Wei Lu, Yuwei Zhou, Li Sunny Pan and Yuhao Zhao
People often need to make intertemporal choices in their daily life, such as savings and spending, but their decisions are not always entirely rational. The purpose of this paper…
Abstract
Purpose
People often need to make intertemporal choices in their daily life, such as savings and spending, but their decisions are not always entirely rational. The purpose of this paper is to study the effect of hunger on intertemporal choices and the moderating effect of sensitivity to reward.
Design/methodology/approach
Two studies verified these two hypotheses. The first study confirmed the existence of the main effect by manipulating food aroma. In the second study, by manipulating hunger with images, the authors increased external validity of the study and confirmed the regulation of the sensitivity of rewards.
Findings
The authors found that hungry people prefer to reap the benefits as early as possible in an intertemporal choice; this effect is significant only for those people who are sensitive to reward.
Practical implications
The research contributes to understand more about which factors will influence Chinese residents’ decisions on savings and spending. It also has practical implication for government policy, for example, proposing new ideas for reducing household savings rate and stimulating consumption.
Originality/value
The results confirmed that hunger significantly affects consumers’ intertemporal choices, which broadened the scope of researches on the factors that influence intertemporal choice, and advanced the study on the influence of individual’s physiological state on intertemporal choices. This study filled the gaps in previous researches, and opened up new research ideas for interdisciplinary study.
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Chitra Devi Nagarajan, Mohd Afjal and Ghalieb Mutig Idroes
The purpose of the paper is to analyze the impact of involuntary frugality and deliberate frugality on the household intentions to adopt energy-efficient and energy-generating…
Abstract
Purpose
The purpose of the paper is to analyze the impact of involuntary frugality and deliberate frugality on the household intentions to adopt energy-efficient and energy-generating products. Additionally, the study aims to explore the role of motivation to save as a mediating factor between different types of frugality and the adoption of different kinds of energy products.
Design/methodology/approach
The study involved a survey of 413 households, gathering information through questionnaires from both tier I and tier II urban areas in India. The investigation used confirmatory factor analysis and structural equation modeling with Amos to explore the impact of frugality and also mediating impacts of motivation to save on the correlation between different forms of frugality (involuntary and deliberate) and the desire to acquire energy-efficient and energy-producing goods. This methodology facilitated a thorough examination of how various levels of frugality impact the uptake of sustainable energy solutions, with a specific emphasis on the fundamental motivational drivers behind these choices.
Findings
The study uncovers specific connections between various forms of frugality and the desire to embrace energy-efficient and energy-producing items. Unintentional frugality, characterized by sensitivity to prices, is shown to have a positive correlation with the adoption of energy-efficient devices but a negative association with the intention to adopt energy-generating products. Conversely, intentional frugality, distinguished by deliberate reduction actions, positively impacts the inclination to adopt both energy-efficient and energy-generating products. The results suggest that the mediating impact of motivation for savings varies depending on the type of frugality and the class of energy products being considered, emphasizing the subtle ways in which frugality influences sustainable consumption behaviors.
Research limitations/implications
The contrasting effects of involuntary and voluntary frugality on the adoption of energy-efficient versus energy-generating products highlight the need to explore the underlying psychological and economic mechanisms. Future research should investigate the factors influencing the preferences of price-sensitive and deliberate frugal consumers towards this energy-efficient and energy-generating products.
Social implications
Policymakers should develop specific subsidies and financial strategies for low-income households and incentive programs for conscientious consumers. Educational campaigns emphasizing the benefits of energy-generating goods and creating incentive structures with tax advantages, refunds and financial aid are essential. Companies should continue to emphasize cost savings for energy-efficient appliances and consider leasing or instalment plans for energy-generating products to appeal to price-sensitive consumers.
Originality/value
Literature shows that 82% of Indians prefer frugality to conserve energy through reduced consumption. However, consumer motivations for frugality vary. This study analyses the distinct impacts of involuntary and voluntary frugality on adopting energy-efficient and energy-generating products, offering a nuanced understanding of consumer behavior in sustainability—a topic underexplored in existing research. Additionally, this study investigates the role of the motivation to save as a mediator between frugality and energy product adoption, providing a novel perspective on how different frugality motivations influence different category of energy products.
