Guqiang Luo, Kun Tracy Wang and Yue Wu
Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards…
Abstract
Purpose
Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards meeting or beating analyst earnings expectations (MBE).
Design/methodology/approach
The authors use an event study methodology to capture market reactions to MBE.
Findings
The authors document a stock return premium for beating analyst forecasts by a wide margin. However, there is no stock return premium for firms that meet or just beat analyst forecasts, suggesting that the market is skeptical of earnings management by these firms. This market underreaction is more pronounced for firms with weak external monitoring. Further analysis shows that meeting or just beating analyst forecasts is indicative of superior future financial performance. The authors do not find firms using earnings management to meet or just beat analyst forecasts.
Research limitations/implications
The authors provide evidence of market underreaction to meeting or just beating analyst forecasts, with the market's over-skepticism of earnings management being a plausible mechanism for this phenomenon.
Practical implications
The findings of this study are informative to researchers, market participants and regulators concerned about the impact of analysts and earnings management and interested in detecting and constraining managers' earnings management.
Originality/value
The authors provide new insights into how the market reacts to MBE by showing that the market appears to focus on using meeting or just beating analyst forecasts as an indicator of earnings management, while it does not detect managed MBE. Meeting or just beating analyst forecasts is commonly used as a proxy for earnings management in the literature. However, the findings suggest that it is a noisy proxy for earnings management.
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Fabio Forlani, Mauro Dini and Tonino Pencarelli
The purpose of this paper is to analyze the role that food and beverage (F&B) sensory stimuli play in building non-food-themed touristic experiences, such as wellness tourism…
Abstract
Purpose
The purpose of this paper is to analyze the role that food and beverage (F&B) sensory stimuli play in building non-food-themed touristic experiences, such as wellness tourism experiences.
Design/methodology/approach
This paper adopts an asynchronous netnographic approach supported by software (T-Lab, 2021). The study was conducted on a database consisting of 3,141 reviews in English, left by customers of 38 wellness facilities (Spa Retreats) spread across 5 continents.
Findings
The analysis reveals that F&B stimuli contribute significantly to the tourist's perception of the wellness experience in a two-fold manner: on the one hand, they support the wellness experience, and on the other, through specific proposals (e.g. wine, vegan, detox, etc.), they qualify and differentiate the wellness experience in a hedonic rather than eudaimonic way.
Research limitations/implications
The present study contributes to managerial literature on the topic of gastronomic tourism and wellness tourism by providing, on an international scale, empirical evidence of (a) the importance and role of F&B touchpoints in hybrid gastronomic experiences; and (b) the presence of a variety of “wellness experiencescapes”.
Originality/value
This study is the first attempt to measure the role of F&B in tourists' perceptions of non-food-themed experiences. The research not only provides new data on the wellness experience through a cross-continental analysis but also offers useful theoretical and managerial insights for the design of wellness tourism experiences.
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The study investigated the strategic contribution of COVID-19 preventive measures in building corporate reputation in the hospitality industry when mediated with ethical branding.
Abstract
Purpose
The study investigated the strategic contribution of COVID-19 preventive measures in building corporate reputation in the hospitality industry when mediated with ethical branding.
Design/methodology/approach
The hypothesized model was developed and tested using a cross-sectional research design among 404 customers of hospitality organizations (i.e. hotels and restaurants). The collected data were analyzed quantitatively using structural equation modeling.
Findings
The results showed that COVID-19 preventive measures are important drivers in building or rebuilding corporate reputation during and after the COVID-19 pandemic. The study also showed that ethical branding acts as a mediator between COVID-19 preventive measures and corporate reputation.
Research limitations/implications
The study used a nonprobability sampling technique, i.e. convenience sampling and a cross-sectional survey research design. It is therefore necessary to be careful when generalizing the findings.
Practical implications
The study recommends that managers in hospitality organizations should ensure proper and effective compliance with COVID-19 preventive measures during service delivery. Among others, the study highlighted areas for further study to include an investigation using a longitudinal approach to observe behavioral changes toward COVID-19 preventive measures and their consequences on the overall corporate reputation of the hospitality industry. This recommendation is based on the fact that, currently, new cases and mortality rates have decreased considerably. As a result, customers in the hospitality industry have started to have different opinions about complying with COVID-19 preventive measures.
