Tourism Firms Research Articles

The gender effects on corporate social responsibility decoupling of the hospitality and tourism firms

ABSTRACT From the risk preference perspective of gender stereotype, this study investigates the impacts of female CEOs and female directors on corporate social responsibility (CSR) decoupling using data from Chinese listed hospitality and tourism firms spanning 2009–2020. The results obtained through the cluster-adjusted fixed effects regression method show that female CEOs are negatively correlated, suggesting that firms with a female CEO are unlikely to engage in CSR decoupling, while female directors are positively correlated, indicating that firms with a higher proportion of female directors are more likely to pursue CSR decoupling. And performance shortfall strengthens the negative impact of female CEOs. These findings could contribute to the gender diversity literature, CSR decoupling literature, and the behavioural theory of the firm, and offer practical insights for both firm decision-makers and policymakers.

Investigating digital marketing readiness among tourism firms: an emerging economy perspective

ABSTRACT The study aimed at investigating the readiness of firms in the tourism industry to adopt digital marketing as a marketing strategy – from an emerging economy perspective. The technology–organisation–environment framework and technology acceptance model were used to identify potential determinants of firms’ intention to adopt digital marketing. Data was collected from a sample of 191 tour and travel agencies using standardised questionnaire. Of the technological, organisational, and environmental factors, convenience, managerial commitment, government regulation, and customer pressure were found to be significant determinants of perceived usefulness and perceived ease of use of digital marketing. Both the mediating variables (perceived usefulness and perceived ease of use) were found significant in affecting firms’ intention to adopt digital marketing as a marketing strategy. Leader digital skill was not found to be a significant moderator on the effect of perceived usefulness and perceived ease of use on intention to adopt digital marketing. Devising conducive policies and regulations, strategic consideration of customer feedback, and creating awareness about the technology are essential for tourism firms and key stakeholders of the sector to capitalise on the advantages of digital marketing.

Delivering Strategic Values in the Tourism Industry: What Roles do Effective Planning Plays?

Purpose of Study: This study evaluated the roles effective planning plays in delivering strategic values in the Nigerian tourism industry. Method: Cross-sectional survey design was used and questionnaire was administered to three hundred and ninety-three (393) employees of selected tourism firms. The study employed three (3) dimensions to measure effective planning – plan-flexibility, plan-comprehensiveness and implementation-flexibility. Data obtained in the survey were analyzed using descriptive, post-estimation and inferential statistical techniques Results and Conclusion: Results indicated that dimensions to measure effective planning have positive and significant link with strategic value. Implication of the Research: Impliedly, for tourism firms to be able to deliver strategic values, they should be flexible and comprehensive in the planning phase so as to enhance goals realization. Originality/Value: Consequent upon the above, management of tourism firms should focus on improved measures aimed at delivering strategic values via effective planning, which is vital for the survival and sustainability of the tourism industry. In addition, tourism firms should adopt, apply and implement effective plans to maximize the use of resources so as to achieve corporate objectives.

Unveiling the Dimensionality of Pricing Strategy in the Tourism Industry: An Exploratory Factor Analysis

Tourism is a dynamic and ever-changing industry that plays a significant role in the global economy. As competition intensifies, tourist firms must design effective pricing strategies to attract and retain clients. The objective of the study is to explore the most influencing pricing strategies in the tourism business. A structured questionnaire was developed to discover the price strategy of various tourism enterprises in the Gandaki Province of Nepal. Exploratory factor analysis entails several stages to uncover these hidden components. Factors with eigenvalues greater than one are considered significant to confirm the constructs. Among five construct variables, competition-based pricing explains the highest variance and is followed by a customer-centric pricing strategy. This study provides significant insights into tourism industries’ sustainable competitive advantages.

