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The purpose of this paper is to examine the influence of entrepreneurial orientation (EO) dimensions on firm performance in the tourism sector. The goal is twofold: on the one hand, the paper aims to test whether EO dimensions are still significant determinants of performance after controlling for possible confounding factors; on the other hand, it aims to address the question of which EO dimension exerts the strongest effect on performance.

A survey was carried out in the Sardinian accommodation sector in 2012 and 224 questionnaires were collected. The multidimensional EO constructs were adopted.

The results show that innovativeness, proactiveness and autonomy were significantly associated with tourism firm performance, whereas risk-taking and competitiveness were not.

The results are limited to the Sardinian accommodation context. Self-reported data were used to measure firm performance. Further research works could replicate the analyses using objective firm performance not only in similar touristic destinations but also in other countries and incorporating other industries.

The study suggests educational and managerial implications. Entrepreneurs in the tourism sector should be encouraged to adopt an innovative, autonomous and proactive approach in managing their firms.

The study advances entrepreneurial knowledge in the tourism sector and in particular in the accommodation industry. The multidimensional EO approach has never been adopted among touristic firms. Furthermore, considering that EO research has been overlooked in the country of Italy, this study’s contribution is also providing evidence from an area that has received minimal attention to date.

This paper aims to better understand how business model innovation (BMI) occurs in the context of sustainable entrepreneurship, emphasizing the dialectical nature of entrepreneurial relationships. To do so, key interdependencies and reciprocal influences between internal/firm-specific and external/environmental factors underlying BMI for sustainability are analysed through co-evolutionary lenses.

A co-evolutionary framework is developed and applied to a longitudinal business model (BM) analysis of 15 Italian widespread hotels, which creatively use historic villages at risk of abandonment to establish their hotels.

Largely influenced by the interplay between internal and external factors, BMI of widespread hotels occurs through multilevel co-adaptations, which are recognised as virtuous by all stakeholders involved. Effective variations of the BM value elements are selected resulting in circular economy practices, which are retained for successful BMI, radical (first) and incremental (thereafter). Knowledge of specific local and multi-local conditions, time awareness and a future-oriented temporal perspective, by both entrepreneurs and policymakers, favour this dynamic.

Developing targeted policies and practices based on increased organisational knowledge supported by indicators can help in selecting and retaining successful variations of BMs appropriately in/with time with positive effects on firms' performance and sustainable development.

This study provides a novel co-evolutionary framework that explicitly links sustainable entrepreneurship and BM concepts in the accommodation sector. It further proposes a dynamic and holistic explanation of BMI for sustainability from which the crucial roles of the time-knowledge binomial and circular practices emerge.

A leading characteristic of international tourists at every tourist destination is their role as foreign–income disseminator, and a large number of papers have been dedicated to exploring their behavior. In contrast, this paper aims to shed light on the supply-side of tourism through the study of a hotels’ ability to internationalize their businesses.

Based on each hotel’s input data, its efficiency was estimated by a data envelopment analysis approach. Then, the hotel’s intensity of demand from foreign guests was regressed against hotel efficiency along with firm’ control variables.

Results from Heckman correction model indicate that ordinary least squares regression would be subject to selection bias, and the results from the correction model strongly indicate a positive linkage between the hotel’s efficiency level and its foreign to total guest ratio, especially in the sub-sample of hotels located in non-tourist destinations. In addition, the results also reveal that the availability of certain services and facilities at hotels are positively related to the number of foreign guests, namely, a spa service and swimming pools.

Therefore, the main implications from this study are twofold. First, if a hotel’s target market is international travelers, a swimming pool and the availability of a spa service are essential features for hotels in Thailand. Second, policies to improve productivity in hotels should be simultaneously implemented along with tourist-destination-promotion campaigns to optimize the economic impact of international tourist arrivals.

The study aims to assess how corporate branding affects firm performance in the context of the Oman hotel industry, listed on the Muscat Stock Exchange (MSX).

This study approach was made by way of a mixed method. First, it examines qualitative and exploratory information collected from companies’ internet sites, audited annual reports (the financial year 2019) published in MSX, web searches and websites of companies and travel agencies from all the eight listed hotel companies in the MSX to examine the impact of corporate branding on firm performance proxied by return of assets (ROA) and return of equity (ROE) and secondly, it assesses the measurement and structural models by applying partial least squares structural equation modeling (PLS-SEM).

