Tourism Firms Research Articles

Tourism-industrial atmosphere and executive change: How can they impact firms? - A mixed context analysis study

The current context-turnover paradigm offers a theoretical understanding related to the influence of executive turnover, emphasizing the significance of the internal and physical factors. However, there is a lack of well-theorized and empirical evidence regarding the role of industrial atmosphere. We argue that tourism firms can time executive turnover to optimize its influence by referring to event-atmosphere context. We propose a context analytic approach to comprehensively investigate the aforementioned impacts, shaping an industrial context-turnover theory. Tourism firm performance after executive turnover is significantly moderated by the competitive and seasonal context of the tourism industry. Involuntary executive turnovers are particularly affected, compared to voluntary ones. Tourism-industrial atmosphere contributes significantly to foresee the consequence, and event-driven context forecasting accurately estimates the outcome.

Role of Innovation, Policy, Social Media, and Environmental Munificence for Sustainable Ecotourism Development in Punjab, India

Sustainable ecotourism is tourism that meets the prerequisites of responsible travel and environmental conservation and improves the financial well-being of local businesses. This study investigates the role of ecotourism policy, innovation, and social media as direct antecedents of sustainable ecotourism development and the moderating role of environmental philanthropy. A quantitative process was used, and existing validated scales were used to develop the survey instrument. A partial least squares path modeling technique was utilized to test the model. The study results show that ecotourism policy, innovation, and social media significantly influence ecotourism development, and environmental munificence determines the moderating role. This study suggests that tourism firms and local businesses should focus more on innovations and their applications. The role of social media and influences should also be extensively promoted amongst locals, tourists, and firms to achieve sustainable ecotourism development. This study extends the research by using the sustainable tourism theory as the theoretical foundation and validating the moderating role of environmental munificence between innovation and sustainable ecotourism development.

Can digital transformation promote hospitality and tourism firms’ investment? Moderating effect of financing constraints and economic policy uncertainty

ABSTRACT Research on corporate investment is widely acknowledged as essential in the realm of financial management within the hospitality and tourism sector. Drawing on information asymmetry and resource dependency theories, this study examines the effect of digital transformation on hospitality and tourism firm investment and explores how financing constraints and economic policy uncertainty moderate these effects. We utilized firms engaged in tourism, hotel, catering, and transportation, listed on the A-share market of China’s Shanghai and Shenzhen stock exchanges from 2009 to 2022, as our research sample. Our findings indicate that digital transformation enhances investment in hospitality and tourism companies. Furthermore, this positive effect was more pronounced for firms with reduced financing constraints and heightened economic policy uncertainty. These findings reveal ignored tourism and hospitality investment antecedents and enrich academic understanding by expanding firm-specific boundaries. This study provides practical insight into how hospitality and tourism firms can boost investment through digital transformation.

Embracing Culinary Tourism as a Strategy for Boosting Regional Development: Bangka Belitung Case Studies

Both regional and national growth are aided by culinary tourism. Every region needs to have an appropriate strategy in place to compete with the others in order to maximize development. Creating a supply-demand-driven culinary tourism strategy is the aim of this study. Hybrid technique was employed in this investigation. Participants in this study included chefs, tour operators, owners of agricultural tourism firms, local government representatives in the tourism sector, and operators of restaurants and hotels. SWOT analysis was conducted using the results of visitor surveys, aerial observations, focus group discussion, and secondary data. Suggested course of action: Priority plans are selected by government officials and executives of travel industry associations, and AHP is used to process them. Product, pricing, marketing communication, and collaboration are the recommended areas of concentration. To increase price competitiveness, culinary products from upstream to downstream must work together. Among the goods that must be created are facilities, culinary festivals and events, culinary-related activities, and organizations dedicated to culinary tourism. Collaborative marketing communications are needed to maximize culinary tourism-related media and messaging. There are restrictions on research involving horizontal stakeholders. Future research needs to look at the various ways that stakeholders collaborate.

