with loyalty. More than 70 per cent of executives surveyed by McKinsey (2012) said that they regularly generate value through their Web communities. In addition, to pay attention to consumer to consumer reciprocity in the virtual world, companies should listen to what customers say in their online community, as this attention is an indication of reciprocity between consumers and companies. The ideas and opinions expressed in the online community tell the company customers’ perception of the value of its products and customers’ needs. Such attention to the voices in the online community will help companies to better tailor products/services to meet customers’ needs. Furthermore, the voices expressed in the virtual community are also effective in developing and maintaining new internet marketing opportunities such as email marketing, giveaways, search engine optimization, pay per click and shopping comparison marketing. Companies interested in retaining and attracting customers should leverage their established virtual communities and pay close attention to online posts and evaluate members’ satisfaction. Such effort will provide tangible benefits. As shown in Ye et al.’s study, traveler reviews produce a significant impact on online sales (Ye et al., 2011), with a 10 per cent increase in traveler review ratings, boosting online bookings by more than 5 per cent. This finding suggests that businesses should link online user-generated reviews to business performance in tourism. Finding incentives for users to share might be one way to improve interactivity and further create stickiness on the part of the website. Originality/value This paper is one of the first studies to address the need to move beyond linear models of e-loyalty and to additionally examine potential curvilinear and interactive effects. This study also identifies key variables such as reciprocity and satisfaction as determinants of e-loyalty in the Chinese online travel and tourism industry.

Performance of agricultural cooperative banks in Japan

2019 ◽  
Vol 80 (1) ◽  
pp. 38-50
Author(s):  
Kozo Harimaya ◽  
Koichi Kagitani
Keyword(s):  
Stochastic Frontier ◽  
Ordinary Least Squares ◽  
Agricultural Cooperatives ◽  
Least Squares Regression ◽  
Business Services ◽  
Lower Efficiency ◽  
Data Set ◽  
Content Type ◽  
Banking Business ◽  
Insurance Business

Purpose The purpose of this paper is to investigate the efficiency of the banking business of Japan’s agricultural cooperatives (JAs), which depend heavily on financial business with non-farmers, contradictory to cooperative principles. Design/methodology/approach The authors construct a panel data set over 2005–2016 from the financial statements of JAs’ prefectural-level federations and use the input distance stochastic frontier model with a time-variant inefficiency effect for analysis. Both the flow and stock measures of the banking output are used in identical models and the efficiency results are compared. The authors also investigate the determinants of efficiency by using the Tobit and ordinary least squares regression models. Findings There is strong evidence of significant prefectural differences in efficiency values. The ratio of lending to non-members to total loans is positively related to efficiency. In contrast, the higher reliance on a central organization and credit business leads to lower efficiency. Research limitations/implications Apart from banking, JAs provide mutual insurance business services. As the authors investigate only the efficiency of JAs’ banking business in this study, it would be necessary to investigate the efficiency of their insurance business as well when evaluating JAs’ overall financial business. Originality/value There are few studies that investigate the efficiency of JAs’ banking business and its determinants, although significant attention has been paid to their excessive dependence on the financial business.

Identifying and measuring the impact of cultural events on hotels’ performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Claudio Piga ◽  
Giuseppe Melis
Keyword(s):  
Ordinary Least Squares ◽  
Strong Impact ◽  
Content Type ◽  
Promotional Effort ◽  
Beneficial Effects ◽  
Hotel Performance ◽  
Day Of The Week ◽  
Business As Usual ◽  
Online Travel ◽  
The Impact

Purpose Focusing on two beer festivals held in Nottingham, England, this study aims to evaluate their indirect impact on the performance of city hotels. This study builds on theoretical insights from the revenue management literature to shed empirical light on the potentially beneficial effects of events on the hotels’ performance. This study investigates the impact of the differential support offered by the destination management organisation (DMO) over two years. Design/methodology/approach Using online prices posted in advance of the events on an online travel agent, the authors assess hotel performance for each day of the events relative to the same day of the week in a week with no event. A similar comparison is made to assess the impact across two different years. In both cases, an ordinary least squares methodology was used. Findings Both events appear not to have had a strong impact on hotel prices and occupancy in 2016, i.e. when the DMO’s promotional effort was more proactive. Instead, in 2017, one event registered higher hotel prices and occupancy both relative to the year before and to the “business as usual” week. Practical implications The study identifies the existence of an indirect positive economic impact of the events on the hospitality sector. Originality/value The investigation adopts a more naturalistic experimental design to collect the data, which allows the authors to control for both the impact on prices and occupancy at the level of the single hotel. The evidence is therefore micro-founded. Moreover, results shed light on the role played by the DMO.

