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Article
Publication date: 29 April 2024

Faouzi Ghallabi, Khemaies Bougatef and Othman Mnari

This study aims to identify calendar anomalies that can affect stock returns and asymmetric volatility. Thus, the objective of this study is twofold: on the one hand, it examines…

Abstract

Purpose

This study aims to identify calendar anomalies that can affect stock returns and asymmetric volatility. Thus, the objective of this study is twofold: on the one hand, it examines the impact of calendar anomalies on the returns of both conventional and Islamic indices in Indonesia, and on the other hand, it analyzes the impact of these anomalies on return volatility and whether this impact differs between the two indices.

Design/methodology/approach

The authors apply the GJR-generalized autoregressive conditional heteroskedasticity model to daily data of the Jakarta Composite Index (JCI) and the Jakarta Islamic Index for the period ranging from October 6, 2000 to March 4, 2022.

Findings

The authors provide evidence that the turn-of-the-month (TOM) effect is present in both conventional and Islamic indices, whereas the January effect is present only for the conventional index and the Monday effect is present only for the Islamic index. The month of Ramadan exhibits a positive effect for the Islamic index and a negative effect for the conventional index. Conversely, the crisis effect seems to be the same for the two indices. Overall, the results suggest that the impact of market anomalies on returns and volatility differs significantly between conventional and Islamic indices.

Practical implications

This study provides useful information for understanding the characteristics of the Indonesian stock market and can help investors to make their choice between Islamic and conventional equities. Given the presence of some calendar anomalies in the Indonesia stock market, investors could obtain abnormal returns by optimizing an investment strategy based on seasonal return patterns. Regarding the day-of-the-week effect, it is found that Friday’s mean returns are the highest among the weekdays for both indices which implies that investors in the Indonesian stock market should trade more on Fridays. Similarly, the TOM effect is significantly positive for both indices, suggesting that for investors are called to concentrate their transactions from the last day of the month to the fourth day of the following month. The January effect is positive and statistically significant only for the conventional index (JCI) which implies that it is more beneficial for investors to invest only in conventional assets. In contrast, it seems that it is more advantageous for investors to invest only in Islamic assets during Ramadan. In addition, the findings reveal that the two indices exhibit lower returns and higher volatility, which implies that it is recommended for investors to find other assets that can serve as a safe refuge during turbulent periods. Overall, the existence of these calendar anomalies implies that policymakers are called to implement the required measures to increase market efficiency.

Originality/value

The existing literature on calendar anomalies is abundant, but it is mostly focused on conventional stocks and has not been sufficiently extended to address the presence of these anomalies in Shariah-compliant stocks. To the best of the authors’ knowledge, no study to date has examined the presence of calendar anomalies and asymmetric volatility in both Islamic and conventional stock indices in Indonesia.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 3 May 2024

Birgül Aydın and Emre Ozan Aksöz

This research paper aims to identify and provide insights into rejuvenation strategies in Kaş as a microtourism destination based on the views of stakeholders.

Abstract

Purpose

This research paper aims to identify and provide insights into rejuvenation strategies in Kaş as a microtourism destination based on the views of stakeholders.

Design/methodology/approach

The research utilizes a single-case design, applying an inductive approach to analyze data collected from semi-structured interviews. Thematic analysis was employed to analyze the data.

Findings

The inductive thematic analysis yields nine different main themes: product transformation, integrated sustainable development strategies, cooperation, promotion through the right channels, stable tourism policy, selective tourism strategy, tourism awareness, access to tourist movements and management and tools for monitoring the quality and sustainability of tourism.

Practical implications

This research offers practical recommendations for regional authorities, residents and business stakeholders to foster sustainable tourism development by addressing resource utilization and existing challenges in the rejuvenation of Kaş.

Originality/value

This research contributes to theory by addressing the lack of applied research on the rejuvenation process in micro-tourism destinations, using Kaş (Turkey) as a case study. It identifies and emphasizes the unique challenges in microdestinations, enhancing our understanding and filling a critical knowledge gap. The identified rejuvenation strategies in Kaş are positioned to serve as a model for similar destinations, emphasizing their distinctive characteristics and challenges.