A brief communication on the Top Ten Trends in the Hospitality Industry for 2024: World Scenario

Technology plays an important role in the hotel industry now, and all indications suggest that it will continue to do so in the future. Hotels can now provide their guests with more customised and efficient experiences thanks to the ongoing advancement of technology. Hotels have used artificial intelligence to change how they connect with their clients, exceeding expectations and offering services and suggestions suited to their interests and preferences in an accurate and timely manner. Furthermore, the most recent AI apps have made it easier to communicate with visitors by using chatbots and virtual assistants that can answer frequently requested inquiries and deliver real-time information. On the other side, technology has had a favourable influence on hotel internal operations. Technology-based hotel management systems enable hotels to automate tasks like check-in and check-out, room management, and staff deployment. Hotels have improved operating efficiency, reduced expenses, and increased profitability by integrating cutting-edge technology. Where do hotel chains and tourist firms stand, what are the major issues they face after surviving the Covid-19 epidemic, how can they address these challenges, and how do they relate to technology? This brief report will give solution to all these questions.

STRATEGY FOR IMPROVING THE COMMUNITY ECONOMY THROUGH ENVIRONMENTALLY BASED TOURISM AND SOCIAL MEDIA IN NAGARI SUNGAI PINANG, WEST SUMATRA PROVINCE

This research aims to identify strategies to improve the community’s economy through environmentally based tourism and social media in Nagari Sungai Pinang, Pesisir Selatan Regency, West Sumatra. This study used qualitative methods with observation, in-depth interviews, utilization of documentation, and FGD. As an analytical tool, this research used Anthony Giddens’ structural theory of observation practice which is not only determined by the agent but also by structure. According to the research findings, the strategy for improving the community’s economy through environmentally based tourism and social media can be seen in the utilization of the community’s diverse tourism business potential, which includes tourism beaches, tourism mangrove forests, tourism nautical (sea), and tour island. Homestay, Manjuto Beach, and attractive islands such as Pamuntusan Island, Pagang, Marrak, Karanggo, and Erong Bay have all contributed to the growth of business tourism. Its development is aided by local institutions and local expertise from an environmental standpoint. There are other opportunities for enterprises that may be established without damaging natural beauty, including tourist firms that involve underprivileged people. The strategy for enhancing the economy of the public is to include all components from the outset, given that the location is common land in line with the customs that apply in the community of Minangkabau West Sumatera. Apart from that, social media is also used as a promotional tool by involving the younger generation.

Digital transformation and tourism listed firm performance in COVID-19 shock

Due to the COVID-19 pandemic shock, the tourism industry has the simultaneous task of improving its quality and efficiency. Investigating if the digital transformation of tourist firms can break the hurdle and promote tourism sector optimization in the digital era is critical. Based on data from a sample of Chinese-listed tourism companies from 2013 to 2022, this study finds that digital transformation can improve firms' financial and non-financial performance, particularly non-financial performance, when confronted with the COVID-19 pandemic shock. This influence operates mainly through the effects of business diversification, including willingness and extent, while it is more pronounced for willingness.

Entrepreneurial Passion: A Key Driver of Social Innovations for Tourism Firms

Abstract Small and medium tourism enterprises (SMTEs) play a vital role in the sustainability and innovation of tourism destinations. Although their role in the sustainability of destinations has received much attention, research focusing on the antecedents of their social innovation practices remains limited. Drawing on theories on entrepreneurship and social innovation, this study contributes to the body knowledge through an empirical analysis of the factors that drive the social innovations of tourism entrepreneurs. For this purpose, a mixed method approach is conducted which includes an e-survey of tourism entrepreneurs (analysed using PLS-SEM, NCA and IPMA) followed by in-depth interviews to gain additional insights. The results showed that 68 % of the SMTEs pursue social development objectives, and 44 % seek opportunities to improve the social conditions of the community in which the firm operates. The results also reveal that entrepreneurial self-efficacy, community attachment and entrepreneurial passion positively influence social innovations, however, entrepreneurial passion is a ‘necessary condition’ for achieving social innovation outcomes. Research also found that ‘opportunity perception’ has an indirect effect on social innovations that is mediated by entrepreneurial self-efficacy. The results provide important insights for the development of social innovation in the context of tourism entrepreneurs, with practical implications for local governments and destination authorities in supporting entrepreneurship and sustainability.