Roots tourism experiences, identity construction, social equity and social justice: a mixed methods approach

ABSTRACT The incidence of African diaspora’s pilgrimage to their ancestral motherland in Africa has recently increased. Indeed, initiatives such as the Black Travel Movement and Year of Return have increased the desire for black diasporans to ‘go back home’. Evidence in the literature illustrates that this homecoming is a deliberate effort towards identity construction. Using a mixed-method research approach (and W.E.B Du Bois’s sociological; terror management, and substantive identity negotiation theories), this study examined root tourism’s effects on identity construction, social justice, and equity using data from the Cape Coast and Elmina Castles in Ghana. The study’s key outcome shows root tourism’s power to influence social justice and human rights equality. Furthermore, the study discovered that terror management and substantive identity negotiation theories are limited in their relevance to non-Western contexts. This study demonstrates how managers of tourism firms can rightly position root tourism as a distinct tool for identity construction, social justice and social equity. The study also discusses its implications, limitations and future studies.

Knowledge management infrastructure capabilities towards innovative work behavior: Employee's resilience and role of functional flexibility

This study aims to identify the specific mechanisms through which knowledge management infrastructure capabilities (KMIC) can affect IWB and provide insights into how organizations can support innovation through the development of resilient employees. Therefore, current research investigates the association between Knowledge-Management Infrastructure Capability (KMIC), Employee Resilience, Function-al-Flexibility (FF), and Innovative Work-Behavior (IWB) in the workplace. The data was collected through a survey of 374 employees working in tourism firms. For data collection, random sampling method and SEM technique was used. The outcomes demonstrate that KMIC has significant link with IWB; findings also present that employee's resilience mediates and functional flexibility moderates in the association between KMIC and IWB, which in turn have a positive and significant impact on IWB. By investing in knowledge management practices, developing employee resilience, and enhancing functional flexibility, organizations can improve their competitiveness, promote growth and innovation, and enhance their employees' well-being and job satisfaction. This study just explored how KMIC affected innovative work behavior directly and indirectly. In future additional factors such as leadership style and organizational culture could be explored. Additionally, the study found that functional flexibility moderates the relationship between employee resilience and IWB. This study finding offer imperative implications for organizations that aims to improve their employees' resilience, functional flexibility, and IWB through knowledge management practices. Through inferring these dynamics, this research provides valued insights for upcoming studies on the executive origination and offer useful instructions for industries pursuing to raise employee determined invention with strong KMIC, nurturing resilience and stimulating functional flexibility.

Readiness of hospitality and tourism curricula for digital transformation

The digital transformation imperative requires hospitality and tourism firms to rapidly build and continuously upgrade the competitiveness of specific digital transformation and digital business capabilities. Using thematic and quantitative content analysis of online curricula artifacts from top-ranked universities globally, we investigate the extent to which these digital capabilities are integrated into hospitality and tourism management curricula, as well as the approaches to their integration. We add to the literature by providing empirical evidence of integration levels, by identifying various curricula integration approaches, and by discussing their integration strengths and weaknesses. Finally, we contribute to the industry's readiness for digital transformation.

A Financing Constraints Paradox? Internal Finance and Capital Structure Link for Tourism Firms: Asian Emerging Market evidence

The aim of the study is to investigate the relationship between the internal financial and capital structure of an organization in the travel and tourism sector. The study shows how financial constraints on tourism companies affect their ability to finance themselves. The study also shows a relationship between tax shielding and financial leverage. This study analyzes panel data collected over a 21 year period, from 1998 to 2019, from over 100 publicly traded tourism companies in three Asian countries. A panel data methodology and the generalized method of moments estimation (GMM) were used in this empirical study. To support our hypothesis, using a generic method to evaluate parameter estimation will be our most effective method to improve the literature. Overall, the results show that financially stressed tourism firms use their option of debt-free tax avoidance to increase leverage. There is also a positive correlation between tax haven and leverage for firms with limited resources. The correlations between financial leverage and corporate debt supported by the results theoretically support the pecking order. By providing useful insights into the tax shielding of non-debt, which is significantly correlated with leverage for firms operating in tourism, this study closes the gap in firms’ capital structure decisions regarding access to finance. JEL Classification: G0, G01, L25

Agrotourism in Kazakhstan as a factor of economic empowerment of rural population

