Disruptive innovation,innovation adoption and incumbent market value: The case of Airbnb

The purpose of this article is to analyze the market value impact of actions taken in response to disruptive innovation; specifically, actions that incumbent lodging firms implement to adopt the innovation of peer-to-peer trading-based accommodation rental. As incumbent firms need to device strategies to accommodate the disruption stemming from a new entrant with a disruptive business model, we analyze the differentiated efforts of four incumbent lodging firms to compete with the peer-to-peer lodging firm Airbnb. This study is the first to quantify the effects of innovation on incumbent tourism firms challenged by a disruptive entrant. It finds that adoption speeds, that is first vs. late adoption, make a difference as the former are awarded a significant increase in market value.     

The interplay between socioemotional wealth and family firm psychological capital in influencing firm performance in hospitality and tourism

The purpose of this study is to examine the impact of family firm specific non-financial dynamics [socioemotional wealth (SEW) and family firm psychological capital (FFPsyCap)] on firm performance. We develop a model of how family firms' SEW preservation goal negatively affects firm performance in terms of sales and the mitigating influence of FFPsyCap on this association. We test the model on a sample of 192 family firms in the Hospitality and Tourism (H&T) industry. Using a cross-sectional research design, surveys were solicited from small-and-medium size hotels in Turkey. Ordinary Least Squares technique is used to test our hypotheses. The results reveal that family firms' SEW preservation goal negatively affects firm performance in terms of sales, and the FFPsyCap mitigates this influence. Accordingly, if small-and-medium size firms in H&T can capitalize on non-financial strengths and minimize the impact of family-centric goals on firm outcomes, they can attain transgenerational sustainability and success.     

Drivers and consequences of sustainability committee existence? Evidence from the hospitality and tourism industry

This study's objective is twofold: (1) to investigate whether board characteristics predict the existence of a sustainability committee, and (2) to examine whether the establishment of sustainability committees stimulates sustainability reporting, external assurance, and the adoption of the Global Reporting Initiative (GRI) framework in hospitality and tourism (H&T) firms. For this purpose, the data was derived from the Thomson Reuters Eikon database for publicly traded H&T firms from 2013 to 2018. The results indicate that while board size is a significant predictor of sustainability committee establishment, female and independent directors are not. Furthermore, the H&T firms with a sustainability committee are more likely to issue a sustainability report, to get an independent assurance statement on sustainability reporting, and to follow GRI guidelines in configuring sustainability report content and structure. Overall, the results suggest important implications to help H&T firms achieve sustainable goals and to design their boards accordingly.     

The importance of human-related factors on service innovation and performance

Firm size, collaboration, foreign ownership and the level of formal training for employees are just some of the key inputs considered to be important in the amount of Service innovation in Tourism firms. However work has called for a greater empirical understanding on service innovation in Tourism and deeper consideration of employment focused practices as front line employees are crucial to innovation. The relationship customers have with service providers is a key determinate of satisfaction and as such the aim of this research is to unpick further the human-related factors associated with this area of study. Data for this research paper were gathered from 201 tourism service firms located throughout Japan. Whilst the results indicate that committed front-line employees and leadership are found to be the primary antecedents of service innovation, knowledge management and instilling creativity through the firm are also key. Our results suggestion that organizations can leverage the benefits associated with human-related factors to enhance service innovation behaviours and increase business performance.     

A hierarchical model of technology adoption for small owner-managed travel firms: An organizational decision-making and leadership perspective

This article assesses the diffusion of innovation theory and the technology acceptance model, and explores the factors influencing the decision to engage in technology adoption in small owner-managed travel firms. This is done through the use of the overarching theory of organisational decision-making to identify concepts and constructs which relate to the decision to adopt. The work aims to identify the genesis of adoption decisions in particular where owners are themselves the managers and provide leadership for the organization. After the distillation of factors it was found that due to simple hierarchical structures and decision-making processes which were further exacerbated by immediate self-interest, leadership was the most significant driver. This article goes further to identify leadership typologies at each level of technology adoption in firms.     