Details

Journal of Hospitality and Tourism Insights, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9792

Keywords

Article
Publication date: 2 February 2023

Md. Tariqul Islam, Uma Pandey, Satyajit Sinha and Siti Rahayu Hussin

Based on the Stimulus-Organism-Response Model, this study aims to investigate how the intention of Chinese guests to revisit a hotel (response) is triggered by the quality of the…

Abstract

Purpose

Based on the Stimulus-Organism-Response Model, this study aims to investigate how the intention of Chinese guests to revisit a hotel (response) is triggered by the quality of the hotel’s hygiene protocols (stimulus) during the pandemic. Brand image, perceived guest satisfaction and perceived customer trust were examined as the organism factors in this model.

Design/methodology/approach

The quantitative method was adopted to collect data via a structured online survey of 385 Chinese hotel guests. Their responses were analyzed using SPSS (v.26) and SmartPLS (3.3.2) software.

Findings

The quality of hotel hygiene protocols was found to have a significant impact on hotel brand image, perceived guest satisfaction and perceived guest trust. Hotel brand image, perceived guest satisfaction and perceived guest trust, in turn, demonstrated significant relationships with guests’ revisit intention.

Research limitations/implications

Theoretically, the present study offers a framework to understand the impact of hotel hygiene protocols on guest revisit intention. Practically, the findings of the study encourage industry practitioners to implement proper safety protocols and standard operating procedures related to COVID-19.

Originality/value

Since the beginning of the pandemic, hotel hygiene standards have become a key concern for guests. The current study provides important and meaningful insights into whether and how hotel hygiene quality promotes guest revisit intention.

Details

International Journal of Tourism Cities, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-5607

Keywords

Article
Publication date: 30 November 2023

Muhammad Waqas, Sadaf Rafiq and Jiang Wu

The COVID-19 outbreak has disrupted the habits of customers as well as their shopping behavior. This study aims to critically examine the associated benefits and challenges of…

Abstract

Purpose

The COVID-19 outbreak has disrupted the habits of customers as well as their shopping behavior. This study aims to critically examine the associated benefits and challenges of online shopping from the perspective of customers in the COVID-19 pandemic.

Design/methodology/approach

A systematic review of the relevant literature published between 2020 and 2022 was conducted via performing comprehensive search query in leading scholarly databases “Scopus and Web of Science” with the restriction of their predefined subject category of “Business.” Overall, 30 research studies were selected for the review and a significant number of studies were published in 2021 (n = 15).

Findings

The research findings revealed that customers are motivated to shop online because of perceived benefits such as time-saving, convenience, 24/7 accessibility, interactive services without physical boundaries, trust, website attractiveness and cost-saving. However, challenging factors such as financial scams, privacy concerns, poor quality of products and services, fake promotions and reduced social interaction have hindered the growth of online shopping. The recommendations regarding designing marketing strategies, secured transaction, multiple payment options, trust building, protection of privacy, promotion via social media, effective mechanism to secure and timely delivery of product are helpful to improve the service quality of online shopping.

Originality/value

The outcomes of this research are valuable to online retailers and policymakers, as it highlights how the benefits can enhance customers’ shopping intentions and minimize the impact of associated challenges. This study also recommends the redesigning of user-friendly interfaces of online shopping websites and ensures their privacy, security and performance on a regular basis.

Details

Global Knowledge, Memory and Communication, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9342

Keywords

Open Access
Article
Publication date: 20 March 2023

Md. Rabiul Awal, Md. Shakhawat Hossain, Tahmina Akter Arzin, Md. Imran Sheikh and Md. Enamul Haque

Online shopping around the world is growing exponentially, especially during the COVID-19 pandemic. This study aims to examine how an online customer's purchasing experience…

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Abstract

Purpose

Online shopping around the world is growing exponentially, especially during the COVID-19 pandemic. This study aims to examine how an online customer's purchasing experience influences his/her buying intention and willingness to believe in fraud news, as well as the ripple impact of satisfaction and trust, with gender as a moderator in an emerging economy during COVID-19.

