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The impact of hotel openings on the commercial structure: Evidence from a natural experiment Tourism Economics (IF 4.582) Pub Date : 2024-03-09 Oriol Anguera-Torrell
Hotels and tourist-oriented businesses geographically coagglomerate in urban areas, suggesting that hotels affect the commercial structure around them. Yet, previous evidence is correlational and cannot establish if hotel openings can trigger a tourist-oriented commercial transformation. This paper proposes to fill this gap by using a natural experiment. At the end of 2015, the issuance of licenses
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A novel two-stage combination model for tourism demand forecasting Tourism Economics (IF 4.582) Pub Date : 2024-03-08 Mingming Hu, Haifeng Yang, Doris Chenguang Wu, Shuai Ma
The tourism literature has shown that a combination of tourism forecasting models can provide better performance than individual models. In the literature, the models to be combined are usually subjectively selected and authors focus on the combination method. In this study, a new direction is represented by the integration of forecasts from several models using a two-stage forecasting system. In stage
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Short- and long-term effects of domestic tourism promotion in Argentina after COVID-19 Tourism Economics (IF 4.582) Pub Date : 2024-03-04 Martín Cicowiez, Natalia Porto, Manuela Cerimelo
At the beginning of 2020, the world experienced the COVID-19 pandemic in which several countries all around the world closed their borders and established isolation measures. These types of measures, in line with the spread of the virus, mainly affected those sectors where face-to-face interaction and mobility were central, as it was the case in the tourism sector. As a response to this crisis, some
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Commitment of travel and leisure firms to sustainable development goals Tourism Economics (IF 4.582) Pub Date : 2024-02-27 Martin Thomas Falk, Eva Hagsten
This study investigates the interdependencies of commitments to Sustainable Development Goals as reported by travel and leisure firms active in the United Nations Global Compact Programme. Descriptive statistics reveal that SDG 8 ‘economic growth and decent jobs’ (88%), SDG 13 ‘climate action’ and SDG 5 ‘gender equality’ (SDG 5) (78% each) as well as SDG 12 sustainable production and consumption (75%)
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Cross-domain dynamics: How geopolitical and climate policy uncertainties shape tourism patterns in the United States Tourism Economics (IF 4.582) Pub Date : 2024-02-23 Hela B Hamida
Predicting tourism demand is crucial for policymakers and stakeholders in the tourism industry, enabling them to enhance promotional strategies, optimize marketing efforts, align investments, and achieve operational efficiency. While existing research has highlighted the negative impact of global risk factors such as geopolitical risks, economic policy uncertainty, and climate changes on tourism demand
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Heritage tourism and local prosperity: An empirical investigation of their controversial relationship Tourism Economics (IF 4.582) Pub Date : 2024-02-20 Silvia Cerisola, Elisa Panzera
Cultural heritage and local attractiveness entertain an inextricable relationship. Cultural visitors and tourists are willing to discover and admire different, unique, and outstanding forms of culture and local inhabitants recognize themselves in the symbolic meanings and values carried by their heritage, which inspires proudness and sense of belonging. Furthermore, cultural tourism represents a contributor
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Crowding-in and (temporary) crowding-out in Venice. The effect of cultural events on residents Tourism Economics (IF 4.582) Pub Date : 2024-02-19 Andrea Baldin, Dario Bertocchi, Nicola Camatti
Cultural events are endorsed in urban cultural policy for their economic role in supporting the tourism industry and their social role in strengthening community cohesion. Nevertheless, conflicts can arise between these two objectives, especially in cities already experiencing massive tourism regardless of the staging of major events. Taking Venice as a case study, we investigate the effects that different
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A reexamination of inbound tourism performance Tourism Economics (IF 4.582) Pub Date : 2024-02-16 Aurélie Corne, Sauveur Giannoni, Nicolas Peypoch
This paper proposes to investigate tourism performance by employing fuzzy-set Qualitative Comparative Analysis. International tourist destinations are examined to identify the different paths leading to high levels of tourism arrivals and tourism receipts. The findings demonstrate that tourism performance is complex and requires specific combinations of conditions to succeed. The research identifies