scholarly journals Adopting interoperability solutions for online tourism distribution

2016 ◽  
Vol 7 (1) ◽  
pp. 2-15 ◽  
Author(s):  
Sofia Reino ◽  
Aurkene Alzua-Sorzabal ◽  
Rodolfo Baggio
Keyword(s):  
Distribution Systems ◽  
Tourism Industry ◽  
Evaluation Framework ◽  
Content Type ◽  
Information And Communication ◽  
Global Distribution Systems ◽  
Tourism Enterprises ◽  
Online Travel ◽  
Business To Business ◽  
Micro Enterprises

Purpose – The purpose of this study is to identify the factors that make the adoption of interoperability solutions for online tourism distribution (OTD) more likely by small operators and to develop an evaluation framework for this solutions. Research identifying these determinants is missing. The resulting evaluation framework is then applied to evaluate a number of extant technological solutions focused on interoperability solutions for OTD. Design/methodology/approach – In an attempt to address this gap of research, this paper undertakes a series of interviews and focus groups of the European tourism industry. Findings – Findings partly aligned with the suggestion made by previous research about technology adoption by micro, small and medium tourism enterprises (SMTEs), they also highlighted some issues which are specific to the adoption of interoperability solutions for OTD. These related to the scarcity of information and communication technology (ICT) applications specifically designed for mini and micro enterprises, the very limited capabilities available for using efficiently ICTs in business-to-business (B2B) operations and the difficulty in collaborating with other companies due to the number of different solutions used in the industry, especially when dealing with large aggregators (global distribution systems (GDSs) or large online travel agencies) and lack of standardization for data. Research limitations/implications – The study has important theoretical implications. It provides a better understanding of issues affecting the adoption of interoperability solutions for OTD by SMTEs, such as the scarcity of ICT applications specifically designed for mini and micro enterprises, the very limited capabilities available for using ICTs efficiently in B2B operations and lack of standardization. Practical implications – It facilitates making decisions about adopting interoperability solutions for online distribution solutions, both by suppliers and destination managers. Originality/value – Limited work has focused on understanding issues affecting the adoption of interoperability solutions for OTD solutions among SMTEs.

The role of client knowledge absorptive capacity for innovation in KIBS

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nikolay Chichkanov
Keyword(s):  
Information And Communication Technologies ◽  
Absorptive Capacity ◽  
Ordinary Least Squares ◽  
Customer Relationship ◽  
Business Services ◽  
Content Type ◽  
Process Innovations ◽  
Knowledge Intensive ◽  
Client Knowledge ◽  
The Relationship

Purpose This paper aims to study the relationship between the knowledge exchanged during client interactions and innovation in knowledge-intensive business services (KIBS) enterprises. It adapts the concept of absorptive capacity, i.e. the ability of the firm to successfully deal with external knowledge, to the case of client knowledge being absorbed with the support of information and communication technologies and explores whether its three main dimensions (acquisition, assimilation and application of client knowledge) are significant enablers of KIBS’ innovation propensity. Design/methodology/approach An empirical analysis is based on a dataset of 417 Russian KIBS companies collected in 2019 following the recommendations suggested in the new edition of Oslo Manual. To examine the relationship between the three-client knowledge absorptive capacity dimensions and implementation of different types of innovation by KIBS, the study applies linear ordinary least squares and logistic regression methods. Findings The results show that acquisition of client knowledge through the wide number of digital channels, assimilation of such knowledge boosted by its codification through a digital customer relationship management (CRM) system and application of client knowledge across different functional areas are positively associated with both product and business process innovations in KIBS. Originality/value The paper proposes that KIBS should develop and sustain the strong internal capacity to absorb knowledge through routine day-to-day client interactions as a part of their knowledge management systems. The results also indicate that application of digital communication tools and CRM systems are beneficial for KIBS and increases their propensity to innovate.

