Pub Date : 2023-05-15DOI: 10.1177/13548166231174270
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 of floods in the city center. By analyzing and combining price data from Booking.com with publicly available information on tides and weather, this study uses regression discontinuity design to test for changes in hotel prices when tide levels reach a critical threshold. The results offer insights into the sensitivity of hotel prices to weather alerts and provide valuable information on the potential impact of climate change on Venice’s tourism-driven economy, with implications for the cost–benefit analysis of activating protective barriers for lagoon protection.
{"title":"High tide, low price? Flooding alerts and hotel prices in Venice","authors":"Francesco Angelini, Paolo Figini, Veronica Leoni","doi":"10.1177/13548166231174270","DOIUrl":"https://doi.org/10.1177/13548166231174270","url":null,"abstract":"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 of floods in the city center. By analyzing and combining price data from Booking.com with publicly available information on tides and weather, this study uses regression discontinuity design to test for changes in hotel prices when tide levels reach a critical threshold. The results offer insights into the sensitivity of hotel prices to weather alerts and provide valuable information on the potential impact of climate change on Venice’s tourism-driven economy, with implications for the cost–benefit analysis of activating protective barriers for lagoon protection.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46056558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1177/13548166231173171
Han Liu, Peng Yang, Haiyan Song, D. Wu
This study investigates the impacts of global economic policy uncertainty (GEPU) and domestic (Chinese) economic policy uncertainty (CEPU) on the long-run volatility of the tourism stock market in China based on an improved GARCH–MIDAS–X model. Empirical results reveal that both CEPU and GEPU have significant negative effects on the long-run volatility of China’s tourism stock market. It is further identified that the impact of GEPU on tourism companies’ performance is short-lived. The findings suggest that tourism-related practitioners should monitor both CEPU and GEPU when conducting risk assessments related to tourism investment and policymaking.
{"title":"Global and domestic economic policy uncertainties and tourism stock market: Evidence from China","authors":"Han Liu, Peng Yang, Haiyan Song, D. Wu","doi":"10.1177/13548166231173171","DOIUrl":"https://doi.org/10.1177/13548166231173171","url":null,"abstract":"This study investigates the impacts of global economic policy uncertainty (GEPU) and domestic (Chinese) economic policy uncertainty (CEPU) on the long-run volatility of the tourism stock market in China based on an improved GARCH–MIDAS–X model. Empirical results reveal that both CEPU and GEPU have significant negative effects on the long-run volatility of China’s tourism stock market. It is further identified that the impact of GEPU on tourism companies’ performance is short-lived. The findings suggest that tourism-related practitioners should monitor both CEPU and GEPU when conducting risk assessments related to tourism investment and policymaking.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44323125","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-09DOI: 10.1177/13548166231174769
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 the tourism green productivity (TGP) and used methods including kernel density estimation, spatiotemporal transition, and quantile regression to analyze the evolutionary characteristics and driving factors of province-level TGP in China between 2009 and 2019. The results showed the following: (1) China’s TGP exhibited a two-stage growth trend, maintaining steady growth before 2014 and accelerating thereafter. (2) Regarding the dynamic evolutionary characteristics, the local spatial structure of provincial TGP remains unstable, and the provinces themselves can change their relative positions relatively easily, showing certain characteristics of spatial agglomeration and dynamic interaction. (3) The spatiotemporal network pattern of provincial tourism green productivity was dominated by positive correlations, indicating that the overall collaborative dynamics between provinces were stronger than the competition. However, a certain degree of spatiotemporal competition could be found between some neighboring provinces. (4) The TGP is affected by various driving factors such as tourism economic scale, industrial structure, scientific and technological innovation and environmental regulations, but the driving intensity and direction of each factor differ significantly across the TGP developmental stages.
{"title":"Evaluating the tourism green productivity and its driving factors in the context of climate change","authors":"Zheng Wang, Jinhua Luo","doi":"10.1177/13548166231174769","DOIUrl":"https://doi.org/10.1177/13548166231174769","url":null,"abstract":"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 the tourism green productivity (TGP) and used methods including kernel density estimation, spatiotemporal transition, and quantile regression to analyze the evolutionary characteristics and driving factors of province-level TGP in China between 2009 and 2019. The results showed the following: (1) China’s TGP exhibited a two-stage growth trend, maintaining steady growth before 2014 and accelerating thereafter. (2) Regarding the dynamic evolutionary characteristics, the local spatial structure of provincial TGP remains unstable, and the provinces themselves can change their relative positions relatively easily, showing certain characteristics of spatial agglomeration and dynamic interaction. (3) The spatiotemporal network pattern of provincial tourism green productivity was dominated by positive correlations, indicating that the overall collaborative dynamics between provinces were stronger than the competition. However, a certain degree of spatiotemporal competition could be found between some neighboring provinces. (4) The TGP is affected by various driving factors such as tourism economic scale, industrial structure, scientific and technological innovation and environmental regulations, but the driving intensity and direction of each factor differ significantly across the TGP developmental stages.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47795709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-02DOI: 10.1177/13548166231172860
Yue Vaughan, Yinyoung Rhou, Y. 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 investments on salient stakeholders, like employees, and in particular industry contexts is lacking. In this paper, we explore an important antecedent of employee-centered CSR initiatives in the restaurant industry, that is, slack resources. We consider the restaurant industry an ideal context for this study due to the prevalence of limited slack resources, and the salience of employees for customer service, satisfaction, and eventual firm performance. Using a panel dataset of 430 observations of publicly traded firms in the USA, we find that slack resources contribute to socially responsible policies towards employees, yet slack resources do not alleviate any employee-related concerns in the restaurant sector. The findings on the differential effect of slack resources on employee-centered CSR initiatives and concerns provide practical implications and directions for future research.
