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Open Access
Article
Publication date: 31 August 2023

Tamanna Dalwai

This study examines the influence of economic policy uncertainty on financial flexibility before and during the coronavirus disease 2019 (COVID-19) pandemic. Few prior studies…

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Abstract

Purpose

This study examines the influence of economic policy uncertainty on financial flexibility before and during the coronavirus disease 2019 (COVID-19) pandemic. Few prior studies have examined this association specifically for debt and cash flexibility.

Design/methodology/approach

Using quarterly data from 2016 to 2022, 1014 observations were collected from the S&P Capital IQ database for listed tourism companies in India. The pre-pandemic period is defined as 2016 Q1 to 2020 Q1, whereas the pandemic period is from 2020 Q2 to 2022 Q3. The data are analysed using ordinary least squares, probit, logit and difference-in-difference (DID) estimation.

Findings

The evidence of this study suggests a negative association of economic policy uncertainty with debt flexibility during the COVID-19 pandemic. The findings also suggest that COVID-19 induced economic policy uncertainty results in high cash flexibility. This meets the expectations for the crisis period, as firms are likely to hold more cash and less debt capacity to manage their operations. The results are robust for various estimation techniques.

Research limitations/implications

This study is limited to one emerging country and is specific to one non-financial sector. Future research could extend to more emerging countries and include other non-financial sector companies.

Practical implications

The findings of this research are useful for tourism sector managers as they can effectively manage their cash and debt flexibility during crisis periods. They will need to prioritise cash flexibility over debt flexibility to manage operations effectively. Policymakers need to provide clear and stable economic policies to help firms manage their debt levels during a crisis.

Originality/value

To the best of the author's knowledge, no existing studies have investigated the influence of economic policy uncertainty on the financial flexibility of tourism companies before and during the COVID-19 pandemic. Furthermore, this study establishes a novel set of critical determinants, such as economic policy uncertainty.

Details

Journal of Asian Business and Economic Studies, vol. 30 no. 4
Type: Research Article
ISSN: 2515-964X

Keywords

Open Access
Article
Publication date: 2 May 2023

Imtiyaz Ahmad Shah

The present study aims to examine the moderating impact of governance quality on the tourism poverty nexus using a panel of six South Asian Association for Regional Cooperation…

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Abstract

Purpose

The present study aims to examine the moderating impact of governance quality on the tourism poverty nexus using a panel of six South Asian Association for Regional Cooperation (SAARC) countries during the period 2002 to 2019.

Design/methodology/approach

For the soundness of the results, fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) econometric models were applied to determine the long-run relationship.

Findings

The findings confirmed the positive and significant impact of tourism development (international tourism arrival) and governance quality (effectiveness of governmental services) on poverty (per capita household consumption) reduction. Interestingly results confirm that governance quality and tourism development have complementary impacts on poverty reduction.

Originality/value

The present study has twofold contributions; First, despite the high potential of SAARC tourism, research remains limited in studies examining the role of tourism and governance quality on poverty reduction within the SAARC region. As a result, the present paper presents critical insights into the impact of tourism inflow and governance quality on poverty reduction in South Asian countries. Second, to the best of the author's knowledge, this is the first attempt to conduct an econometric analysis to examine the role of governance quality on the relationship between tourism inflow and poverty reduction in SAARC countries.

Details

Journal of Tourism Futures, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2055-5911

Keywords

Open Access
Article
Publication date: 31 May 2023

Valeria Posadas, Juan Gabriel Brida and María José Alonsopérez

This paper develops a theoretical model that analyzes the decision problem the landowner has to face between the construction of second homes and hotels. The starting point…

Abstract

Purpose

This paper develops a theoretical model that analyzes the decision problem the landowner has to face between the construction of second homes and hotels. The starting point implies verifying that for a given tourist destination, the land available for the construction of accommodation is limited. For this reason, when choosing between building second homes or building hotels, many factors influence the decision model. The theoretical mechanism generalizes the model introduced in Brida and Boffa (2010) and is based on a four-stage sequential game with four players. From the results of the model, the authors conclude that it is optimal from the social point of view both to build a hotel and to build a second home because both generate added value during the year. For this reason, the construction of second homes should be taken into account in the planning policy of the tourist destination. This arises from considering that second homes, as they remain occupied all year like hotels, in certain tourist destinations, do not generate seasonality.

Details

Tourism Critiques: Practice and Theory, vol. 4 no. 1/2
Type: Research Article
ISSN: 2633-1225

Keywords

Open Access
Article
Publication date: 2 November 2022

Panayiotis Tzeremes

The study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017.

Abstract

Purpose

The study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017.

Design/methodology/approach

Using the extension of the Granger noncausality test in the nonlinear time-varying of Ajmi et al. (2015), the study points out the interconnectedness between the variables during the period.

Findings

The study found nonlinear causality between the variables. Particularly, studying the conclusions for the time-varying Granger causality fashion, it can be noticed that the one-way causality from total factor productivity to tourism growth is obtained for Argentina, Bolivia, Brazil, Uruguay and Venezuela, while the vice versa is confirmed for Chile, Ecuador and Nicaragua. Lastly, the study dissected the plots of the curve causality.

Practical implications

In view of the results, some crucial policy implications could be suggested, such as, under certain circumstances and as an exceptional case, the use of policy instruments such as targeted investment, marketing and the support of tourism organizations focused on driving a tourism-led-based productivity and/or tourism programs and projects.