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Macau hotel industry’s response to global shocks Tourism Economics (IF 4.582) Pub Date : 2024-02-16 Aliana Man Wai Leong, Emrah Kocak, Jingyi Bai, Fevzi Okumus
This study examines the Macau hotel industry’s response to global shocks using vector autoregression analysis. According to the findings, the hotel occupancy rate reacts negatively to a one-standard-deviation shock in global geopolitical risk. However, this reaction decreases after the second period and completely loses its effect after the fourth period. Hotel occupancy rate responds weakly and short
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Effect of franchising on the reliability of financial analysts’ earnings forecasts: Evidence from publicly traded US restaurant firms Tourism Economics (IF 4.582) Pub Date : 2024-02-15 Jaehee Gim, Seunghun Shin, Hyejo Hailey Shin
Unlike institutional investors, who have expertise in collecting and analyzing firm information to predict firms’ future performance, individual investors have a limited ability to conduct this task. Therefore, individual investors are known to commonly rely on financial analysts’ earnings forecasts, which are freely available to them. However, as demonstrated by numerous studies, financial analysts’
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Investigating the non-linear impacts of seven types of natural disasters on inbound tourism: Insights from the EM-DAT database Tourism Economics (IF 4.582) Pub Date : 2024-02-13 Léopold T Biardeau, Mondher Sahli
The growing frequency and intensity of disasters due to climate change present considerable risks for tourist destinations, necessitating comprehensive research on their economic impacts. This study investigates the contemporaneous dose-response relationship between natural disasters and inbound tourism by estimating a flexible binned regression model. The analysis is conducted in a panel data setting
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Paycheck Protection Program and lending discrimination in the US hospitality industry Tourism Economics (IF 4.582) Pub Date : 2024-02-13 Gabriela Lelo de Larrea, Mehmet Altin, Emrah Koçak, Fevzi Okumus
This study aims to assess lending discrimination in the Paycheck Protection Program (PPP) in the hospitality industry. PPP is one of the initiatives of the US government in response to the COVID-19 pandemic to support small businesses. While the US Congress aimed to target minority-owned and other businesses at a disadvantage, early research on the program found lending discrimination. This study contributes
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What skills do hospitality executives need for better financial outcomes from internationalization? Tourism Economics (IF 4.582) Pub Date : 2024-01-24 Sujin Song, Sungbeen Park, Seoki Lee
This study examines how characteristics of top executives moderate the effect of internationalization on hospitality firms’ performance. Using US publicly-traded hospitality firms, this study conducts hierarchical linear modeling to investigate how executives’ functional background and operating ability influence the relationship between internationalization and financial outcomes. Findings of this
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Economic incentives for tourists: Evaluating a regional policy measure Tourism Economics (IF 4.582) Pub Date : 2024-01-10 Roberto Cellini, Tiziana Cuccia
This Note examines the effectiveness of a regional policy centered around offering discounted vouchers to tourists. It specifically studies the case of Sicily, which, unlike other Italian regions, implemented this policy between 2021 and 2023 in response to the aftermath of the COVID-19 shock. Difference-in-differences estimates reveal that this intervention has failed to significantly affect tourism
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Does climate policy uncertainty influence corporate cash holdings? Evidence from the U.S. tourism and hospitality sector Tourism Economics (IF 4.582) Pub Date : 2024-01-03 Lei Zhang, Jing Gao
We examine the influence of climate policy uncertainty (CPU) on corporate cash holding decisions of U.S. tourism and hospitality firms. We find that CPU is negatively associated with corporate cash holdings for tourism and hospitality firms in the United States. A further analysis indicates that the impact of CPU on cash holdings lasts 2 years and disappears afterward. We also show that CPU is negatively
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High tide, low price? Flooding alerts and hotel prices in Venice Tourism Economics (IF 4.582) Pub Date : 2023-05-15 Francesco Angelini, Paolo Figini, Veronica Leoni
This research explores the effects of High Tide alerts on hotel prices in Venice, a city that is vulnerable to the impacts of extreme climate events due to its fragile ecosystem and a long history ...
