M. Rosario González-Rodríguez, M. Carmen Díaz-Fernández and Xavier Font
The purpose of this paper is to investigate the influence of customers’ environmental concerns, customers’ perceptions of a hotel’s environmental practices and of the hotels’…
Abstract
Purpose
The purpose of this paper is to investigate the influence of customers’ environmental concerns, customers’ perceptions of a hotel’s environmental practices and of the hotels’ environmentally friendly images, on customers’ willingness to pay a price premium to stay at environmentally friendly hotels.
Design/methodology/approach
The theoretical framework comprises both social identity theory and value-belief-norm theory. The data were collected through a survey of 454 customers staying at eco-friendly hotels in Spain. The research model is tested by using a structural equation modelling approach.
Findings
The findings illustrate that customers’ environmental concerns have a greater explanatory value on their willingness to pay a price premium than do their perceptions of the hotels’ environmental practices. Furthermore, these causal relationships are similar in magnitude when considering the mediating effects of the hotels’ eco-friendly image and the environmental practices.
Research limitations/implications
The empirical findings provide managers with a better understanding of how customers’ environmental concerns and their own sense of identification with environmentally friendly hotels influence customers’ behavioural intentions towards willingness to pay a premium.
Originality/value
The paper contributes to the literature by highlighting those cognitive processes that influence the customers’ willingness to pay a price premium to stay at environmentally friendly hotels. Hence, the study provides valuable information to hotel managers.
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M. Rosario González-Rodríguez, M. Carmen Díaz-Fernández, Anil Bilgihan, Fevzi Okumus and Fangfang Shi
This study aims to investigate the relationships between electronic word of mouth (eWOM) source credibility, perceived risk and information usefulness and how they influence…
Abstract
Purpose
This study aims to investigate the relationships between electronic word of mouth (eWOM) source credibility, perceived risk and information usefulness and how they influence tourists’ destination visit intention and online review involvement.
Design/methodology/approach
Data for this quantitative study were collected via an online survey from 460 participants and analyzed using a partial least squares analysis.
Findings
All four dimensions of eWOM source credibility reduce travelers’ perceived risk associated with destination visits, among which homophily has the greatest influence. Lower levels of perceived risk are associated with higher perceived information usefulness, thus boosting tourists’ eWOM involvement and intention to visit a destination.
Practical implications
Results offer practical implications for how the tourism industry can exploit eWOM as an information source that consumers frequently consult. The results are also valuable for Destination Marketing Organizations, allowing them to determine what type of information promotes positive tourist attitudes and behaviors toward destinations.
Originality/value
To the best of the authors’ knowledge, this study is one of the first studies to examine the interaction between eWOM credibility, perceived risk and information usefulness and their effect on consumer behaviors in the tourism context.
eWOM 来源可信度对目的地访问意愿和在线参与的影响:以中国游客为例
研究目的
本研究调查了 eWOM 来源可信度、感知风险和信息有用性之间的关系, 以及它们如何影响游客的目的地访问意图和在线评论参与度。
研究设计/方法/途径
这项定量研究的数据是通过对 460 名参与者的在线调查收集的, 并使用偏最小二乘法分析。
研究发现
eWOM 来源可信度的所有四个维度都降低了旅行者与目的地访问相关的感知风险, 其中同质性影响最大。较低的感知风险水平与较高的感知信息有用性相关, 从而提高游客的 eWOM 参与度和访问目的地的意愿。
实践意义
本研究结果为旅游业如何利用 eWOM 作为消费者经常咨询的信息源提供了实际意义。结果对 DMO 也很有价值, 使他们能够确定哪些类型的信息可以促进游客对目的地的积极态度和行为。
研究原创性/价值
本论文是首批研究 eWOM 可信度、感知风险和信息有用性之间的相互作用及其对旅游背景下消费者行为的影响的研究之一。
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M. Carmen Díaz-Fernández, M. Rosario González-Rodríguez and Biagio Simonetti
Despite an increasing number of studies focusing on workforce diversity, few consistent results and conclusions have yet been reached (Shore et al., 2009). The purpose of this…
Abstract
Purpose
Despite an increasing number of studies focusing on workforce diversity, few consistent results and conclusions have yet been reached (Shore et al., 2009). The purpose of this paper is to develop an integrative model of diversity, taking the Upper Echelon Theory further.
Design/methodology/approach
The model proposed tests the influence of job-related and non-job-related (or task-related) top management team (TMT) diversity on firm performance and strategic change. The mediation effect of performance on the TMT diversity-strategic change relation is emphasized in the model. A covariance-based structural equation modelling has been used to test the relationships involved in the research model.