Originality/value
The study is among new endeavors to investigate drivers that can rebuild and sustain the corporate reputation of hospitality organizations during a pandemic like COVID-19.
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Angel F. González, Catherine Curtis, Isaac J. Washburn and Abhijeet R. Shirsat
The purpose of this paper is to empirically test an existing conceptual model from Mak et al. (2012a, 2012b) to discern which factors have the most influence on food choices when…
Abstract
Purpose
The purpose of this paper is to empirically test an existing conceptual model from Mak et al. (2012a, 2012b) to discern which factors have the most influence on food choices when travelers visit destinations with different options, i.e. local foods, other than those available in their home environments.
Design/methodology/approach
The quantitative study surveyed 330 travelers and used descriptive analyses of all the variables involved. A hierarchical linear regression was calculated to predict for the dependent variable of local cuisine consumption, based on the independent variables of culture and religion, socio-demographic factors, motivational factors, food trait personality and exposure effect/past experience.
Findings
Culture, motivational factors and food-related personality traits were consistently significant predictors of local food consumption.
Research limitations/implications
Limitations include using an English-only online questionnaire and self-reported bias. The impacting delimitation relates to data collection from US travelers and thus limiting generalizability findings.
Practical implications
The study explained factors involved in travelers’ decision to consume local foods at a destination. Government, tourism-related organizations, producers and service providers gain information to improve products, increase interest, create additional employment opportunities, increase tax revenues that assist local communities and increase consumption of local foods, products and services.
Originality/value
The limited availability of research on this topic prompted the interest of the researchers. Mak et al. (2012b) provide a conceptual model that was first tested empirically in this study. It presents a five factors impacting tourist food consumption at a destination. Local food consumption of tourists was tested using the aforementioned conceptual model.
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Alicia Orea-Giner and Francesc Fusté-Forné
This research aims to examine Generation Z's perspectives of sustainable consumption in food tourism experiences, considering the drivers on food tourists' behavioural intents and…
Abstract
Purpose
This research aims to examine Generation Z's perspectives of sustainable consumption in food tourism experiences, considering the drivers on food tourists' behavioural intents and basing its analysis on the value-attitude-behaviour model of norm activation theory.
Design/methodology/approach
Using a qualitative design, 27 qualitative online surveys were conducted with Generation Z travellers who are also active on social media.
Findings
Results show that while they are aware of environmental knowledge and ethical food choices and think that sustainable food consumption improves individual and social wellbeing, the sustainability of food consumption is limited by factors such as time and budget. Also, results reveal that the eating habits of Generation Z people are more sustainable when they eat at home than when they travel. Theoretical and practical implications for food tourism management and marketing are described.
Originality/value
While food tourism has been largely investigated in recent years, little previous research has focused on the relationships between daily eating behaviours and sustainable consumption in food tourism experiences, especially from the perspective of Generation Z individuals and the influence of social media on individual and social food decisions.
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Meat overconsumption by tourists is one of the key issues in the sustainability of tourist destinations. The objective of this paper is to assess the impact that a promotion of…
Abstract
Purpose
Meat overconsumption by tourists is one of the key issues in the sustainability of tourist destinations. The objective of this paper is to assess the impact that a promotion of meatless gastronomy and its actual increased availability would have on the attractiveness and visitation of a popular European urban destination.
Design/methodology/approach
The research uses an innovative foresight approach that combines environmental scanning and scenarios. The authors formulated the scenarios using the Delphi technique and working with 27 scholars whose insights into the topic were enhanced through theses that resulted from the environmental scanning. They provided their insights into how a promotion of meatless gastronomy would affect a destination. Subsequently, the authors synthetized their insights and formulated the scenarios.
