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The purpose of this study is to examine how a hotel virtual reality photography (VRP) preview enhances customers’ immediate booking intention compared to a picture preview.

Data were collected using a one-factor between-subject experimental design and time-based systematic sampling. Respondents were asked to read a scenario on an iPad and assess a hotel preview (VRPs vs pictures) before answering the questionnaire.

The results show that a hotel VRP preview generates more mental imagery than a picture preview in terms of quantity, vividness, modality and valence. These four dimensions of mental imagery indirectly influence customers’ immediate booking intentions through perceived utilitarian value and hedonic value, among which modality has the greatest influence on utilitarian value and valence has the greatest influence on hedonic value. Moreover, utilitarian value has a stronger impact on customers’ immediate booking intentions than does hedonic value.

The results obtained in this study contribute to hospitality research by using cognitive consistency theory as the overarching framework, combining mental imagery theory, media richness theory and perceived value theory to explain the mechanism of tourists’ hotel booking decision-making from hotel previews. Comparing this study’s results with previous studies shows the difference in the effects of 360° (head-mounted) videos, VRPs and pictures on evoking mental imagery across tourism and hotel products, updating our knowledge of VR technology in tourism marketing.

本研究旨在探讨与图片预览相比, 酒店虚拟现实摄影（VRP）预览如何增强客户的即时预订意图。

本研究采用单因素被试间实验设计和时间系统抽样收集数据。受试者在 iPad 上阅读场景并评估酒店预览（VRP与图片）, 然后填写问卷。

结果表明, 酒店VRP预览在心理意象的数量、生动性、感官模式和情感效价方面比图片预览生成更多的心理意象。这四个维度的心理意象通过感知的工具价值和享乐价值间接影响客户的即时预订意图, 其中感官模式对工具价值的影响最大, 情感效价对享乐价值的影响最大。此外, 工具价值对客户的即时预订意图的影响强于享乐价值。

本研究利用认知一致性理论作为总体框架, 结合心理意象理论、媒介丰富度理论和感知价值理论, 解释了游客在酒店预览中做出预订决策的机制。本研究结果与以往研究相比, 展示了360°（头戴式）视频、VRP和图片在唤起旅游和酒店产品心理意象方面的差异, 更新了我们对旅游营销中VR技术的理解。

The purpose of our study is to investigate the effects of politically-connected boards (PCBs) on over-(under-)investment in labor. We also examine the impacts of the supervisory board (SB)’s optimal tenure on the association between PCBs and over-investment in labor.

We constructed the proxy for PCBs using a dummy variable set to 1 (one) if a firm has politically-connected boards and zero (0) otherwise. For the robustness check, we used the number of politically-connected members on the boards as the proxy for PCBs.

We find that the presence of PCBs reduces over-investment in labor. Consistent with our prediction, we found no significant association between PCBs and under-investment in labor. We also find that the SB with optimal tenure strengthens the negative association between PCBs and over-investment in labor. In our channel analysis, we find that the presence of PCB mitigates over-investment in labor through a higher dividend payout ratio.

Due to the unavailability of data in firms’ annual reports regarding the number of poorly-skilled and highly skilled employees, we were not able to examine the effect of low-skilled and high-skilled employees on over-investment in labor. Also, we were not able to examine over-(under-)investment in labor by drawing a distinction between general (generalist) and firm-specific human capital (specialist) as suggested by Sevcenko, Wu, and Kacperczyk (2022). Generally, it is more difficult for managers to hire highly-skilled employees, specialists in particular, thereby driving the choice of either over- or under-investing in the labor forces. In addition, in the firms’ annual reports, there is no information regarding temporary employees. Therefore, if and when such data become available, this would provide another avenue for future research.