scholarly journals Millennials, sharing economy and tourism: the case of Seoul

2018 ◽  
Vol 4 (1) ◽  
pp. 43-56 ◽  
Author(s):  
Monica Bernardi
Keyword(s):  
Participant Observation ◽  
Sharing Economy ◽  
Disruptive Innovation ◽  
Tourism Industry ◽  
Purchasing Power ◽  
Content Type ◽  
Staff Members ◽  
Tourism Sector ◽  
Travel Services ◽  
Online Travel

Purpose The purpose of this paper is to illustrate the “Sharing City, Seoul” (SCS) project in order to highlight the role that Millennials are playing in transforming the tourist market by relying on the tools of the sharing economy. The Korean project, in fact, is promoting and favoring online Millennial enterpreneurship, thus impacting also on the tourism sector. Design/methodology/approach A three-stage methodology – based on in-depth interviews with the “sharing organizations” (SOs) involved in the SCS project, participant observation, and institutional and online materials – has made it possible to comprehend how Millennials are changing the travel and tourism landscape in Seoul through disruptive innovation of the sharing economy, and to propose some broad recommendations for the tourism market. Findings The research, analyzing the SCS project, highlights the increasing purchasing power of Millennials, confirming the importance of adopting a generational perspective to understand needs and tendencies of this generation and orient the tourist market. The SOs interviewed for the research, mainly founded and managed by Millennials, demonstrated to know how to recognize, intercept and satisfy the styles, personalities and requests of tourists, especially Millennials. Thus, Millennials are able to enter in the market not only as users and travelers, but also as entrepreneurs and creators of new online travel services. Research limitations/implications A further analysis should include interviews also with the funders and staff members of the other sharing enterprises that operate in the tourism sector. Moreover, a map of the current state of the sharing enterprises is suggested in order to determine whether or not the number of enterprises with a tourism vocation involved in the project is growing and under which conditions. This map would also be helpful to frame new tendencies in the sharing tourism industry and to monitor the role of Millennials in the market. It would be helpful to compare the Korean case with that of other Asian countries. Originality/value Through the analysis of the Korean case, the research shows that Millennials are massive users of traveler sharing platforms. At the same time they are able to enter the tourist market not only as users and travelers but also as entrepreneurs and creators of new online travel services. The paper offers some broad indications to help in orienting the future tourism market so that it takes account of the growing presence and purchasing power of Millennials.

scholarly journals Hospitality and tourism industry amid COVID-19 pandemic: voices from small Mediterranean town

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kaveh Jafari ◽  
Ali Özduran ◽  
Mehmet Bahri Saydam
Keyword(s):  
Qualitative Research ◽  
Sampling Strategy ◽  
Tourism Industry ◽  
Transport Sector ◽  
Research Approach ◽  
Content Type ◽  
Northern Cyprus ◽  
Stakeholder Perspective ◽  
Hospitality And Tourism Industry ◽  
Novel Coronavirus

PurposeThe study sought to examine the impacts of COVID-19 on tourism from the stakeholder perspective in the case of Famagusta town in Northern Cyprus.Design/methodology/approachVia a qualitative research approach, data are collected through face-to-face interviews from direct and indirect tourism stakeholders operating in Famagusta. A judgmental sampling strategy was employed to collect data from tourism stakeholders on the impacts of COVID-19 on tourism. Descriptive data analysis is engaged to report the results.FindingsResults of the study showed that the novel coronavirus has hampered the tourism sector in Famagusta, Northern Cyprus. Indeed, as the globe suffered its effects in terms of economic gains, business and business closure. It has been the same with Famagusta, while a few private sectors positively gained (Internet and Technology), all other tourism-reliant sectors such as hotels, restaurants, travel agencies and the transport sector massively suffered as a result of the global lockdown due to COVID-19 pandemic.Originality/valueGiven the ever-changing state of knowledge and scarcity of literature, the current study seeks to summarize what has been learned from previous crises and back it up with qualitative research including senior industry stakeholders.

scholarly journals Scuba Diving Experience and Sustainability: An Assessment of Online Travel Reviews