{"title":"Slack resources and employee-centered corporate social responsibility in restaurant companies","authors":"Yue Vaughan, Yinyoung Rhou, Y. Koh, Manisha Singal","doi":"10.1177/13548166231172860","DOIUrl":"https://doi.org/10.1177/13548166231172860","url":null,"abstract":"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 investments on salient stakeholders, like employees, and in particular industry contexts is lacking. In this paper, we explore an important antecedent of employee-centered CSR initiatives in the restaurant industry, that is, slack resources. We consider the restaurant industry an ideal context for this study due to the prevalence of limited slack resources, and the salience of employees for customer service, satisfaction, and eventual firm performance. Using a panel dataset of 430 observations of publicly traded firms in the USA, we find that slack resources contribute to socially responsible policies towards employees, yet slack resources do not alleviate any employee-related concerns in the restaurant sector. The findings on the differential effect of slack resources on employee-centered CSR initiatives and concerns provide practical implications and directions for future research.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48173436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-01DOI: 10.1177/13548166211067191
Faruk Urak, Nihat Küçük, A. Bilgiç, S. Yen
Censoring, extreme values, and non-normal distribution are common features in microdata. These data features can compromise the statistical distributions of the estimators when an appropriate model is not used. We use an inverse hyperbolic sine (IHS) transformation in the double-hurdle (DH) model to accommodate extreme values and skewness in censored accommodation spending among Turkish households. The full-parameterized model nests many restricted specifications which do not accommodate dependence, heteroscedasticity, and non-normality in the error terms. Statistical test results support the use of the fully parameterized dependent IHS-DH specification. The statistically significant correlation between the binary and level decisions of accommodation precludes the use of a model with a two-step structure. Some of the findings in our study have a determining or driving force in expressing causality relationship in monthly accommodation probability and level decisions. The study made also prudent policy recommendations about what the results might mean to policymakers and stakeholders.
{"title":"Modeling censored tourism expenditures in Turkey with non-normal and heteroscedastic errors: An application of the inverse hyperbolic sine double-hurdle model","authors":"Faruk Urak, Nihat Küçük, A. Bilgiç, S. Yen","doi":"10.1177/13548166211067191","DOIUrl":"https://doi.org/10.1177/13548166211067191","url":null,"abstract":"Censoring, extreme values, and non-normal distribution are common features in microdata. These data features can compromise the statistical distributions of the estimators when an appropriate model is not used. We use an inverse hyperbolic sine (IHS) transformation in the double-hurdle (DH) model to accommodate extreme values and skewness in censored accommodation spending among Turkish households. The full-parameterized model nests many restricted specifications which do not accommodate dependence, heteroscedasticity, and non-normality in the error terms. Statistical test results support the use of the fully parameterized dependent IHS-DH specification. The statistically significant correlation between the binary and level decisions of accommodation precludes the use of a model with a two-step structure. Some of the findings in our study have a determining or driving force in expressing causality relationship in monthly accommodation probability and level decisions. The study made also prudent policy recommendations about what the results might mean to policymakers and stakeholders.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"29 1","pages":"718 - 741"},"PeriodicalIF":4.4,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41580863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-25DOI: 10.1177/13548166231171634
Takashi Matsuki, L. 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 2019 and adopt a novel quantile unit root tests that allows for multiple structural breaks via a Fourier expansion series. Our results indicate that seven countries out of 10 show firm convergence tendencies at most of the quantiles, and two countries have weak but significant converging trends at some quantiles.
