Deterrents of tourism business crowdfunding: Aversion decision and aversion behavior

Crowdfunding has been recently suggested as an effective means for tourism business founders to gain financial support. Yet, few business founders in tourism have employed the method to fund their business creation and development. Using the behavioral decision model in complex and uncertain business situations, this qualitative study explored the deterrents to crowdfunding adoption and the factors that shape the perception of the deterrents in tourism business founders. The data collected by in-depth and face-to-face semi-structured interviews with 22 informants. Our findings revealed a combination of perceived personal, social and contextual deterrents that avert crowdfunding adoption decision and actual behavior. More specifically, our analysis explored attitude towards crowdfunding, perceived control over using crowdfunding, social norms and perceived contextual feasibility of crowdfunding as the determinants of crowdfunding aversion decision and aversion behavior. This study contributes deeper insights into tourism business financial management and crowdfunding policy, theory, practice and research development.     

Determinants of corporate cash-holding levels: An empirical examination of the restaurant industry

This study examines the determinants of cash-holding levels for restaurant firms. After examining a panel data set obtained from 125 publicly traded US restaurant firms between 1997 and 2008, the study provides evidence that restaurant firms with greater investment opportunities tend to hold more cash. At the same time, large restaurant firms, firms holding liquid assets other than cash, firms with higher capital expenditures, and firms paying dividends were shown to hold less cash. The results are generally supportive of the trade-off theory of cash holdings. In particular, both precautionary and transaction motives play important roles in explaining the determinants of cash holdings for restaurant firms.     

The determinants of more responsible restaurant food choice in Poland

In the context of emerging markets, restaurant food choice needs to be better architected in order to minimise the negative societal and environmental implications. For effective consumer choice architecture, the determinants of restaurant food choice need to be first established. This study explores the determinants of restaurant food choice in Poland, a transitional economy in East-Central Europe with a rapidly growing pattern of out-of-home food consumption. It finds that the low level of public environmental awareness in Poland translates into low consumer recognition of the environmental implications of restaurant food choice. Although customer preference for locally produced and organic food is recorded, this preference is not associated with public environmental awareness, but attributed to possible media effect. In contrast, the level of public awareness of the health repercussions of restaurant food choice is higher in Poland, especially among younger consumers, which is reflected in the desire to see the nutritional and calorific values of food to be displayed on restaurant menus. Implications for policy-making and hospitality management are discussed.     

Restaurant Authenticity: Factors That Influence Perception,Satisfaction and Return Intentions at Regional American-Style Restaurants

This study assessed perceptions of authenticity and its relationship with satisfaction and return intentions for regional American-style restaurants using randomly selected customers at a Southern-style country-cooking restaurant. Results showed that personal and restaurant attributes influenced perceived restaurant authenticity, with a restaurant’s food and beverage and local community marketing having the strongest influences. Results also showed that perceived authenticity influences restaurant satisfaction and return intentions. Findings suggest restaurants should ensure their food and beverage meets customers’ authenticity standards and that they should promote their community connections in order to enhance diner loyalty and return patronage. Implications are discussed in detail.     

Restaurants and dining out : Geography of a tourism business

Restaurants and dining out are an important part of the tourism industry and are a major business in their own right. They also have characteristics that make a geographical analysis especially pertinent: They require movement through space, there are strong regional variations in patterns of restaurant development, and location is an important factor in the success of a restaurant. This paper examines two aspects of the geography of the restaurant industry in Canada: national patterns of restaurant development and the tendency to dine out, and local patterns of site selection. Basic patterns are described and possible processes influencing these patterns identified. Recommendations are given for the location of new restaurants of different types     

Determinants of commodity price risk exposure in the restaurant industry: An analysis by commodity price cycles

The objectives of the present study were to (1) investigate the level and the extent of commodity price risk exposure in the restaurant industry and (2) identify the determinants of risk exposure. The risk exposure was estimated by 60-month rolling regressions based on equity returns. The determinants of equity risk exposure were proposed based on a discounted cash flow model. The results found that 35.39% of sample restaurant firms are exposed to commodity price risk. The level of equity risk exposure was estimated to be 1.148 during commodity price booms and 1.031 during slumps. Empirical testing was consistent with the model prediction that operating leverage and financial leverage are effective tools in managing risk exposure, but the effects are asymmetric during commodity price booms and slumps. Financial leverage was found to be more effective than operating leverage.     

Examining the Impact of Restaurant Innovativeness on Relationship Quality in Luxury Restaurants

ABSTRACT

Despite the importance of innovation as a determinant for the success of restaurant businesses, little research has been conducted on the postconsumption evaluations of the image of restaurant innovativeness as perceived by the customer. In order to fill this important gap in the literature, the purpose of this study is to examine the perception of restaurant innovativeness and the effect of this construct on relationship quality. Based on a review of the literature, a conceptual model was developed hypothesizing the effects of the overall image of restaurant innovation on three determinant attributes of relationship quality: trust, commitment, and satisfaction. The model was then tested using data collected from 398 luxury restaurant patrons. The results of data indicate that the overall image of restaurant innovativeness is positively related to relationship quality in the luxury restaurant setting. The theoretical and practical implications of these results are considered.     

