旅游企业多元化并购类型与长期绩效的关系——以2002～2008年中国旅游上市公司为例

企业多元化与其绩效之间的关系为企业战略管理最为核心的研究主题之一.虽然已有研究表明,多元化有利于提高旅游企业价值,然鲜有学者从并购角度研究多元化类型与旅游企业绩效之关系.因此,本文以2002～2008年41起旅游上市公司多元化并购事件为例,将多元化并购分为相关多元化并购和无关多元化并购,采用财务研究法衡量不同类型多元化并购对企业长期绩效的影响,探讨旅游企业多元化并购类型与长期绩效的关系.结果表明,旅游企业不同类型多元化并购后长期绩效呈现明显的趋势差异:无关多元化并购后企业长期绩效表现出大起大落的趋势,并购后二期的长期绩效仅比并购前一期增长8％；相关多元化并购企业长期绩效虽然在并购后一期小幅下降,但在并购后二期大幅上升,并购后二期的长期绩效比并购前一期增长147％,同时在控制收购方其他特征之后,多元化并购类型对企业并购后二期绩效影响在10％的水平下几乎是显著的.这说明相关多元化并购更多的是一种长期价值促进作用,无关多元化并购无法获取长期价值促进效应.另外,从并购前一期企业绩效来看,相关多元化并购多发生在并购前公司绩效就已经比较好的公司,无关多元化并购公司多在并购前公司绩效就差.     

旅游者购物偏好行为研究——以西安入境旅游者为例

明确旅游者对旅游商品的偏好对旅游目的地旅游业发展具有重要的意义.本文在综合分析了构成旅游者偏好各心理变量的基础上提出了以认知导向为主的旅游者偏好定义.同时,在测度方法上发展了亲(疏)景度的测度方法以适应旅游者行为问卷调查分析的需要.以此为基础分析了2006年西安入境旅游者问卷调查资料后发现:入境旅游者来华前的旅游购物偏好明显高于旅游后的旅游购物偏好,其主要影响因素是旅游者对旅游目的地相关信息掌握程度所导致的认知偏差及旅游目的地体验质量的高低程度;旅游者购物偏好在社会人口结构特征上没有明显的变化规律,呈多态化;入境旅游者对我国的手工艺品、中药保健品和食品类旅游商品呈高偏好度;其购物偏好具有明显的地域相邻相似的特点.最后,提出了本研究的不足及我国旅游商品开发应遵循旅游者购物偏好规律的建议.     

投资战略、治理机制与旅游企业融资成本

中国旅游企业普遍存在融资难、融资成本偏高问题,这严重影响了旅游企业的生存、发展与扩张。为此,迫切需要科学探究旅游企业融资成本的影响因素,并采取相应治理措施以降低融资成本。文章以公司治理视角为切入点,立足于旅游业区别于其他行业的特殊性,利用我国旅游上市公司的财务统计数据,实证检验了旅游经营环境、旅游企业投资战略、治理机制对融资成本的影响效应。研究结果表明:旅游企业债务融资成本小于股权融资成本,旅游企业应充分利用经营权和用地使用权质押贷款等多元化债务融资方式。投资战略方面,旅游需求波动性和非旅游相关多元化战略会提高融资成本,旅游企业投资方向应为相关多元化/并购,投资项目应能降低旅游收益波动性。治理机制方面,信息披露与法律保护机制能降低融资成本,股权结构与融资成本存在倒"U"形关系,而高管激励机制则会提高融资成本,旅游企业应建立科学的股权结构和董事会治理机制,构建多层次高管薪酬体系和信息披露制度,完善品牌投资战略以实现品牌质押融资。     

国有企业跨行业并购旅游项目的风险识别及防范——以Z国企对F旅游项目股权收购为例

随着“做强做优做大”发展理念的不断推进,国有企业基于国家战略发展、企业产业结构布局的需要,对旅游项目的并购不断增多,但目前针对国有企业跨行业并购旅游项目的研究几乎为零。因此,文章通过对Z国企并购F旅游项目的风险进行分析,系统性研究国有企业跨行业并购旅游项目的常规性风险以及应对方案,以期通过此研究能够为国有企业进军旅游行业提供一定参考,从而避免由于对常规性风险的认识不足而导致并购失败或运营失利。     