Our study offers several practical implications and insights to stakeholders (e.g. insiders or management, shareholders, investors, analysts and creditors) in the following ways. First, our study highlights significant differences between capital investment and labor investment. For instance, labor investment is considered an expense rather than an asset (Wyatt, 2008) because, although such investment is human capital and is not recognized on the firm’s balance sheet (Boon et al., 2017). In addition, labor investment is characterized by: its flexibility which enables firms to make frequent adjustments (Hamermesh, 1995; Dixit & Pindyck, 2012; Aksin et al., 2015), its non-homogeneity since every employee is unique (Luo et al., 2020), its direct impact on morale and productivity of a firm (Azadegan et al., 2013; Mishina et al., 2004; Tatikonda et al., 2013), and its financial outlay which affects the ongoing cash flows of a firm (Sualihu et al., 2021; Khedmati et al., 2020; Merz & Yashiv, 2007). Second, our findings reveal that the presence of PCBs could help to reduce over-investment in labor. However, if managers of a firm choose to under-invest in labor in order to obtain better profit in the short-term through cost saving, they should be aware of the potential consequences of facing a financial loss when a new business opportunity suddenly arises which requires a larger labor force. Third, our findings help stakeholders to re-focus on the labor investment. This is crucial due to the fact that labor investment is often neglected by those stakeholders because the expenditure of labor investment is not recognized on the firm’s balance sheet as an asset. Instead, it is written off as an expense in the firm’s income statement. Fourth, our findings also provide insightful information to stakeholders, suggesting that an SB with optimal tenure is more committed to a firm, and this factor plays an important role in strengthening the negative association between PCBs and over-investment in labor.

First, our findings provide a valuable understanding of the effects of PCBs on over-(under-)investment in labor. Stakeholders could use information disclosed in the financial statements of a publicly-listed firm to determine the extent of the firm’s investment in labor and PCBs, and compare this information with similar firms in the same industry sector. Second, our findings give a better understanding of the association between investment in labor and political connections , which are human and social capital that could determine the long-term survival and success of a firm. Third, for shareholders, the appointment of board members with political connections is an important strategic decision to build political capital, which is likely to have a long-term impact on the financial performance of a firm; therefore, it requires thoughtful consultation with firm insiders.

Our findings highlight the role of PCBs in reducing over-investment in labor. These findings are significant because both investment in labor and political connections as human and social capital can play an important role in determining the long-term survival and success of a firm.

By applying the American Customer Satisfaction Index (ACSI) model to virtual art exhibitions, this research aims to reveal insights into the factors impacting visitor satisfaction and electronic word-of-mouth (e-WOM). Furthermore, the investigation of exhibition promotion seeks to understand how external factors contribute to the overall visitor experience in virtual art exhibitions.

With advancements in virtual communication technology and the transformative impact of the COVID-19 pandemic in recent years, there has been a notable surge in the popularity of virtual art exhibitions based on the Internet. This study uses the ACSI model to examine visitor satisfaction and e-WOM in virtual art exhibitions. Additionally, it explores the influence of exhibition promotion on the ACSI model.

Key findings revealed that 1) both promotion efforts and e-WOM exhibited significant relationships with the ACSI model, and 2) most of the relationships within the ACSI model were consistent with previous research outcomes.

This study extends the ACSI model’s application to virtual art exhibitions, enhancing its relevance. Additionally, it addresses the knowledge gap concerning the direct impact of promotion on audience expectations and its relationship with the ACSI model in virtual art exhibitions. Furthermore, the research explores the influence of customer satisfaction on electronic word-of-mouth in exhibitions, offering valuable insights for exhibition evaluation systems. The study serves as a guide, providing data and models for researchers investigating virtual art exhibitions.

This study aims to inspect the impact of US climate policy uncertainty (CPU) on the economic growth of Asian countries with the moderating role of crude oil price (COP) changes.

The Im-Pesaran Sin and Fisher-type tests are used for stationarity check, while Kao and Pedroni tests are used for cointegration analysis. The Hausman test is applied for model selection, where pooled mean group autoregressive distributed lag (PMG/ARDL) has been selected and applied. Besides, the fully modified ordinary least squares is also used for robustness analysis. Additionally, the literature review and descriptive statistics have been used.

