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Relationship of Precrisis Financial Decisions With the Financial Distress and Performance of Small- and Medium-Sized Restaurants During COVID-19 危机前财务决策与中小餐饮企业财务困境及绩效的关系
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-06-06 DOI: 10.1177/19389655231178264
Arun Sharma, Seoki Lee, Michael S. Lin
Based on the trade-off theory of capital structure and the information asymmetry theory of business financing, we evaluated the association of informal financing with the financial performance of small- and medium-sized enterprises (SMEs) in the restaurant industry. This study collected survey responses directly from small- and medium-sized restaurant owners (n = 178) during the COVID-19 pandemic. The findings of the study suggested that reliance on “family, friends, relatives, and third-party lenders” for financing was associated with lower financial performance during a crisis for restaurants. Results were robust when controlled for the owner’s gender, business affiliation, firm age, and relative firm size. Furthermore, we also found that the relative firm size of SMEs moderated this relationship such that, for mid-sized firms ($2–5 million annual revenues), the negative association with financial performance was lower than that for smaller firms (<$2 million annual revenue) and larger firms (>$5 million annual revenues). This article theoretically contributes to the literature by investigating the influence of informal financing on a firm’s performance, and the role of relative firm size within the category of SMEs in this relationship. Findings from the study provide practical guidance for SMEs and informal lenders.
基于资本结构的权衡理论和企业融资的信息不对称理论,我们对餐饮行业中小企业非正式融资与财务绩效的关系进行了评估。本研究在COVID-19大流行期间直接收集了中小型餐馆老板(n = 178)的调查回复。研究结果表明,在危机期间,对“家人、朋友、亲戚和第三方贷款人”的融资依赖与餐馆较低的财务表现有关。当控制了所有者的性别、商业关系、公司年龄和相对公司规模时,结果是稳健的。此外,我们还发现中小企业的相对企业规模调节了这种关系,对于中型企业(年收入为2-5百万美元),与财务绩效的负相关关系低于小型企业(年收入为500万美元)。本文通过研究非正式融资对企业绩效的影响,以及中小企业类别中相对企业规模在这种关系中的作用,在理论上为文献做出了贡献。研究结果为中小企业和非正规贷款机构提供了实践指导。
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引用次数: 0
Compassion in Hotels: Does Person–Organization Fit Lead Staff to Engage in Compassion-Driven Citizenship Behavior? 酒店的同情心:人与组织的契合是否会引导员工参与同情心驱动的公民行为?
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-06-01 DOI: 10.1177/19389655231178267
Pablo Zoghbi-Manrique-de-Lara, P. Ruiz‐Palomino, Jorge Linuesa-Langreo
Existing research on person–organization (P-O) fit (POF) has ignored other-centered mechanisms in explaining why high levels of fit with the work environment increase employee’s organizational citizenship behavior (OCB). Using four factors involved in the compassion process (common humanity, empathic concern, kindness, mindfulness), this article investigates employee compassion as a mediator that explains why POF affects OCB directed toward individuals (OCBI) and the organization (OCBO). Our structural equation modeling analysis on 280 Spanish hotel employees reveals that compassion mediates the relationship between POF and OCBs. However, considering the employment contract of the sample (temporary, permanent), the mediation for OCBO was partial and full among permanent and temporary staff, respectively. These findings suggest that staff who fit their hotel are more likely to be sensitive to others’ setbacks and misfortunes, lessening or alleviating them (compassionately) by performing OCBs. However, compared with permanent staff, temporary staff’s OCBO response to POF is more compassion-driven.