Findings
Based on two defined scenarios, the authors found that a meatless image represents an opportunity for the future development of an urban European destination. A long-term growth in visitor numbers can be achieved while ensuring environmental, economic and socio-cultural sustainability providing that relevant stakeholders are involved in the promotional activities.
Originality/value
Management of tourists' unsustainable eating habits is currently an unexplored issue. The present research addresses this topic and provides valuable insights that will help to address sustainability issues while making tourism destinations more attractive.
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Hui Guo, Jinzhou Jiang, Suoting Hu, Chun Yang, Qiqi Xiang, Kou Luo, Xinxin Zhao, Bing Li, Ziquan Yan, Liubin Niu and Jianye Zhao
The bridge expansion joint (BEJ) is a key device for accommodating spatial displacement at the beam end, and for providing vertical support for running trains passing over the gap…
Abstract
Purpose
The bridge expansion joint (BEJ) is a key device for accommodating spatial displacement at the beam end, and for providing vertical support for running trains passing over the gap between the main bridge and the approach bridge. For long-span railway bridges, it must also be coordinated with rail expansion joint (REJ), which is necessary to accommodate the expansion and contraction of, and reducing longitudinal stress in, the rails. The main aim of this study is to present analysis of recent developments in the research and application of BEJs in high-speed railway (HSR) long-span bridges in China, and to propose a performance-based integral design method for BEJs used with REJs, from both theoretical and engineering perspectives.
Design/methodology/approach
The study first presents a summary on the application and maintenance of BEJs in HSR long-span bridges in China representing an overview of their state of development. Results of a survey of typical BEJ faults were analyzed, and field testing was conducted on a railway cable-stayed bridge in order to obtain information on the major mechanical characteristics of its BEJ under train load. Based on the above, a performance-based integral design method for BEJs with maximum expansion range 1600 mm (±800 mm), was proposed, covering all stages from overall conceptual design to consideration of detailed structural design issues. The performance of the novel BEJ design thus derived was then verified via theoretical analysis under different scenarios, full-scale model testing, and field testing and commissioning.
Findings
Two major types of BEJs, deck-type and through-type, are used in HSR long-span bridges in China. Typical BEJ faults were found to mainly include skewness of steel sleepers at the bridge gap, abnormally large longitudinal frictional resistance, and flexural deformation of the scissor mechanisms. These faults influence BEJ functioning, and thus adversely affect track quality and train running performance at the beam end. Due to their simple and integral structure, deck-type BEJs with expansion range 1200 mm (± 600 mm) or less have been favored as a solution offering improved operational conditions, and have emerged as a standard design. However, when the expansion range exceeds the above-mentioned value, special design work becomes necessary. Therefore, based on engineering practice, a performance-based integral design method for BEJs used with REJs was proposed, taking into account four major categories of performance requirements, i.e., mechanical characteristics, train running quality, durability and insulation performance. Overall BEJ design must mainly consider component strength and the overall stiffness of BEJ; the latter factor in particular has a decisive influence on train running performance at the beam end. Detailed BEJ structural design must stress minimization of the frictional resistance of its sliding surface. The static and dynamic performance of the newly-designed BEJ with expansion range 1600 mm have been confirmed to be satisfactory, via numerical simulation, full-scale model testing, and field testing and commissioning.
Originality/value
This research provides a broad overview of the status of BEJs with large expansion range in HSR long-span bridges in China, along with novel insights into their design.
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Ishani Sharma, Weng Marc Lim and Arun Aggarwal
With a growing preference for active, authentic, and cultural experiences over traditional ones, creative tourism has garnered significant academic interest. This study offers a…
Abstract
Purpose
With a growing preference for active, authentic, and cultural experiences over traditional ones, creative tourism has garnered significant academic interest. This study offers a comprehensive review of creative tourism research, delineating its evolution, prominent contributors, pivotal areas, and prospective trajectories through a bibliometric analysis.
Design/methodology/approach
Employing a bibliometric analysis using the biblioshiny and VOSviewer software, this study systematically reviews 198 articles on creative tourism identified and retrieved from the Scopus database.