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Hao Liang, Luc Renneboog and Sunny Li Sun
We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as…
Abstract
Purpose
We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as responsible “stewards” rather than “agents” of the state.
Methodology/approach
We test this view on China and find that Chinese managers are remunerated not for maximizing equity value but for increasing the value of state-owned assets.
Findings
Managerial compensation depends on political connections and prestige, and on the firms’ contribution to political goals. These effects were attenuated since the market-oriented governance reform.
Research limitations/implications
Economic reform without reforming the human resources policies at the executive level enables the autocratic state to exert political power on corporate decision making, so as to ensure that firms’ business activities fulfill the state’s political objectives.
Practical implications
As a powerful social elite, the state-steward managers in China have the same interests as the state (the government), namely extracting rents that should adhere to the nation (which stands for the society at large or the collective private citizens).
Social implications
As China has been a communist country with a single ruling party for decades, the ideas of socialism still have a strong impact on how companies are run. The legitimacy of the elite’s privileged rights over private sectors is central to our question.
Originality/value
Chinese executive compensation stimulates not only the maximization of shareholder value but also the preservation of the state’s interests.
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Fengjun Tian, Yang Yang, Zhenxing Mao and Wenyue Tang
This paper aims to compare the forecasting performance of different models with and without big data predictors from search engines and social media.
Abstract
Purpose
This paper aims to compare the forecasting performance of different models with and without big data predictors from search engines and social media.
Design/methodology/approach
Using daily tourist arrival data to Mount Longhu, China in 2018 and 2019, the authors estimated ARMA, ARMAX, Markov-switching auto-regression (MSAR), lasso model, elastic net model and post-lasso and post-elastic net models to conduct one- to seven-days-ahead forecasting. Search engine data and social media data from WeChat, Douyin and Weibo were incorporated to improve forecasting accuracy.
Findings
Results show that search engine data can substantially reduce forecasting error, whereas social media data has very limited value. Compared to the ARMAX/MSAR model without big data predictors, the corresponding post-lasso model reduced forecasting error by 39.29% based on mean square percentage error, 33.95% based on root mean square percentage error, 46.96% based on root mean squared error and 45.67% based on mean absolute scaled error.
Practical implications
Results highlight the importance of incorporating big data predictors into daily demand forecasting for tourism attractions.
Originality/value
This study represents a pioneering attempt to apply the regularized regression (e.g. lasso model and elastic net) in tourism forecasting and to explore various daily big data indicators across platforms as predictors.
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Rob Law, Sunny Sun, Davis Ka Chio Fong, Lawrence Hoc Nang Fong and Hui Fu
This paper aims to identify the changes of researched destinations along with the Approved Destination Status scheme to investigate the development of research problems, and to…
Abstract
Purpose
This paper aims to identify the changes of researched destinations along with the Approved Destination Status scheme to investigate the development of research problems, and to track the changes of research topics in the context of the development of China’s outbound tourism. The research methods and applied theories are also identified and analyzed.
Design/methodology/approach
Three large databases, namely, ScienceDirect, EBSCOhost and Google Scholar, were selected to search for published articles (i.e. 107 empirical articles and 15 review/policy articles) related to China’s outbound tourism. Thereafter, the retrieved articles were categorized and analyzed. Finally, a theoretical framework was provided for future studies on China’s outbound tourism.
Findings
The major findings indicated that the main topics related to China’s outbound tourism included market segmentation, travel motivation and travel behavior. One or two theories are generally applied to investigate a certain topic. The most common research methods are interviews and a questionnaire survey.
Research limitations/implications
Future studies are suggested to apply more theories to investigate one topic. A single theory can also be applied to investigate different topics. Adopting different and innovative research methods, such as online interaction observation, can also be considered.
Originality/value
This study contributes to the literature through an in-depth qualitative assessment of China’s outbound tourism literature, comparing researched destinations with the Approved Destination Status policies, and reviewing articles based on research.
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Long Phi Nguyen, Dung Phuong Hoang and Thong Huy Vu
Travel destinations worldwide are seeking smart ways to reduce the negative impact of tourism, and the public bike rental service (PBRS) is one of them. To investigate the usage…
Abstract
Purpose
Travel destinations worldwide are seeking smart ways to reduce the negative impact of tourism, and the public bike rental service (PBRS) is one of them. To investigate the usage intention of this service among visitors, the author of this research employs an integrated approach consisting of two psychological frameworks: the Norm Activation Model (NAM) and the Technology Acceptance Model (TAM).
