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This paper aims to propose and investigate the relationships among the components of brand equity, and examining the effects of these components on overall destination brand equity in Hoi An tourism destination, Vietnam, from the perspective of domestic tourists.

Questionnaire data were collected from 319 domestic tourists who have visited Hoi An city. The results of empirical tests using a structural equation model support the research hypotheses.

The results indicate that destination brand awareness has significant, positive effects on destination brand image and destination perceived quality; destination brand image has positive influences on destination perceived quality and destination brand loyalty; destination perceived quality has significant, positive impacts on destination brand loyalty; except for destination brand image, the remaining dimensions have positive and direct impacts on overall destination brand equity.

An integrated model of destination brand equity dimensions and overall destination brand equity was tested in a tourism city in the context of a developing economy. Moreover, relevant implications are provided for destination marketers as to how to improve destination brand equity in the tourism industry.

This paper aims to examine the role of social media communication, tourist satisfaction and destination brand equity components in enhancing destination brand equity based on the Stimulus – Organism – Response (S-O-R) theory.

The conceptual model and research hypotheses were assessed using covariance-based structural equation modeling (SEM). An online survey was used to collect data from 369 domestic tourists who had traveled to Danang and knew about content related to Danang generated by either DMOs or other users on social media.

Except for the effect of DMO-generated social media communication on tourist satisfaction and the impact of destination brand awareness on destination brand loyalty, the findings confirmed the sequential causal relationships between research concepts based on the S-O-R model.

Future research should explore the proposed model based on comparisons of different nationalities to better understand the impact of cultural factors.

DMOs should associate social media with their marketing strategies to enhance destination brand equity, using cutting-edge technologies to create content and update information in a significant way to make communications by DMOs more effective. The findings especially suggest that UGC plays a vital role in improving brand equity dimensions, so DMOs could exploit UGC to engage existing customers and build relationships with potential customers. This research provides guidance for DMOs to improve their brand equity based on social media.

This study has contributed to the destination marketing literature by applying the S-O-R theory to propose a pathway for effectively increasing destination brand equity and highlight the importance of social media communication as a driver to achieve a hierarchical relationship between destination brand equity components and tourist satisfaction from stimulus to organism (e.g. cognition to affect).

This paper aims to examine the relationships between brand equity, customer satisfaction and cultural distance for a tourism destination. The mediating role of customer satisfaction and the moderating effect of cultural distance in these relationships are assessed.

The direct–indirect–moderating relationships were assessed by applying covariance-based SEM (CB-SEM), mediating and multi-group analysis. A paper survey was used to collect data from 618 tourists (domestic and international tourists) visiting a destination in Vietnam.

The findings support direct positive links between the dimensions of brand equity and customer satisfaction, except for the effect of destination brand awareness on destination brand loyalty. This work further demonstrates the mediating effect of customer satisfaction on the indirect relationships between the dimensions of brand equity. Cultural distance was found to moderate the connections between the research concepts.

Future research should explore the model’s relationships based on comparisons in different destinations, to better understand the impact of cultural factors.

This study identifies specific factors to increase branding efficiency by developing and testing the relationship between brand equity and customer satisfaction. Using moderating variables through the lens of cultural distance, it proposes a mediated model. This work contributes to practice by informing destination managers on how to improve brand equity and satisfaction based on the cultural characteristics of international and domestic visitors.

This study aims to identify how perceived destination social responsibility (DSR) drives destination brand loyalty through a jointly and independently mediated mechanism of cognitive and affective components (e.g. tourist-destination identification, cognitive image, affective image and tourist satisfaction) and to examine the moderating role of individual-level collectivist values in linking perceived DSR and tourist behaviors.

An online survey is conducted to collect the data of 351 domestic tourists visiting an urban tourism destination (e.g. Danang City) in Vietnam. A serial multiple mediation model and moderation model were examined by applying covariance-based structural equation modeling.

