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This study aims to examine the psychological distress experienced by unemployed and furloughed hospitality workers during the COVID-19 crisis and further investigate how this distress affects their career change intentions.

Derived from a sample of 607 unemployed and furloughed hospitality workers during the COVID-19 pandemic, the data for this research are analyzed using structural equation modeling.

This study reveals that unemployed and furloughed hospitality workers are financially strained, depressed, socially isolated and panic-stricken due to the pandemic’s effects. These effects lead to impaired well-being and an increased intention to leave the hospitality industry. Female and younger employees are impacted to a greater extent, while furloughed workers received fewer impacts compared to their laid-off compatriots.

This study suggests that lockdown restrictions need to be implemented more deliberately, and the psychological well-being of the hospitality workforce deserves more immediate and continuing attention. It advises that hospitality businesses consider furloughs over layoffs when workforce reduction measures are necessary to combat the financial crisis.

This study adds to the current literature by examining the impact of the COVID-19 pandemic from the employee perspective. New insights are offered on the psychological toll of workforce reduction strategies during the financial fallout and how these distressing experiences affect career change intention.

Purpose: The purpose of the present study is to synthesize and organize existing literature on contagious diseases and tourism. This systematic mapping of the literature helps to identify various mature and emerging themes around the research domain in the literature.

Design/Methodology/Approach: The study uses systematic methodology along with bibliometric and content analysis. Using a combination of electronic database searching and forward and backward references searching, the study identifies 160 suitable published studies.

Findings: Initial bibliometric analysis reveals that Tourism Geographies and Tourism Management are most influential journals and Law and Lee are most influential authors working on this field. The Hong Kong Polytechnic University and Universiti Sains Malaysia are among the top contributing educational and research organizations. Further, the content analysis reveals that literature on contagious diseases and tourism industry revolves around three prominent themes namely SARS and other contagious diseases, crisis management and tourism forecasting.

Research Limitations/Implications: The study does not consider ‘grey literature’ and conference proceedings.

Originality and Value: Present study is one of the early attempts that analyzes the literature on contagious diseases and tourism using bibliometric analysis and contributes to the literature by identifying various mature and emerging on contagious diseases and tourism literature. These insights provide a robust map for future investigation in this field and also offer implications for practitioners.

The present research aims to examine a range of momentum trading strategies for the tourism and hospitality sector.

The paper followed the methodology of Jegadeesh and Titman (1993) to construct the portfolios. In this methodology, all portfolios were formed and evaluated by their cumulative stock returns over the past J periods and holding the position for the next K periods. In total, nine formation and holding periods were used, represented by 3, 6 and 12. For example, strategy 3–3 (that is, strategy with J = 3 and K = 3) refers to the strategy that stocks are ranked based on their previous three months and then held for the next three months.

The findings demonstrated that none of these momentum investing strategies was profitable. Most of the results, however, show positive, but insignificant momentum returns. This finding can be interpreted as price reversal over a horizon of three to twelve months in the US hospitality and tourism sector. These results are robust to size, different formation and holding combinations, beta and turnover.

Regarding the research limitations, this paper only considers the US tourism and hospitality sector. Therefore, the extension of results to other developed and developing markets should be taken carefully. Also, this paper relies only on the methodology of Jegadeesh and Titman (1993). Other methodologies could be suitable avenues for future research.

Investors and portfolio managers who seek for earning abnormal returns by investing in the US HT stocks can attain their hopes by constructing portfolios based on existing guidelines in the literature and adopting a short-term reversal trading strategy or by buying past losers and selling past winners of the US tourism and hospitality stocks.

This research contributes to the hospitality finance literature by offering the investors who are interested in the US hospitality and tourism sector an uncomplicated trading rule that uses real return data and is expected to generate actual returns. Moreover, the momentum strategy of Jegadeesh and Titman (1993) is never used in the hospitality finance literature.

