Tourism Sub-sectors Research Articles

WOMEN REPRESENTATION AND STOCK LIQUIDITY

This study investigates the effect of women's representation in supervisory boards and stock market liquidity. Hence, this paper also determines the impact of women's representation in supervisory boards independent and women with a business education background in the supervisory board on stock market liquidity. Thus, four control variables are involved here: company size, company age, company leverage, and company profitability. Twenty-two publicly listed companies operated in Restaurant, hotel, and tourism sub-sector from the 2017-2018 period are used as research samples. The multivariate regression analysis is applied, and the secondary data is gathered from mutli-sources are analyzed using SPSS and Gretl. The finding shows a positive effect of women's representation in supervisory boards and stock market liquidity. In addition, women's representation in the supervisory board independent is positively related to stock market liquidity. Finally, the relationship between the women with business education backgrounds on the supervisory board and stock market liquidity is negatively documented. Hence, stock market liquidity is also positively related to firm size . Practical and theoretical inferences are discussed in the paper . Keywords : W omen representation in the supervisory board, women representation in supervisory board independent , women with a business education background in the supervisory board , stock market liquidity

The influence of debt-to-equity ratio, capital intensity ratio, and profitability on effective tax rate in the tourism sector

Masri and Martani (2012) explain agency problems that arise with the existence of influenceive tax rate due to differences in interests between the shareholder and management. Influence tax rate aims to apply tax regulations correctly to achieve the expected profit efficiency. This study examines the influence of debt level, capital intensity ratio (CIR), and company profitability on influenceive tax rates. Effective tax rate is measured in this paper, the debt level is measured using debt-to-equity ratio (DER), profitability is measured using return on assets (ROA) and the CIR shows property fixed assets in the company by compared total assets owned. The population in this study is the tourism sub-sector that has been audited and listed on the Indonesia Stock Exchange (IDX). This research period was conducted for 3 (three) years using a purposive sampling method. In this study, the data analysis techniques used were descriptive statistical analysis, classical assumption test, multiple linear regression analysis, F-test, t-test, and coefficient of determination test using the Statistical Product and Service Solutions (SPSS) program. The results of this study indicate that the level of debt, capital intensity ratio, and company profitability does not influence effective tax rate. This shows that if DER, ROA, and CIR have increased or decreased, the effective tax rate is not affected.

THE ROLE OF INFLATION IN MODERATE FACTORS AFFECTING PROFITABILITY IN THE HOTEL, RESTAURANT AND TOURISM SECTOR

The company's goal is to make a profit. The level of profit is used as a basis for measuring the company's success. Companies that have prospects for future profits will provide a good signal for investors. This research contributes to explaining how inflation moderates the factors that influence profitability in the hotel, restaurant and tourism sub-sectors listed on the Indonesian stock exchange for the 2019-2022 period. The number of sample data used in this research was 104 data from 152 population data. This research uses linear regression analysis. The research found that Current assets (CR) had a negative and significant effect on Return on assets (ROA), Total asset turnover (TATO) had a positive but not significant effect on Return on assets (ROA), Debt to equity ratio (DER) had a negative and insignificant effect on Return on assets (ROA), Current ratio (CR) which has an insignificant negative effect on Return on Assets (ROA) with inflation as a moderating variable, Debt to equity ratio (DER) has an insignificant positive effect on Return on Assets (ROA).

New Practices of Tourism Industry as Effects of Development of the Agricultural Land Market

The aim of this study is to identify and analyze new practice of the tourism industry which are in deep relation with the agricultural land market. The development of the agricultural land market causes an intensification of its role in the tourism industry, contributing also to the enhancement of other tourism sub-sectors, such as eco-agricultural tourism, rural tourism, eco-tourism, forest tourism industry, so it is a good reason to boost the need to establish a positive relationship between these two different types of land use. The tourism industry provides 10% of the turnover of the production and service market of the planet through the national product, investments, consumer spending, tax revenues and the organization of new jobs. This is facilitated by natural resources of each country, their hospitality, cultural and ethnic diversity, their individual tourist infrastructure with their burden of change and improvement within each country. Kazakhstan is rich in natural resources, has huge agricultural areas with a full range of agricultural destinations but also for other kind of activities which that can generate income, such are tourism activities

Analisis Perbandingan Profitabilitas Perusahaan Jasa Sebelum dan Selama Pandemi COVID-19