Maori and Tourism: A Relationship of History,Constitutions and Rites

This paper describes developments in Maori tourism. It argues that such developments cannot be understood without reference to a socio-political and ethical context of the history and ethical structures of Maori. It draws attention to Maori as an indigenous people as defined by the conventions on such peoples as adopted by the United Nations, and the recognition of ownership of cultural symbols. Maori claims of ownership of the symbols and practices adopted by tourist operators are thus sanctioned by international and national rights, but are equally tempered by Maori notions of hospitality to guests. However, Maori notions of gifts require respect and proper usage of gifts, and it is with this accord that Maori become involved with tourism. Furthermore, economic realities mean that Maori tourist operations will tend to be at an individual or extended family level, and hence the recognition of Maori ownership may be said to be more important. However, a further complicating issue is that Maori society is traditionally a tribal society; the Maori tourist 'gaze' is thus fractured by this consideration.     

Going green: the adoption of environmental initiatives in Michigan's lodging sector

The greening of tourism activities continues to receive attention from industry members and academics. This paper assesses familiarity with, perceived benefits of and adoption levels of various environmental initiatives within the accommodation sector in Michigan, USA, based on 217 responses to an online survey of lodging providers. Variations in familiarity with various green schemes, as well as in perceived benefits of the adoption of green business practices, were assessed across property characteristics, including type, ownership, location and size. The existence of a written environmental policy was associated with higher levels of adoption of green practices for less than half of these practices; fewer than anticipated. Interesting differences in the practices adopted between smaller, independent and larger chain properties emerged, with the smaller independents more likely to engage in community-oriented activities and use local and/or organic products. The almost complete implementation of the proper disposal of hazardous waste contrasted with minimal use of keycards to control power use. The findings have implications for the promotion of green initiatives to the lodging sector, particularly in terms of which agency or organization could best deliver this messaging. Potential synergies between the findings and the award-winning tourism marketing campaign, Pure MI, are discussed.     

Green practices in the restaurant industry from an innovation adoption perspective: Evidence from Taiwan

This study proposes an integrated model that combines the theory of planned behaviour (TPB) and the innovation adoption theory to investigate the attitudinal and behavioural decision factors on adopting green practices in the restaurant industry in Taiwan. The results demonstrate that attitude and perceived behavioural control have positive effects on behavioural intention while social influence is insignificant. Perceived innovation characteristics have direct positive effects on attitude and indirect positive impacts on behavioural intention to adopt green practices. Managerial implications are discussed.     

Assessing the sustainability of agritourism in the US: a comparison between agritourism and other farm entrepreneurial ventures

Diversifying on-farm enterprise portfolios, especially through agritourism, is claimed to increase farm revenues and help alleviate the economic problems of family farms. Thus, the adoption of agritourism in the US has steadily increased during recent years. Agritourism is also suggested to produce environmental and sociocultural benefits. To quantify these benefits, this study assessed the sustainability of agritourism farms, compared with other farm entrepreneurial ventures, using the “sustainable development” and “farm enterprise diversification” frameworks. Data from 873 US farms with a diversified entrepreneurial portfolio revealed that agritourism farms approach sustainability to a greater extent than their counterparts, producing multiple environmental, sociocultural and economic benefits for their farms, households and even society. Results suggest that agritourism, compared with other farm entrepreneurial ventures, is more successful in increasing farm profits, creating jobs and conserving the natural and cultural heritage. For example, 52.4% of agritourism farms have been within the same family for at least two generations and 73.3% are willing to pass the farm on to their children, proportions that are significantly higher than other entrepreneurial farms. Study results also show, however, that while many agritourism farms practice integrated pest management, they need to be more engaged in other environmentally friendly and conservation practices.     

Encouraging Sustainable Business Practices in a Non-regulatory Environment: A Case Study of Small Tourism Firms in a UK National Park

This paper presents an empirically based, qualitative insight into the attitudes and response of a sample of small tourism firms in a UK national park to the challenges of sustainable tourism. The findings offer some explanation for the limited action taken by firms of this kind to improve their environmental performance and suggest that firms can be categorised according to their attitudes to sustainability. A conceptual model is developed to encapsulate the complex range of factors that underpin the different behaviour of individual firms. Implications for policy makers committed to a policy of encouraging voluntary action on sustainability are offered.     