现有的个人-组织(P-O)适应(POF)研究忽略了其他以机制为中心的机制,解释了为什么与工作环境的高度适应会增加员工的组织公民行为(OCB)。本文利用同情过程中涉及的四个因素(共同人性、同理心、善良、正念),调查了员工的同情心作为中介,解释了POF为什么会影响针对个人(OCBI)和组织(OCBO)的OCB。我们对280名西班牙酒店员工的结构方程建模分析表明,同情心在POF和OCB之间起着中介作用。然而,考虑到样本的雇佣合同(临时、永久),OCBO的调解在永久和临时员工中分别是部分和全部的。这些发现表明,适合酒店的员工更有可能对他人的挫折和不幸感到敏感,通过执行OCB来减轻或减轻挫折和不幸(富有同情心)。然而,与长期员工相比,临时员工对POF的OCBO反应更具同情心。
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引用次数: 3
Service Innovation and Emerging Technologies in Tourism and Hospitality 旅游业和酒店业的服务创新和新兴技术
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-04-18 DOI: 10.1177/19389655231166819
Kevin Kam Fung So, X. Li
Innovation is complex, uncertain, somewhat disorderly, and subject to changes of many sorts. Innovation is also difficult to measure and demands close coordination of adequate technical knowledge and excellent market judgment in order to satisfy economic, technological, and other types of constraints—all simultaneously. The process of innovation must be viewed as a series of changes in a complete system not only of hardware, but also of market environment, production facilities and knowledge, and the social contexts of the innovation organization. (Kline & Rosenberg, 2009, p. 275)
创新是复杂的、不确定的、有点无序的,并且受制于多种变化。创新也很难衡量,需要充分的技术知识和出色的市场判断密切协调,以同时满足经济、技术和其他类型的限制。创新的过程必须被看作是一个完整系统的一系列变化,不仅包括硬件,还包括市场环境、生产设施和知识,以及创新组织的社会背景。(克莱恩和罗森博格,2009年,第275页)
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引用次数: 0
Benchmarking Hotel Investment Risk: Differences Based on Types of Hotels 酒店投资风险基准:基于酒店类型的差异
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-04-18 DOI: 10.1177/19389655231164061
J. O’Neill, Joann Zhao, P. Liu, Michael D. Caligiuri
Commercial real estate (CRE) investment involves risk, and hotels are perceived as the riskiest CRE assets because of the high turnover of guest room occupants and are the most operation-intensive of all types of CRE properties. Furthermore, that risk may vary significantly across types of hotels based on different dimensions. The existing academic literature regarding CRE investment performance generally lacks such investigation of hotels at the establishment level. The purpose of the current study is to investigate the volatility of operating profit (risk) of different types of hotel assets. Using relative standard deviations of historical performance (gross operating profit [GOP]) to measure hotel risk, we examine various property characteristics and the extent to which they affect the volatility of GOP at the unit level from 2015 through 2020 of over 3,000 U.S. hotel properties. We find that different types of hotels have carried different levels of risk. Specifically, we find significant differences in risk based on hotel brand affiliation status, class, property type, location type, region in which the hotels are located, age of the hotels, size of the hotels, and their occupancy and average daily rate levels. This study provides practitioners and researchers with an understanding regarding the relationships between the risk of different types of hotels, and provides practitioners with information regarding risk and a benchmarking methodology that may be applied to evaluate risk to aid hotel investment decisions. Furthermore, we provide researchers with information regarding various hotel characteristics that may lead to relatively greater/lesser risk.