Findings
An inverse relation between prior organizational performance and strategic change is found and some TMT diversity predictors appear to be more relevant than others in explaining performance and strategic change. In addition the mediator role of performance significantly influences the TMT diversity composition-strategic change relation.
Originality/value
The paper makes several contributions to the existing literature on TMT diversity and the TMT diversity composition-firm performance-strategic change relation.
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M. Carmen Díaz-Fernández, M. Rosario González-Rodríguez and Brendan Paddison
The purpose of this paper is to determine the top management team (TMT) intangible assets (demographical and managerial experience) diversity which influences firm performance in…
Abstract
Purpose
The purpose of this paper is to determine the top management team (TMT) intangible assets (demographical and managerial experience) diversity which influences firm performance in a diverse industrial context.
Design/methodology/approach
The paper analyses 159 whole TMTs from Latin American and European enterprises. The study focuses on three indicators (sales, return on assets and return on sales) as proxies of firm performance. The hypotheses formulated were tested using panel data and applying a random-effects model.
Findings
The paper reveals a large degree of volatility in the findings depending on the type of firm performance indicator. This provides insights regarding the controversy surrounding the black box Upper Echelon Theory and for entrepreneurial purposes concerning the relationship between TMT composition and the achievement of a high level performance.
Research limitations/implications
This study could be extended by analysing other important variables, such as top mangers’ physiological traits and cultural differences within the TMTs. The analysis could also be applied to a wider geographical area.
Practical implications
This paper may help enterprises to reach a better understanding of their TMT’s internal complex diversity by providing appropriate insights for a better decision-making process required to achieve an accurate firm outcome.
Originality/value
The paper is an extension on prior studies not only by focusing on a different geographical area different from the traditional USA context but also applying a longitudinal study scarcely applied in the demographic literature. In addition, attributes for all the TMT’s members (not only CEOs), three different proxies of performance and a highly diverse industry context from Latin American and European companies have been considered.
Propósito
El propósito de este artículo es determinar la diversidad de los activos intangibles del equipo de alta dirección (características demográficas y experiencia directiva) que influyen en el rendimiento empresarial en un contexto industrial diverso.
Diseño/metodología/enfoque
El artículo analiza 159 equipos de alta dirección completos procedentes de empresas Latino-Americanas y Europeas. El estudio se centra en tres indicadores como proxies del rendimiento empresarial (ventas, rotación de los activos y la rotación de las ventas). Las hipótesis fueron testadas utilizando datos de panel y aplicando un modelo de efectos aleatorios.
Resultados
El artículo pone de manifiesto una gran volatilidad en los resultados dependiendo del tipo de indicador de rendimiento utilizado. Este resultado proporciona luz a la controversia existente en torno a la “caja negra” de la Upper Echelon Theory y para propósitos empresariales concernientes a la relación entre la composición del equipo de alta dirección y el logro de altos niveles de rendimiento.
Limitaciones de la Investigación/implicaciones
Este estudio podría ser ampliado a partir del análisis de otras variables importantes como los rasgos psicológicos de los altos directivos y las diferencias culturales existentes dentro del equipo de alta dirección. El análisis puede ser también aplicado a una más amplia área geográfica.
Implicaciones prácticas
Este artículo puede ayudar a las empresas a alcanzar una mayor comprensión de la de la complejidad de la diversidad interna de su equipo de alta dirección proporcionando necesario para adoptar el mejor proceso de toma de decisiones para alcanzar y asegurar los objetivos empresariales.
Originalidad/Valor
El artículo es una extensión de estudios anteriores que no solo se centran en un área geográfica diferente al contexto tradicional norteamericano sino que también es una aplicación de una estudio longitudinal escasamente aplicado en la literatura demográfica. Además, se han considerado atributos de la totalidad de los miembros del equipo de alta dirección (no solo aquellos referentes a los CEOs), tres diferentes proxies del rendimiento y todo ello aplicado en un contexto industrial altamente diverso integrado por empresas Latino-Americanas y Europeas.
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Xi Zhong, Weihong Chen and Ge Ren
Many studies have examined the antecedents of firms' strategic change on a micro and meso level, but few studies have explored it from the macrolevel (e.g. economic policy…
Abstract
Purpose
Many studies have examined the antecedents of firms' strategic change on a micro and meso level, but few studies have explored it from the macrolevel (e.g. economic policy uncertainty) perspective. This research draws attention to the impact of economic policy uncertainty on firms' strategic change.
Design/methodology/approach
This research empirically tests hypotheses based on a sample of listed firms in China during the period between 2010 and 2017.
Findings
Based on real options theory, the authors theorize and find that economic policy uncertainty will negatively affect firms' strategic change through the mediating effect of CEO turnover. Moreover, organizational inertia will strengthen the negative impact of economic policy uncertainty on CEO turnover and will weaken the positive impact of CEO turnover on firms' strategic change.