This paper aims to find out how significant the comparison of company profitability is before and during the Covid-19 pandemic.The population in this study were all companies in the hospitality industry, restaurant and tourism sub-sector listed on the Indonesia Stock Exchange (BEI) for the period 2019 - 2020. The sample in this study used the purposive sampling method, namely companies that had complete financial reports for the 3rd quarter of 2019 and Quarter 3 of 2020, the number of samples of this study were 31 companies. The results prove that the Gross Profit Margin (GPM), Net Profit Margin (NPM), Operating Profit Margin (OPM), and Return On Asset (ROA) tested with the test wicoxon have a significant effect on the Covid-19 pandemic on GPM, NPM, OPM and ROA. The Return On Equity (ROE) analyzed using the mann whitney also experienced significant differences before and during the Covid-19 pandemic. That way there is a significant difference in company profitability as measured by GPM, NPM, OPM, ROA, and ROE, the hospitality industry, restaurants and tourism sub-sectors listed on the Indonesia Stock Exchange (IDX) before the Covid-19 pandemic and during the Covid-19 pandemic. It is hoped that this research can help investors and interested parties in responding to the Covid-19 pandemic.

Performance Appraisal of Tourism Sub Sector Companies In Indonesia Sharia Stock Index In the Period Of 2018-2020

Introduction/Main Objectives: In financial statements, there is some data information needed to assess a company's financial performance. The study aimed to analyze the influence of financial performance assessments using EVA and MVA on abnormal returns of shares in tourism sub-sector companies listed in Indonesia Sharia Stock Index (ISSI) during the period 2018-2020. Background Problems: Although many previous studies have measured financial performance using the EVA and MVA methods, there is still limited use of EVA and MVA methods in tourism sector companies particularly listed in Islamic stock exchange. Novelty: The concept of economic value added (EVA) and market value added (MVA) become an alternative to performance measurement. Research Methods: This research is descriptive quantitative research with secondary data used as data collection technique. Dependent variable is abnormal stock return while independent variables used were EVA and MVA. Data was retrieved from Indonesian stock exchange web and 17 tourism sub-sector companies registered with ISSI during the period 2018-2020. Panel data regression with E-views tool employed as analysis technique. Finding/ Results: The study found that the coefficient sign for the EVA is positive and insignificant, while MVA is significant in affecting abnormal stock return. This indicates increasing in MVA will be causing increasing in abnormal return stock. Simultaneously, EVA & MVA have influence on abnormal stock return of the studied companies in Indonesia. The study suggests that investors can might consider MVA as an important factor in decision before purchasing their potential stock, also consider the importance of MVA impact on abnormal return as the basis of government’s related policy determinant.

ANALISIS FINANCIAL DISTRESS DENGAN MODEL ALTMAN Z-SCORE SEBELUM DAN SAAT TERJADINYA PANDEMI COVID-19

The purpose of this research is to compare the financial distress of companies in the restaurant, hotel, and tourism sub-sector before and after the Covid-19 pandemic, as well as to predict the future of these industries. Purposive sampling was used to collect the sample data. Secondary data collected through documentation methods was used for this analysis. The data analyzed using the modified Altman Z-Score discriminant ratio method and tested using the Wilcoxon Signed Rank Test. Companies in the restaurants, hotels, and tourism sub sector experienced a higher rate of financial distress during the Covid-19 pandemic than before, according to the available data.

Tourism stock price and COVID-19: medium-term relationship with passenger transport, hotel, and tour operator subsectors

ABSTRACT COVID-19 has had a devastating effect on tourism in Spain, one of the world’s biggest tourist destinations and also one of the first countries to face the consequences of the pandemic. Tourism stock prices showed high volatility at the beginning of the pandemic. However, we do not yet know whether this relationship has remained throughout the pandemic and the effect it has had on the main subsectors of tourism. Quantifying this relationship in the medium term makes it possible to predict the effect of the pandemic on the tourism sector stock market and to compare the impact on its different subsectors. A dynamic regression model has been developed to predict the stock price of the hotel, passenger transport, and tour operator subsectors in Spain, based on the evolution of COVID-19. Cumulative COVID-19 deaths have been confirmed to be a good predictor of abnormal stock price in the main tourism subsectors, affecting passenger transport more intensely than hotels or tour operators.