Nowadays agrotourism is one of the most important tools for improving the image of the village and its attractiveness for economically active population, an effective mechanism for spreading entrepreneurship in rural areas and increasing economic opportunities for rural residents by diversifying the activities of peasant (farmer) farms. Purpose - the concept of "agrotourism", factors constraining the development of the industry are considered, new approaches to expanding the range of tourism services in rural areas of Kazakhstan on the basis of the model "One Village - One Product" (OVOP) are studied. Methods - empirical for the purpose of data selection, observation and research of specific phenomena, establishing links between them; statistical, economic analysis, logical - to identify general trends or effects, use of international experience and generalization of results. Results - the authors note that rural tourism in the country is fragmented, there is no concept and system principles in the tourism sector, which are the key barriers to the development of tourism agribusiness in the country. Popularization of the OVOP movement in the regions of the Republic of Kazakhstan will contribute to the creation of new jobs, the growth of rural people's welfare. It is shown that the agritourism sector is one of the rapidly developing directions in modern tourism. In Kazakhstan there are potential reserves of its wide distribution, which allow to diversify the tourist product and create an additional item of income to the budget of the republic. Conclusions - agrarian tourism is an important segment of modernization of agrarian sector economy, promising innovative rural entrepreneurship. The development of tourism infrastructure in rural areas contributes to the diversification of rural economy, increasing employment and income of rural population, increasing the number of small business enterprises, the volume of production of environmentally friendly products of private subsidiary plots and farms, reducing the outflow of rural population to the cities. Agritourism industry has a large reserve of natural and human resources. However, the authors state that farmers need information and consulting support of tourist firms.

Effect of popular culture on tourism firms' market value:A destination brand equity perspective

Popular culture provides numerous benefits to destinations, enhancing their image, reputation, and sales. While previous research on its impact on tourism has predominantly focused on individuals’ perception and behavior toward a destination, little attention has focused on its potential spillover effect on the tourism and hospitality firms. This spillover can create destination brand-related intangible assets that positively influence firm value. Based on the customer-based brand equity theoretical framework, this study reveals that popular culture significantly affects the firm value of the tourism and hospitality industries, with notable effects observed two days after the event. Individual companies operating under the umbrella brand of a destination gain advantages from the improved brand knowledge associated with that overarching brand. The findings also highlight that the unique characteristics and nuances of popular cultural content, such as its genre, popularity scope, and celebrity effect, play a crucial role in shaping the magnitude of its impact.

Gamification and economic behavior: Geospatial insights into mobile exercise app usage in South Korea

This study investigates how mobile exercise app-enabled gamified benefits (epistemic, personal integrative, and social integrative) independently and interactively influence economic outcomes from a nationwide perspective. Utilizing unique data on physical exercise and shopping activities collected from 7558 South Korean exercise app users over 3 years, we employed aspatial and spatial econometric models, along with visualization techniques, to examine the spatially varying relationships between gamified benefits and shopping behaviors at the municipality level. The results indicate that while social integrative benefits decreased shopping frequency and amount, the interaction terms of epistemic and social integrative benefits positively influenced shopping frequency. Furthermore, our spatial analysis suggests that the gamification–shopping relationship varied based on specific gamified benefits and across individual and clustered districts, cities, and counties across South Korea. These insights can guide local governments and tourism firms, suggesting opportunities to promote destination-specific gamified services for boosting the local economy.

Fast vs. slow rhythms: balancing human resource change and corporate strategic development in tourism firms

ABSTRACT Due to the dynamic and complex environment in which tourism firms operate, it can be challenging to align the pace of human resource change with corporate strategic development. In this study, we introduce strategic rhythm theory to explore the antecedents of strategic human resource management from a temporal perspective. We construct an innovative theoretical framework categorising strategic rhythms into market and non-market types to elucidate how these rhythms influence the evolutionary process of strategic human resource management within tourism firms. Based on a longitudinal case study, our findings indicate that aligning strategic development with human resource change is a non-linear, sequential, and dynamic process. Both non-market and market strategic rhythms exhibit an entrainment mechanism, achieving an intermittent fit between strategic development and human resource change through optimisation and complementary functions. Furthermore, this study deconstructs the process by which strategic rhythm drives strategic human resources, summarising three action logics: strategic follow-up, strategic leadership, and strategic lag. It also identifies the states of rhythmic systems into three stages: arrhythmia, polyrhythmic coordination, and eurhythmia. This study extends the scope of strategic human resource management by showing how tourism firms can achieve strategic fit, offering practical value to help them leverage strengths to thrive.

