This paper examines the effectiveness of the three macro-prudential measures introduced by the Korean government in 2010 and 2011: (i) introduction of limit for FX forward…
Abstract
This paper examines the effectiveness of the three macro-prudential measures introduced by the Korean government in 2010 and 2011: (i) introduction of limit for FX forward positions of domestic banks and foreign bank branches, (ii) reintroduction of tax on foreign investors' earnings from Korean government bonds, and (iii) imposition of macro-prudential stability levy on non-deposit foreign currency liabilities appeared in bank balance sheets. The results show that the three measures were not successful: The limits of FX forward position did not lead to the decrease in foreign borrowings. The reintroduction of the tax did not reduce foreign investments in Korean government bonds. Lastly, the levy on non-deposit foreign currency liabilities did not lower the foreign borrowings from the banks and did not result in more financing through deposits for banks. The ineffectiveness of the capital flow management system in controling the amount of foreign capital flows implies that the system might not be effective in mitigating the pressure on exchange rate caused by excessive volatility of foreign capital flows.
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Jin-Soo Lee and Chia-Hao Chiang
The purpose of this paper is to explore a multidimensional quality scale for the identification of incentive travel attributes.
Abstract
Purpose
The purpose of this paper is to explore a multidimensional quality scale for the identification of incentive travel attributes.
Design/methodology/approach
The combined qualitative and quantitative method was used.
Findings
The resulting quality scale comprises 32 items with eight factors: image and attractions, accessibility, site environment, hotel facilities, opportunities for networking and sense of achievement/reward, program, specially arranged program and local people.
Practical implications
The results of this study provide insights for practitioners in Taiwan, particularly the government bodies concerned and incentive event organizers, and thus assist the practitioners in making strategic plans and decisions to ensure event quality and overall attendee satisfaction.
Originality/value
The value of this study is the first attempt to develop and validate a scale for capturing the quality of incentive events.
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Heesup Han, Sung In Kim, Jin-Soo Lee and Inyoung Jung
This study aims to discover factors and configurations that influence customers’ acceptance behaviors to investigate the current hospitality industry using service robots.
Abstract
Purpose
This study aims to discover factors and configurations that influence customers’ acceptance behaviors to investigate the current hospitality industry using service robots.
Design/methodology/approach
A mix of symmetrical and asymmetrical modeling methods was used for the data analysis. The symmetrical modeling was used to find the net effects, whereas asymmetrical modeling was adopted to find the combined configurations for hotel guests’ robot service acceptance behaviors.
Findings
The results revealed the significant effect of innovativeness, willingness to be a lighthouse customer, personal norms and concern about service robot performance on acceptance behaviors. In addition, the complex solution models using characteristics of tech-forward consumers, norms and attitude and uncertainty and concern were found.
Practical implications
The study shows directions to hotel marketers, to help them make customers adopt service robots.
Originality/value
The study explored customer service robot acceptance behaviors based on comprehensive theoretical backgrounds, including the technology acceptance model, theory of planned behavior, norm activation model and service robot acceptance model.
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Jinkyung Jenny Kim, Jin-Soo Lee and Heesup Han
This study aims to draw on customer experience theory to shed light on how hotel in-room amenities foster customer experience, which continues to form brand attitude and loyalty…
Abstract
Purpose
This study aims to draw on customer experience theory to shed light on how hotel in-room amenities foster customer experience, which continues to form brand attitude and loyalty before and during the pandemic. Also, this study assesses the impact of the pandemic in the relationships among proposed constructs on the basis of risk perception theory.
Design/methodology/approach
A quantitative approach was deployed using a total of 379 responses, for evaluating the measurement model through confirmatory factor analysis and testing proposed hypotheses through structural equation modeling.
Findings
The findings provide initial support for the predictions, except for the influence of brand attitude on brand loyalty before the pandemic. Particularly, the analysis results observe that the effect of tangible amenities on customer experience was stronger before the COVID-19, whereas the impact of intangible amenities on customer experience is greater during the pandemic. Furthermore, the results validate the significant moderating influence of the COVID-19 pandemic in the path between customer experience and brand loyalty.
Practical implications
This present study guides hotel professionals to be more effective in the management of appropriate in-room amenity to create a satisfactory customer experience, which contributes to brand loyalty in the with-corona era.
Originality/value
The study differs from earlier studies in that it investigates how the pandemic changes the role of hotel in-room amenities on customer experience, which, in turn, increases brand attitude and brand loyalty for the first time.
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Henry Tsai, Steve Pan and Jinsoo Lee
The purpose of this paper is to review and synthesize published contemporary hospitality financial management research from 1998 through 2009 and provide future research…
Abstract
Purpose
The purpose of this paper is to review and synthesize published contemporary hospitality financial management research from 1998 through 2009 and provide future research directions.
Design/methodology/approach
The authors began their initial literature search by entering into the ABI/INFORM database via ProQuest 19 pre‐identified keywords (i.e. debt, financing, ownership) related to the major functions of financial management, namely investing, financing, and dividend decisions, as well as commonly indexed keywords in hospitality finance research. The paper then expanded the authors' literature list through the reference lists of the studies that they initially identified. The authors limited their search to published studies between 1998 and 2009 and within hospitality journals written in English.
Findings
The paper identifies 98 published papers that represented the major work and efforts in expanding the body of knowledge in both the theoretical and practical perspectives of hospitality financial management. The major categories of papers include hospitality financing, investing, dividend policy, financial condition, and performance. Areas that warrant further investigation are noted throughout the paper.
