Search results

This paper aims  to examine the dynamic spillovers of Federal Reserve’s monetary policy shocks on real house price indices in nine emerging economies, namely China, Brazil, Thailand, Chile, Peru, Mexico, Malaysia, Indonesia and South Africa.

The authors use the local projection method with a panel data set of these countries spanning from 2005Q3 to 2019Q4 to estimate local projections at each period rather than extrapolating into distant periods from a given model.

A pure tightening monetary policy shock is associated with a decline in housing prices in the nine emerging markets. However, the optimistic information about the US macro-economic fundamentals that is embedded in the tightening announcement would increase housing prices. Therefore, the net transmission effects of the US policy rate shocks may be smaller than what previous studies reported. In addition, the authors also find that capital control actions executed by emerging countries are effective in mitigating the spillovers of the US monetary policy.

First, the paper aims to investigate the effects of US monetary policy shocks on housing prices in emerging economies which have not received sufficient scholarly attention. Second, the analysis focuses on both pure monetary policy shocks and the Federal Reserve's information on economic fundamentals contained in its rate announcements. Third, the authors also assess the effectiveness of capital controls imposed by policymakers in emerging countries in mitigating the spillovers of US policy rate shocks on housing prices in emerging markets.

This paper aims to examine the dynamic impacts of the COVID-19 pandemic and government policy on real house price indices in five emerging economies, namely, Brazil, China, Thailand, Turkey and South Africa.

The authors use the local projection method with a panel data set of these countries spanning from January 2020 to July 2021.

The number of COVID-19 confirmed positive cases raised housing prices, whereas government containment measures reduced them. Both conventional and unconventional monetary policy implemented by central banks to cope with the COVID-19 helped increase housing prices. These effects were strengthened by the US monetary policy via globalized financial markets.

First, while previous researches typically concentrated on developed countries, the authors investigate emerging economies where proportionally more people were badly affected by the pandemic. Second, a panel data set of five emerging economies enabled the authors to examine the dynamic effects of the COVID-19 crisis on housing prices. Third, to the best of the authors’ knowledge, this is the first study evaluating the influences of easing monetary policy on housing prices in emerging economies during the pandemic.

This paper aims mainly at introducing applied statisticians and econometricians to the current research methodology with non-Euclidean data sets. Specifically, it provides the basis and rationale for statistics in Wasserstein space, where the metric on probability measures is taken as a Wasserstein metric arising from optimal transport theory.

The authors spell out the basis and rationale for using Wasserstein metrics on the data space of (random) probability measures.

In elaborating the new statistical analysis of non-Euclidean data sets, the paper illustrates the generalization of traditional aspects of statistical inference following Frechet's program.

Besides the elaboration of research methodology for a new data analysis, the paper discusses the applications of Wasserstein metrics to the robustness of financial risk measures.

War is one of the worst characteristics of human nature. Wars over territory, religion, and governance were and are always present through history. War and tourism seem dissonant at first glance. However, the post effects of war enable its components, such as battlefields and artefacts, to become tourist attractions. People share the impetus to visit war attractions such as battlefields, military museums, cemeteries, memorials, and other war-related sites. There is a supply for this type of tourism in exchange for the demand. This type of tourism is referred to in the literature as battlefield tourism. The meaning and definition of battlefield tourism are the main aim of this chapter. What is battlefield tourism? What are the components of battlefield tourism? How can battlefield tourism be defined? These are the primary questions this study tries to address.

This paper aims to provide insights into service innovation (SI) during the COVID-19 crisis and its potential impact on tourism development in the medium-to-long term. The pandemic had a devastating effect on the industry, requiring immediate mitigation. It is yet to fully establish the impact of SI in the face of the COVID-19 volatility, uncertainty, complexity and ambiguity (VUCA). This study discusses the potential link between SI and COVID-19 crisis mitigation and offers recommendations for tourism recovery.

This paper synthesizes empirical evidence on post-crisis tourism SI using a theory-based general literature review approach.

COVID-19 crisis spun various forms of SI, which emerged as a conventional solution to crisis prevention, encompassing the management of crisis-time competitiveness, revenue deficits and risk perception. However, resistance to innovative services is linked to situational conditions.

COVID-19 is an unprecedented crisis. Therefore, this study serves as a primer for further inquiry into SI. For instance, areas such as governance in tourism innovation and consumers' inclination toward innovation-driven services are underexplored.

SI acts as a situational facilitator, but its characteristics can impede or facilitate adoption. Moreover, the irrelevance of innovations in some environments is evidenced. Thus, practitioners must adopt a responsive learning approach in SI adoption. To mitigate the COVID-19 impacts, reconfiguration in SI, recovery marketing strategy, knowledge gap and governance will be critical interventions.

This paper is one of the first comprehensive discussions on the potential role of SI in mitigating the impact of COVID-19 on the THI.

From ancient times, people have been drawn to the sites of past battles to pay their respects, learn about history, and gain a deeper understanding of the sacrifices made by those who fought. Today, battlefield tourism is a popular way for people to connect with the past and honor those who served their countries. Battlefield tourism is a significant component of war tourism and is not a new phenomenon (Smith, 1996). Even before the concepts of dark tourism or thanatourism emerged, studies were mostly carried out within the scope of heritage tourism at battlefields and war-related sites. However, with the increasing interest in the macabre and morbid aspects of history, dark tourism has gained popularity as a distinct form of tourism, encompassing sites related to death, tragedy, and disaster.