An examination of executive compensation in the restaurant industry

The purpose of this empirical study is to examine executive compensation in the restaurant industry. The effects of a set of accounting-based performance measures, market-based performance measures, and executive-related factors on the compensations of firm CEOs, other senior executive managers, and board members were examined. Drawn from 16 consecutive years of data and a sample of over 2200 observations from restaurant companies, the findings revealed that determinants of equity based compensation vary by different types of executives. In addition, this study supports the notion that executive compensation in the restaurant industry is determined not only by firm performance measures but also by executive-related characteristics such as tenure.     

Environmentally friendly practices among restaurants: drivers and barriers to change

This study of environmental management in the food service industry in general and the restaurant sector in particular highlights food services’ impacts on the environment, and drivers and barriers to change. The study is based on research in Penang, Malaysia, which included a personally assisted survey of 26 restaurant managers operating casual upscale businesses. The survey findings show that implementation of environmentally friendly practices is weak in the restaurant sector. While top managers claim to be informed and concerned about environmental issues, they are reluctant to invest in environmental management systems, to change practices, to advertise environmentally friendly products or invest in the implementation of environmentally friendly practices. They note barriers to change, including weakly enforced environmental laws and regulations, scarce and intermittent green supply chain, non-existent trade pressure and poor customer and community demand for restaurant business to implement green practices. A model of barriers and drivers leading to the implementation of environmentally friendly practices is presented in this study. Government intervention, including public education, capacity building and support in the trade and agricultural change to grow more organic crops, is suggested. The study depicts the responsiveness of restaurateurs towards the implementation of environmentally friendly practices in the context of a developing country.     

Application of upper echelon theory for corporate social responsibility dimensions: Evidence from the restaurant industry

ABSTRACT

This study applies upper echelon theory and validates its conceptual framework by investigating chief executive officers’ observable determinants (e.g., the age, tenure, and formal education of top managers) of corporate social responsibility (CSR) in the restaurant industry. Multiple CSR dimensions (e.g., operational, non-operational, community, diversity, employee, environment, and product) are examined through fixed effects regression. The results indicate that older and highly educated CEOs who serve more stakeholders perform fewer CSR activities, whereas longer tenured CEOs who serve more stakeholders perform more CSR activities. Consequently, non-operational, community-, diversity-, employee-, and environment-related CSR activities are significantly explained by the proposed attributes. By validating both the theoretical perspectives of upper echelon theory and the role of stakeholder demands in CSR decisions, this research can contribute to expanding the CSR and upper echelon literature to the restaurant industry.     

Characterizing non-chain restaurants’ Yelp star-ratings: Generalizable findings from a representative sample of Yelp reviews

Previous research has established the importance of positive Yelp reviews for the success of independent, non-chain restaurant. While managers may assume that increasing customer satisfaction will increase star rating, previous research on determinants of satisfaction does not necessarily generalize to Yelp reviews or across Yelp star ratings. Accordingly, we used Multiple Correspondence Analysis with a representative sample of 54,000 reviews to investigate the criteria used by reviewers in their assignment of star-ratings to determine if different star-ratings are characterized by different criteria. Our findings confirm previous research showing the importance of service, food, and environment, but suggest these criteria matter differently at different star ratings. Based on these results, we offer suggestions for improving restaurants’ star-ratings: for 1 and 2-star restaurants, avoid long waits, for 3-star restaurants, focus on improving food quality, for 4 and 5-star restaurants, focus on creating a positive overall experience through service, food, and environmental factors.     

Determinants of dining satisfaction and post-dining behavioral intentions

The purpose of this research is to empirically investigate the determinants and consequences of dining satisfaction with restaurant services. A total of 338 undergraduate business students participated in this research. Results reveal that there exist three sources of customers’ satisfaction with restaurant services: positive emotions, perceived service quality and negative emotions. Positive emotions have more impact on customers’ satisfaction than negative emotions. In addition, emotions mediate the impact of perceived service quality on dining satisfaction. Finally, satisfaction has a significant impact on recommendation, customer loyalty and willingness to pay more.     

Research Possibilities in Private Club Management

Abstract

This research project proposes a process that studies the service quality trade-offs that restaurant managers worldwide are willing to make in order to maximize their customers' satisfaction level. The project uses traditional conjoint techniques to determine which service attributes managers are willing to trade so that customer satisfaction is maximized.     

Understanding and projecting the restaurantscape: The influence of neighborhood sociodemographic characteristics on restaurant location

To better understand the location patterns of different types of restaurants across the United States, we investigate the relationship between neighborhood sociodemographic characteristics and restaurant location using a unique data set from 2013 covering 30,772 U.S. zip codes. The estimation results from negative binomial regression models confirm the significant impacts of various sociodemographic factors (e.g., population density, median age, median household income, average household size, educational attainment, gender distribution, housing tenure, neighborhood urbanization) on restaurant location. We also project future restaurant growth potential based on model estimates and projected changes in sociodemographic characteristics by 2020. The results are analyzed, and several metropolitan areas in Texas and Florida are identified as having high potential for growth. Lastly, implications are provided for restaurant real estate practitioners.     