This research’s results highlight the leading factors of perceived DSR in the process of forming destination brand loyalty and confirm the vital role of the intermediary mechanism of tourists' cognition and affect during this process. The chain of causal relationships DSR → TDI → CI → AI → TS → DBL confirms the role of perceived DSR as an essential prerequisite factor of DBL, creating a close connection to tourists' cognition and affect and contributing to improving destination brand loyalty. Individual-level collectivist values were found to positively moderate the links between perceived DSR and tourist-destination identification, affective image and destination brand loyalty.

Future research would provide insights into the links between perceived DSR and tourist behaviors by considering moderating variables (e.g. cultural distance and tourist types) and uncovering specific insights into each destination stakeholder's DSR activities.

A new integrated model of destination brand loyalty development is proposed to explore a new path for destination brand loyalty formation through cognitive, affective and cognitive-affective pathways. This moderating stream of examining individual-level collectivist values can make a significant contribution to the extant tourism literature by promoting a more positive tourist perception of DSR, thereby increasing tourists' knowledge, beliefs and emotions and enhancing destination brand loyalty.

This study aims to examine the direct and indirect relationship between self-congruity and destination brand loyalty (DBL) based on the conceptual linkages of cognition, affect and conation. A multiple-step, multiple mediator model is investigated to explain the indirect effect of self-congruity on DBL through perceived destination quality (PDQ) and tourist satisfaction (TS). The moderating impact of visit frequency in these relationships is also proposed and empirically evaluated.

The conceptual model and research hypotheses were assessed by applying covariance-based structural equation modeling (SEM), mediating and multi-group analysis. An online survey was used to collect data from 347 domestic tourists visiting a destination in Vietnam.

The results support the link from self-congruity to PDQ, TS and then to DBL. Visit frequency was found to moderate the links between the research concepts.

Future research would benefit from considering other self-congruity components (e.g. social self-congruity and ideal social self-congruity) and moderating variables (e.g. cultural distance). This would provide insights into the relationships between self-congruity and tourist behaviors and could be based on comparisons in different destinations to achieve more wide-ranging results.

The effect of self-congruity on DBL that evolves from linking self-congruity to PDQ and TS to increase DBL was examined within a tourism destination context. This study is valuable to destination managers as it provides suggestions to improve DBL.

这项研究旨在基于认知、影响和意图的概念链路, 并检验自洽性和目的地品牌忠诚度之间的直接和间接关系。研究了一个多步骤、多媒介模型之后, 该模型通过感知的目的地质量和游客的满意度来解释自洽性对目的地品牌忠诚度的间接影响。在这些关系中, 游览频率的调节作用也被提出并通过经验评估。

应用基于协方差的SEM（CB-SEM), 中介和多群组分析对概念模型以及研究假设进行了评估。一项在线调查被用来收集来自347个游览越南目的地的国内游客的数据。

结果显示从自洽性到感知的目的地质量, 然后是游客满意度, 最后是目的地品牌忠诚度的链接。从此发现游览频率可以缓和研究概念之间的关系。

未来的研究将通过考虑其他自洽性组成的要素（例如：社会自洽性和理想的社会自洽性）以及自洽性和游客关系之间的其他调节变量（例如：文化距离）而受益, 基于在不同目的地进行比较的行为, 以获得更广泛的结果。

在旅游目的地背景下, 研究了自洽性对目的地品牌忠诚度的影响, 这种影响从链路自洽性与感知到的目的地质量和游客满意度联系起来, 从而, 提高了目的地品牌忠诚度。 这项工作对目的地管理者而言是有价值的, 因为该工作可提供有关提高目的地品牌忠诚度的建议。

关键词 自洽性, 感知的目的地质量, 游客满意度, 目的地品牌忠诚度, sem, 中介分析, 多群组分析

文章类型： 研究型论文

Vinculación de la autocongruencia, la calidad percibida y la satisfacción con la lealtad a la marca en un destino turístico: El papel moderador de la frecuencia de visita

Este estudio tiene como objetivo examinar la relación directa e indirecta entre la autocongruencia y la lealtad a la marca del destino basado en los vínculos conceptuales de cognición, afecto y conación. Se investiga un modelo de múltiples pasos y múltiples mediadores para explicar el efecto indirecto de la autocongruencia en la lealtad a la marca del destino a través de la calidad percibida del destino y la satisfacción del turista. El impacto moderador de la frecuencia de visita en estas relaciones también se propone y evalúa empíricamente.

