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The purpose of this paper is to provide new insights about investment-cash flow sensitivities (ICFS) as a representative of financial constraints, by examining panel data consisting of 288 listed firms in Pakistan.

This study uses a panel data methodology and first difference generalized method of moments to control the problems of heterogeneity and endogeneity. By five different criteria, estimations are made for full and pre-classified sub-samples. Sargan test and Arellano-Bond serial correlation statistic are used for identification and validation of instruments and model.

According to the results, the ICFS has increased monotonically with the level of financial constraints. Further, the results depict that ICFS for the constrained group is much higher as compared to the unconstrained group. Overall, the result illustrates positively significant ICFS.

This study confirms signs of imperfections in the capital market, which leads to financial markets inaccessibility preceded by high under-investment costs and low social and economic development. Thus, proper policy designing and instigation are necessary for the subsidies, taxation, and foreign direct investment and later for financial market development and promotion of private corporate investment.

Previous studies have mostly focused on developed countries where large listed companies work in well-developed financial markets and do not face severe financial constraints because of the greater market integration (Bekaert et al., 2011, 2013) and superior investor protection laws (Djankov et al., 2008; La porta et al., 1998). However, this study focuses on listed companies from the emerging Pakistani market, which will bring forth the interesting aspects of ICFS and will enhance the existing literature effectively.

There has recently been much interest in analysing the creation of personalised tourism services and studying their effect on organisations. However, there still needs to be more work in analysing their effect on happiness and the role that emotions play in these processes. This paper aims to analyse, in the context of personalised and innovative tourism services, which factors can encourage and improve managers' happiness.

A model of analysis is presented with five variables: tourism managers' happiness (TMH), innovative personalised tourism services, internal factors: emotions (IFE), organisational factors (OF) and personal factors (PF). Eight hypotheses are proposed and tested with a structural equation model.

The results allow the authors to affirm that personalised technological advances applied to tourism services not only contribute to improving the happiness of hotel managers but also in generating emotions that contribute to improving their attitude towards the company.

This scientific work has some limitations. Firstly, this study was carried out exclusively in Spain due to the relevance of this country in the international tourism sector, according to the World Tourism Organisation. The results achieved in this research should be contrasted with other studies in other territories. Secondly, the interviews and surveys were carried out at specific time intervals. It has not led to problems of significant bias in the variance of the standard method. Therefore, it is desirable to undertake longitudinal or cross-sectional studies for future research. Thirdly, it is interesting to develop theoretical models that include other psycho-directive or leadership style constructs to determine whether they holistically enhance the subjective well-being of hospitality managers. Moreover, other types of factors of a social or strategic nature can be considered, which can positively or negatively impact the analysed variables. Finally, future research can deepen the empirical analysis of the relationship between managerial competencies and digital innovation from the perspective of happiness management. These findings would contribute to a greater cognitive understanding of the implications of personalised and innovative tourism services on hotel establishments' happiness and economic benefits.

This paper shows the fundamental role of a happy leadership style in creating responsible, green and innovative environments in today's digital society. Furthermore, the happiness of tourism managers can contribute to the generation of high quality and excellent services that are in line with the principles of sustainable development.

Personalised technological advances applied to tourism services not only contribute to improving the happiness of hotel managers but also to generating emotions that contribute to improving their attitude towards the company. On the other hand, it has been observed that personalised and innovative tourism services generate positive effects at organisational, internal and personal levels. The following reflections are advanced: The development of internal factors such as the emotions of awe and gratitude or the generation of trust can enhance the happiness of tourism managers. The happiness of tourism business managers can be enhanced by developing OF such as smart-personalised tourism services and data protection. The happiness of tourism managers can be enhanced by the development of PF such as travellers' desires, expectations and needs, or other factors such as disposable income, health status or family situation.

This is the first empirical study that focuses on investigating how personalised and innovative tourism services affect managing happiness.

Using self-determination theory as the theoretical framework, the study examines the role of workplace spirituality in motivating internal whistleblowing in an organization and whether it gets enhanced by ethical leadership and moral courage of an employee.

The study was administered to 312 employees belonging to the hotel industry in north India. A three-waves study with a gap of one month each was used for data collection. The study used AMOS and PROCESS Macro to examine the hypothesized relationship.

The study found a positive association between workplace spirituality and internal whistleblowing, and a parallel mediating impact of employee’s moral courage and ethical leadership on workplace spirituality and internal whistleblowing relationship.

The work suggests that by recognizing and enforcing the motivating factors that encourage an employee to blow the whistle and reveal illegal, immoral or illegitimate organizational practices, an organization may be able to maintain an ethical stance and create a positive image of itself.

The unique contributions of this study include determining the role of workplace spirituality in supporting internal whistleblowing, especially in the Indian context. Keeping in view the huge losses incurred by hospitality sector during pandemic, internal whistleblowing by employees will create a positive image for the organizations and help in revival.

The purpose of this study is to provide an overview of the research conducted on hospitality and tourism articles published in Q1 category journals from 1990 to 2023. This study also aims to measure the topic prevalence in selected journals throughout the years, their change over time and similarities of journals.

Latent dirichlet allocation algorithm is used as a topic modeling method to identify and analyze topics in hospitality and tourism research over the past 30 years.

The results of the study indicate that hospitality and tourism research has recently focused on topics such as employee behavior, customer satisfaction, online reviews, medical tourism and tourist experience. However, the results also indicate a negative trend in topics such as hotel management, sustainability, profession, economic growth and tourist destination.

This study can be used to examine the evolution of research patterns over time, find hot and cold themes and uncover untapped or understudied areas. This can aid academics in their investigations and practitioners in making sound strategic decisions.

This study contributes to the existing literature by providing a new approach and comprehensive analysis of hospitality and tourism research topics. It delineates an overview of the progression of hospitality and tourism research over the past 30 years, identifies the trending topics and explores the potential impacts that these identified topics may have on future studies.