商业房地产(CRE)投资涉及风险,酒店被视为风险最高的CRE资产,因为客房入住者的流动性很高,是所有类型的CRE物业中运营最密集的。此外,根据不同的维度,不同类型的酒店的风险可能会有很大差异。现有关于CRE投资绩效的学术文献通常缺乏对酒店在机构层面的调查。本研究的目的是调查不同类型酒店资产的营业利润(风险)的波动性。使用历史业绩(营业总利润[GOP])的相对标准差来衡量酒店风险,我们研究了2015年至2020年美国3000多家酒店的各种物业特征及其对GOP单位水平波动的影响程度。我们发现,不同类型的酒店具有不同的风险水平。具体而言,我们发现,基于酒店品牌隶属状况、类别、物业类型、位置类型、酒店所在地区、酒店年龄、酒店规模、入住率和日均房价水平,风险存在显著差异。这项研究为从业者和研究人员提供了关于不同类型酒店风险之间关系的理解,并为从业者提供了关于风险的信息和可用于评估风险以帮助酒店投资决策的基准方法。此外,我们为研究人员提供了有关各种酒店特征的信息,这些特征可能会导致相对较大/较小的风险。
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引用次数: 0
Enhancing Performance and Perceived Justice in Hospitality Organizations: An Integrated Model of Gender Diversity Within Top Management Teams 在酒店组织中提高绩效和感知公正:高层管理团队中性别多样性的综合模型
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-03-30 DOI: 10.1177/19389655231164063
Minwoo Lee, Michelle Russen, M. Dawson, Juan M. Madera
Prior research has produced conflicting findings regarding the positive outcomes of having gender diversity within top management teams. These studies have not considered the industry-specific context, the incorporation of binary, agender, and transexual traits, and potential non-financial outcomes, which play a role in organizational performance. Therefore, this paper aims to further this research by offering a research framework that is hospitality specific, highlights the benefits of gender diversity, and delineates the impact of gender diversity on firm performance and organizational justice based upon previous research and theories. The authors introduce potential processes and facilitators influencing the relationship between gender diversity, organizational performance, and organizational justice. These mechanisms have the potential to shape strategic changes, influence employee behaviors, increase service levels, and ultimately provide a competitive advantage.
关于高层管理团队性别多元化的积极结果,之前的研究得出了相互矛盾的结果。这些研究没有考虑到行业特定背景、二元性别、性别和变性特征的结合,以及潜在的非财务结果,这些因素在组织绩效中发挥作用。因此,本文旨在通过提供一个特定于酒店业的研究框架来进一步研究,强调性别多样性的好处,并在之前的研究和理论的基础上描述性别多样性对公司绩效和组织公正的影响。作者介绍了影响性别多样性、组织绩效和组织公正之间关系的潜在过程和促进因素。这些机制有可能塑造战略变革,影响员工行为,提高服务水平,并最终提供竞争优势。
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引用次数: 3
A Two-Path Moderated Mediation Model of Customer-Driven Service Innovation 顾客驱动服务创新的双路径调节中介模型
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-03-28 DOI: 10.1177/19389655231161182
F. Xu, E. Ma, Yun Zhang
This study proposes a moderated mediation model of customer-driven hotel employee service innovations. Building on social exchange and social identity theories, we suggest that positive customer–employee exchanges influence employees’ service innovations via direct and indirect paths. While the reciprocal nature of social exchanges was used to explain the direct path from customer–employee exchange to employees’ service innovation, social identity theory was used to explain the indirect path whereby customers’ inputs shape employees’ creative role identities, thus fostering innovation behaviors. The study further tests how organization openness serves as a boundary condition, and the results support the moderating role of organization openness, suggesting that while positive customer–employee exchanges help shape employees’ self-identification (as being creative) and trigger employees’ service innovation, an open organization encourages employees to actively engage in service innovations.
本研究提出了一个由客户驱动的酒店员工服务创新的适度中介模型。基于社会交流和社会认同理论,我们认为积极的客户-员工交流通过直接和间接的途径影响员工的服务创新。社会交流的互惠性被用来解释从客户-员工交流到员工服务创新的直接路径,而社会认同理论被用来解释客户的投入塑造员工创造性角色认同从而促进创新行为的间接路径。该研究进一步检验了组织开放性如何作为边界条件,结果支持组织开放性的调节作用,表明积极的客户-员工交流有助于塑造员工的自我认同(创造性)并引发员工的服务创新,开放的组织鼓励员工积极参与服务创新。
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引用次数: 1
Revenue Analytics: The Problem With Fixed-Tier Pricing 收益分析:固定等级定价的问题
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-02-08 DOI: 10.1177/19389655231152456
Jing Ma, Z. Schwartz
With the widely used fixed-tier computerized pricing system (e.g., based on the best available rate or BAR), fenced discount rates are set and updated as a fixed percentage of the base rate such as the BAR. This intuitive computer-automated solution to a complex pricing issue is, however, theoretically suboptimal. The study demonstrates why the practice of using fixed-tier pricing is suboptimal, showing that this fixed-tier approach is inferior even when the initial set of fenced rates is optimal and even in the unlikely scenario of the various market segments’ demand curves shifting proportionally. As such, practitioners should avoid using a convenient fixed-tier pricing model (BAR-based or not) where only one pricing optimization is run and the rest of the fenced prices are calculated based on this optimized price using fixed percentages. Instead, a fenced-rate pricing system where individual segments are treated independently, and optimizations are run for each segment should be adopted.