Pengaruh Profitabilitas, Leverage, dan Struktur Modal terhadap Nilai Perusahaan dengan Kebijakan Deviden sebagai Variabel Moderasi

Abstract: Purpose: The COVID-19 epidemic has had a devastating impact on the international economy, particularly in Indonesia. The hospitality, dining, and tourism sectors are some of those most impacted by the COVID-19 pandemic. The impact of profitability, leverage, capital structure, and dividend policy as moderating variables on firm value is investigated in this study for companies in the hotel, restaurant, and tourism sub-sector listed on the Indonesian stock exchange between 2016 and 2021. Method: With data from the Indonesian stock exchange from 2016 to 2021, comparative descriptive approaches and quantitative methodologies were employed in this study. Purposive sampling was used to sample, and it revealed 15 businesses that fit the bill. Results: The findings in 15 companies show that profitability has no effect on firm value, with a significance value of 0,584; leverage has no effect on firm value, with a significance value of 0,896; capital structure has no effect on firm value, with a significance value of 0,122; dividend policy is able to moderate profitability on firm value, with a significance value of 0,025; dividend policy is unable to moderate the effect of leverage; and capital structure has no effect on firm value. Limitations: This study only uses the variables of profitability, leverage, capital structure, dividend policy to explain the variable value of the company, with a sample of companies in the hotel, restaurant and tourism sub-sector listed on the Indonesian stock exchange during 2016-2021. Contribution: The results of this study will likely be applied in investment decision-making. Businesses with concerns about profitability, debt, and capital structure can also utilize this research's findings as knowledge so they can act right away to keep their operations going in the future. Keywords: 1. Profitability 2. Leverage 3. Capital Structure 4. Firm Value 5. Covid-19 6. Pandemic 7. Sub-Sector Hotel 8. Restaurant and Tourism

Digital technology, tourism and geographies of inequality

Tourism is undergoing major changes in the advent of social media networks and other new forms of digital technology. This has affected a number of tourism related processes including marketing, destination making, travel experiences and visitor feedback but also various tourism subsectors, like hospitality, transportation and tour operators. More radical than the change in technology itself, the COVID-19 pandemic has hastened questions of digitality and virtuality to the fore in tourism (and not just there). An already substantial and growing body of research has investigated these developments, both regarding tourism processes and industry subsectors and it has grown substantially since the pandemic. Still, largely overlooked are the effects of these changes on questions concerning inequality. This paper provides an overview of recent discussions on this topic, presenting an analysis of extant material and provides ideas of where to take the research further.

Tourism destination brokers: A network analytic approach

Understanding the interactions of tourist companies in different tourism sub-sectors could be relevant for advancing the destination's organisation and management. The present article employs a network analysis to examine inter-organisational interactions and the various roles that some companies assume in tourism destinations. The results reveal the existence of a network in which enterprises, identified as brokers, take on strategic roles both within and outside of their specific sub-sectors of origin. This study proposes new social network analysis indicators to identify the distinctive and prevalent position of company brokers, who manage inter-organisational relations by spontaneously assuming specific roles within the tourist destination network. Serving as coordinators, gatekeepers, consultants, liaisons and representatives, such brokers facilitate cooperative and collaborative practices among companies in different tourism sub-sectors, thus increasing actors' network cohesion across a given tourist destination.

PENGARUH NPM, DER, TATO DAN CR TERHADAP PERTUMBUHAN LABA

The purpose of writing this thesis is to examine the effect of Net Profit Margin, Debt to Equity Ratio, Total Asset Turnover and Current Ratio on Profit Growth in Hotel, Restaurant and Tourism Sub-Sector Companies Listed on the Indonesia Stock Exchange (IDX) for the 2019-2021 Period. The researcher uses quantitative research methods and the analytical technique used in this research is multiple linear regression analysis. Sampling using the saturated technique amounted to 67 with a population of 35 companies during the 2019-2021 period. The results showed: (1) Net Profit Margin had no effect on profit growth. (2) Debt to Equity Ratio has no effect on profit growth. (3) Total Asset Turnover has a positive and significant effect on profit growth. (4) Current Ratio has no effect on profit growth.