The debate about how to interpret war or how battlefield tourism relates to death is not new, and many studies on battlefield tourism compare and contrast various aspects of travel, whether they are dreary, educational, or enjoyable. To examine battlefield tourism from a historical perspective, firstly conceptually, it is necessary to consider how it has been perceived from the past to the present and what structures are involved. This section aims to examine the tourism of the battlefields from a historical perspective. In this context, at the first stage, its development in the literature was examined from a conceptual point of view, and then the turning points where tourism activities started were discussed.

This study aims to investigate the impact of the transformational leadership style on the behaviour of restaurant employees. Also, it was aimed to investigate the effect of transformational leadership on trust and the effect of trust on altruistic intention and organizational commitment.

The study integrates insights from transformational leadership to provide a fresh perspective to advance comparative organizational behaviour research. To test the hypotheses, the authors conduct a multiple analysis with observations from Turkey getting staff in culinary department with a quantitative survey.

This study equips different professional entities in the food and beverage industry with useful, contextualized links between transformational leadership. According to results, the perspective of transformational leadership style affects the concepts of trust, altruistic value and organizational commitment positively. Charisma, moral modelling and individualized consideration had a significant effect on trust. Also, trust has a significant effect on altruistic intention and organizational commitment.

The present study incorporated confidence as a mediating variable; however, it is recommended that alternative scales be used in subsequent research endeavours. Future research endeavours may incorporate theoretical frameworks such as theory of planned behaviour or stimulus-organism-response.

Transformational leadership style is a good acquisition for restaurant employees. There is a healthier and safer job sharing in these restaurants. This can be interpreted as a more satisfied customer. A good leader has a great contribution to the future and sustainability of the business.

This research created a new model and examined employees’ views on the company and its management. As a result of the analysis, it was determined that charisma, moral modelling and individualized consideration had a significant effect on trust.

This assists in learning better service quality developing and business practices to augment culinary staff, thereby maximizing their valuable contributions to tourism growth. This research created a new model and examined employees’ views on the company and its management.

The purpose of this study is to investigate the effects of employee live streamers on consumers' purchase behaviors and brand image, as well as to understand the mediating roles of friendship and self-congruity.

A framework was proposed to explain the influence of employee live streamers' qualities on consumers' behaviors and brand image through the mediators of friendship and self-congruity. Primary data was collected from 225 valid survey responses in China, and the PLS-SEM analysis was employed to test the statistical significance of the hypothesized relationships.

The study found that four qualities of employee live streamers – trustworthiness, attractiveness, responsiveness and expertise – had significant effects on consumers' purchase behaviors and brand image through the mediators of self-congruity and friendship.

This research provides valuable insights into the varying roles of employee live streamers in consumers' decision-making and brand image formation. It offers a theoretical basis for scholars to understand the factors of PSI (parasocial interaction) between consumers and an employee streamer, contributing to the growing body of literature on live streaming and consumer behavior.

本研究旨在调查员工直播主对消费者购买行为和品牌形象的影响, 以及了解友谊和自我一致性在其中的中介作用。

本研究提出了一个框架, 以解释员工直播主的特质通过友谊和自我一致性的中介对消费者行为和品牌形象的影响。在中国收集了225份有效的调查问卷数据, 并采用PLS-SEM分析来测试假设关系的统计显著性。

研究发现员工直播主的四种特质 - 可信度、吸引力、反应能力和专业性 - 通过自我一致性和友谊的中介对消费者的购买行为和品牌形象产生了显著影响。

本研究深入探讨了员工直播主在消费者决策和品牌形象塑造中的不同作用, 为学者们理解消费者与员工直播主之间PSI（伪社交互动）的因素提供了理论基础, 为直播和消费者行为领域的日益增长的文献体系做出了贡献。

This research applies the stimulus-organism-behavior-consequence framework to explore how blockchain-enabled traceability influences trust in organic food producers and retailers, which impacts consumers’ purchase behaviors and subsequent outcomes.

Using a purposive sample of 5,326 Vietnamese consumers, multiple linear and polynomial regression with response surface analysis were employed to examine the hypotheses.

Blockchain-enabled traceability significantly enhances trust in both producers and retailers, which congruently and incongruently influences organic food purchase behaviors. This behavior also drives consumers’ word-of-mouth and repurchase intentions. Serial mediation analysis confirms blockchain’s impact through trust and purchase behaviors.

Stakeholders should adopt blockchain to boost transparency and trust, which increases consumer engagement. Policymakers can support this transition through regulations and incentives to enhance food security and sustainability.

This study expands on blockchain research by applying the stimulus-organism-behavior-consequence framework in the organic food supply chain, showing how blockchain-enhanced trust synergistically affects consumers’ purchase behaviors, word-of-mouth and repurchase intentions.

Based on the Stimulus-Organism-Response Model, this study aims to investigate how the intention of Chinese guests to revisit a hotel (response) is triggered by the quality of the hotel’s hygiene protocols (stimulus) during the pandemic. Brand image, perceived guest satisfaction and perceived customer trust were examined as the organism factors in this model.

The quantitative method was adopted to collect data via a structured online survey of 385 Chinese hotel guests. Their responses were analyzed using SPSS (v.26) and SmartPLS (3.3.2) software.

The quality of hotel hygiene protocols was found to have a significant impact on hotel brand image, perceived guest satisfaction and perceived guest trust. Hotel brand image, perceived guest satisfaction and perceived guest trust, in turn, demonstrated significant relationships with guests’ revisit intention.

Theoretically, the present study offers a framework to understand the impact of hotel hygiene protocols on guest revisit intention. Practically, the findings of the study encourage industry practitioners to implement proper safety protocols and standard operating procedures related to COVID-19.

Since the beginning of the pandemic, hotel hygiene standards have become a key concern for guests. The current study provides important and meaningful insights into whether and how hotel hygiene quality promotes guest revisit intention.