The findings recommend that well-thought-out web marketing on corporate branding by hotel companies leads to firm performance. The findings indicate that corporate branding on travel agency websites and a company’s own website can help businesses become more profitable. In addition, there is a synergistic connection on corporate branding of the hotel industry, including the presentation of a novel hotel narrative, the conception of a cornerstone loyalty program, the demonstration of excellence in hospitality and service, information on timely amenities like Covid-19 safety measures and the use of technology and experiential elements through platforms like the company website or the website of the travel agent all essential to achieve firm financial performance. As per the importance–performance matrix map, websites of travel agents (agoda.com, booking.com and hotels.com) had the importance (agoda.com 0.616, booking.com 0.959 and hotels.com 1.036) to impact companies’ corporate branding and firm performance, whereas Google search shows a value of −1.954, which has no impact on companies’ corporate branding.

The study considered only one hotel/tourism industry to know the effect of corporate branding on firm performance. Further studies may be chosen on other industries needed to allow for generalization.

This study aims to provide insights into how the hotel industry can make use of corporate branding through the company website, Google sites and websites of companies’ travel agency by providing timely updated promotion, facilities, quality services and hygiene matters to enhance firm performance.

This study provides empirical evidence to find various factors of corporate branding of the hotel industry’s firm performance. In addition, the study offers valuable insight into the nonmonetary measures of achievements.

After the COVID-19 outbreak began, travel demand dropped sharply and the potential impact of COVID-19 on sharing accommodations appears to be significant. Thus, it would be meaningful to investigate how travelers have changed their perceptions of staying at sharing accommodations in the wake of the coronavirus pandemic. The purpose of this research was to compare consumers' perceived risks of using sharing accommodations, such as Airbnb, before and during the coronavirus pandemic.

Paired sample t-tests were applied, using two surveys collected in 2017 (pre-pandemic) and 2020 (peri-pandemic). The effects of stress levels from COVID-19 and previous experience with sharing lodging services on risk perception changes were also examined.

Consumers showed higher social, physical, performance and convenience risk perceptions during the pandemic. Not surprisingly, those respondents who were more conscious of the pandemic in terms of concern and anxiety had higher changes in their risk perceptions. In addition, changes in risk perception differed by consumers' usage experience.

The results of this study add to the body of knowledge about consumers' risk perceptions of the sharing economy, particularly in connection with a huge disruption such as the COVID-19 pandemic.

This study adopts the dynamic capabilities perspective to analyze environmental performance in family firms and explores the moderating effects that both family involvement in the Top Management Team (TMT) and long-term orientation (LTO) exert on the relationship between dynamic capabilities and environmental performance.

The authors test the hypotheses on a database of 748 family tourism firms, using hierarchical regression analysis.

The authors' results show that both variables have a beneficial effect on building the dynamic capabilities to be applied to improving environmental performance. However, the moderating effect of family involvement is revealed to be more complex than that of LTO. Having a high degree of family managerial involvement positively moderates the effect of dynamic capabilities on environmental performance but only in family firms with highly-developed dynamic capabilities; conversely, in family firms with lower levels of dynamic capabilities not having this family involvement in the TMT is better.

This study helps advance the research on Spanish family tourism firms by adopting an approach that unveils the heterogeneity in dynamic capabilities among said firms, driven by the firms' idiosyncratic features in terms of family involvement in the TMT and their LTO. The article also provides practical insights for family business owners, managers and advisors and outlines important directions for future research.

Against the theoretical backdrop of the embeddedness and the resilience literatures, this paper investigates if and how SMEs' planning for adversity affects firms' performance.

The paper develops hypotheses that investigate the link between the risk management of immigrant-led and native-led SMEs and their performance and draw on novel data from a survey on 900 immigrant- and 2,416 native-led SMEs in 5 European cities to test them.

Immigrant-led SMEs are less likely to implement an adversity plan, especially when they are in an enclave sector. However, adversity planning is important to enhance the growth of immigrant-led businesses, even outside a crisis period, and it reduces the performance gap vis-à-vis native-led businesses. Inversely, the positive association between adversity planning and growth in the sample of native entrepreneurs is mainly driven by entrepreneurs who have experienced a severe crisis in the past.

This paper empirically uses planning for adversity as an anticipation stage of organizational resilience and tests it in the context of immigrant and native-led SMEs. Results support the theoretical reasoning that regularly scanning for threats and seeking information beyond the local community equips immigrant-led SMEs with a broader structural network which translates into new organizational capabilities. Furthermore, results contribute to the process-based view of resilience demonstrating that regularly planning for adversity builds a firm's resilience potential, though the effect is contingent on the nationality of the leaders.