Training needs assessment for tourism businesses in Tanzania

There is clear evidence of the skill gaps between the skills offered in training institutions and the skills required by the tourism market in Tanzania. This paper intends to assess training needs among tourism businesses in the country. The study employed a qualitative method in which Focus Group Discussions (FGDs) and Key Informant Interviews were conducted among MSMEs in the tourism industry in Tanzania. It involved a total of 117 respondents (63 females and 54 males), with the majority being tourism businesses. The study revealed that tourism businesses have varying levels of basic education, as well as specific tourism education levels. The MSMEs lack different skills and competencies, due in part to their lines of business, the levels of involvement with their business, and customer transactions. There is a need to move towards a more professional tourism business development approach and practice. This can best be achieved when a greater number of tourism MSMEs in the eight tourism sub-sectors from the five circuits work more closely together in formal location-based, cross-sub-sector circuits to gain leverage on their synergies. Also, there is a need to identify tourism skills gaps and propose mitigation measures for capacity-building training initiatives that focus on tourism business development to make Tanzania destination more competitive.

Tourism business clusters: A tool for transforming MSEMs in the tourism industry in Tanzania

This study explores the need to consider the tourism business cluster’s approach in Tanzania to transform the tourism industry. The methodology for this study was qualitative. The study involved 114 respondents, who were randomly drawn from the sample frame of tourism businesses maintained by the tourism organizations in Tanzania. It was found that over 98 percent of the tourism MSMEs in Tanzania were not familiar with tourism value chains. Even those who seemed to understand the concept (2%) understood only the most visible sub-sectors of travel and tourism, especially at the destination level and on issues such as air, road, rail transport, accommodation, food, and beverage outlets. Over 99 percent of the tourism MSMEs operate in isolation from other sector players in Tanzania. The need for the establishment of tourism clusters is crucial in ensuring that Tanzania destination continues to be competitive.

STRATEGI ALTERNATIF PEMBANGUNAN MANUSIA MELALUI PARAWISATA HALAL DI INDONESIA PASCA COVID-19

Halal tourism in Indonesia is the largest tourism in the world that presents a lot of natural beauty, culture, and comfortable places of worship. In the economic field, halal tourism contributes significantly to state income, which is around 10.4% and employment of around 313 million people. This proves that halal tourism in Indonesia has a positive effect on national income and increases human development. But that was all achieved before the Covid-19 outbreak hit Indonesia. During the pandemic, halal tourism objects experienced a drastic decline. Many halal tourism sub-sectors such as airlines, lodging, and places to eat are feeling the impact. For this reason, an alternative and complex strategy concept is needed to restore the existence of halal parawista in Indonesia. The right method to respond to the author's goal is a qualitative descriptive method with the help of a SWOT analysis consisting of strengths, weaknesses, opportunities, and threats. The results obtained in this article are: first, the strength of Indonesian halal tourists is quite large because it has many beautiful natural destinations, easy access to tourist attractions, the availability of many places of worship, lodging and eating places that have been tested for halalness, and the friendliness of the Indonesian population. in welcoming incoming tourists; Secondly, from the side of weakness, health protocols are considered too strict, such as mandatory vaccines, wearing masks, maintaining distance, and the like, thereby reducing tourist intentions. Another weakness is the lack of human resources in managing halal tourism, as well as the lack of government facilities in assisting small and medium enterprises in marketing their products; the third is seen from the opportunities that can be utilized by the government, namely focusing on the six basic needs of Muslim tourists, namely maintaining halal food, prayer facilities, Ramadan services, water-friendly bathrooms, no non-halal activities, and improving recreational facilities; Fourth, in terms of threats, the government needs to pay attention to competition with neighboring countries, focus on halal certification, and also the spike in Covid-19 cases. The analysis above is believed to be an alternative strategy in increasing halal tourism in Indonesia so that it makes a major contribution to the country, especially in its human development.

Company's Financial Performance Before and During the Covid-19 Pandemic on the Indonesia Stock Exchange

This study at determine financial performance before and during the Covid-19 pandemic on the Indonesia Stock Exchange. In this study, 29 samples of companies in the health sub-sector, telecommunication services sub-sector, hotel and restaurant tourism sub-sector. This analysis includes company financial analysis, manova test, and research results show that financial performance before and during the Covid-19 pandemic as measured by using CR, DER, TATO, ROE shows no difference in the health sector and for companies in the telecommunication service subsector while in the telecommunication service subsector. Hotel and restaurant tourism shows differences in financial performance before and during the Cobid-19 pandemic. Financial performance such as the Current ratio, DER, TATO and ROE show that younger companies have different financial performances from older companies. the size of the company does not show any difference for the ratio of CR and ROE and shows a difference in the ratio of DER and TATO when it is below 5 trillion

Does vaccination help to reduce financial stress on tourism subsectors?