Research limitations/implications
The papers review provides academics and practitioners an overview of the updated body of knowledge in the field and suggests the need for further in‐depth research to extend the literature and prompt better financial decision making for practitioners.
Originality/value
Since Harris and Brown's and Atkinson and Jones's reviews of past hospitality accounting and finance studies which mostly focused on the former, hospitality financial management research alone has grown noticeably in terms of diverse topics and sophistication of methodologies. To the authors' knowledge, no updated reviews that focus solely on hospitality finance research have been published in the last 12 years, and the need for such a task motivated them to conduct a review of recent research on this topic.
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Antony King Fung Wong, Mehmet Ali Koseoglu and Seongseop (Sam) Kim
This study aims to examine the current state of the research activities of scholars in the hospitality and tourism field by analyzing the first 20 years of the new millennium.
Abstract
Purpose
This study aims to examine the current state of the research activities of scholars in the hospitality and tourism field by analyzing the first 20 years of the new millennium.
Design/methodology/approach
Longitudinal analyses using 14,229 journal articles as data source were realized by adopting BibExcel, Gephi and VOSviewer network analysis software packages.
Findings
This study provides a comprehensive overview of the hospitality and tourism research based on authorship and social network analysis, with patterns of prolific authors compared over four distinct periods.
Research limitations/implications
The hospitality and tourism academic society is clearly illustrated by tracing academic publication activities across 20 years in the new millennium. In addition, this study provides a guide for scholars to search for multidisciplinary collaboration opportunities. Government agencies and non-governmental organisations can also benefit from this study by identifying appropriate review panel members when making decisions about hospitality- and tourism-related proposals.
Originality/value
To the best of authors’ knowledge, this study is the first to use bibliometric analysis in assessing research published in leading hospitality and tourism journals across the four breakout periods in the new millennium.
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Jin-Soo Lee, Ki-Joon Back and Eric S.W. Chan
The purpose of this paper is to achieve three objectives: to investigate perceived quality of work life (QWL) need attributes among frontline employees in the lodging industry, to…
Abstract
Purpose
The purpose of this paper is to achieve three objectives: to investigate perceived quality of work life (QWL) need attributes among frontline employees in the lodging industry, to assess the asymmetric relationships between QWL attributes and job satisfaction (JS) and to prioritize QWL attributes for the effective management of JS.
Design/methodology/approach
Data were analyzed using exploratory factor analysis, impact range-performance analysis and impact-asymmetry analysis.
Findings
Each QWL attribute showed significant and various asymmetric or linear impacts on JS or job dissatisfaction (JDS).
Practical implications
Study results provided critical information for hotel managers to prioritize several attributes, such as safe work place, fair pay, empowerment and effective training, to enhance JS and reduce JDS for frontline personnel.
Originality/value
This study sheds light for identifying the underlying structure of QWL and further investigate the asymmetric relationship between QWL attributes and JS/JDS using need satisfaction, self-determination and three-factor theory in the lodging industry.
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Jin-Soo Lee, Seongseop Kim and Steve Pan
This paper aims to, building on the concept of relational benefits, relationship marketing investments, gratitude, satisfaction and favorable reciprocal behaviors, examine the…
Abstract
Purpose
This paper aims to, building on the concept of relational benefits, relationship marketing investments, gratitude, satisfaction and favorable reciprocal behaviors, examine the mechanism of cultivating relationships with valued customers at an upscale restaurant.
Design/methodology/approach
To capture the traits of the population (upscale restaurant customers who perceive relationship marketing investments by experiencing relational benefits), upscale restaurant customers with membership cards were contacted in the survey. Structural equation modeling was used to test measurement and structural models.
Findings
Empirical findings indicated that confidence and social benefits positively contributed to relationship marketing investments, whereas special treatment benefits were not significantly related to relationship marketing investments. In turn, relationship marketing investments positively affected both gratitude and satisfaction; relationship marketing investments were also more associated with gratitude than satisfaction. Gratitude positively evoked favorable reciprocal behaviors; however, satisfaction did not trigger favorable reciprocal behaviors.
Originality/value
The integration of relationship marketing investments and gratitude into the conceptual model would allow the current findings to generate rich theoretical and practical implications that the extant hospitality literature has not elucidated.
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Jinsoo Hwang and JungHoon (Jay) Lee
As the elderly population in Korea grows, sales of travel packages for elderly people are also increasing. Senior tourists should spend much time with other tourists because of…
Abstract
Purpose
As the elderly population in Korea grows, sales of travel packages for elderly people are also increasing. Senior tourists should spend much time with other tourists because of the nature of package travel. Thus, the purpose of this paper is to investigate the significance of rapport with other tourists in the elderly tourist context. Specifically, the current study examined the relationship between other customer perceptions and rapport with other tourists. In addition, this study investigated the influences of rapport with other tourists on tour quality, tour satisfaction and word-of-mouth.
Design/methodology/approach
This paper collected data from 411 elderly tourists in Korea and conducted a structural equation modeling analysis to test nine hypotheses.
Findings
Physical appearance and suitable behavior positively affect rapport with other tourists and thus aid in increasing tour quality, tour satisfaction and word-of-mouth.
Originality/value
In service marketing, there is a general consensus that customers are influenced by other customers who use the same service facility because they recognize other customers as the environment of the service facility. The concept of other customer perceptions was applied to tourism marketing in this study in combination with another understudied concept, rapport. This study is one of the first, as per the authors’ knowledge, to apply those important concepts to the tourism industry in particular, although there has been a considerable body of research in the service marketing field. Consequently, the findings of this paper would be meaningful and useful for travel agencies when developing a marketing strategy to enhance rapport between tourists.