Design/methodology/approach
The integrated NAM-TAM model is implemented to conduct a survey (sample n = 777) with visitors to Hanoi, Danang, and Ho Chi Minh City regarding the factors underlying their intentions to continue using the PBRS TNGo.
Findings
Structural equation models suggested that: (1) the NAM-TAM can explain behavioural intention to use a smart PBRS. Perceived Usefulness (PU), Perceived Ease of Use (PE), and Awareness of Consequences (AC) have positive and significant impacts on Attitude Towards Using (AT) and, thus, on Behavioural Intention to Use (BI). Also, Personal Norms (PN) positively influence BI. (2) Among the four independent variables, tourists' AC produces the most potent effect on the intention to continue using a PBRS.
Research limitations/implications
This study can start a new research direction of combining the NAM with other theoretical frameworks to explain customer behaviour in the field of sustainable tourism practices. Future research should explore the proposed model based on comparisons of different tourists’ backgrounds, including nationality, length of stay, spending level, visiting purpose, etc.
Practical implications
This research provides strategic implications for destination management organisations in boosting the use of PBRS amongst tourists, contributing to the environmental sustainability targets of the tourism industry.
Originality/value
This study responds to the existing gap by examining both functional value (indicated by PU and PE) and perceived environmental/social value (proxied by AC) in forming tourists’ attitudes towards PBRS and their usage intention. Our study, therefore, actively contributes to the research stream of tourist behaviour in the field of sustainable tourism practices from the altruistic behavioural perspective.
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Ying Pan, Lia H. Sun, Heqing Yang and Jianming Zheng
“Library + cultural tourism” (LCT) is a new direction for the sustainable development of libraries, but few scholars have researched it from a tourist perspective. The purpose of…
Abstract
Purpose
“Library + cultural tourism” (LCT) is a new direction for the sustainable development of libraries, but few scholars have researched it from a tourist perspective. The purpose of this paper is to identify what factors affect tourist satisfaction (TS) with LCT, reveal the interaction among these factors and provide strategies for better library services.
Design/methodology/approach
This study collected 5,308 comments on Tianjin Binhai Library from three popular online travel communities. Grounded theory was adopted to identify what factors affect TS with LCT and reveal the interaction among these factors.
Findings
The results indicated that TS with LCT was affected by complex factors related to tour plans, tour expectations, cultural characteristics, environment, support services and emotions. Cultural characteristics, environment and support services were impacted by tour plans and tour expectations, which directly or indirectly affected TS mediated by emotions. TS further influenced their expectation of their next tour.
Originality/value
This paper uncovered critical problems with LCT using a case study of Tianjin Binhai Library. The results provide a reference for library practitioners to develop better library services for tourists and regular users/readers.
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Peng Luo, Eric W.T. Ngai, Yongli Li and Xin Tian
This study examines the dynamic relationships of visit behavior in the multiple channels [personal computer (PC) and mobile channels] on online store sales performance.
Abstract
Purpose
This study examines the dynamic relationships of visit behavior in the multiple channels [personal computer (PC) and mobile channels] on online store sales performance.
Design/methodology/approach
The empirical data were from an online store for the period between August 14, 2015 and May 15, 2016. The data consisted of consumer visit behavior and online store sales performance. Vector autoregression with an exogenous variables model was adopted to investigate the dynamic relationships.
Findings
The empirical results show significant relationships between visit behavior metrics (number of visitors, average number of visits per visitor and average length of each visit) in the two channels and online store sales performance. The number of visitors through the PC and mobile channels strongly and positively affects online store sales performance both in the short term and in the longer term. Moreover, the number of visitors in the PC channel has the strongest influence on sales performance metrics, followed by the number of visitors and the average number of visits in the mobile channel. The PC channel's visit behavior metrics explain a larger proportion of the sales performance variance than that in the mobile channel.
Originality/value
The previous literature on consumer behavior in multichannel marketing mainly focuses on channel selection or migration, and examines the different factors affecting channel choice behavior. Little is known about the impacts of visit behavior in the multiple channels. This study adopts the heuristic-systematic information processing theory to unveil the impacts of visit behavior metrics in the PC and mobile channels on online store sales performance.