Although there is rapid vaccination progress in the US and improvement in broad service activity upon reopening, no meaningful recovery has been achieved in tourism-related sectors until now. Therefore, we take a deep dive into tourism-related sectors and investigate how the effect of COVID-19 vaccination progress differentiates on the financial distress of tourism subsectors. Using a time-varying parameter VAR model, we quantify the financial distress in each tourism subsector and relate these measures with a daily number of newly vaccinated people. Our empirical findings indicate that specific tourism subsectors respond more to vaccination progress, and accordingly, financial stress has started to decline in these sectors. However, the effects of vaccination on airlines and hotel sectors are insignificant, implying that the recovery process will take longer in these subsectors.

Pengaruh PER, ROE, EVA, ukuran perusahaan, nilai tukar dan tingkat inflasi terhadap return saham

The basic thing within the investment decision process is knowing the link between the expected return and also the risk of an investment. The existence of information of the expected return analysis may be a necessary strategy in investing. The aim of this study is to check the effect of price earning ratio (PER), return on equity (ROE), economic value added (EVA), company size, exchange rate and inflation rate on stock returns. This research was conducted on hospitality, restaurant and tourism sub-sector companies listed on the IDX for the 2017-2019 period. The full of population consists of 35 companies with samples taken as many as 11 companies using purposive sampling techniques. The analysis technique used may be a multiple rectilinear regression analysis technique. Supported the test results, it absolutely was found that PER and EVA had a positive and significant effect on stock returns. ROE, company size and rate of inflation have a negative and insignificant effect on stock returns. The exchange rate has a positive and insignificant effect on stock returns. The results of this study provide guidelines for creating investment decisions associated with the amount of return within the kind of stock returns and might be a reference for other parties who want to conduct further research and similar research within the future.

The Effect Of Leverage, Company Size, Inflation Rate, And Cash Holding On Company Value (In Hotel, Restaurant, and Tourism Sub-Sector Companies Listed on the IDX for the 2017-2020 period)

This study aims to determine the effect of leverage, firm size, inflation rate, and cash Holding on firm value (in hotel, restaurant, and tourism Sub-Sector companies Listed on the Indonesian Stock Exchange for the 2017-2020 period). This research is a type of quantitative research. The population in this study amounted to 35 companies, using purposive sampling technique, obtained a research sample of 18 companies. The analytical method used in this research is multiple linier regression. The result showed that : (1) Leverage had a negative and significant effect on firm value. (2) Firm size has a negative and significant effect on firm value. (3) Inflation rate has no effect on firm value. (4) Cash Holding has a positive and significant effect on firm value. 
 Keywords : Leverage (DER), Company Size, Inflation Rate, Cash Holding, and Company Value (PBB)

Comparison Analysis Of Profitability And Leverage Of Hotel, Restaurant And Tourism Sub Sector Companies Before And During Covid-19 Pandemic

The worldwide economy, particularly Indonesia's, has been negatively impacted by the COVID-19 pandemic. Some of the industries most impacted by the COVID-19 epidemic are those in the hotel, restaurant, and tourism industries. This study uses profitability and leverage to examine whether there are differences in the profitability and leverage situations before and after the COVID-19 epidemic. There are discrepancies between the findings of earlier studies, who found no differences between profitability before and during the COVID-19 epidemic. In this research, a comparative descriptive methodology and a quantitative technique were applied. From 2018 through 2022, financial statistics are used in this analysis. Purposive sampling was used to collect samples, and 25 companies that match the criteria were found. When data were not normally distributed, the non-parametric Wilcoxon signed rank test was employed instead of the paired sample t-test as the normality test. The study's conclusion demonstrates the leverage and profitability of businesses in the travel, dining, and hospitality sectors both before and after the COVID-19 epidemic. In the 25 organizations that were analyzed, the results revealed a significant value (α) of 5% and a decline in the value of profitability and leverage. This indicates that the Indonesian hotel, restaurant, and tourism sub-sector businesses have suffered as a result of the COVID-19 outbreak. This study's findings are anticipated to be used to investment decision-making. Additionally, this research can be used as information by businesses facing profitability and leverage issues before and during the pandemic so that they can take immediate action to maintain their operations going forward.