Findings
A notable increase in creative tourism research is witnessed in recent times, with Portugal and the Netherlands leading in publications and citations, respectively. This review also pinpoints key authors, countries, institutions, and journals shaping the field, and presents emerging themes such as authenticity and creative experience, culture and heritage, urban and rural contexts, and co-creation in creative tourism.
Practical implications
Identifying core research contributors (authors, countries, institutions, journals) and contributions (themes, topics) assists academics in seeking collaborations and shaping future research. Practitioners are advised to adapt these trends (authenticity, co-creation, sustainability) into their strategic planning to meet market demands.
Originality/value
This study offers a seminal review of creative tourism through a bibliometric analysis, a technique that leverages the power of technology (data, software) to engage in retrospection and projection—the hallmark of benchmarking studies across fields, including tourism. Noteworthily, this study provides a detailed summary of the field’s trajectory and significant trends, positioning itself as an essential reference for academic scholars, industry professionals, and policymakers with a keen interest in creative tourism.
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Samuel Foli, Susanne Durst and Serdal Temel
Acknowledging, on the one hand, the increasing fragility of supply chains and the number of risks involved in supply chain operations and, on the other hand, the role of small…
Abstract
Purpose
Acknowledging, on the one hand, the increasing fragility of supply chains and the number of risks involved in supply chain operations and, on the other hand, the role of small- and medium-sized enterprises (SMEs) in supply chains and the high exposure of these firms to risks of different types, this study aims to examine the relationship between supply chain risk management (SCRM) and innovation performance in SMEs. Furthermore, the impact of technological turbulence on this relationship was studied to take into account recent technological changes.
Design/methodology/approach
Structural equation modelling was carried out on a sample of Turkish SMEs to test the hypotheses developed.
Findings
The findings presented allow the authors to better understand the link between SCRM and innovation performance in SMEs. More precisely, empirical evidence is provided about the impact of SCRM components such as maturity and ability on innovation performance. Furthermore, the findings show the impact of technological turbulence on both SCRM and innovation performance.
Originality/value
By focusing on SCRM in SMEs, this paper contributes to the body of knowledge with regard to SCRM in general and with regard to SMEs in particular; research on the latter has only started recently. Moreover, by having studied SMEs from a developing country (other than China), this paper helps to develop a broader and more diverse perspective of SCRM.
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Cathrine Linnes, Jeffrey Thomas Weinland, Giulio Ronzoni, Joseph Lema and Jerome Agrusa
The purpose of this study is to examine the trend toward purchasing locally grown food and evaluate if tourists visiting Hawai'i are willing to pay more for locally produced foods…
Abstract
Purpose
The purpose of this study is to examine the trend toward purchasing locally grown food and evaluate if tourists visiting Hawai'i are willing to pay more for locally produced foods that are more ecologically sustainable.
Design/methodology/approach
A research questionnaire was developed in order to investigate the attitudes and behaviors of tourists from the continental United States visiting Hawai'i in purchasing locally grown food in Hawai'i. The final sample includes 454 valid survey responses collected via Momentive, a market research services company.
Findings
According to the findings of this study, there are economic prospects to expand the use of locally cultivated food into the tourists' experience, as well as a willingness for tourists to support these activities financially. The Contingent Valuation study revealed that tourists from the continental United States were ready to pay a higher price to purchase food that is locally grown, signifying that tourists to Hawai'i are willing to aid the local agriculture business by increasing their restaurant/hotel meal bill, which will help Hawai'i become a more sustainable tourist destination.
Research limitations/implications
While tourists from the United States mainland, which is the “an islands” top tourist market, have agreed with paying extra or an additional fee for locally grown food products, this study might not accurately represent the attitudes and behaviors of international tourists visiting Hawai'i. Future research should focus on the international tourist markets which may have different social norms or cultural differences thus could provide a broader spectrum of the current study's findings.
Originality/value
The results of this study provided quantitative evidence that tourists from the United States are interested in purchasing locally grown food items in Hawaii in addition to their willingness to pay an additional fee for these locally grown food products at a restaurant or a hotel dining room, thus addressing a gap in the tourism research.