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Evaluating the tourism green productivity and its driving factors in the context of climate change Tourism Economics (IF 4.582) Pub Date : 2023-05-09 Zheng Wang, Jinhua Luo
In the context of global climate changes, the green transformation of tourism industry has become a general trend. This study constructed a comprehensive evaluation model (Super SBM-GML) to measure...
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Slack resources and employee-centered corporate social responsibility in restaurant companies Tourism Economics (IF 4.582) Pub Date : 2023-05-02 Yue Vaughan, Yinyoung Rhou, Yoon Koh, Manisha Singal
Although the importance of superior stakeholder relationships in the Corporate Social Responsibility (CSR) initiatives is well-established in the literature, research on the antecedents of such inv...
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Exploring the tourism markets’ convergence hypothesis in South Korea Tourism Economics (IF 4.582) Pub Date : 2023-04-25 Takashi Matsuki, Lei Pan
This paper examines the tourism markets’ convergence hypothesis across South Korea’s major source markets. In doing so, we use monthly data of visitor arrivals over the period July 1995 to June 201...
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Conformity or differentiation? The effect of competitive strategy on hotel performance Tourism Economics (IF 4.582) Pub Date : 2023-04-07 Beta Septi Iryani, Muhammad Halley Yudhistira, Khoirunurrofik Khoirunurrofik, Djoni Hartono
Hotels often stay close to each other to exploit the agglomeration benefit. However, geographical proximity also parallels competition. This study used annual longitudinal hotel data from the 2016–...
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The impact of FDI restrictions on tourism growth Tourism Economics (IF 4.582) Pub Date : 2023-04-05 Soonchan Park
This study investigates the impact of FDI regulatory restrictions on tourism growth. Using system generalized method of moments (GMM) estimation of the dynamic panel data model, this study finds th...
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Internet use and inverted U-shaped employment polarization in tourism occupations Tourism Economics (IF 4.582) Pub Date : 2023-03-21 Wei Guo, Jing Wang, Yue Kang
The existing literature has not fully explored the polarization of tourism employment and the causes of this polarization, and this article makes contributions to addressing this issue. Using data ...
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Can immigration moderate the adverse effects of political instability on international tourism? A case study of Australia Tourism Economics (IF 4.582) Pub Date : 2023-03-14 Charbel Bassil, Ghialy Yap
We estimate the impact of political instability and the population of immigrants in Australia on the flow of international tourist arrivals. We hypothesize that political instability has a short-te...
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Fine-grained tourism demand forecasting: A decomposition ensemble deep learning model Tourism Economics (IF 4.582) Pub Date : 2023-03-06 Jian-Wu Bi, Tian-Yu Han, Yanbo Yao
Compared with coarse-grained forecasting, fine-grained tourism demand forecasting is a more challenging task, but research on this issue is very scarce. To address this issue, a decomposition ensem...
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Modelling the asymmetric productivity effects of tourism demand Tourism Economics (IF 4.582) Pub Date : 2023-02-22 Nikeel Nishkar Kumar
A recent critique of the tourism-growth literature raises concerns about whether tourism leads to permanent economic growth. We argue that tourism can be linked to total factor productivity. Touris...
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Metaverse research propositions: Online intermediaries Tourism Economics (IF 4.582) Pub Date : 2023-02-19 Apostolos Ampountolas, Giuseppina Menconi, Gareth Shaw
One of the sectors with the fastest growth rates worldwide is the hospitality and tourism industry, although the pandemic caused losses and setbacks for the industry. The potential of the metaverse...
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Collaborative forecasting of tourism demand for multiple tourist attractions with spatial dependence: A combined deep learning model Tourism Economics (IF 4.582) Pub Date : 2023-02-09 Jian-Wu Bi, Tian-Yu Han, Yanbo Yao
To forecast the tourism demand across a set of tourist attractions with spatial dependence, a new model is proposed, which has three stages: tourist attraction selection, base predictor generation,...