The main findings disclosed that US CPU negatively impacted the economic growth of Asian economies with high significance in the long run whereas insignificant in the short run. The results further concluded that COP positively affected economic growth both in the short and long run. Furthermore, the results also revealed that COP significantly and positively moderates the relationship between CPU and COP in the long and short run.

The study is the first of its kind to examine the impact of the US CPU on the economic growth of Asian economies. Second, it further revealed the moderating role of COP between US CPU and economic growth. Third, a large panel of data from Asian countries has been considered. Fourth, the study adds to the current literature by using the PMG/ARDL model to determine the impact of US CPU on economic growth. Additionally, this study focuses on the US CPU because it is a developed country playing a significant role in energy and climate issues, and has been very uncertain.

This paper aims to investigate the actual impact, mechanism and internal and external environmental adjustment effect of ESG performance on the persistence of green innovation using data from China’s A-share manufacturing listed companies from 2009 to 2021.

Panel data regression models are used to explore the effect of ESG performance of manufacturing enterprises on the persistence of green innovation. To examine the mechanism of ESG performance affecting the persistence of green innovation of manufacturing enterprises, this paper refers to the research of Wen and Ye (2014) and constructs an analysis framework of intermediary effect.

This research was funded by Shandong Provincial Natural Science Foundation, grant number ZR2023MG075 & ZR2024QE171.

There are a few more limitations to this study that might be discussed from the following angles: first, due to data availability, this paper examines the persistence of green innovation from the output perspective. The authors can expand the data sources in the future and investigate the input-output combinations in green innovation as a means of understanding its sustainability. Second, the mechanism studied in this paper includes management costs, entry of green investors and risk-taking ability. In fact, it is possible that ESG performance influences green innovation persistence in other ways as well; these can be investigated more in the future.

First, it concentrates on the persistence of green innovation in manufacturing enterprises, surpassing the quantitative aspect and thereby broadening the research scope. Second, by including the “management expense ratio,” “green investor entry” and “risk-taking” as mediating factors, the study delves deeper into the mechanisms through which ESG performance impacts the persistence of green innovation in manufacturing enterprises, further broadening the research scope. Third, this research incorporates the internal and external environments encountered by manufacturing enterprises into the analytical framework to investigate their adjustment effects in the process of ESG performance influencing persistent green innovation, thus widening the research perspective. Fourth, this study introduces the subdimensions of ESG performance, specifically environmental responsibility, social responsibility and corporate governance, and assesses their impacts on the persistence of green innovation in manufacturing enterprises, thus enriching the research narrative.

In the context of green development in China, the circumstance in which Environmental, Social and Governance (ESG) ratings function has changed. As an important external governance mechanism of sustainable development, ESG ratings can also be a two-edged sword for the implementation of carbon emission reduction. This research examines the connection of ESG ratings and corporate carbon emission reduction in the context of green development. This present study postulates that the impact of ESG ratings on carbon emission reduction performance in the context of green development is inverted U-shaped.

To obtain empirical evidence for the hypotheses proposed, this study makes an empirical test based on the two-way fixed effects model. The data is taken from listed Chinese manufacturing firms between 2012 and 2021.

The study reveals that there is a significant inverted U-shape relationship between ESG ratings and carbon emission reduction performance in the context of green development. Managerial myopic behaviour plays a positive moderating role in the above relationship. In addition, it makes the inflection point of inverted U-shaped curve move to left. Heterogeneity analyses show that the above inverted U-shaped relationship is more significant for firms that don’t hire CEO with environmental protection background or big four accounting firms.

In the background of green development, this study helps to understand dual influence of ESG ratings on corporate carbon emission reduction deeply. It is beneficial to guide enterprises to utilize ESG ratings mechanism reasonably, thus enhancing the effectiveness of carbon emission reduction. This study provides decision-making reference for government to accelerate low-carbon transformation in microcosmic field.

The study investigated the predictive role of supportive leadership and psychological safety for mindful organizing and the subsequent impact of mindful organizing on individual task performance. Mindful organizing, a concept from high-reliability organizations (HROs), can improve performance in various industrial settings. The limited availability of novel predictors for mindful organizing necessitates exploring this concept in the context of adventure tourism.

