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The purpose of this study is to understand the use of social networking sites (SNSs) by hotels. Specifically, drawn upon a resource and capability-based perspective, this study addresses two research questions: (1) the relationship between a hotel’s resources and its use of Twitter and (2) the relationship between the use of Twitter by hotels and their RevPAR.

The research data include the hotel chain scales, Twitter user profiles and Twitter activities of the hotel parent companies in the USA and the hotels’ RevPAR. To more clearly understand the effect of the use of SNSs, the study uses two dimensions: electronic word-of-mouth and customer engagement. The two dimensions of the hotels’ Twitter use are calculated based on the data extracted from their Twitter user profiles and historical tweets. For a practical purpose, a social media index (SMI), which combines electronic word-of-mouth and the customer engagement score, was used to determine the overall level of Twitter use by hotels.

For RQ1, the results indicate there is a positive association between a hotel’s resources and Twitter use. For RQ2, this study shows there is also a positive association between Twitter use by hotels and their RevPAR.

Twitter use appears to be associated with hotels’ resources. In turn, Twitter use is positively associated with hotel RevPAR. Thus, hotels should look at Twitter as a potential strategic tool for business operation and attempt to increase their ability to leverage Twitter (and other SNSs) for organizational goals (e.g. sales, promotion, customer service).

To the authors’ knowledge, this is the first study empirically investigating the use of SNSs by hotels with the data drawn from actual firm-generated content (e.g. tweets, retweets) and hotels’ user profile information from Twitter.

The purpose of this paper is to investigate the effect of consumer sustainability attitudes and quick service restaurants (QSRs) practices along with the willingness of consumers to pay a premium for sustainability efforts.

A random sample of QSR customers in Germany resulted in 428 completed surveys. First, common factor analysis was conducted to assess the summated scales related to the sustainable behavior of customers, the importance attached by them to the different dimensions of sustainability and the extent to which customers perceive that QSR implement such practices. Second, the effect of these summated scales on the willingness to pay a premium (WTPP) for sustainability practices were assessed by means of a logistic regression.

The findings indicated that WTPP for sustainability efforts is primarily driven by internal beliefs and behaviors of consumers themselves rather than actions by QSR firms. Furthermore, when comparing five major QSRs, QSR brands did not appear to create a strong point of differentiation in their sustainability practices in the minds of frequent QSR consumers in the context of this study.

Implications of these results suggest that a growing number of consumers place high importance on sustainability and engage in personal sustainability practices that impact behaviors such as QSR selection and a WTPP for QSR brands and products that are perceived as implementing sustainable practices.

This paper addresses a gap by assessing drivers of willingness of QSR customers to pay a premium for sustainable practices and if QSR brands sustainability practices differ in the minds of consumers.

The study aims to investigate the adoption of green certification programs by restaurants. More specifically, this study has three objectives: to examine the relationships between green certification program scores and customers’ perceptions, duration of green certification and green brand image and food-focused green practices and green brand image.

The authors collected 25,098 TripAdvisor reviews, along with associated patron demographics, for 70 green certified restaurants. To investigate the hypotheses, the authors first used structural topic modeling to discover latent themes relevant to green restaurant practices. Thereafter, the authors used factorial Multivariate analysis of covariance (MANCOVA) to examine the association between formal certification participation and customers’ green perceptions.

The results showed that customers were more likely to perceive a green restaurant image after visiting green certified restaurants with higher certification ratings and green certification periods of longer duration.

The current study contributes to the literature in several ways. First, this study uses post-visit online reviews written by customers of certified green restaurants to understand customers’ natural responses more precisely. Second, the study captures the degree of green commitment by applying information about formal certification programs, where other studies have relied on hypothetical scenarios or survey questions to examine the impact of green attributes on customer perceptions.

To the best of authors’ knowledge, this is the first study to investigate the adoption of green certification programs by restaurants empirically with data drawn from actual user-generated content (i.e. TripAdvisor).

The authors aim to understand the driving forces behind the idiosyncratic volatility puzzle in the Korean stock market. The authors study the Korean stock market because previous works report a strong idiosyncratic volatility puzzle in Korea, and the market for the exchange-traded funds (ETFs) including low volatility ETFs has experienced drastic growth in Korea.

Using common stocks listed either on KOSPI or KOSDAQ over the period 1997–2016, the authors estimate idiosyncratic volatility using the Fama–French three-factor model. In addition, based on prior literature, the authors use turnover as a proxy for overvaluation. The authors then study the role of turnover in understanding the idiosyncratic volatility puzzle in Korea.

The authors find that turnover is highly associated with idiosyncratic volatility. Turnover is extremely large among firms with high idiosyncratic volatility and the puzzle disappears after we control for turnover, meaning that turnover subsumes the explanatory power of idiosyncratic volatility for equity returns. The authors also find underperformance of stocks with high turnover and high idiosyncratic volatility exclusively during earnings announcement periods. Overall, our finding implies that the puzzle arises since high idiosyncratic volatility stocks due to high turnover are overvalued and experience correction afterwards.

Literature has suggested explanations based on lottery preferences of investors and market frictions behind the idiosyncratic volatility puzzle. What makes our study distinct from previous work is that we find the role of turnover in understanding the idiosyncratic volatility puzzle using turnover measure as a proxy for overvaluation in the Korean stock market.