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Tourism development and women employment: A study on the European union countries Tourism Economics (IF 4.582) Pub Date : 2023-02-06 Anil Bolukoglu, Tugce Gozukucuk
The intergovernmental institutions recommend tourism development as a policy goal for reducing gender inequality through employment channels. However, such approaches ignore the indirect and induce...
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Does industry resilience matter for postshock industrial policy? A focus on tourism-related industries Tourism Economics (IF 4.582) Pub Date : 2023-02-01 Elena Prodi, Vincenzo Fasone, Marco R Di Tommaso
Selective industrial policies have been increasingly used by governments to achieve desired normative goals. However, they have been revealed to be complex and vulnerable interventions, demanding r...
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Investment sensitivity to market uncertainty in the travel and tourism sector Tourism Economics (IF 4.582) Pub Date : 2023-01-11 Abbas Valadkhani
Raising capital is critical for the future expansion of travel and tourism businesses which have been adversely impacted by the COVID-19 pandemic. Investors sold their travel and tourism stocks bel...
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Industry-specific upskilling of seasonal tourism workers: Does occupational gender inequality matter? Tourism Economics (IF 4.582) Pub Date : 2022-12-19 Vincenzo Fasone, Giulio Pedrini
Due to technological change and growing digitalization of the workplaces, the post-pandemic economic recovery offers opportunities for workers to upgrade their industry-specific skills in different...
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Tourist choice, competitive tourism markets and the effect of a tourist tax on producers revenues Tourism Economics (IF 4.582) Pub Date : 2022-12-13 Asensi Descals-Tormo, José-Ramón Ruiz-Tamarit
We propose a model for the tourism sector assuming basically two markets, one for tourist services and the other for accommodation. These sub-markets are considered as separate but interrelated. Th...
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Current status and future perspective of the link of corporate social responsibility–corporate financial performance in the tourism and hospitality industry Tourism Economics (IF 4.582) Pub Date : 2022-11-24 Seoki Lee, Jihwan Yeon, Hyoung J. Song
The CSR literature has paid close attention to the effect of CSR on corporate financial performance (CFP), well-known as the CSR–CFP link. Based on the instrumental perspective perceiving CSR as an...
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Should antitrust regulators be wary of inter-firm coordination agreements through a tourism destination card? Tourism Economics (IF 4.582) Pub Date : 2022-11-28 Carmen D Álvarez-Albelo, José A Martínez-González
Inter-firm coordination agreements through a destination card (DC) are a widespread profit-increasing strategy in tourism destinations. Literature on tourism economics argues that this type of coor...
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Impact of COVID-19 on individual income in tourism and hospitality industry in India: A difference-in-differences approach Tourism Economics (IF 4.582) Pub Date : 2022-11-17 Abhradeep Maiti
This paper investigates the impact of COVID-19 (or Novel Coronavirus) pandemic on the income and wage of individuals working in tourism and hospitality industry in India. As the tourism and hospita...
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Tourism distribution at competing destinations: Mobility changes and relocation Tourism Economics (IF 4.582) Pub Date : 2022-11-17 Isabel P. Albaladejo, Fuensanta Arnaldos, María Pilar Martínez-García
We present a dynamic model of competing destinations to study the agglomeration and dispersion forces driving long-run geographical distribution of tourism. The relative strength of these forces de...
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The tourism area life cycle hypothesis: A micro-foundation Tourism Economics (IF 4.582) Pub Date : 2022-11-10 Simone Marsiglio, Marco Tolotti
We provide a simple micro-foundation of the tourism area life cycle hypothesis, based on tourists’ utility maximization. As a result of social interactions among tourists which determine destinatio...
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The determinants of aggressive share buybacks: An empirical examination of U.S. publicly traded restaurant firms Tourism Economics (IF 4.582) Pub Date : 2022-11-10 Jaehee Gim, SooCheong Jang
It has become a common practice for restaurant firms to spend amounts exceeding their earnings on share buybacks by depleting their cash reserves or even by borrowing money. Given restaurant firms’...