Design/methodology/approach

Based on the underpinning of the stimulus-organism-behavior-consequence (SOBC) theory, the research model was developed, and collected data from 259 respondents using convenience samples technique. Next, the data were analyzed using partial least squares-based structural equation modeling (PLS-SEM), SPSS (Statistical Package for the Social Sciences) and Hayes Process Macro.

Findings

The study results confirmed that the online shopping experience (OSE) has positive impact on customers' satisfaction (CS), purchase intention (PI) and customer trust (CT); CS has positive effects on trust toward online shopping and their future product PI; future product PI significantly affects customers' propensity to believe and act on fraud news (PBAFN). The finding also states that gender moderates the relationships of CS to PI, OSE to PI and PI to PBAFN, but doesn't moderate the CT to PI relationship.

Originality/value

The study findings will assist policymakers and online vendors to win customers' hearts and minds' through confirming satisfaction, trust and a negative attitude toward fake news, which will lead to customer loyalty and the sustainable development of the industry. Finally, the limitations and future research directions are discussed.

Details

PSU Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-1747

Keywords

Article
Publication date: 17 January 2024

Lior Solomovich and Villy Abraham

The present study’s aims are twofold: 1) to contribute to theory development by accounting for both personality and trust in the conceptualization of technology acceptance using…

Abstract

Purpose

The present study’s aims are twofold: 1) to contribute to theory development by accounting for both personality and trust in the conceptualization of technology acceptance using the technology acceptance model (TAM) as the theoretical framework; and 2) to explore the influence of ChatGPT-integrated chatbots on tourism behavior.

Design/methodology/approach

The target population for this study was travelers who previously used technology (website/ app) to plan their holiday abroad. An online survey questionnaire created with Google Forms was distributed via a panel company (iPanel). A screening question was included to filter out respondents who have not previously used technological means to plan their holiday abroad. A panel company (iPanel) was hired to collect data from a convenience sample of 305 Israeli tourists who met the above criterion between August 22 and 27, 2023, and were at least 18.

Findings

A significant and positive relationship was observed between trust in ChaptGPT and perceived usefulness. Furthermore, a significant and positive association was observed between perceived ease of use and intentions to use ChatGPT-integrated chatbots to plan future holidays. Post hoc analyses suggest that perceived ease of use mediates the relationship between extraversion and trust, trust mediates the relationship between perceived ease of use and perceived usefulness and age moderates the relationship between perceived ease of use and behavioral intentions.

Research limitations/implications

Data was collected from a convenience sample of Israeli travelers. Hence, generalizations to other countries, nationalities and cultures should be treated carefully; the study is cross-sectional and thus represents respondents’ beliefs and behavioral intentions at a particular time; and the study is based on one of several theoretical frameworks that can be used to conceptualize behaviors associated with using AI by tourists.

Practical implications

The findings of the present study point to the importance of accounting for tourists’ personal factors, such as personality and age, in developing AI products in the tourism industry. chief executive officers and relevant shareholders would benefit from conducting market research to obtain insights into the factors that may enhance or hamper tourists’ adoption of AI-based technology for planning their holidays abroad.

Originality/value

Previous work falls short of accounting for personality traits and trust in a single model using the TAM framework. To the best of the authors’ knowledge, this is the first study empirically investigating tourism behavior related to ChatGPT based chatbots as a tool to plan future holidays abroad. Furthermore, the possible role of age as a moderating variable was overlooked in past research.