Navigating market waves: How CEO political ideology shapes the currents of innovation-induced tourism value

The upper echelons theory postulates that the cognitive frameworks of top executives shape organizational decisions and behaviors. Based on this theory, this study contributes to the literature by analyzing the effects of the chief executive officer's (CEO) political ideology and political climate on variations in the market value of tourism firms resulting from their innovation activities. An empirical application was conducted on major U.S. hotel companies that have traded on the stock market for the last 25 years (1998–2022) and made innovation-related announcements. This application shows that, although the implementation of innovative activities positively affects a firm's market value, both the CEO's political ideology and the political climate influence the degree of change in the said market value. This study has fundamental theoretical implications for upper echelons theory by improving the understanding of how cognitive diversity derived from political ideology influences decision-making and its outcomes.

Tourism law, labor supply and corporate performance in tourism listed firms

Enhancing the regulatory environment and enhancing the level of provision is a crucial approach to achieving sustainable growth in the tourism economy. This paper employs a DID model to analyze the effects of legal institution development on the performance of tourism firms. Specifically, it focuses on the Tourism Law of the People's Republic of China as a quasi-natural experiment. The study utilizes listed tourism firms from 2011-2021 as the research sample. The finding reveals that implementing tourism law can promote firms' financial and non-financial performance, especially non-financial performance. This impact operates mainly through the positive effect of labor supply.

Examining the impact of Halal tourism industry sustainability on stock returns

This study investigates the relationship between sustainable industry performance and stock returns of the Halal tourism sector. We use a comprehensive dataset comprising 192 Halal tourism firms from 38 countries over the period of 2010–2020. Our baseline analysis reveals a significant positive impact of sustainable industry performance on Halal tourism stock returns. To control endogeneity issues, we employ advanced econometric techniques, including dynamic Generalized Method of Moments and confirms the robustness of our initial results. Furthermore, we document the adverse effects of the COVID-19 pandemic on Halal tourism stocks, underscoring the vulnerability of the industry to external shocks. Additionally, our subsample analysis highlights that firms with lower levels of sustainability experience negative repercussions on their stock returns. The findings offer valuable insights for investors, policymakers, and industry stakeholders, emphasizing the importance of sustainable strategies in enhancing both financial outcomes and resilience in the ever-evolving landscape of Halal tourism.

Membership duration of tourism firms in the United Nations Global Compact Programme

This study examines the membership duration of travel and leisure (tourism) firms in the United Nations Global Compact Sustainability Reporting Programme between 2007 and 2020. Important factors of duration include firm characteristics (such as size and ownership) as well as contextual country-specific elements relating to environmental progress and control of corruption. Data originate from 693 member firms entering the programme at any point during the analysis period. Estimation results, based on the Cox proportional hazard model, show that tourism firms in countries that decouple emissions from economic growth are more likely to endure in the programme. A high level of corruption control in the home country is also associated with a significantly higher probability of membership duration. Larger firms, publicly listed firms and members of local Global Compact networks are also more likely to remain in the programme. Control of corruption is only important for duration outside the OECD; meanwhile, environmental performance at the country level is crucial independent of location. Environmental performance is particularly significant in more recent years, in parallel with an accelerated green transition in many countries.

The Influence of Financial Self-efficacy on Financial Inclusion in Tanzania

This study investigates how Corporate Social Responsibility (CSR) information is communicated on the websites of tourism firms in Tanzania. Specifically, the study assesses the quantity, prominence and style of presentation of CSR information on the websites. Data was collected through a content analysis of the websites of the member firms of the Hotel Association of Tanzania (HAT) and Tanzania Association of Tour Operators (TATO). The findings reveal that about 50% of tourism firms disclose their CSR information on their websites. Also, about 57% of tourism firms disclose a minimal amount of CSR information (1 to 2 pages), 31% place their CSR information prominently on the homepage, 54% present their CSR information using textual format only and 38% of websites allow interaction with stakeholders for inquiries and feedbacks. Moreover, the study highlights that hotels are more effective in utilizing websites for CSR communication than their tour operators, suggesting that firm size and industry subsectors influence variations in CSR communication practices. The findings imply that tourism firms in Tanzania recognize the crucial role of websites in corporate communication including CSR communication. However, tourism firms need to improve their CSR web communication by enhancing the volume, prominence, multimedia-rich content and interactivity of web-based CSR communications. Further research focusing on specific subsectors and exploring strategies for enhancing CSR communication on tourism websites could provide valuable insights.