Originality/value
First, this research contributes to the strategic change literature by demonstrating the important impact of economic policy uncertainty on firms' strategic change. Second, this research expands the literature on the economic consequences of economic policy uncertainty. Third, this research clarifies the path and boundary conditions of economic policy uncertainty affecting strategic change by introducing the mediating effects of CEO turnover and the moderating effects of organizational inertia.
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María Carmen Díaz-Fernández, María Rosario González-Rodríguez and Marek Pawlak
The importance of the performance of a firm and the essential role played by the management in their accomplishment has been discussed and recognised by many researchers from…
Abstract
Purpose
The importance of the performance of a firm and the essential role played by the management in their accomplishment has been discussed and recognised by many researchers from Drucker to Upper Echelon Theory. Nonetheless, currently, anybody has been able to determine the precious and reliable parameters which let the firm achieve required-level performance. The confusion around this objective is still sufficient and the controversial has being growing widely over time, being the findings achieved contradictory, insufficient, imprecise and unreliable. Regarding the demographical literature findings focus on the premises previous related to Upper Echelon Theory. The purpose of this paper is to go further and try to test how, not only the level, but also the diversity of constructs like top management teams (TMT)'s demographic characteristics influence the firm performance accomplished by the managers by applying a Hierarchical Linear Regression Model.
Design/methodology/approach
Based on primary data from two Spanish databases – SABI, CNMV – and secondary data, a sample size of 147 TMTs in large companies from 18 industries sector with headquarters in Spain over a four years period (2004-2007) were obtained. The analysis focused on the total TMT for each firm. To test the relationship between the company performance and the demographic constructs, a more recent methodology based on hierarchical linear models (HLMs) using a longitudinal dataset of multinational big firms with headquarters in Spain was applied.
Findings
After applying the statistical techniques the results show a partial confirmation of the hypotheses formulated in the theoretical model proposed. First, the analysis evidences that company size is both highly correlated with TMT size and their demographic variables in terms of diversity. Second, the HLM shows that TMT's education-level diversity has a negative and significant impact on corporate performance and no significant effects for functionality and education background diversity have been found. Based on the accomplished findings, organisations appear to be more concerned about the employee's education level rather than their education background. Moreover, the model further supports that companies seem to be more aware of industry experience diversity than functionality diversity, also confirming a greater influence of the more international experience diversity of TMT on corporate performance.
Originality/value
This study offers a significant contribution not only by specifying a three-level hierarchical regression models regarding diverse approaches to measure the performance variable as dependent variable but also by considering as predictors not only the level of the demographic variables but also their diversity. This knowledge is relevant for entrepreneurial purposes since it highlights the achievement of high performance. The results allow us to explain which constructs influence the achievement of firm performance. Thus, this knowledge could be relevant to the entrepreneurs to encourage the firm survival and growth. Furthermore, focused on an ambitious purpose, it reveals the parameters needed to achieve to get the optimums performance level. Hence, the present study contributes an attempt to advance the literature on TMT composition by applying multi-level theory given the nested structure of the data set. The paper is one of few studies which apply panel data to analyse the influences of TMT characteristics on corporate performance and one of the first focused on Spanish entrepreneurial context.
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Vivina Carreira, Joana Azeredo, María Rosario González-Rodríguez and María Carmen Díaz-Fernández
A World Heritage Site (WHS) since 2013, Coimbra, in the centre of Portugal, is already struggling with excess of tourists and with difficult management challenges. A possible…
Abstract
A World Heritage Site (WHS) since 2013, Coimbra, in the centre of Portugal, is already struggling with excess of tourists and with difficult management challenges. A possible solution for this overtourism problem can be the creation of alternative differentiated tourism products in neighbouring, peripheral small towns capable of diverting tourists and visitors from the sites in overload. Cultural routes inspired by landscapes and historical places and personalities can contribute to the affirmation of a collective memory, combining natural and cultural heritage and adding value to existent heritage resources while providing intercultural dialogues and interaction with the visited community and its distinctive values. This research in cultural tourism and education is about a proposal of a walking route for cultural interpretation intended for young visitors. The theoretical framework draws on the importance of designing tourism products that will engage families in quality time and that heritage interpretation products for young visitors can also create an awareness of the importance of cultural heritage and its conservation. Literature review regarding issues of interpretation in tourism as well as on family and educational tourism preceded an inventory which covers natural and cultural resources used as materials in the route manual and activity guide. An important piece of information was collected through a survey aimed at understanding the socio-economical, cultural and attitudinal impacts that were caused by the UNESCO listing of the University of Coimbra, Alta and Sofia as a WHS. The route project demonstrates how cultural tourism can be a driver of local development through adequately designed non-formal educational tourist programmes to foster an in-depth knowledge of destinations. The results point to the importance of destination managers and marketers to focus on providing informal educational activities which can increase the tourist offer and satisfaction of young and family tourism and thereby strengthen a destination competitiveness and value creation. The tourist route challenges young visitors and their families to know the most relevant cultural aspects of the region, allowing them to effectively contribute to local development, as it invites visitors' interaction with the local community.