本研究旨在探討各種可應用於旅遊及酒店業的動量交易策略。

本文按照 Jegadeesh 和 Titman（1993）的研究方法來建造投資組合。使用這研究方法時，所有投資組合均以它們在過去J 時期的累積股票收益和在未來K 時期的持倉來建立及評價的。九個組成方式及持有期被使用，以3、6、12來表示。例如，策略3-3（那就是說，該策略以J = 3和 K = 3）指的策略是以有關的股票基於過去三個月而被分等級，繼而在未來三個月被持有。

研究結果顯示，這些投資策略全沒帶來利潤；唯大部分結果顯示正動能策略報酬，雖報酬是微不足道的。這研究結果或許可理解為在美國酒店及旅遊業為期三至十二個月的價格逆轉。這些結果就規模、不同組成方式和持有組合、beta 和成交量而言是強而有力的。

就研究的局限而言，本文只是考慮美國的酒店及旅遊業；因此，如把研究結果伸延至其它已開發或發展中的市場，則需小心處理。另外，本文只依賴 Jegadeesh 和 Titman（1993）的研究方法，就此，使用其它研究方法會是日後相關研究的適當途徑。

欲透過投資於美國酒店及旅遊股票而尋求賺取異常收益的投資者和投資組合經理可如願以償，方法是基於文獻內現存的準則建造投資組合，以及採用短期的逆轉交易策略，或買入美國酒店及旅遊業過去輸家及賣出過去贏家。

本研究為酒店金融文獻作出貢獻，因研究為對美國酒店及旅遊業有興趣的投資者提供了使用實際收益數據及預期可創造實際回報的簡單交易規則；而且， Jegadeesh 和 Titman（1993）的動量策略從未在酒店金融文獻內被使用過。

This paper reviews and compares the concepts of theory of constraints (TOC) and activity‐based costing (ABC). The primary objective of this study is to investigate the integration of both theories so as to provide management with the capability of making better operations decisions in the presence of diverse activities and committed costs. First, the assumptions of each theory are discussed against traditional cost accounting. Next, based on numerical examples, we discuss the managerial implications of the two theories in various decisions such as pricing, make‐or‐buy and product mix. Numerical results show that both ABC and TOC can provide management with better performance measurement of diverse production activities especially when committed costs are a significant factor. Accordingly, suggestions for integrating the two theories are provided.

This study investigates the Chinese stocks' returns during different epidemic periods to assess their effects on firms' market performance.

The study employs an event study method on more than 3,000 firms listed on Shanghai and Shenzhen stock exchanges during periods of SARS, H5N1, H7N9 and COVID-19

Epidemics' effect on firms' stock returns is persistent up to 10 days after the event dates. Although the impact varies with types and development of the disease, most firms experience a negative impact of the epidemics. Among the epidemics, COVID-19 has the greatest impact, especially when it grows into a pandemic. The epidemics' impact is uneven across industries. In addition, B-shares and stocks listed on Shanghai Stock Exchange are more negatively influenced by the epidemic than A-shares and those listed on Shenzhen Stock Exchange.

The results of the study contribute to the limited literature on the effects of disease outbreaks as an economic shock on firm market performance. Given the possibility of other epidemics in the future, the study provides guidance for investors in designing an appropriate investing strategy to cope with the epidemic shocks to the market.

The research is novel in the way it compares and assesses the economic impact of different epidemics on firms and considers their impact at different development stages.

This study aims to examine the current state of the research activities of scholars in the hospitality and tourism field by analyzing the first 20 years of the new millennium.

Longitudinal analyses using 14,229 journal articles as data source were realized by adopting BibExcel, Gephi and VOSviewer network analysis software packages.

This study provides a comprehensive overview of the hospitality and tourism research based on authorship and social network analysis, with patterns of prolific authors compared over four distinct periods.

The hospitality and tourism academic society is clearly illustrated by tracing academic publication activities across 20 years in the new millennium. In addition, this study provides a guide for scholars to search for multidisciplinary collaboration opportunities. Government agencies and non-governmental organisations can also benefit from this study by identifying appropriate review panel members when making decisions about hospitality- and tourism-related proposals.

To the best of authors’ knowledge, this study is the first to use bibliometric analysis in assessing research published in leading hospitality and tourism journals across the four breakout periods in the new millennium.

This study aims to address how the social structure of the hospitality management field has evolved from 1960 to 2016.

The informal social structure of the hospitality management literature was analyzed by collecting authorship data from seven hospitality management journals. Co-authorship analyses via network analysis were conducted.

According to the findings, throughout the history of hospitality management, international collaboration levels are relatively low. Based on social network analysis, the research community is only loosely connected, and the network of the community does not fit with the small-world network theory. Additional findings indicate that researchers in the hospitality management literature are ranked via degree centrality, closeness centrality and betweenness centrality. Cliques, which contain at least five researchers, and core researchers are identified.