我国区域旅游空间结构演化的微观机理与动态模拟研究

本文在垄断竞争、规模经济、交通成本、消费者多样化偏好以及旅游产品和服务差异化的两区域旅游空间结构模型的基础上,提出了经济学演绎模型与基于自主体(agent)的计算实验相结合的研究路径,通过对旅游企业、消费者等大量微观自主体的相互作用来"动态地"观察和探讨沿海与内地两区域旅游空间结构变动的微观基础、影响因素和动态过程.本文认为,研究区域旅游空间结构及其演化机理,空间经济学演绎模型与推导→基于agent的地理计算→实证分析与计量检验,是一个值得探索的技术路线.     

价值观与旅游消费行为关系研究进展与启示

价值观是影响旅游者消费心理和行为的重要因素.内隐性价值观与外显性旅游消费行为关系的研究路径可以归纳为"由内而外"(价值观→行为)和"由外而内"(行为→价值观)两种路径,不同研究路径的视角、目的和方法等存在一定差异.现有的价值观与旅游消费行为关系的研究成果,主要集中在旅游者价值观的界定和度量、旅游市场细分、旅游活动偏好、价值观对旅游消费行为影响等方面,并回顾了中国旅游者价值观研究.中国消费者价值观与旅游行为关系研究应具有中国情境化特征,理论建构要嵌入中国社会文化现实和具体消费情境,从主位研究视角发展旅游者价值观概念,将定量和质性研究方法相结合,增强价值观对旅游消费行为影响的解释力,加强对不同群体和区域消费者个人价值观与旅游行为关系的研究.价值观与旅游消费行为关系的中国情境化取向研究,有助于从价值观视角揭示中国旅游者行为的规律,为企业开展价值观驱动的旅游营销活动提供理论指导.     

低碳经济下地方政府和旅游企业的演化博弈

全球气候变化及其对旅游业的潜在重大影响已成为世界范围的迫切问题,低碳旅游近年来受到国内外学者的广泛关注.政府部门和旅游企业被公认为是低碳旅游发展的重要责任主体,文章选取这两个利益相关者,研究双方在低碳发展决策中的演化博弈,以期通过较为精确的数学模型验证政企互动下低碳旅游激励政策的有效性,并从动态的角度探讨这两个群体的演化稳定策略,剖析其发展路径与影响因素,为低碳监督策略提供一定的参考.研究结果显示:两个博弈主体的策略选择依赖于初始状态及其演化路径,地方政府和旅游企业只有基于长远利益进行决策才能获得更高的收益;可通过动态调节碳排放奖惩力度,降低旅游企业低碳转型成本,调整碳排放行业标准等措施引导地方政府与旅游企业共同促进低碳旅游发展的和谐均衡状况.     

园区类科技旅游资源的游客感知研究——以中国科学院奥运村科技园为例

我国科技旅游的发展使得以中国科学院奥运村科技园区为代表的园区类科技旅游资源的研究受到关注.中国科学院奥运村科学园区拥有科普场馆、实验室、仪器,设备、野外台站、科技名人和科技活动等类型的科技旅游资源.通过对444份有效问卷的分析,获取了我国公众对待科技旅游的整体态度、对园区类科技旅游资源的感兴趣程度等数据.对统计数据的进一步分析后.认为我国现阶段科技旅游的产业地位不高;我国公众对科技旅游资源的感知存在明显的学科偏好;公众对园区型科技旅游资源普遍感兴趣;我国公众对活动型科技旅游资源也存在明显偏好;科学家为代表的科技名人型旅游资源将成为园区类科技旅游资源的亮点.     