El modelo conceptual y las hipótesis de investigación se evaluaron a través de la aplicación de SEM basado en covarianza (CB-SEM), mediación y análisis multigrupo. Se utilizó una encuesta en línea para recopilar datos de 347 turistas nacionales que visitaban un destino en Vietnam.

Los resultados respaldan el vínculo entre la autocongruencia y la calidad percibida del destino, la satisfacción del turista y luego a la lealtad a la marca del destino. Se encuentra que la frecuencia de visita modera los vínculos entre los conceptos de investigación.

Las investigaciones futuras se beneficiarían de considerar otros componentes de la autocongruencia (por ejemplo, la autocongruencia social y la autocongruencia social ideal) y otras variables moderadoras (por ejemplo, la distancia cultural) entre la relación de la autocongruencia y los comportamientos del turista basado en comparación en diferentes destinos para lograr resultados más amplios.

El efecto de la autocongruencia en la lealtad a la marca del destino que evoluciona desde la vinculación de la autocongruencia con la calidad percibida del destino y la satisfacción del turista para aumentar la lealtad a la marca del destino se examina en el contexto del destino turístico. Este trabajo es valioso para los administradores del destino, ya que brinda consejos para mejorar la lealtad a la marca del destino.

Autocongruencia, Calidad percibida del destino, Satisfacción del turista, Lealtad de la marca de destino, structural equation modeling (SEM), Análisis de mediación, Análisis multigrupo

From a consumer–brand relationship (CBR) perspective, this study proposes a serial multiple mediation model to explore the pathways (e.g. cognitive, affective and hybrid) to increase online celebrity brand equity (OCBE) and follower's hotel booking intentions (FBI).

Paper-based and online surveys were used to collect data from 443 respondents who had been using TikTok and had followed at least one online celebrity on TikTok, while that online celebrity had reviewed one or more types of accommodation. A serial multiple mediation model was evaluated through covariance-based structural equation modeling.

The results confirmed the hybrid cognitive–affective and cognitive–affective–conative pathways among antecedents and components of OCBE and FBI.

From a CBR perspective, this study provides a serial multiple mediation model to increase OCBE via hybrid cognitive–affective pathways and to drive FBI via cognitive–affective–conative pathways. These sequential relationships contribute to the human branding literature by defining a mechanism of how online celebrities can efficiently attract followers, thus driving online celebrity brand loyalty and hotel booking intentions.

The results should be validated in other cultural contexts to generalize findings and broaden the range of target respondents to include international followers and those within other nations.

This paper aims to examine the effects of gender and visit frequency as moderating variables on the relationships among destination perceived quality, tourist satisfaction and word-of-mouth (WOM).

This study incorporated several previous research models to propose a conceptual model that fully explains the relationships among destination perceived quality, tourist satisfaction, visit frequency and WOM. One important thing to consider is whether gender and visit frequency impact on the relationships among these factors. In addition, this study was able to generate measurement items for the dimensions by analyzing specific tourism conditions in Danang City and referring to the scales of these factors in previous studies. Quantitative research was conducted to test the scales of the research model and hypotheses through data collected from 303 domestic tourists.

Structural equation modeling and a multi-group analysis were used to test the hypotheses and the invariance of structural coefficients across groups. The results indicate that destination perceived quality has significant, positive and direct effect on tourist satisfaction; WOM is positively influenced by destination perceived quality and tourist satisfaction; and there is significant relationship between visit frequency and WOM. In particular, when exploring the impact of moderating variables such as gender and visit frequency, this study also found that the impacts of destination perceived quality on WOM are different between genders, and this impact is stronger for female rather than male tourists; and the effect of destination perceived quality on tourist satisfaction is stronger for the first visit than for later visits.

