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Examines the shareholder wealth effects of acquisitions in the lodging sector during the 1980s. Using the event study method, estimates the size of additional wealth accruing to shareholders of hotel companies arising from an acquisition. Over a 61‐day period surrounding the announcement of an acquisition, shareholders of target hotel companies earned, on average, 31.5 per cent additional returns.

The primary purpose of this study is to investigate the impact of information security breaches on hotel guests' perceived service quality, satisfaction, likelihood of recommending a hotel and revisit intentions.

Five‐hundred seventy‐four US travelers participated in this experimental study. The respondents were exposed to one of three different scenarios: “negative”, where an information security breach happened in the hotel where a person stayed last and guest information was compromised; “neutral”, where an information security breach happened and guest information remained safe; and “positive”, where participants were told that the hotel where they last stayed successfully passed a comprehensive security audit, meaning that their guest information is properly handled and secured.

The results of the study revealed a significant impact of the treatments on three of the four outcome variables: satisfaction, likelihood of recommending a hotel, and revisit intentions. Information security breach scenarios resulted in a negative impact on the outcome variables regardless of whether or not the guest's credit card information was compromised. A positive scenario revealed a significant increase in guest satisfaction and revisit intentions scores.

The findings of the study provide clear indication that hotel operators must continually strive to keep the sensitive data that is collected from their guests secure, and that failure to do so can have significant negative ramifications on current and future guests. The results also suggest that hotels should openly publicize their achievements in the field of PCI compliance.

The study contributes to the body of knowledge on the importance of credit card information security breaches to hotel guest satisfaction and future behavior. To date, this is the only study that has investigated this topic in the hospitality industry, and it therefore makes a significant improvement towards the understanding of the impact of information security breach on hotel guest perceptions and future intentions.

This paper aims to conduct bibliometric analysis on the studies dealing with capital structure’s speed of adjustment (SoA) and identify the prominent themes while suggesting future research directions in the area. The existing reviews broadly focus on the capital structure, which provides the scope for conducting a review on this sub-aspect of capital structure.

This study uses a three-stage process to conduct this review: identification of academic journals, selection and analysis of target papers. This study uses a combination of bibliometric tools and a system thinking approach to assess the current status of publications and emerging themes within the literature.

This study has found a progressive evolution of SoA in capital structure research from 1984 to 2021. Studies largely focus on implementing the dynamic models to analyse the impact of adjustment costs, dynamic economic conditions, corporate governance practices and other variables on the firms’ adjustment speed and financial decisions. The network analysis of citations, keywords and clusters gives further knowledge on the intellectual structure of the data.

This study is highly dependent on the papers available within the SCOPUS database. Studies not included herein are not part of this analysis, which may or may not bear an effect on the study’s findings.

To the best of the authors’ knowledge, the application of systems engineering concept of “system thinking approach” to identify literature gap and suggest directions for forthcoming research is the first of its kind, thus adding a novel and multidisciplinary aspect to this study.

The purpose of this study was to investigate the impact of several hotel promotional factors and consumers’ behavioral and demographic characteristics on their actual use of specific interactive information systems in hotels. The specific systems examined in this study were a hotel’s website, mobile app, push notification system, kiosk, smart TV in room, and tablet at front desk or in room.

A survey was conducted with a sample of 841 respondents who had stayed in a hotel that had interactive information systems. Logistic regression models were designed with the promotional factors (e.g. hotel staff encouraging purchasing products, push notifications or information presented on mobile devices or kiosks, seeing or hearing about other consumers using systems, advertising and press releases), behavioral variables (e.g. frequency and duration of stay) and demographic variables (e.g. gender and age) as independent variables. The independent variables were the individual systems used by guests.

The various promotional factors had a differential effect on consumers’ use of various interactive information systems. Information provided on mobile devices, staff encouraging purchasing and press releases and blogs, along with age and duration of stay, was found to have the highest impact on system usage.

This study examines for the first time, as per the authors’ knowledge, the actual use behavior of several hotel interactive systems, thus advancing the technology adoption literature. This study also utilizes a comprehensive list of hotel promotional factors that are able provide theoretical and empirical insight into the use of interactive systems, which was explained predominantly based on system perceptions and consumers’ characteristics.

本论文旨在研究若干酒店营销因素和消费者行为特征和统计人口特征对真正使用互动性系统的影响。本论文主要研究的主体包括, 酒店网站、移动APP、推送信息系统、自助服务机器、房间智能TV、以及前台或房间的平板电脑。

取样方式为问卷调查, 其样本数量是841位曾在酒店使用过互动系统的顾客。逻辑回归模型结合营销因因子（如酒店人员销售产品、推送信息、或者移动设备或者自助机上显示的营销信息、经由其他消费者介绍、广告、新闻稿等）, 行为特征变量（如酒店居住频率和长短）, 以及统计人口变量（如性别和年龄）作为因变量。因变量包括顾客使用的 独立系统。

多个营销因子对消费者使用多个互动性信息系统有着不同的影响。其中, 移动设备上的营销信息、人员销售、新闻稿和博客、以及消费者年龄和酒店居住长短对系统使用有最显著的影响。

本论文首次检验酒店互动性系统的真实使用情况, 因此对科技使用文献有显著价值。本论文还全面检验了一系列酒店营销因子, 从理论和实践角度来检验互动系统使用情况, 延展了之前对系统感知和消费者特性的理解。

关键词：互动科技、实际科技使用、酒店、逻辑回归

研究论文

The purpose of this paper is to follow a comparative framework to investigate the effects of outcome quality on loyalty through the mediating role of perceived value in four-star hotels and five-star hotels.

Following a review of the literature, some hypotheses were formulated to examine the effects of outcome quality on attitudinal loyalty and behavioral intention through the mediating role of perceived value. The data guiding the comparative analysis were collected from two groups of visitors staying either in four-start or five-star hotels. The sample included 356 international tourists who stayed overnight in four- or five-star hotels in Kuala Lumpur, Malaysia. Structural equation modeling was used to analyze the data.

Analyzing the data obtained helped to construct three models. In the first model, the effects of outcome quality on attitudinal loyalty and behavioral intention through the mediating role of perceived value in both group of customers was analyzed. In the second model, the effects of outcome quality on behavioral intention through the mediating role of perceived value were compared across the two groups. In the third model, all dimensions of attitudinal loyalty and behavioral intention were combined into one single variable called composite loyalty.

In the first model, the (in)direct effect of outcome quality on both of the dimensions of loyalty (attitudinal loyalty and behavioral intention) was confirmed through perceived value as the mediating variable. The results of processing the second model showed that the impact of outcome quality on behavioral intention was greater in the four-star hotels clients, whereas the effect of perceived value on behavioral intention was greater in the five-star hotels visitors. The third model revealed that the (in)direct effect of outcome quality on composite loyalty through perceived value was greater in the four-star hotels clients than that in the five-star hotels clients.