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Yu-Ching Chiao, Yu-Chen Chang, Yi-Jung Hsu, Chang Hong Lu and Man-Ling Chang
This study is based on the role congruity theory that examines the association between top management team (TMT) gender diversity and corporate social responsibility (CSR…
Abstract
Purpose
This study is based on the role congruity theory that examines the association between top management team (TMT) gender diversity and corporate social responsibility (CSR) performance.
Design/methodology/approach
This study uses data from the Taiwan Economic Journal database and the Market Observation Post System provided by the Taiwan Stock Exchange. The sample consists of 4,140 annual observations of Taiwanese-listed companies in the electronics industry from 2016–2020.
Findings
The results revealed that TMT gender diversity is positively associated with CSR performance, and TMT international experience strengthens the positive association between TMT gender diversity and CSR performance.
Practical implications
CSR is imperative. The TMT’s gender diversity aligns with current environmental trends and social expectations, driven for CSR implementation essential. This diverse configuration enables the TMTs to address corporate adaptability and maintain global competitiveness.
Originality/value
The findings contribute significantly to the literature on TMT gender diversity by extending the application of role congruity theory beyond individual to team-level contexts and across gender boundaries. By incorporating diverse capabilities such as international experience within TMTs, the authors identify key boundary conditions that foster CSR. This expansion not only aligns with practical realities but also opens new avenues for research into the dynamics of diverse management teams.
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Ayman Issa, Hesham Yousef, Ahmed Bakry, Jalal Rajeh Hanaysha and Ahmad Sahyouni
The purpose of this study is to examine the impact of board diversity (e.g. nationality, gender and educational level) on financial performance for a sample of banks listed in 11…
Abstract
Purpose
The purpose of this study is to examine the impact of board diversity (e.g. nationality, gender and educational level) on financial performance for a sample of banks listed in 11 countries in the Middle East and North Africa region.
Design/methodology/approach
This paper uses the system generalized method of moments estimation approach on the data of banks listed in the MENA countries over the period 2011–2018 to investigate the relationship between board diversity and financial performance. Also, the findings are supported by additional robustness tests, including ordinary least squares, fixed and random effect techniques.
Findings
The empirical results show that there is a significant relationship between board diversity and financial performance in banks. Specifically, the findings demonstrate that board diversity related to nationality has a significant positive impact on bank performance. The findings also show an insignificant association between gender and educational level diversity and bank performance. The robustness analysis supports the findings of the baseline model.
Practical implications
The study provides multi-country evidence on the importance of board diversity in the MENA region and it sheds light on possible tracks for future reforms aimed at enhancing the effectiveness of the board’s functions.
Originality/value
This paper extends the existing literature by providing empirical evidence on the association between board diversity and financial performance of banks in the MENA countries. This paper also provides preliminary evidence on the importance of board diversity to influence financial performance.
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Diana Joiţa, Carmen Elena Dobrotă and Raquel Fernández-González
From the 1990s to the present, decision-makers around the world have sought to identify the most appropriate legal framework to support the energy transition. This research aims…
Abstract
From the 1990s to the present, decision-makers around the world have sought to identify the most appropriate legal framework to support the energy transition. This research aims to analyze the institutional dynamics of renewable energy promotion, focusing on regulatory aspects at the European and national level and emphasizing the case of Romania through several comparative approaches. In the context of the conflict in Ukraine, we focused on the issue of coal, which was reconsidered given the dependence of some European countries on this resource. The main research methods used in this study are comparative analysis and analysis of chronological information in a historical context, with correlations being made. The study was structured in three stages, the first from the 1990s until the European Energy Union formation, the second during the COVID-19 pandemic, and the third from the emergence of the conflict in Ukraine, which determined the recalibration of previously adopted measures. Starting from the hypotheses formulated and considering the regulatory scenario conducive to the transfer of public funds to achieve climate neutrality, the results of the study show the fact that, at this stage of the research, the states of the European continent are determined to fight for zero carbon by 2050. One result we found interesting is that almost a year after the outbreak of the conflict in Ukraine, less than a quarter of European states have moved past their assumed deadline for phasing out coal in the national mix.