目的

本研究的目标有两个:1)采用技术接受模型作为理论框架, 通过考虑技术接受概念化中的个性和信任来促进理论发展; 2)探讨ChatGPT集成的聊天机器人对旅游行为的影响。

设计/方法/途径

本研究的目标人群是以前使用技术(网站/应用程序)计划出国度假的旅行者。使用 Google Forms 创建的在线调查问卷通过小组公司 (iPanel) 分发。其中包含一个筛选问题, 以筛选出之前未使用技术手段计划出国度假的受访者。聘请了一家调查公司(iPanel)来收集 305 名以色列游客的便利样本数据, 这些游客在 2023 年 8 月 22 日至 27 日期间符合上述标准, 且年龄至少为 18 岁。

研究结果

在 ChaptGPT 的信任度和感知有用性之间观察到显着且积极的关系。此外, 观察到易用性与使用集成 ChatGPT 的聊天机器人来计划未来假期的意向之间存在显着且正相关的关系。事后分析表明, 感知的易用性调节了外向性和信任之间的关系; 信任调节感知易用性和感知有用性之间的关系, 年龄调节感知易用性和行为意愿之间的关系。

原创性

以前的工作未能在单个模型中使用技术接受模型框架来解释个性特征和信任。这是第一项实证研究, 调查与 ChatGPT 集成聊天机器人相关的旅游行为, 作为规划未来出国度假的工具。此外, 过去的研究忽视了年龄作为调节变量的可能作用。

研究局限性/影响

1)数据是从以色列旅行者的便利样本中收集的。因此, 应该谨慎对待对其他国家、民族和文化的概括; 2)该研究是横断面的, 因此代表了受访者在特定时间的信念和行为意愿; 3)该研究基于几个理论框架之一, 该框架可用于概念化游客使用 ChatGPT 集成聊天机器人来计划未来出国度假的意向。

实际影响

本研究的结果表明, 在开发用于旅游业的基于 ChatGPT 的聊天机器人时, 考虑游客的个人因素(例如个性和年龄)的重要性。首席技术官和相关股东将受益于进行市场研究, 以深入了解可能增强或阻碍游客采用基于 ChatGPT 的聊天机器人来规划未来出国度假的因素。

Objetivo

Los objetivos del presente ossib son dos: 1) contribuir al ossibleo de la teoría incorporando la personalidad y confianza en la conceptualización de la aceptación de la tecnología empleando el Modelo de Aceptación de la Tecnología como marco teórico; 2) analizar la influencia de los chatbots integrados en ChatGPT en el comportamiento turístico.

Diseño/metodología/enfoque

La población objetivo de este ossib fueron los viajeros que anteriormente utilizaban tecnología (página web/aplicación) para planificar sus vacaciones en el extranjero. Se distribuyó un cuestionario online creado con Google Forms a través de una empresa de paneles (iPanel). Se incluyó una pregunta de selección para filtrar a los encuestados que no habían utilizado previamente medios tecnológicos para planificar sus vacaciones en el extranjero. Se contrató a una empresa de paneles (iPanel) para recopilar datos de una muestra de conveniencia de 305 turistas israelíes que cumplieron el criterio anterior entre el 22 y el 27 de ossib de 2023, y con una edad ossib de 18 años.

Resultados

Se identificó una relación ossibleon y ossible entre la confianza en ChaptGPT y la utilidad percibida. Además, se evidenció una asociación ossibleon y ossible entre la facilidad de uso percibida y la intención de ossible chatbots integrados en ChatGPT para planificar futuras vacaciones. Los análisis post-hoc sugieren que la facilidad de uso percibida media la relación entre la ossibleon y la confianza; la confianza media la relación entre la facilidad de uso percibida y la utilidad percibida, y la edad modera la relación entre la facilidad de uso percibida y las intenciones de comportamiento.

Limitaciones/implicaciones de la investigación

1) los datos se recopilaron de una muestra de conveniencia de viajeros israelíes. Por tanto, las generalizaciones a otros países, nacionalidades y culturas deben tratarse con cuidado; 2) el ossib es transversal y, por tanto, representa las creencias y las intenciones de comportamiento de los encuestados en un momento determinado; 3) el ossib se basa en uno de los diversos marcos teóricos que pueden emplearse para conceptualizar la intención de los turistas de ossible chatbots integrados en ChatGPT para planificar futuras vacaciones en el extranjero.