在广泛使用的固定层计算机定价系统(例如,基于最佳可用利率或BAR)中,固定贴现率被设定和更新为基准利率(如BAR)的固定百分比。然而,这种针对复杂定价问题的直观的计算机自动化解决方案在理论上是次优的。该研究证明了为什么使用固定层定价的做法是次优的,表明这种固定层方法是次等的,即使在初始的隔离费率是最优的,甚至在各种细分市场的需求曲线按比例移动的不太可能的情况下。因此,从业者应该避免使用方便的固定层定价模型(无论是否基于bar),其中只运行一次定价优化,其余的围栏价格是基于此优化价格使用固定百分比计算的。相反,应该采用一种隔离费率定价系统,其中独立处理各个部分,并对每个部分进行优化。
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引用次数: 0
Comparison of Customer Reviews for Local and Chain Restaurants: Multilevel Approach to Google Reviews Data 本地和连锁餐厅的顾客评论比较:谷歌评论数据的多层次方法
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-02-01 DOI: 10.1177/19389655221102388
Beril Yalçinkaya, D. Just
Online reviews influence customer decisions and present publicly available data to investigate differences between customer evaluations for local and chain businesses. We conduct a text analysis on a sample of 80,728 online customer reviews of quick-service restaurants to examine how the impact of dining experience attributes on customer evaluation differs between the two restaurant types. Estimation of multilevel multinomial models reveals that customer reviews for local restaurants have less polarized sentiment than chain restaurants. This polarization is also evident for sentiment usage related to four dining experience attributes: food, service, ambience, and price. Although food offerings are essential to get high ratings for local restaurants, service quality has a relatively greater impact on customer satisfaction for chains. Although customer reviews favor local restaurants, they need powerful testimonials for differentiation due to high review valence among their local competitors.
在线评论影响客户决策,并提供公开可用的数据,以调查本地和连锁企业客户评估之间的差异。我们对80728家快速服务餐厅的在线顾客评价样本进行了文本分析,以考察用餐体验属性对顾客评价的影响在两种餐厅类型之间的差异。多层次多项式模型的估计表明,与连锁餐厅相比,当地餐厅的顾客评价没有那么两极分化。这种两极分化在与四种用餐体验属性相关的情感使用中也很明显:食物、服务、氛围和价格。尽管食品供应对当地餐馆获得高评价至关重要,但服务质量对连锁店顾客满意度的影响相对较大。尽管顾客评价有利于当地餐馆,但由于当地竞争对手的评价效价很高,它们需要强有力的证明来进行差异化。
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引用次数: 2
All Over the Map 到处都是
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2023-01-04 DOI: 10.1177/19389655221144539
J. Tracey
I admit to thinking that I have a lot more control over the content that is published in the Cornell Hospitality Quarterly (CHQ) than I actually possess. Indeed, journal editors can have a substantial influence in shaping the knowledge base of a specific topic or field of study. However, authors define and determine the content that is ultimately published. Historically, our journal has attracted the attention of scholars whose work is guided by the industry’s current competitive priorities and grounded firmly within an appropriate explanatory framework. As expected, a great deal of the CHQ’s content has a strong customer orientation and emphasis. However, and reflective of the broad array of competitive priorities, many other stakeholder and industry influences are featured. The current issue exemplifies the wide variance in strategic and operational challenges that keep our industry colleagues up at night. From the influences associated with short-term rental platforms and the legal and ethical implications of using online hospitality data, to consumer attitudes about biometric data and factors that can influence workplace conditions, the featured articles demonstrate the breadth of issues that are acutely relevant for hospitality industry professionals. And while the topics may appear to be all over the map, my sincerest thanks to our authors for pursuing research that aligns with the industry’s wide-ranging needs and reinforces the CHQ’s editorial mission. Enjoy!