Does managerial ownership influence franchising in restaurant companies?

Although the link between managerial ownership and firm performance is often explained in relation to a firm’s risk-taking behavior, little is known about how managerial ownership affects corporate risk-taking in industries characterized by high financial and operational risks, like the restaurant industry. To understand this important and understudied link, our study draws upon agency theory to examine the relationship between managerial ownership and franchising, typically a risk-reduction strategy of restaurant firms. Our results from panel data analyses using a sample of 962 firm-year observations show that managerial ownership is negatively associated with degree of franchising. Further, we find that after considering the scope of managerial discretion, there is a U-shaped relationship between managerial ownership and degree of franchising such that the degree of franchising decreases as managerial ownership increases up to a certain level, but then increases in tandem as managerial ownership increases to higher levels. Our results indicate that there is an optimal level of franchising associated with managerial ownership, implying that owners can influence their firms’ risk-taking behavior by setting target managerial ownership goals and designing effective incentive contracts.     

An examination of cost management behavior in small restaurant firms

The purpose of this study is to test cost management behavior of small restaurant firms and identify whether managers of these small restaurants behave differently depending on their management and ownership structure. The sample was comprised of 87 small restaurant firms identified from the 1998 Survey of Small Business Finances (SSBF). Cost of doing business, size of staff, and five performance measures were used as dependent variables. Independent variables included management and ownership type. Study findings identified significant differences in the profit margin depending on management type and ownership percentage of the primary owner. We also find that the cost of doing business (total expenses) varies depending upon single-family majority/minority ownership and the ownership percentage of the primary owner. The results support the notion that small restaurant firms are operated differently depending on their management and ownership structure.     

Predicting mobile hotel reservation adoption: Insight from a perceived value standpoint

With the attempt of further supporting the overwhelming demand for reservation, a few hospitality corporations have launched mobile hotel reservation (MHR) services. For the acceptance of MHR by individuals is indispensable to the successful implementation of MHR, it is critical for practitioners and academics to understand the factors influencing the adoption of MHR. This study examines the adoption of MHR from the value perspective by proposing and examining a new research model that can capture both gain and loss elements influencing individual value perceptions on behavioral intention to adopt MHR. Data from 235 usable questionnaires, collected in Taiwan, were tested against the research model using the structural equation modeling approach. The results indicated that perceived value was a predictor in explaining the customer's adoption of MHR. From the benefits point of view, perceptions of information quality and system quality were the two critical components significantly influencing perceived value of MHR. On the sacrifice side, the effects of technological effort and perceived fee on perceived value were significant. This study will be helpful to researchers in developing and testing MHR related theories, as well as to hospitality firms in understanding individual value perceptions of utilizing MHR and implementing successful MHR system to attract more customers. Theoretical and managerial implications of our results are discussed.     

The Triple Bottom Line: A Framework for Sustainable Tourism Development

This conceptual article proposes that tourism development organizations adopt a triple bottom line (TBL) framework to enhance their sustainability. The TBL is a philosophical orientation whereby organizations develop and implement not just a traditional economically sustainable strategy, but also explicitly include environmental and social sustainability strategies. The history of TBL and its application to sustainable tourism development are offered and the development of a much-needed measurement instrument is described and the instrument is presented for discussion. The article concludes by presenting the benefits that can accrue to a sustainable tourism development organization through the adoption of a TBL philosophy and the use of a reliable instrument to measure TBL performance.     

“I recycle,I turn out the lights”: understanding the everyday sustainability practices of backpackers

As holidays merge more intimately with the everyday lives of an increasing number of people, questions of sustainability in tourism contexts become ever more urgent. Using the concept of everyday practices, in which sustainability is thought to emerge in the routines of people going about their day-to-day lives, this mixed-method study aimed to understand how sustainability figures in the practices, of backpackers. Findings revealed sustainability to be of minimal concern to most backpackers who nevertheless performed a range of sustainable practices but unintentionally. Environmental sustainability was practised via reduced resource consumption and waste, economic sustainability by working and spending more money overall than other tourist types, and social sustainability through demonstrating cultural respect and community participation. The main factors encouraging sustainable practices amongst backpackers were their low-budget focus and their use as a labour source by industries that require temporary and flexible workers. When backpackers were employed, each facet of sustainability became mutually reinforcing. The results of this study are in contrast to usual perceptions of tourism as a time in which norms of sustainable behaviour are suspended, as backpacking was found to provide opportunities for the performance of more sustainable practices compared to home.     