Implicaciones ossible

Los resultados del presente ossib señalan la importancia de tener en cuenta los factores personales de los turistas, como la personalidad y la edad, en el ossibleo de chatbots basados en ChatGPT para su uso en la industria turística. Los directores de tecnología y los stakeholders relevantes se beneficiarían de investigación de mercado para obtener información sobre los factores que pueden mejorar o dificultar la adopción de chatbots basados en ChatGPT por parte de los turistas para planificar futuras vacaciones en el extranjero.

Originalidad

Los trabajos anteriores no tienen en cuenta los rasgos de personalidad y la confianza en un único modelo utilizando ossible TAM. Este es el primer ossib que investiga empíricamente el comportamiento turístico relacionado con los chatbots basados en ChatGPT como herramienta para planificar las futuras vacaciones en el extranjero. Además, en investigaciones anteriores no se ossible el ossible papel de la edad como variable moderadora.

Article
Publication date: 16 April 2024

Syed Muhammad Ali Shahbaz Habib, Mahwish Sindhu and Irfan Saleem

Drawing upon social exchange theory, this research investigates the interplay of corporate philanthropy, environmental marketing strategy, relationship quality, greenwashing, and…

Abstract

Purpose

Drawing upon social exchange theory, this research investigates the interplay of corporate philanthropy, environmental marketing strategy, relationship quality, greenwashing, and customer citizenship behavior in the family-owned hotels of an emerging market.

Design/methodology/approach

A field survey questionnaire was used to gather the data from 394 hotel customers by randomly selecting three premium family-owned hotels in Lahore: Faletti’s, Avari, and Holiday Inn. The data was analyzed using the structural regression modeling (SRM) technique with the assistance of AMOS version 24.

Findings

The results show that corporate philanthropy and environmental marketing strategy positively influence relationship quality, and relationship quality positively influences customer citizenship behavior. Relationship quality partially mediates the association between corporate philanthropy and customer citizenship behavior, but we found that greenwashing does not have a moderating role.

Research limitations/implications

This research has theoretical implications for marketing scholars and practical implications of family-owned hotels in emerging markets.

Originality/value

The study has contributed contextually by collecting a unique dataset from family-owned hotels in an emerging market. Theoretically, we have conceptualized a model through the Social Exchange Theory by recommending relationship quality as a mediator and greenwashing as a moderator.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 18 January 2024

Tahir Albayrak, Aslıhan Dursun-Cengizci, Lawrence Hoc Nang Fong and Meltem Caber

By conducting a longitudinal study, this study aims to investigate how the role of hotel attributes in destination competitiveness changed through the stages of pre-, amid and…

Abstract

Purpose

By conducting a longitudinal study, this study aims to investigate how the role of hotel attributes in destination competitiveness changed through the stages of pre-, amid and recovery from the crisis.

Design/methodology/approach

First, the latent Dirichlet allocation method was used to identify hotel attributes from 15,137 online reviews, and then a sentiment analysis was performed to determine tourist satisfaction with the subject attributes. Second, separate asymmetric impact competitor analyses were conducted for the three stages of the crisis, and their results were compared with understand how the role of the hotel attributes changed throughout the crisis.

Findings

The results revealed that the impacts of hotel attributes on tourist satisfaction and destination competitiveness differed significantly at each stage of the crisis.

Research limitations/implications

This research expands the existing literature by offering valuable insights by elucidating the changing characteristics of hotel attributes at each crisis stage. The results extend the body of knowledge in destination management by providing evidence on the validity of asymmetric impact competitor analysis.

Originality/value

To fully understand the impact of a crisis (e.g. COVID-19) on destination competitiveness with a focus on the hotel sector, this research conducted a longitudinal study that covers three stages of the crisis (i.e. pre-, amid and post-crisis). Moreover, unlike previous studies, this research considers the asymmetric relationships between service attributes and overall tourist satisfaction, as well as competitors’ information.