Through a cross-sectional research approach, 394 respondents were selected from the adventure tourism industry in Malaysia. The proposed causal research model was evaluated through structural equation modeling (SEM), aggregation and bootstrapping.

Psychological safety and supportive leadership significantly impacted mindful organizing. Mindful organizing, in turn, was positively associated with individual task performance. The mediating role of mindful organizing between psychological safety and task performance was statistically significant. However, the mediating role of mindful organizing between supportive leadership and task performance was not statistically significant.

Managers in the adventure tourism industry should consider applying mindful organizing to increase employee productivity and develop collective sensemaking. Also, developing a culture of support among managers and coworkers, emphasizing the team's psychological safety, may boost the morale and productivity of the workforce.

This research has identified and empirically tested new antecedents, psychological safety and leadership for mindful organizing in the adventure tourism context and has addressed a significant research gap (Sutcliffe et al., 2016) by broadening the scope of mindful organizing research to encompass contexts beyond those exclusively considered HROs.

The surge in the older population has gained significant interest within the tourism sector worldwide. Little empirical research has been conducted to examine the role of tourism experiences on older adults’ healthy aging. Based on Rowe and Kahn’s (1987) successful aging model, this study utilized a qualitative approach to examine the health benefits that tourism can play for seniors.

A total of 19 interviews were conducted with senior adults living in Macau aged over 60. Thematic analysis was employed for data analysis.

The results demonstrate that the tourism experience contributes to healthy aging in three ways: first, nature-based tourism benefits seniors’ physical health; second, the social interactions with friends, relatives, locals and fellow travelers during tourism activities benefit seniors' emotional well-being and third, transcendent tourism experiences can exhibit positive spirituality among seniors.

This paper not only enriches the theoretical and empirical studies on tourism and healthy aging but also puts forward relevant empirical suggestions to destination marketing organizations that target the senior tourist market.

Corporate site visits increase labor investment efficiency.

Our empirical model for the baseline analysis follows those of Jung et al. (2014) and Ghaly et al. (2020).

We show that corporate site visits are associated with significantly higher labor investment efficiency; more specifically, site visits reduce both over-hiring and under-hiring of employees. The effect of site visits on labor investment efficiency is more pronounced for firms with higher labor adjustment costs, greater financial constraints, weaker corporate governance and lower financial reporting quality. We also find that site visits mitigate labor cost stickiness.

First, while the literature has suggested how the presence of institutional investors and analysts may affect labor investment decisions, we focus on institutional investors and analysts’ activities and interactions with firm executives. We provide direct evidence that institutional investors and analysts may use corporate site visits to improve labor investment efficiency. Second, our study adds to a line of recent studies on how corporate site visits reduce information asymmetry and agency conflicts. We show that corporate site visits allow institutional investors and analysts to influence labor investment efficiency. We also provide new evidence that corporate site visits reduce labor cost stickiness.

Provisions for the minimisation of human error are essential through governance structures such as recruitment, human resource allocation and education/training. As predictors of safety attitudes/behaviours, employees’ personality traits (e.g. conscientiousness, sensation-seeking, agreeableness, etc.) have been examined in relation to human error and safety education.

This review aimed to explore research activity on the safety attitudes of healthcare staff and their relationship with the different types of personalities, compared to other complex and highly regulated industries. A scoping review was conducted on five electronic databases on all industrial/work areas from 2001 to July 2023. A total of 60 studies were included in this review.

Studies were categorised as driving/traffic and industrial to draw useful comparisons between healthcare. Certain employees’ personality traits were matched to positive and negative relationships with safety attitudes/behaviours. Results are proposed to be used as a baseline when conducting further relevant research in healthcare.

Only two studies were identified in the healthcare sector.

The necessity for additional research in healthcare and for comparisons to other complex and highly regulated industries has been established. Safety will be enhanced through healthcare governance through personality-based recruitment, human resource allocation and education/training.