Corporate Social Responsibility Communication on the Websites of Tourism Firms in Tanzania

This study investigates how Corporate Social Responsibility (CSR) information is communicated on the websites of tourism firms in Tanzania. Specifically, the study assesses the quantity, prominence and style of presentation of CSR information on the websites. Data was collected through a content analysis of the websites of the member firms of the Hotel Association of Tanzania (HAT) and Tanzania Association of Tour Operators (TATO). The findings reveal that about 50% of tourism firms disclose their CSR information on their websites. Also, about 57% of tourism firms disclose a minimal amount of CSR information (1 to 2 pages), 31% place their CSR information prominently on the homepage, 54% present their CSR information using textual format only and 38% of websites allow interaction with stakeholders for inquiries and feedbacks. Moreover, the study highlights that hotels are more effective in utilizing websites for CSR communication than their tour operators, suggesting that firm size and industry subsectors influence variations in CSR communication practices. The findings imply that tourism firms in Tanzania recognize the crucial role of websites in corporate communication including CSR communication. However, tourism firms need to improve their CSR web communication by enhancing the volume, prominence, multimedia-rich content and interactivity of web-based CSR communications. Further research focusing on specific subsectors and exploring strategies for enhancing CSR communication on tourism websites could provide valuable insights.

რეგიონში ტურისტული და გადამზიდავი კომპანიების თანამშრომლობის ორგანიზაციული მოდელის სრულყოფა

Tourism is recognized as one of the priority directions in the country's development. Its development is impossible without the development of relevant infrastructure and service industries in the regions. In this regard, transport services have a decisive role in the revival of the industry. Transport services for tourists in the Imereti region are mainly provided by private transport and tourism companies. In the research process, various options of the organizational model of cooperation of tourist and transport companies were developed for tourism and transport companies and their SWOT analysis was made. Modern tourist transport, regardless of its type, can belong to different forms of ownership. Transport services for tourists in the Imereti region are mainly provided by private transport and tourism companies. In the research process, various organizational models of cooperation of tourism and transport companies and their SWOT analyses were developed. Based on the conducted research, we obtained a specific scientific product, in particular: 1. Organizational models of tourism and transport enterprises in the transport services market were developed and their SWOT analysis was made. 2. In the Imereti region, such a form of relationship between entities in the market of tourist transport services is appropriate, such as the union of tourist firms and transport companies. This form of union solves some problems that arise in the process of tourist transport services, allowing tourist companies to work more efficiently, reduce costs, and increase the quality of service.

Managements' competence, functional background, control systems, contextual factors of the planning system and cash flow management behaviour in Uganda's tourism firms

PurposeThe purpose of this paper is to examine the relationship between Managerial Competence Functional Background of Top Management Teams (FBTMT), Management Control Systems (MCS), Contextual Factors of Planning System (CFPSY) and Cashflow Management Behaviour (CFMB) in the tourism sector in Uganda.Design/methodology/approachThis is a correlational and cross-sectional study utilising a sample of 211 tourism firms (tour operator firms and hotels) and using a questionnaire to enlist responses. Data are analysed using SPSS software.FindingsResults show significant relationships between managerial competence, functional background of top management teams, management control systems, contextual factors of planning system and cashflow management behaviour. Among the independent variables, management control systems is the best predictor of cash flow management behaviour in tourism firms. It is also a significant mediator in the link between management competence and cash flow management behaviour and that between the functional background of top management teams and cashflow management behaviour.Research limitations/implicationsAppropriate cashflow management behaviour of actors in operating, investing and financing activities of tourism firms can be improved through highly developed management competence, strong management control systems, utilisation of varied functional background of top management teams and enabling contextual factors of the planning system. The study operationally defined cash flow management behaviour as any management behaviour that is relevant to cash flow management in a firm's operating, investing and financing activities probably for the first time and this speaks to those financial statement analysts and other stakeholders wishing to infer cash flow management behaviours from the statement of cash flows.Originality/valueAs far as we are aware, no research has been done on the relationship between the cash flow management behaviour of tour operator companies and hotels in Uganda's tourism sector and the internal contingencies of managerial competence, functional background of top management teams, management control systems, and contextual factors of the planning system.