This study helps both scholars and practitioners improve the informal structure of the field. Scholars must generate strong ties to strengthen cross-fertilization in the field; hence, they collaborate with authors who have strong positions in the field. Specifically, this provides a useful performance analysis. To the extent that institutions and individuals are rewarded for publications, this study demonstrates the performance and connectivity of several key researchers in the field. This finding could be interesting to (post)graduate students. Hospitality managers looking for advisors and consultants could benefit from the findings. Additionally, these are beneficial for journal editors, junior researchers and agencies/institutions.

As one of the first study in the field, this research examines the informal social structure of hospitality management literature in seven journals.

The purpose of this research is to survey whether consumer ethnocentrism and animosity will affect consumers' perceived betrayal and cause negative word-of-mouth (NWOM).

This study conducted a 2 (consumer ethnocentrism) × 3 (consumer animosity) between-subject experiment design to test the hypotheses. Comprised of 380 respondents, this study used ANOVA to examine the data.

The results showed that if a brand violates the perception of fairness, ethnocentrism and animosity will have a positive effect on perceived betrayal. In addition, low consumer animosity revealed a significant consumer ethnocentrism effect and low ethnocentrism revealed a significant animosity effect, while the relationship between perceived betrayal and word of mouth is negative.

The current research adds to the understanding about how the reaction to a domestic brand's marketing strategies that are viewed as unfair and hurt the domestic consumers' expectations.

This chapter presents the outcome of a study that examined the phenomena ‘Is Tourism Regulation Catalyst for Abuja Federal Capital Territory (FCT) Nigeria, Hotels Business Performance Innovation?’ Previous studies on this subject area have been largely done around tourism and its impact on hotel business performance and the relationship between tourism regulation and hotel business performance from mostly western perspectives. Hence, this study aims to investigate the direct effect of tourism regulations on hotel business performance in Nigeria. Quantitative survey questionnaires were used to collect data from 176 participants comprising general managers and departmental heads in 22 key Abuja FCT Nigerian hotels. Balanced Scorecard (BSC) developed by Norton and Kaplan was adopted as the study’s theoretical framework. Data collected were analysed using the simple linear regression technique and Statistical Package for the Social Sciences (SPSS) statistical analysis software tool.

The result of the analysis shows that tourism regulation has a significant and positive correlation with Abuja hotel business performances based on the BSC four dimensions of financial, customer, processes and learning and growth. The unique city characteristics of Abuja FCT were also identified as an issue for consideration in future tourism regulation innovation by the regulatory authorities. This study contributes to business performance measurement literature from the Abuja FCT hotels, Nigerian perspective, and sets an agenda for the Nigerian tourism regulators, the Nigeria Tourism Development Corporation (NTDC) charged with diversifying the Nigerian economy revenue through tourism performance innovation. Also, a policy study into city characteristics classification as a way of innovating tourism regulations and hotels business performance is suggested.

The purpose of this study is to focus on examining whether third-party assurance (TPA) and mandatory corporate social responsibility reporting (MCSR) matter in the association between philanthropic giving (PHG) and listed firms’ financial performance.

Using the Indian stock market as a testing ground, the study used interactive regression and panel regression to analyse 80 sustainability-reporting firms with 800 firm-year observations between 2010 and 2019.

The first findings show a positive association between PHG and financial performance (return on assets, ROA and stock price returns, SPR). Also, the study shows that the interactive variable of MCSR and PHG has a mixed association with financial performance. The second findings show a positive and statistically significant association between TPA and SPR. Also, the interactive effect of TPA and PHG has a negative association with return on equity (ROE) and a positive association with SPR. The third findings show a negative association between MCSR and financial performance (ROA and ROE) and a positive association with SPR. However, when a firm combines MCSR and TPA, the outcome is a negative association with ROE. The fourth findings show that MCSR has a positive association with TPA. The study control for any form of heteroscedasticity, serial correlation and endogeneity effects.

Managers, if given a choice, must opt for TPA over MCSR because the βcoefficient is higher in TPA than MCSR in PHG-financial performance nexus.

The study addresses the information asymmetry problem from the application of TPA and MCSR, which is new to an emerging economy context.