{"title":"Exploring the tourism markets’ convergence hypothesis in South Korea","authors":"Takashi Matsuki, L. Pan","doi":"10.1177/13548166231171634","DOIUrl":"https://doi.org/10.1177/13548166231171634","url":null,"abstract":"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 2019 and adopt a novel quantile unit root tests that allows for multiple structural breaks via a Fourier expansion series. Our results indicate that seven countries out of 10 show firm convergence tendencies at most of the quantiles, and two countries have weak but significant converging trends at some quantiles.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"29 1","pages":"1960 - 1971"},"PeriodicalIF":4.4,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47887122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-19DOI: 10.1177/13548166231167648
Peiying Dang, Linjing Ren, Jie Li
Debates on whether tourism has pro-poor effects remain imperative and unsettled owing to the discrepancy of research perspectives, estimation techniques, data source, study regions, and variables designs, etc. With the eradication of absolute poverty in China, the focus of tourism-relative poverty nexus could get deeper insights into the poverty reduction efficacy of tourism development in developing countries. This study examines the impacts of rural households’ tourism participation on relative poverty using the survey data from 22 pro-poor tourism villages located in western China and the endogenous switching probit (ESP) model. The results show that participating in rural tourism reduces both objective and subjective relative poverty. However, it has no direct effect on subjective poverty, but exerts an indirect effect by decreasing objective poverty. Furthermore, heterogeneous effect analysis shows dual impacts. On the one hand, it brings reduction of relative poverty probability for tourism participants; on the other hand, it exacerbates the relative gap by individual endogenous capital endowments and narrows the gap by exogenous targeted poverty alleviation (TPA) policy interventions. Our findings extend theoretical significance of the pro-poor tourism arguments by clarifying the pro-poor effects and the pathways of rural tourism on both objective and subjective relative poverty at the household level. It also provides empirical evidence for improving the current anti-poverty policy related to rural tourism in China.
{"title":"Does rural tourism reduce relative poverty? Evidence from household surveys in western China","authors":"Peiying Dang, Linjing Ren, Jie Li","doi":"10.1177/13548166231167648","DOIUrl":"https://doi.org/10.1177/13548166231167648","url":null,"abstract":"Debates on whether tourism has pro-poor effects remain imperative and unsettled owing to the discrepancy of research perspectives, estimation techniques, data source, study regions, and variables designs, etc. With the eradication of absolute poverty in China, the focus of tourism-relative poverty nexus could get deeper insights into the poverty reduction efficacy of tourism development in developing countries. This study examines the impacts of rural households’ tourism participation on relative poverty using the survey data from 22 pro-poor tourism villages located in western China and the endogenous switching probit (ESP) model. The results show that participating in rural tourism reduces both objective and subjective relative poverty. However, it has no direct effect on subjective poverty, but exerts an indirect effect by decreasing objective poverty. Furthermore, heterogeneous effect analysis shows dual impacts. On the one hand, it brings reduction of relative poverty probability for tourism participants; on the other hand, it exacerbates the relative gap by individual endogenous capital endowments and narrows the gap by exogenous targeted poverty alleviation (TPA) policy interventions. Our findings extend theoretical significance of the pro-poor tourism arguments by clarifying the pro-poor effects and the pathways of rural tourism on both objective and subjective relative poverty at the household level. It also provides empirical evidence for improving the current anti-poverty policy related to rural tourism in China.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45458830","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-07DOI: 10.1177/13548166231167292
Beta Septi Iryani, M. Yudhistira, Khoirunurrofik Khoirunurrofik, D. 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 2016–2019 Indonesian Accommodation Survey to examine the relationship between competitive strategy and hotel performance. We constructed a capacity and quality distance index to capture hotel strategies and used the panel fixed effect method to address possible sorting behavior. Our estimates broadly suggest that conformity corresponds to a higher total revenue per available room. We attribute the result to labor pooling and lower consumer searching cost mechanisms. The results show that hotels that implement a conformity strategy in capacity or quality with neighboring hotels tend to have a higher total revenue per available room. It implies that a hotel’s conformity strategy can be a reference for investors and hoteliers in planning a profitable hotel business and creating sustainable and quality tourism.
{"title":"Conformity or differentiation? The effect of competitive strategy on hotel performance","authors":"Beta Septi Iryani, M. Yudhistira, Khoirunurrofik Khoirunurrofik, D. Hartono","doi":"10.1177/13548166231167292","DOIUrl":"https://doi.org/10.1177/13548166231167292","url":null,"abstract":"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 2016–2019 Indonesian Accommodation Survey to examine the relationship between competitive strategy and hotel performance. We constructed a capacity and quality distance index to capture hotel strategies and used the panel fixed effect method to address possible sorting behavior. Our estimates broadly suggest that conformity corresponds to a higher total revenue per available room. We attribute the result to labor pooling and lower consumer searching cost mechanisms. The results show that hotels that implement a conformity strategy in capacity or quality with neighboring hotels tend to have a higher total revenue per available room. It implies that a hotel’s conformity strategy can be a reference for investors and hoteliers in planning a profitable hotel business and creating sustainable and quality tourism.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42263436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-05DOI: 10.1177/13548166231168528
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 that FDI restrictions have significant negative effects on tourism growth, implying that liberalizing FDI policies could promote tourism growth.
{"title":"The impact of FDI restrictions on tourism growth","authors":"Soonchan Park","doi":"10.1177/13548166231168528","DOIUrl":"https://doi.org/10.1177/13548166231168528","url":null,"abstract":"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 that FDI restrictions have significant negative effects on tourism growth, implying that liberalizing FDI policies could promote tourism growth.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" ","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48657986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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