Originality/value

The current work is distinguished from the existing body of understanding in several substantial directions. This work explores, for the first time, the linkages between the total factor productivity index and tourism growth for Latin American countries. No single attempt has been known to investigate this interaction by using nonlinear causality, and this study determines the shape of the curve between the total factor productivity index and tourism growth for each country.

Details

Journal of Economics, Finance and Administrative Science, vol. 27 no. 54
Type: Research Article
ISSN: 2218-0648

Keywords

Open Access
Article
Publication date: 17 December 2019

Van-Anh T. Truong

Danang – a heritage gateway, a socioeconomic urban of Central Vietnam – has been known as a livable city, a fantastic destination and a leading position in the Provincial…

2836

Abstract

Purpose

Danang – a heritage gateway, a socioeconomic urban of Central Vietnam – has been known as a livable city, a fantastic destination and a leading position in the Provincial Competitive Index. Since branding Danang appears to be unfocused, it is suggested that the city follow a strategy to meet the shared expectations of stakeholders instead of trying to create separate images toward different audiences. The paper aims to discuss these issues.

Design/methodology/approach

Therefore, this study selects the bottom-up approach from the viewpoint of Danang students whose requirement is consistent with those of investors, citizens and tourists.

Findings

The finding represents the initial associations of students about Danang as a livable, friendly, dynamic, modern coastal city of tourism and development with many opportunities, potential, attraction, integration and hometown feel. These salient images are exceeded from city characteristics, such as natural endowment, leisure places, beautiful scenes, diverse cuisine, peaceful, suitable living environment, orderly traffic, infrastructure and local people. Besides, crowded caused by development and population growth leads to an unpleasant feeling about narrow spaces but can be overwhelmed by the bustle. Although the result shows the success of Danang in communication, it also figures out the loss of the livable image in local students’ minds.

Practical implications

Hence, Danang must boost the positive effects of tourism development and limit its negative side. University–city cooperation through co-branding strategies can be considered a solution.

Originality/value

The study contributes not only to branding Danang but also to the literature because this is the first complete application of the Zaltman metaphor elicitation technique in city branding.

Details

Journal of Asian Business and Economic Studies, vol. 27 no. 2
Type: Research Article
ISSN: 2515-964X

Keywords

Open Access
Article
Publication date: 17 June 2022

Oluseye Olugboyega and Abimbola Windapo

BIM research to date has in general zeroed in on featuring the significance of BIM-enabled integration and collaboration (BIMIC) rather than giving exact proof of its occurrence…

Abstract

Purpose

BIM research to date has in general zeroed in on featuring the significance of BIM-enabled integration and collaboration (BIMIC) rather than giving exact proof of its occurrence. Accordingly, this research quantitatively explored the determinants of BIMIC in South Africa.

Design/methodology/approach

This research conceptualized a four-pillar model of BIM-enabled integration and collaboration. The speculations in the model were examined using SEM-MLE.

Findings

The aftereffects of the SEM-MLE demonstrated that network communication, knowledge sharing, and transfer, information sharing and exchange and trust-based relationships are critical determinants of BIMIC. The model's prescient power demonstrates an acceptable validity, and the boundary gauges showed that all the hypotheses were measurably huge.

Research limitations/implications

This research gives a hypothetical premise for further investigation of BIMIC by supporting the postulations on the occurrence of collaboration and integrations among the BIM-SCM.

Practical implications

The idea investigated involving SEM in this research gives a holistic view to the BIM managers in arranging BIM-based activities and overseeing BIM cycles and supply chain members. It likewise offers rules and structures for accomplishing and overseeing integration and collaboration among the BIM supply chain members.

Originality/value

Despite 20 years of exploration on the BIM concept and adoption, no idea has been given to clarify the determinants of integration and collaboration as a BIM cycle. The four-pillar model of BIMIC created and tested in this research clarified BIMIC and contributed a new model to the current literature on the BIM process.

Details

Frontiers in Engineering and Built Environment, vol. 2 no. 3
Type: Research Article
ISSN: 2634-2499

Keywords

Open Access
Article
Publication date: 3 April 2017

Rizki Novanda Ridha, Burhanuddin and Budi Priyatna Wahyu

This paper aims to discuss Indonesia as a country having a young generation resource crisis in agricultural sectors, and this crisis contributes more than 32.9 per cent higher…

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Abstract

Purpose

This paper aims to discuss Indonesia as a country having a young generation resource crisis in agricultural sectors, and this crisis contributes more than 32.9 per cent higher unemployment than other sectors. Therefore, creative youths are needed to build the sector through entrepreneurship activities.

Design/methodology/approach

The low condition of youth entrepreneurship intention in agricultural sectors leading the Agriculture Ministry of Indonesia launches an Agricultural Young Entrepreneurship Growing Program 2016 (Program Penumbuhan Wirausaha Muda Pertanian, PWMP 2016). Intention in growing phase is critical to avoid the program failure.

Findings

This research was aimed to analyze entrepreneurship characteristics and factors affecting the intentions. The research was conducted in three cities, Bogor, Lampung and Bandung, with 189 respondents who accepted business support from the PWMP in 2016. The accumulated data were then analyzed using descriptive analysis and structural equation model. Respondents have highly average trends on behavior belief, normative belief, motivation to comply, control belief, control belief power and intention. While, only the evaluation of the consequence to give the medium trend is about 50.26 per cent.

Originality/value

Factor affects to the entrepreneurship intention in agricultural sectors is a subjective norm or external factor, and both the attitude toward behavior and perceived behavioral control factors do not affect entrepreneurship intention in the agricultural sector.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 11 no. 1
Type: Research Article
ISSN: 2071-1395

Keywords

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