A Systematic Literature Review of Authentic Leadership in Tourism and Hospitality: A Call for Future Research

In recent tourism and hospitality literature, there has been a surge in research endeavors that center on the construct of authentic leadership. Given this increasing interest, our study reviews the empirical studies on authentic leadership in tourism and hospitality to provide a comprehensive framework and research agenda of this leadership style in these contexts. Through a systematic selection process using predefined inclusion and exclusion criteria, we obtained a sample of 37 empirical studies. Following the content analysis approach, we analyzed and synthesized the research results from these studies. Our review makes several critical contributions to the literature. First, our study casts light upon the divergent conceptualizations and approaches used for defining and measuring authentic leadership in the tourism and hospitality literature, thereby enhancing the depth of understanding of this multifaceted construct. Second, we present an overview of the theoretical frameworks and research designs employed in this domain. Third, we present a nomological network of authentic leadership in tourism and hospitality, highlighting the outcomes, moderators, and mediators. Based on these findings, directions for further studies are suggested to address the identified gaps in the literature. We also proposed several practical implications for managers and firms in tourism and hospitality industries to help leaders effectively influence their employees through their authentic behavior.

MENTORING IN IMPROVING PERSONNEL MANAGEMENT EFFICIENCY OF HOSPITALITY ENTERPRISES

The scientific article examines current problems and ways to solve them in ways of improving the efficiency of hospitality enterprises, in particular, hotel and restaurant business organizations and tourism firms, through increasing the efficiency of personnel management of these enterprises. The essence and significance of mentoring, as a measure aimed at improving the qualifications of personnel of hospitality enterprises, is revealed. The developed process of mentoring at hospitality enterprises is appropriate for use in personnel management and general management of these enterprises, which includes the following stages: identifying the need for mentoring to improve the efficiency of hospitality enterprise personnel; selection of goals to be achieved as a result of the mentoring process; definition of mentoring tasks; highlighting the terms of the mentoring process and describing the conditions for its suspension or termination;establishment of motivation criteria for participants in the mentoring process; establishment of criteria for involvement of a mentor and intern in the mentoring process; determination of the mentor and intern evaluation indicator system; development of the program and documentation of the mentoring process; selection of mentors, their training and instruction, formation of necessary skills, definition and application of directions of motivation; selection of interns; carrying out a trial mentoring process; control of the effectiveness of trial mentoring, adjustment of the process; carrying out the main mentoring process; determining the effectiveness of the mentoring process in personnel management of a hospitality enterprise

Did COVID-19 grants support tourism firms in securing survival and employment? Evidence from Croatia

This study is one of first large scale evaluations of the impact of government subsidies for tourism firms during the COVID-19 pandemic. We use the population of micro, small, and medium sized tourism enterprises from Croatia, one of the most tourism-intensive European economies, to investigate whether receipt and the size of subsidies helped distressed companies to stay in business and retain their employees during the first two years of the pandemic. In this study, a novel perspective of grant size effect is introduced to examine the effect of public stimuli on the tourism industry. Positive effects of support on firm survival and employment of subsidised firms are inversely proportional to the size of support. Thus, the findings indicate the need for a dynamic and nuanced approach to public support that considers firms’ heterogeneity in the tourism sector. This study could help policymakers manage potential future crises more effectively.

Connecting Human and Information Resources in the Generation of Competitive Advantage

AbstractA key trend in recent decades is a growing standardisation of tangible digital resources. This trend coexists with development in the most advanced organisations of high-level technological, human and organisational resources teams built around advanced digital solutions. Digitisation has increased information asymmetries in organisations. However, it has changed the nature of the assets that support them. Accordingly, their effects are independent if unaccompanied by complementary investments in organisational design and human capital. This article focuses on relationships between information and cognitive asymmetries, their effects on developing strategic capabilities and their impact on competitive position. Partial least squares structural equation modelling (PLS-SEM) analysis was run on a data set of 418 Spanish tourism firms. The results show the positive effects of the interaction between human resources and information assets in strengthening the competitive position of modern organisations.