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Global perspective on the permanent or transitory nature of shocks to tourist arrivals: Evidence from new unit root tests with structural breaks and factors Tourism Economics (IF 4.582) Pub Date : 2022-11-07 James E Payne, Junsoo Lee
This study extends the literature on the permanent or transitory nature of shocks to per capita tourist arrivals along several dimensions. First, the study evaluates the nature of shocks to per cap...
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Tang poetry and tourism: Cultural effects after 1000 years Tourism Economics (IF 4.582) Pub Date : 2022-11-07 Hung Wan Kot, Ming-Hsiang Chen, Ching-Hui (Joan) Su, Yu-Xia Lin
It is impossible to overstate the importance of culture and literature in tourism. Most studies have relied on qualitative evidence to the exclusion of precise secondary data to show a direct link ...
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Do international tourist arrivals change residents’ attitudes towards immigration? A longitudinal study of 28 European countries Tourism Economics (IF 4.582) Pub Date : 2022-11-04 Artjoms Ivlevs, Ian Smith
Can international tourist arrivals change residents’ attitudes towards immigrants and immigration? We discuss possible underlying mechanisms and provide the first evidence on this question using da...
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Does the combination of models With different explanatory variables improve tourism demand forecasting performance? Tourism Economics (IF 4.582) Pub Date : 2022-10-21 Xi Wu, Adam Blake
The aim of this study is to assess whether combining econometric models with different explanatory variables can contribute to better tourism demand forecasts. Inbound tourism demand to the UK from...
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Impact of the Russia–Ukraine war on hospitality equity markets Tourism Economics (IF 4.582) Pub Date : 2022-10-19 Faruk Balli, Mabruk Billah, Iftekhar Chowdhury
This study explores the impact of the Russian–Ukraine war on the hospitality equity sector market for the selected 26 countries. It reveals a sharp spike in the return connectivity at the onset of ...
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A revised perspective on tourism-economic growth nexus, exploring tourism market diversification Tourism Economics (IF 4.582) Pub Date : 2022-10-16 Behnaz Saboori, Zahed Ghader, Abdorreza Soleymani
In this study for the first time, we examined the effect of tourism market diversification (TMD) on economic growth for 109 countries categorized by income groups. Employing Quantile regression, th...
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How important are borders for tourism? The case of Europe Tourism Economics (IF 4.582) Pub Date : 2022-10-13 Federico Carril-Caccia, José María Martín Martín, Francisco Javier Sáez-Fernández
Using a bilateral dataset of trips for 32 European countries for the period 2012–2019, we aim to gauge the size and evolution of the border effect on tourism: the extent to which domestic tourism i...
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Judgmental Adjustments of Algorithmic Hotel Occupancy Forecasts: Does User Override Frequency Impact Accuracy at Different Time Horizons? Tourism Economics (IF 4.582) Pub Date : 2022-10-06 Larissa Koupriouchina, Jean-Pierre van der Rest, Zvi Schwartz
Judgmental adjustments of algorithmic predictions with the aim of improving demand forecast accuracy are a common revenue management practice. While empirical evidence on the impact of these user o...
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Analysing the dynamic co-movement between tourism and expected economic growth considering extreme events Tourism Economics (IF 4.582) Pub Date : 2022-10-04 Jianxu Liu, Vicente Ramos, Bing Yang, Mengjiao Wang, Songsak Sriboonchitta
In the post epidemic period, it is important to clarify the relationship between economic growth and tourism growth. The aim of this study is to characterize the co-movement between expected macroe...
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Does migration fear affect tourism demand? Evidence from instrumental variable cointegration test Tourism Economics (IF 4.582) Pub Date : 2022-09-26 Emrah Kocak, Ali Gokhan Yucel
Migration and migration-caused concerns and uncertainties have been rising dramatically in recent years at the global level. However, our knowledge of the impact of migration-related concerns on to...
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How do hotels expand into new markets? The relationship between hotel agglomeration and entry mode Tourism Economics (IF 4.582) Pub Date : 2022-09-25 Linda Woo, Sung Gyun Mun, Kwanglim Seo
When a hotel decides to open in a new location, it must select a specific entry mode that determines its degree of control and ownership. This study combines agglomeration theory with information e...