Drawing on social exchange theory, this study clarifies the roles of authenticity, interactivity and involvement in predicting customer engagement (CE) and, ultimately, customer loyalty towards an online peer-to-peer accommodation platform. In addition, the study explores the effect of interactivity in increasing authenticity.

Data were collected through an online questionnaire of a sample of Italian tourists who had previously booked a service on Airbnb. The analyses were conducted by adopting partial least squares structural equation modelling.

The model has high power in predicting customer loyalty to an online peer-to-peer accommodation platform. Specifically, involvement is the primary predictor of CE and customer loyalty. Authenticity and interactivity also have a significant and positive effect both on CE and customer loyalty. In addition, CE partially mediates the relationship between authenticity, interactivity and involvement and customer loyalty. Finally, interactivity has a significant positive effect on authenticity.

The results encourage hospitality service providers to invest in the creation (and co-creation) of authentic experiences to increase CE and customer loyalty. Hospitality managers can also enhance CE by increasing involvement and interaction with customers through various touchpoints (online and offline) in different moments of the customer journey.

This study proposes an original model to predict customer loyalty to peer-to-peer hospitality platforms. The findings shed new light on the drivers of CE and provide empirical support for the mediating effect of CE. The study also contributes to the literature on authenticity by demonstrating the positive effect of interactivity on authenticity.

Building on the premise that top managers' characteristics affect firm outcomes, the study aims to examine whether the impostor feelings of top managers are associated with firm performance.

This study uses survey and regression estimation.

The results show that there is no strong association between the impostor phenomenon and firm performance, when considering the overall sample. However, in the case of women who experience strong impostor feelings, performance is negatively affected. There is no evidence that being a CEO or workload are mechanisms that explain this result.

Improving the understanding of whether top manager impostor feelings sabotage or improve firm performance can encourage managers to engage in preventive actions to overcome or explore its effects adequately so that positive firm outcomes are fostered.

Despite the economic importance of how top managers' judgment affects their decisions, little is known about how the cognitive frames of their top managers affect firm outcomes. In particular, there is no clear understanding of how top managers' feelings of inadequacy, intellectual phoniness and deceitfulness (the impostor phenomenon) affect firm profitability.

This study empirically assesses the effects of two key types of organizational and managerial capabilities—dynamic capabilities, and coordination and cohesion capabilities—on environmental performance, considering the moderating effect of family ownership. By applying the tenets of the natural resource-based view and the dynamic capabilities theory, this paper offers new insights into the topic.

The article presents empirical evidence from a survey of 1,019 firms operating in the Spanish tourism sector analyzed using multiple linear regression.

Overall, our results show that both dynamic capabilities and coordination and cohesion capabilities have direct and synergetic positive effects on environmental performance. In addition, the results confirm recent studies that report conflicting evidence on how family ownership affects environmental performance: family ownership is found to exert a distinct direct effect on environmental performance and on the development and application of the capabilities required to improve such performance.

This article sheds light on the conceptual frontiers between the different types of capabilities, as well as provides practical ways of measuring them. The article also brings evidence to bear on the debate concerning the direct and moderating effect that family ownership exerts on the relationship between both types of capabilities over environmental performance. The results of this analysis confirm the complexity of the family ownership effect on this aspect, and provide important insights for both business practitioners and academics.

本研究擬審查多頻率的及為市場成份的信息流和全球指數。

研究人員使用基於改良完全集合經驗模態分解自適應噪聲(Improved Complete Ensemble Empirical Mode Decomposition with Adaptive Noise)的聚類分析法,取得Rényi有效轉移熵,藉此得到研究結果。

我們發現、於大部份多頻率,在持續性股票和傳統股票間有顯著的負信息流動,這會增加多樣化的益處。這些信息流大部份是雙向的,這強調了股票市場成份及其全球指數在構建投資組合上的重要性。

我們認為持續性股票市場和傳統股票市場大多為異質市場,這顯示了市場的低效率,而且這低效率的程度頗大。

關於傳統股票的實證性文獻裡是充滿了變革動力的,這顯示了它們以多樣化為目的的回報行為。這使我們對關於持續性股票的回報行為、認識變得實在太少了。於此,大量的企業社會責任的新措施不斷提醒各公司、要本著企業社會責任的理念去營運;但投資者需清晰明白他們為何需在可見的將來保持可持續性。因此,他們卑微的願望是一個較好的多樣化投資組合得以形成,故此他們高度要求股票要有組成可靠投資組合的性質和能力,特別是在持續性股票和/或傳統股票當中。