The Impact of COVID-19 on Attitudes towards Growth Capacity of Tourism Firms: Evidence from Greece

The aim of this study was to examine the overall impact of the COVID-19 outbreak on the growth capacity of tourism firms in Greece during the first wave of the pandemic. To this end, questionnaires were distributed in 548 tourism enterprises operating throughout Greece within different sub sectors (hotels, travel agents, restaurants, etc.) of the domestic tourism industry. Structural equation modeling (SEM) was employed for analyzing data. The results indicated that COVID-19 negatively influenced the growth capacity of tourism firms, which in turn affected their overall performance. In particular, the negative impact on growth capacity is reflected in dimensions such as managing economic losses and meeting financial obligations. On the other hand, factors such as psychological pressure and fear had no direct impact on the growth capacity of Greek companies during the first wave of the pandemic. A slight association between psychological pressure and growth capacity was detected, which needs further scientific investigation to be supported. Overall, the study highlighted how health crises influence the dynamics and operation of firms operating in the tourism sector, offering useful insights for addressing similar turbulences in future. In this context, domestic tourism authorities should take measurers for improving the growth capacity of Greek firms in periods of turmoil to ensure sustainability in the sector.

How Contingency Adjusts Corporate Social Responsibility (CSR) in the Tourism Industry: A Quasi-Experiment in China

Numerous organizational researchers have acknowledged that COVID-19 reduced the profit in the tourism industry. Some tourism firms decreased the cost by reducing the investment of CSR in order to increase the profit. However, the relevant literature remains scarce. The main purpose of this study is to explore the effect of COVID-19 on CSR investment in the tourism industry. This study fills the gap between stakeholder and cost stickiness theories. Based on a quasi-experiment of listed Chinese tourism companies from 2017 to 2021, the study finds that COVID-19 caused tourism firms to increase strategic CSR and decrease a responsive one. In addition, tourism firms that adopted cost leadership strategies trimmed responsive CSR more than strategic CSR. Tourism firms with differentiation leadership strategies increased strategic and decreased responsive CSR. Tourism firms with higher levels of political connections increased responsive CSR, while tourism firms with higher organizational resilience increased strategic CSR. At the theoretical level, this study reveals the theoretical mechanism of COVID-19 on tourism firms’ adjustment of CSR from the perspective of cost stickiness. On a practical level, it helps inform tourism firms’ decision-making regarding CSR adjustments for sustainable development when they face widespread crisis scenarios.

Stock Prices and COVID-19 Stimulus Policies: Evidence From Tourism and Hospitality Industry

This study examines the impact of economic stimulus policies on tourism-related firms’ stock prices, after movement restriction announcements, and differences in the relationships between economic policy responses and stock prices for large firms vis-à-vis small firms. Using a cross-section data of 888 firms from 56 countries listed on several stock exchanges, we find a positive and significant association between the COVID-19 economic stimulus index and 1- and 2-week average changes in tourism firms’ stock prices after movement restriction announcements. Tourism firms’ stock prices responded favorably to the introduction of macrofinancial packages and monetary policies. This study complements the literature on stock market reactions during the pandemic and contributes to the growing body of literature examining its overall effect.

Tourism SME default: A note on predictors

This note addresses the lack of progress on small and medium enterprises (SMEs) default prediction in the tourism sector. Using the case of Croatian tourism SMEs, this note applies Altman's recently introduced Omega Score model to (i) predict SME default, (ii) explore and contrast important variables for default prediction in tourism vs. other sectors, and (iii) adapt the original Omega Score to tourism sector specifics. Financial ratios have historically been prominent among the predictors in scholarly investigations. However, our findings underscore the significance of supplementing these ratios with other predictors of tourism SME default, specifically with information on (i) creditor payment behaviour and (ii) employee characteristics and relationships with them. Furthermore, our research demonstrates that a refined selection of six variables, accompanied by adjusted weightings, can significantly enhance default prediction accuracy. The results provide valuable lessons for the strategic management of tourism firms.

Tourism firms’ attitudes and willingness to contribute to payments for ecosystem services in tourism

ABSTRACT The purpose of this study is to contribute to the discussions of the role of tourism firms in maintaining important natural environments and cultural ecosystem services of a tourism destination. More precisely, this study explores the tourism firms’ attitudes and willingness to participate in safeguarding and maintaining cultural ecosystem services in a destination through a tourism-related local payments model, Landscape and Recreation Value Trade (LRVT), developed in the Ruka-Kuusamo area in Finland. Five main themes illustrating tourism firms’ attitudes towards LRVT and willingness to contribute to it were identified: benefits, concerns and challenges, implementation, characteristics of a firm, and need for raising awareness. Based on the findings many of the expressed benefits and challenges of LRVT originate from and are connected to evaluating the impacts on the competitiveness of the firm and the competitive advantages for the destination. The study brings insight into the planning, design, and implementation of voluntary tourism-related payment schemes for ecosystem services, and discusses their potential to enhance ecological conservation, support the local economy, and serve as an incentive for private firms to act in a more sustainable manner.