Effect of Restaurant Patrons' Regret and Disappointment on Dissatisfaction and Behavioral Intention

The objective of this study is to investigate the relationship among regret/disappointment, dissatisfaction, and behavioral intention in service failure situations at a restaurant. Even though there is a consensus regarding the positive relationship between regret/disappointment and customer dissatisfaction, unclear results still exist regarding the relationship between regret/disappointment and different types of behavioral intention. Thus, the present study attempts to clarify these fuzzy relationships. Specifically, this study aims to enhance understanding of the influence of regret and disappointment on behavioral intention (switching/negative WOM). The findings suggest that both regret and disappointment are significant determinants of customer dissatisfaction and switching/negative WOM. Further, the study results indicate that regret is an important predictor of switching intention, whereas disappointment is an important determinant of negative WOM. Finally, based on these findings, managerial implications for restaurant managers are discussed.     

Creating a model of customer equity for chain restaurant brand formation

The purpose of this research was to create and test a model of customer equity for chain restaurant brand formation. It has long been acknowledged that managing and enhancing customer equity influences a company's shareholder value, which is a reflection of long-term financial performance. A review of the current literature revealed three key determinants of customer equity: (1) value equity, (2) brand equity, and (3) relationship equity. Six hypotheses were derived and, based on data analysis, all six were supported. Value, brand, and relationship management were all confirmed to be important factors in enhancing customer equity in the chain restaurant industry. Further, brand equity has the strongest impact on the development of customer equity in this particular industry. Relationships among value equity, brand equity, and relationship equity were also identified. Managerial implications are discussed.     

Modeling community support for a proposed integrated resort project

In recent years Mauritius has experienced a rapid increase in integrated resort developments, which have been intended to secure income from new tourism segments and to boost the local economy. Using data on the responses of residents of Le Morne, Mauritius, to a proposal to construct an integrated resort, this study develops and tests a model of community support for the proposed development. The structural model indicates that residents' satisfaction with their own community, their utilization of the resource base, their perceptions of the state of the local economy and their environmental attitudes are antecedents of their views about the costs and benefits of the project. Opinions about the benefits and costs of the project were also found to determine the level of community support. All factors in the model were found to be determinants of the perceived costs and benefits of the project, except for residents' perceptions of the impact of the development on their utilization of the resource base. The theoretical and managerial implications of the study are discussed. The most notable contribution of the study is its findings on the influence of residents' satisfaction with community services on their attitudes and support for tourism development.     

“His lack of a mask ruined everything.” Restaurant customer satisfaction during the COVID-19 outbreak: An analysis of Yelp review texts and star-ratings

The aim of the study was to provide practical advice to restaurant managers for improving star ratings as well as information for researchers on how the pandemic has impacted established determinants of satisfaction. The study examined criteria used by restaurant customers in assigning star-ratings on Yelp during the COVID-19 pandemic using keyword analysis and Multiple Correspondence Analysis. In evaluating restaurants, the reviewers focused on service, overall experience, and food quality. Service was discussed in relation to the pandemic and included safety of the dine-in experience, contrasted with take-out options and compliance with COVID-19 guidelines. These criteria applied differently with lower-star reviews focusing on safety, social distancing, and mask policies. Higher-star reviews focused on take-out/delivery services, high-quality food, and an overall positive experience. The study provides valuable contributions to our understanding of how the COVID-19 pandemic will impact the restaurant sector in a post-pandemic world.     

Perceptions of Chinese restaurants in the U.S.: What affects customer satisfaction and behavioral intentions?

This study investigates American customers’ perceptions of Chinese restaurants in the U.S., using the Importance–Performance Analysis (IPA) approach. This study also examines which attributes of Chinese restaurants influence American customers’ satisfaction and behavioral intentions. The IPA shows that environmental cleanliness and attentive service are two important areas where Chinese restaurateurs can make improvements. In addition, food taste and service reliability appear to be key attributes for Chinese restaurants’ success. Overall, this study indicates that food quality, service reliability and environmental cleanliness are three pivotal attributes to create satisfied customers and positive post-dining behavioral intentions. Chinese restaurant managers should reasonably allocate their limited resources to restaurant attributes based on their contributions to customer satisfaction and behavioral intentions.     

Employee job satisfaction and customer-oriented behavior: A study of frontline employees in the foodservice industry

ABSTRACT

As the significance of frontline employees increases in the foodservice industry, organizations are paying more attention to internal marketing and customer-oriented behavior for the success of their business. Thus, this study surveys restaurant employees to investigate the impact of development and rewards on job satisfaction and customer-oriented behavior from the perspective of restaurant employees. This study not only supports aspects of previous literature, but also proposes a testable and parsimonious research model by exploring development, rewards, job satisfaction, and customer-oriented behavior simultaneously and revealing how those factors are correlated. Finally, limitations and future research directions are addressed.