Lara Penco, Giorgia Profumo, Francesca Serravalle and Milena Viassone
The authors’ aim is to investigate if entrepreneurial orientation (EO) has a role in interpreting an external crisis, such as COVID-19, as an opportunity for investing in digital…
Abstract
Purpose
The authors’ aim is to investigate if entrepreneurial orientation (EO) has a role in interpreting an external crisis, such as COVID-19, as an opportunity for investing in digital transformation.
Design/methodology/approach
The authors undertook multiple case study research on the digital transformation of seven “Made in Italy” SMEs and proposed a conceptual framework that sees an external stimulus (e.g. the pandemic) as a driver of the digitalisation, filtered by the entrepreneurial orientation of SMEs.
Findings
The authors’ results show how EO deals with the changing environment and helps address the market opportunities related to digitalisation.
Research limitations/implications
This study contributes to the existing literature on EO and digital transformation of SMEs, creating a new model for forthcoming studies on this topic. In addition, interesting insights are offered on the role of EO to promote the introduction of digital transformation in SMEs operating in the “Made in Italy” sectors.
Practical implications
This study shows the role of EO as a reactive characteristic during a crisis. Thus, the authors’ suggestion to SMEs is to develop their EO as a part of the strategic orientation. In addition, this work encourages policymakers to invest in the promotion of specific interventions aimed at supporting entrepreneurs in enhancing their capacity to effectively manage digital transformation.
Originality/value
Identifying the most important triggers of digitalisation in times of crisis remains an underexplored area of research. Thus, this study adds value to both digital transformation and entrepreneurial orientation topics.
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Keywords
Sandro Castaldo, Lara Penco and Giorgia Profumo
Cruising is one of the industries most susceptible to the current COVID-19 health crisis, due to the closed environment and the contacts between cruisers and crewmembers. This…
Abstract
Purpose
Cruising is one of the industries most susceptible to the current COVID-19 health crisis, due to the closed environment and the contacts between cruisers and crewmembers. This study aims to understand if the perceived crowding and the health risk perception related to the pandemic situation might threaten passengers’ intentions to cruise. The study also examines corporate reputation and trust, as well as social motivation and self-confidence, as possible predictors of consumers’ intention to cruise.
Design/methodology/approach
The study is based on the development of a structured questionnaire submitted online via social media. Overall, 553 individuals’ responses were used for understanding the factors that can affect consumers’ intention to cruise by performing several regression models.
Findings
The results show that the perceived crowding related to the pandemic does not seem to influence people’s intention to cruise. On the contrary, trust in the cruise company, corporate reputation, cruisers’ self-confidence and research of social motivation are positive predictors of intention to cruise, thus reducing the perceived risk’s deterring impact. The importance of such factors differs in respect of repeat and not repeat cruisers.
Practical implications
The study presents several managerial implications as it analyses the variables that could help cruise management cope better with COVID-19’s negative impact.
Originality/value
Despite the severity of COVID-19’s impact on the cruise industry, no studies have yet focussed on how the current pandemic situation may influence customers’ intention to cruise in the future.
Lara Penco, Giorgia Profumo, Marco Remondino and Carolina Bruzzi
In recent years, critical events have heavily affected the cruise industry. Such events may variously influence customers’ intention to take a cruise in the future depending on…
Abstract
Purpose
In recent years, critical events have heavily affected the cruise industry. Such events may variously influence customers’ intention to take a cruise in the future depending on different factors. This paper aims to study such factors, in particular the emotions related to the event, the prior corporate reputation and the use of social media in the corporate communication strategies followed during the crisis.
Design/methodology/approach
The study is based on the development of a structured questionnaire submitted online via blogs and other social media. Overall, 572 cruiser opinions were used to test five research hypotheses by performing logistic regression analysis.
Findings
The degree of anger increases the likelihood of a critical event influencing the intention to take a cruise in the future. On the contrary, a former excellent corporate reputation reduces that likelihood and the high importance placed by potential customers on information about the critical event transmitted via social media does not have any influence.
Practical implications
The study has several managerial implications, as it identifies and analyses the variables cruise company managers should consider when dealing with critical events.
Originality/value
Despite the relevance of this topic, no studies have yet focused on how (and by which factors) a critical event may influence customers’ intention to take a cruise in the future.
Details
Keywords
Marco Ferretti, Giorgia Profumo and Ilaria Tutore
The purpose of this paper is to verify if, in case of a shock event, there are types of corporate announcement that may influence stock price behaviour better than others. The…
Abstract
Purpose
The purpose of this paper is to verify if, in case of a shock event, there are types of corporate announcement that may influence stock price behaviour better than others. The authors also try to determine if the communication strategy may be affected by the type of shock event.
Design/methodology/approach
Using the event study analysis, the authors estimate the Cumulative Abnormal Returns associated to the stocks of the selected firms hit by a shock event, in order to visualise the effectiveness of different types of corporate announcements after the event.
Findings
The research confirms the negative effect of shock events on corporate stocks’ value. Moreover, the study envisages that financial market rewards companies that assume consistent and reassuring announcements during the event window. The authors also find that the effectiveness of corporate announcements is related to the shock’s typology.
Research limitations/implications
The study employs a small and unbalanced sample of shock events. Moreover, it does not exist a generally accepted criterion to define and classify corporate announcements and the authors cannot exclude the influence of the media in the categorisation process of the announcements.
Practical implications
Since shock events may threat firms’ survival, by knowing which response strategy fits better a shock situation, a manager can assess the potential effect of his communication options and choose the right type of announcement.
Originality/value
There is a lack of literature on this theme, in particular on the effects that the different corporate announcements following a shock event may have on shareholders’ value.