2018 ◽  
Vol 9 ◽  
pp. 43-52 ◽  
Author(s):  
Peunjodi Naidoo ◽  
Prabha Ramseook-Munhurrun ◽  
Jing Li
Keyword(s):  
Text Analysis ◽  
Physical Environment ◽  
Scuba Diving ◽  
Tourism Industry ◽  
Small Island ◽  
Analysis Software ◽  
Unsupervised Analysis ◽  
Online Travel Reviews ◽  
Tourism And Hospitality ◽  
Online Travel

Scuba diving is a popular activity in small island destinations which is on the rise. However, it is particularly important to preserve the physical environment for small island developing states due to their unique biodiversity and fragile ecosystems. Scuba diving tourism in island destinations is provided mainly by dive operators who are responsible to deliver the scuba diving experience to tourists. However, despite the importance of sustainability for the tourism industry, it is unclear to which extent the marine environment or green issues are important for consumers. Studies are increasingly suggesting that sustainability is an important feature considered by consumers. However, information is sparse regarding the extent to which sustainability is a key component for customers when evaluating the scuba diving experience. In this study, 3109 text reviews from the Trip Advisor website across all 57 listed diving operators in Mauritius were selected for data analysis. Th e present study uses Leximancer, a text analysis software that conducts unsupervised analysis of natural language texts provided in an electronic format.The Gaze: Journal of Tourism and Hospitality Vol.9 2018 p.43-52

Racial dissimilarity and diversity climate effect organizational identification

2016 ◽  
Vol 35 (5/6) ◽  
pp. 314-327 ◽  
Author(s):  
Brooklyn Cole ◽  
Raymond J. Jones ◽  
Lisa M. Russell
Keyword(s):  
Organizational Identification ◽  
Turnover Intentions ◽  
Ordinary Least Squares ◽  
Important Variable ◽  
Hierarchical Regression ◽  
Diversity Climate ◽  
Climate Effect ◽  
Content Type ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to empirically examine the relationship between psychological diversity climate (PDC) and organizational identification (OID) when influenced by racial dissimilarity between the subordinate and supervisor. Design/methodology/approach Ordinary least squares hierarchical regression analysis was run for hypotheses testing. Findings Three of the four hypothesized relationships were supported. Support was found for the direct relationship between PDC and OID. The moderator race was significant thus also supported. The moderator of dissimilarity was not supported. Finally the three-way interaction with race and dissimilarity was supported. Practical implications OID is an important variable for overall organizational success. OID influences a wealth of organizationally relevant outcomes including turnover intentions. Considering higher turnover exists for minority employees, understanding how diversity climate perceptions vary by employee race and therefore impact OID differently, helps managers when making decisions about various initiatives. Originality/value This study is the first the authors know of to investigate the impact of dissimilarity on the PDC-OID relationship.

A little help from my friends: how purchasing gains influence in complex business-to-business services: the case of legal

2017 ◽  
Vol 32 (2) ◽  
pp. 206-217 ◽  
Author(s):  
Wendy L. Tate ◽  
Lisa M. Ellram ◽  
Ulrich Schmelzle
Keyword(s):  
Supplier Management ◽  
Positive Contribution ◽  
Business Service ◽  
Case Study Method ◽  
Business Services ◽  
Content Type ◽  
Additional Costs ◽  
Service Procurement ◽  
Business To Business

Purpose The purpose of this research is to develop an understanding of how purchasing can become meaningfully involved in complex business-to-business service purchases. Design/methodology/approach A single in-depth case study method of an exemplar organization was applied to better understand the purchasing function’s role in adding to the value proposition in complex, non-traditional business-to-business service purchases. Findings Powerful allies or advocates can mediate purchasing involvement in service procurement. However, once the involvement is initiated, purchasing must make a positive contribution with respect to the specific needs and expectations of the budget owner to retain its influence. Research limitations/implications This research extends institutional theory to show how powerful allies or advocates can mediate purchasing involvement in the complex services spend. Practical implications This study describes the potential impact of purchasing’s involvement in complex services spend and highlights the opportunities for purchasing managers to improve supplier management and drive out additional costs. Originality/value For the business practitioner, this research provides evidence regarding how individual functions can gain influence in the organization. A conceptual model describes the meaningful involvement of purchasing in complex business-to-business service purchases.

Sign in / Sign up

Export Citation Format

Share Document