Are stock buybacks in hospitality firms associated with outstanding executive stock options?

Purpose Outstanding unexercised stock options can motivate managers to engage in actions that increase the value of their company’s stock, including buying back their firm’s stock. The objective of granting stock options to managers is to align their interests with stockholders by tying a portion of their compensation to the company’s stock performance. However, unexercised stock options may have unintended consequences by providing managers with a vested interest in artificially boosting stock prices via stock buybacks. The primary objective of this research is to study the main factors that influence firms' buyback decisions amongst hospitality firms at a time when these firms were clamoring for taxpayer bailouts. Results from logistic regression seem to suggest that outstanding executive stock options are a major contributory factor in a firm’s buyback decision. Estimates also indicate that larger, more profitable firms will likely engage in stock buybacks. These findings survive a battery of tests.Design/methodology/approach The authors use logistic regression to predict the probability of a firm’s buyback decision based on a given set of exogenous explanatory variables.Findings The paper supports the hypothesis that buyback decisions are guided by the motive to prop support stock prices in the presence of outstanding restricted stock options/warrants granted to firms' executives.Research limitations/implications The paper focuses on the buyback decision of U.S. hospitality firms. The results, therefore, might not be generalizable to firms in other industries or countries.Practical implications U.S. share repurchase corporate policy and government regulation needs to be revisited given the economic imperative for firms to invest in activities to restore employment and put them in a position for economic recovery.Social implications Public criticism of the size, structure and form (i.e. loan vs grant) of COVID-19 bailouts warrants an examination of whether the factors that drive hospitality and tourism firms to repurchase shares support economic recovery.Originality/value Consistent with agency theory, the authors find a significant positive association between outstanding restricted stocks and a firm’s decision to support the stock prices by buying back shares.

Mediating Effect of Tourists’ Feedback Information on the Relationship between Interaction and Service Innovation in Tanzania

Studies on feedback information and interactions among tourists and tourism services are limited to residents, service providers, and mostly business-to-business. Little remains unknown about the relevance of tourists’ feedback information and interactions to service innovation. This study examined the mediating effect of tourist feedback information in the relationship between tourists’ interactions and service innovation. A survey of 290 Tanzanian tourism firms gathered the scale data that was analysed using Structural Equation Modelling in the Partial Least Square method. Tourist feedback information and tourists’ interactions were found to positively affect service innovation. While tourists’ interactions exhibited a strong positive effect on service innovation, there is a partial mediation of feedback information between the two. These results inform the service industry to capitalize on customer feedback information in enriching new service designs. As a result, practitioners in service firms are at a high point to set strategies to improve interactions as good practices in service innovation. Specifically, the tourism industry actors obtain insights into handling customers and benefiting from their actions and information. Theoretically, the study offers an understanding of interactions as applied in the service dominant logic such that apart from the exchange focus, feedback and interactions can also be considered as information sources for service innovation across firms. These results suggest that tourist interactions and feedback should be treated as key information points for enabling service innovation.

The Impact of COVID-19 on Tourism and Hospitality in Poland

Beyond severe illness and deaths, the COVID-19 pandemic brought widespread economic disruption, businesses closing, and unemployment surging to levels not experienced since the Great Depression. The effect of this pandemic on global tourism has been fast, extensive, widespread, and devastating. This paper identifies the significant characteristics of female entrepreneurial businesses. It examines the strategies taken between 2015 and 2022 to influence the firm's growth and reduce the impact of the COVID-19 pandemic. The findings are based on the interviews conducted with ten female entrepreneurs who own and operate small family-based entrepreneurial firms in Poland's tourism and hospitality industry. This paper aims to deliver recommendations for policy actions and entrepreneurship strategies to effectively grow and curtail or counterbalance the impact of exogenous shocks such as the economic shutdown caused by the COVID-19 pandemic.