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Why tourism economists should treat resident well-being more seriously Tourism Economics (IF 4.582) Pub Date : 2022-09-23 Larry Dwyer
Recognising that well-being is a primary policy objective, tourism economics must incorporate resident well-being outcomes into conceptual analysis, empirical findings and policy assessment in a mo...
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Collusive behaviour, risk and performance of tourism firms Tourism Economics (IF 4.582) Pub Date : 2022-09-23 Vu Quang Trinh, Neelu Seetaram, Kiet Tuan Duong, Xuan Vinh Vo
This paper aims to enrich social network and managerial powers theories by examining the effects of board-CEO friendship ties in tourism firms. Specifically, we focus on the association between the...
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Better-connected boards and their influence on corporate social responsibility: Evidence from U.S. restaurant industry Tourism Economics (IF 4.582) Pub Date : 2022-09-23 Yue Vaughan, Yoon Koh
Many studies on the impact of boards of directors on corporate social responsibility have focused on the human capital of board members (i.e., structures and characteristics). However, the relation...
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Go moderate! How hotels' cancellation policies affect their financial performance Tourism Economics (IF 4.582) Pub Date : 2022-09-22 Mehmet Altin, Chih-Chien Chen, Arash Riasi, Zvi Schwartz
Hotel cancellation policies have shifted considerably in recent years. This is mainly in response to growing rates of last-minute cancellations and no shows and the resulting negative impact on the...
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Examining the effects of sales and marketing on performance: An exploratory study of the timeshare industry Tourism Economics (IF 4.582) Pub Date : 2022-09-21 Kwanglim Seo, Jungtae Soh
The timeshare industry has relied heavily on costly traditional sales and marketing tactics that are extremely labor intensive and consume considerable time and resources. It remains controversial ...
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Specialization versus diversity: The role of city size in tourist cities Tourism Economics (IF 4.582) Pub Date : 2022-09-15 Mulan Ma, Weishu Zhao, Guanxu Wan, Taotao Deng, Yi Yang
The paper examines the impact of specialization and diversity on economic growth of tourist cities. Industrial diversity is decomposed into two parts, related and unrelated diversity (UV). The pape...
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The effect of tourism on the shadow economy: The level of economic development is key Tourism Economics (IF 4.582) Pub Date : 2022-09-14 Ting Xu, Zhike Lv
Using panel data covering the 2002–2015 period for 93 countries, this article provides substantial evidence that economic development levels drive the nonlinear relationship between tourism and the...
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Does healthcare sector development affect inbound tourism? Evidence from ASEAN countries Tourism Economics (IF 4.582) Pub Date : 2022-09-07 Salih Türedi, Mustafa Şit, Haydar Karadağ, Chew Ging Lee
Using the concepts of medical tourism and travel medicine, this research note proposes healthcare sector development has a positive impact on inbound tourism. This hypothesis is tested with the dat...
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Bimodal length of stay in the accommodation sharing economy Tourism Economics (IF 4.582) Pub Date : 2022-09-02 Emilio Gómez–Déniz, Jorge V Pérez–Rodríguez, Juan M Hernández
This paper analyses the determinants of tourist length of stay in sharing accommodation. Methodologically, the paper proposes a new approach to account for the observed bimodality of length of stay...
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Does vaccination help to reduce financial stress on tourism subsectors? Tourism Economics (IF 4.582) Pub Date : 2022-09-02 Oguzhan Cepni
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. There...
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Investigating the determinants of outbound long-haul tourist daily expenditure and length of stay Tourism Economics (IF 4.582) Pub Date : 2022-08-31 Ermias Kifle Gedecho, Lorenzo Masiero, Ernest Balutie Wavei, Richard Tianran Qiu, Provia Kesande
This study investigates the determinants of long-haul tourists’ daily expenditure and length of stay. Relative price competitiveness, travel party size, activity engagement in entertainment, and tr...