The Environmental Attitudes and Practices of Family Businesses in the Rural Tourism and Hospitality Sectors

This paper examines the environmental goals of rural, family owned/operated tourism business with a view to evaluating their conservation ethic and commitment to sustainable tourism. From a survey of 198 family businesses in Western Australia, it was determined that about half of them had implemented a range of sustainable management practices. Future research needs are identified, and management ideas are suggested which could encourage the adoption of sustainable tourism practices in rural family businesses.     

Modeling the psychological antecedents to tourists’ pro-sustainable behaviors: an application of the value-belief-norm model

Understanding the psychological mechanisms underpinning tourists’ voluntary adoption of behaviors that minimize harm to environments and communities that support tourism is critical for the sustainability of the industry. In this study, we examined the internal attributes that lead tourists to adopt three dimensions of pro-sustainable behavior drawing on the value-belief-norm model. We hypothesized that pro-sustainable behavior is reflected in three dimensions of intent related to behaviors that reduce environmental impacts, the consumption of local goods and services, and a willingness to sacrifice time and money to choose sustainable options. Additionally, hypothesized behavior to be a function of altruistic values, beliefs and Personal Norms. Data were drawn from a panel of active US tourists (N = 623). The hypothesized model predicting pro-sustainable behavior was tested using structural equation modeling techniques. Results demonstrate that the model adequately fit the data, and that Personal Norms account for a considerable degree of variance in tourists’ pro-sustainable behavioral intent. Biospheric values were found to influence behavioral intent mediated by value-belief-norm model constructs.     

Asset-light business model: An examination of investment-cash flow sensitivities and return on invested capital

The purpose of this study is to investigate the effects of the asset-light business model on investment-cash flow sensitivities and return on invested capital in the lodging industry. Little research has explored the link between investment and asset ownership structure. The current study provides an alternative approach to examining investment behavior and return on invested capital, focusing on the unique characteristics of asset ownership among lodging firms. The findings of this study provide important implications for lodging investors and shareholders regarding the strategic use of the asset-light business model for aiding lodging firms’ efficient investments and delivering high return on invested capital.     

The sustainability behaviour of small firms in tourism: the role of self-efficacy and contextual constraints

This article presents a grounded theory to explain why some small businesses in tourism adopt sustainable business practices while others do not, even when they share environmental and wider sustainability concerns. It does so based on research undertaken among business owners in Crete. The paper starts by considering studies on sustainability awareness, knowledge and the mechanisms for accepting responsibility. Secondly, it summarises the influence of task difficulty and effort on sustainability self-efficacy. Thirdly, it focuses on social comparisons and vicarious experiences, as a way of learning what is important. Finally, it examines powerlessness due to perceived situational constraints. In so doing, the study finds that self-efficacy helps to explain sustainable attitude formation and the attitude-behaviour gap; it partly shifts the locus of responsibility for an inability to act sustainably away from the individual and towards their context. The paper contributes to the theoretical literature on small businesses and sustainability, and leads to new avenues for policy interventions.     

Exploring the effect of Airbnb hosts' attachment and psychological ownership in the sharing economy

Previous research on the sharing economy has not typically focused on organizational structure and its management in spite of the fact that the essence of recent peer-to-peer business practices is the collaboration of online platforms and sharable assets owned by market peers. This paper critically examines a theoretical model to explore how these market partners engage in this platform organization and how their perceptions of attachment and ownership are established within the new organizational structure. The results of structural equation modeling applied to 224 Airbnb hosts indicate that attachment to a platform firm plays a vital role in achieving a sense of psychological ownership that ultimately influences citizenship behaviors toward the organization as well as toward peer hosts. The results suggest that the newly formed structure should acknowledge an establishing mechanism of attachment and psychological ownership in partnering with individual service providers in its operational management.