Details

International Journal of Contemporary Hospitality Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 7 June 2023

Yani Dong, Yan Li, Hai-Yan Hua and Wei Li

As the current Coronavirus 2019 pandemic eases, international tourism, which was greatly affected by the outbreak, is gradually recovering. The attraction of countries to overseas…

Abstract

Purpose

As the current Coronavirus 2019 pandemic eases, international tourism, which was greatly affected by the outbreak, is gradually recovering. The attraction of countries to overseas tourists is related to their overall performance in the pandemic. This research integrates the data of vaccination of different countries, border control policy and holidays to explore their differential impacts on the overseas tourists’ intention during the pandemic. This is crucial for destinations to built their tourism resilience. It will also help countries and industry organizations to promote their own destinations to foreign tourism enterprises.

Design/methodology/approach

This study proposes an analysis based on panel data for ten countries over 1,388 days. The coefficient of variation is used to measure monthly differences of Chinese tourists’ intention to visit overseas country destinations.

Findings

Results show that, for tourist intention of going abroad: border control of the destination country has a significant negative impact; daily new cases in the destination country have a significant negative impact; domestic daily new cases have a significant positive impact; holidays have significant negative impact; daily vaccination of the destination countries has significant positive impact; and domestic daily vaccination have negative significant impact.

Research limitations/implications

First, there is a large uncertainty in studying consumers’ willingness to travel abroad in this particular period because of unnecessary travel abroad caused by the control of the epidemic. Second, there are limitations in studying only Chinese tourists, and future research should be geared toward a broader range of research pairs.

Practical implications

First, from the government perspective, a humane response can earn the respect and trust of tourists. Second, for tourism industry, to encourage the public take vaccine would be beneficial for both the tourism destination and foreign tourism companies. The same effect can be achieved by helping tourists who are troubled by border control.

Social implications

First, this research provides suggestions for the government and the tourism industry to deal with such a crisis in the future. Second, this study found that vaccination has a direct impact on tourism. This provides a basis for improving people’s willingness to vaccinate. Thirdly, this study proves suggestion for the destinations to build tourism resilience.

Originality/value

This study analyzes the unique control measures and vaccination in different countries during the pandemic, then provides suggestions for the tourism industry to prepare for the upcoming postpandemic tourism recovery. This study is valuable for improving the economic resilience of tourism destinations. Additionally, it helps to analyze the advantages and disadvantages of different restrain policies around the world.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

Open Access
Article
Publication date: 9 April 2024

Lázaro Florido-Benítez

The purpose of this paper is to analyse the impact of Andalusia’s tourism promotion budgets and the efficiency of its campaigns from 2010 to 2022.

Abstract

Purpose

The purpose of this paper is to analyse the impact of Andalusia’s tourism promotion budgets and the efficiency of its campaigns from 2010 to 2022.

Design/methodology/approach

A mixed-methods approach is used. Tourism promotion budgets from 2010 to 2022 were measured as a supply indicator. Demand indicators (e.g. airport’s passenger arrivals, number of tourists and hotel occupancy rate) are analysed to measure tourism promotion budget impacts on them.

Findings

Tourism promotion budgets are a priority to stimulate tourism demand for Andalusia in times of uncertainly, and promotion campaigns are pivotal to attract and convert potential customers into actual tourists. Moreover, findings reveal that tourism promotion budgets had positive impacts on tourism demand. Whereas tourism promotion campaigns such as “Andalucía wants you back”, “Intensely”, Fitur, World Travel Market, ITB Berlin events and tourism advertising through digital channels have helped to improve tourism demand in Andalusia, ignoring the effects of the COVID-19 pandemic in the year 2020.

Originality/value

This study emphasizes how tourism promotion budgets and promotion campaigns must be constantly monitored by destination marketing organizations to measure the efficiency and effectiveness of assigned economic budgets and its return on investment.

Details

Consumer Behavior in Tourism and Hospitality, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2752-6666

Keywords

1 – 10 of 348