我承认,我认为我对《康奈尔酒店季刊》(CHQ)上发表的内容的控制权比我实际拥有的要大得多。事实上,期刊编辑在塑造特定主题或研究领域的知识库方面可以产生重大影响。然而,作者定义并确定最终发布的内容。从历史上看,我们的期刊吸引了学者的注意,他们的工作以行业当前的竞争重点为指导,并牢牢地建立在适当的解释框架内。不出所料,CHQ的许多内容都有强烈的客户导向和重点。然而,许多其他利益相关者和行业影响也反映了广泛的竞争重点。当前的问题说明了战略和运营挑战的巨大差异,这些挑战让我们的行业同事彻夜难眠。从与短期租赁平台相关的影响以及使用在线酒店数据的法律和道德影响,到消费者对生物特征数据的态度以及可能影响工作场所条件的因素,专题文章展示了与酒店业专业人士密切相关的问题的广度。虽然这些主题似乎无处不在,但我最衷心地感谢我们的作者进行了符合行业广泛需求的研究,并加强了CHQ的编辑使命。享受
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引用次数: 11
“Best Employers”: The Impacts of Employee Reviews and Employer Awards on Job Seekers’ Application Intentions “最佳雇主”:员工评价和雇主奖励对求职者申请意向的影响
IF 3.5 4区 管理学 Q2 Business, Management and Accounting Pub Date : 2022-11-08 DOI: 10.1177/19389655221130741
Yunxuan (Carrie) Zhang, Cass Shum, Amanda Belarmino
While hospitality researchers have examined the impacts of user-generated content on customers, research regarding the impacts of employee reviews on job seekers’ application intentions is scarce. Yet, labor shortages in the hospitality industry have been amplified in recent years. The tight job market requires organizations to use aggressive and proactive recruitment strategies. As online employee reviews can attract both active and passive job seekers, organizations are increasingly advertising their jobs on these sites. This study draws on the elaboration likelihood model (ELM) and tests the boundary condition of work experience on the effects of overall star-ratings and employer awards on job seekers’ application intention. Through an experimental survey, this study sought to fill the gap regarding the impacts of employee-generated star-ratings and employer awards on job seekers’ application intentions. Both star-ratings and employer awards are positively related to organizational prestige. Hospitality work experience moderates the relationship between star-ratings and organizational prestige. The relationship is stronger for novice job seekers than for experienced job seekers. Organizational prestige, in turn, increases job seekers’ application intentions. Our findings extend the recruitment literature and highlight the potential usage of ELM as an explorative framework in hospitality recruitment research. The study also provides suggestions for hospitality employers to attract job seekers.
虽然酒店研究人员已经研究了用户生成的内容对客户的影响,但关于员工评论对求职者申请意向的影响的研究却很少。然而,近年来,酒店业的劳动力短缺问题日益严重。紧张的就业市场要求各组织采用积极主动的招聘策略。由于在线员工评论既能吸引主动求职者,也能吸引被动求职者,各组织越来越多地在这些网站上为自己的工作做广告。本研究借鉴了精化似然模型(ELM),检验了工作经验的边界条件对整体星级和雇主奖励对求职者申请意向的影响。通过一项实验性调查,本研究试图填补员工星级和雇主奖励对求职者申请意向影响的空白。星级评定和雇主奖都与组织声望呈正相关。酒店工作经验调节星级评定和组织声望之间的关系。对于新手求职者来说,这种关系比有经验的求职者更牢固。组织声望反过来又增加了求职者的求职意向。我们的研究结果扩展了招聘文献,并强调了ELM作为酒店招聘研究探索性框架的潜在用途。该研究还为酒店业雇主吸引求职者提供了建议。
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引用次数: 1
期刊
Cornell Hospitality Quarterly
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