This paper is limited in its ability to gather a larger sample to more generally represent the complete domestic market, as well as in its lack of a comparison of online versus offline WOM effects by gender.

This paper was conducted to have a better understanding of how tourist demographic characteristics such as gender and visit frequency are important contributors that influence the relationships among these three factors. This paper has important implications for marketers and managers of Danang, such as local tourism authorities, commercial association managers, hotel owners, restaurant owners and tour managers working to improve the quality of this destination, and thus better satisfying tourists and competing with other destinations.

This paper investigates how the global financial crisis changes the effects of state ownership and foreign ownership on corporate cash holdings in an emerging market.

We employ an interactive term between state ownership (foreign ownership) and a crisis dummy to analyze how the global financial crisis determines the effect of state ownership (foreign ownership) on corporate cash holdings.

With a research sample including 5,493 observations from 621 listed firms over the period 2007–2017, we find that state ownership (foreign ownership) is negatively (positively) related to corporate cash holdings and the effect of state ownership (foreign ownership) is stronger (weaker) during the crisis period. Moreover, the increase in the effect of state ownership is larger in financially unconstrained firms.

Prior research shows that the effects of state ownership and foreign ownership on corporate cash holdings in emerging markets are still debatable. This paper extends this line of research by investigating how the global financial crisis – an exogenous shock – changes these effects.

The purpose of this paper is to examine whether independent directors reduce corporate overinvestment and improve investment efficiency in an emerging market.

First, the author developed a research model in which corporate investment is a function of Tobin’s Q, the proportion of independent directors in the board and an interaction between them. Second, the author divided the full sample into groups of firms with a low- and high-financial constraint to compare the effects of independent directors between financially unconstrained and constrained firms.

With a full sample of 1,281 observations collected from 193 firms listed in Ho Chi Minh Stock Exchange during the period from 2009 to 2017, the author find that the proportion of independent directors is negatively related to firm investment but its interactive term with Tobin’s Q is positively related to corporate investment. These findings imply that independent directors can help firms reduce overinvestment and improve investment efficiency. Moreover, the research findings indicate that these effects of independent directors are stronger for financially constrained firms.

The extant literature shows that independent directors are an effective mechanism to reduce agency problems in firm decisions and operating performance. However, there has been no research on the role of independent directors in corporate investment policy.

The paper investigates the effect of corruption on corporate investment efficiency around the world.

The sample includes 218,350 observations from 30,074 firms across 42 countries. The authors measure corruption based on the Corruption Perception Index (CPI) from Transparency International, Corruption Control Index (CCI) from the World Bank and Corruption Index from the International Country Risk Guide.

The authors find that corruption is negatively related to investment efficiency. The robustness checks with different measures of corporate investment and alternative regression approaches show consistent findings. Moreover, the authors also find that the effect of corruption is stronger (weaker) in strong (weak) shareholder protection countries.

The paper has two important contributions to the literature. First, it shows that corruption environment is also a determinant of corporate investment efficiency. Second, legal protection of shareholders can mitigate the negative effect of corruption on corporate investment efficiency.

本研究擬探討世界各地貪污腐敗對企業投資效率的影響。

研究樣本涵蓋42個國家，30,074間公司，218,350個觀察。測量貪污腐敗的方法乃基於國際透明組織的腐敗感知指數、世界銀行的腐敗控制指數和國際國家風險指南的貪污指數。

研究結果顯示、貪污與投資效率成負相關。以企業投資的各種測量方法、以及用其他的回歸分析方法來進行的強度檢驗，均顯示一致的結果。而且，我們亦發現，在對股東的保障較大的國家，貪污所帶來的影響也會較大；同樣地、對股東的保障較小的國家，貪污的影響也相應會較輕微。

本研究對文獻有兩個重要的貢獻。首先，研究證明了貪污腐敗的環境亦是企業投資效率的決定因素；其次，研究亦證明給股東的法律保護會減低貪污對企業投資效率所帶來的負面影響。