国外旅游企业战略联盟的现状及对我国的启示

战略联盟已经成为一种十分普遍的企业组织形式.在旅游行业,旅游企业之间组建战略联盟在国外已屡见不鲜,在我国也呈现出良好态势.文章从企业间战略联盟的形式、动机及稳定型几个方面分析了国外旅游企业战略联盟的现状,认为建立混业同盟是一大趋势,低成功率是国外旅游企业战略联盟的一大特征.文章最后对我国旅游企业组建战略联盟提出了两点启示,即在供应链管理思维下组建混业联盟和千方百计提高联盟的稳定性.     

旅游体验研究的行为分析范式

旅游体验是千差万别的私人产品,这缘于旅游体验主体的有限理性以及构成有限理性的非标准信念、偏好和行为。本文以行为分析范式重新框架旅游体验研究内容,探讨了非标准信念、偏好和行为视角下旅游体验动机、旅游体验中的情感放飞与精神救赎、旅游体验的质量等内容,其中,非标准信念中的信息瀑布与旅游体验动机研究、非标准偏好中的心理账户与视线走廊布局、非标准偏好中的偏好逆转与高峰体验设计是本文关注的重点。此外,行为分析范式中的实验方法对信念、偏好的测度,拓展了舒尔茨非"客观事物"不能定量研究的判断,行为分析范式下,旅游体验研究将"性"、"量"并重。     

基于地方情感的旅游目的地选择模型建构研究

旅游目的地选择模型建构的研究多数以微观经济学、认知心理学与市场营销学等为基础理论,较少从个体与地方感情连结的视角探讨游客旅游目的地选择决策行为。文章以旅游目的地选择为研究主轴概念,结合地方情感概念中的旅游目的地意象和地方依恋,根据研究文献梳理结果、基础理论界定模型建构的路径变量与逻辑框架,进而提出基于地方情感的旅游目的地选择模型及模型过程步骤。文章建构模型表明,游客旅游目的地选择始于旅游目的地意象的形成,随着整体认知意象的深化,游客对旅游目的地将产生地方认同感,再通过选择决策行为选择意向的旅游目的地从事旅游活动,通过对旅游目的地旅游体验的功能满足产生依赖感,最终形成对旅游目的地的地方依恋感。研究成果对于旅游目的地选择具有交叉研究的创新价值,对于旅游目的地市场战略规划实践活动而言具有参照价值。     

基于旅游者偏好和知觉风险的旅游者决策模型分析

市场营销管理者对购买者决策过程的了解直接影响着营销工作的开展.本文将基于旅游者偏好和知觉风险对旅游者购买行为决策进行探讨,在构建旅游者决策模型的基础上对旅游者偏好和知觉风险进行分析,以期打开旅游者决策过程中的黑箱,为旅游产品的营销管理者提供建设性意见.     

Exploring the Chinese Immigrants' Preference of Tourist Activities During Their Homeland Visit and Use of Past Memories

The present study attempts to explore Chinese immigrants' preference of tourist activities during their homeland visits and examine how their past memories related to their homeland may influence their preference of tourist activities. Data were collected by using a semi-structured interview and a survey of 500 Chinese immigrants. The findings revealed two types of tourist activities, namely “sightseeing” and “relive the past”. It was found that respondents' length of living in Macao and their homeland, travel patterns, and use of their past memories related to their homeland in their present life could significantly influence their preference of tourist activities during their homeland visits. Moreover, respondents, who planned to revisit their homeland in the near future, had participated in these two types of tourist activities during their last homeland visit significantly more than those respondents who had not. The results suggested that the Chinese immigrants' preference of tourist activities during their homeland visit reflected their needs of connecting to their cultural identity, reliving their past life, and learning about the changes of their homeland and personal life over the past years. The findings offer some marketing implications for destination managers in relation to tourist experience management.     

Spatial-temporal response patterns of tourist flow under entrance tourist flow control scheme

This paper explores the relationship between tourists' information demand about entrance tourist flow control schemes (ETFCS) and tourists' entrance transfer decision-making behavior, using the case study of the Summer Palace, one of the most important resort destinations in Beijing, China. After discussing tourists' decision-making behavior under ETFCS information, a revealed preference and stated preference survey (N = 1742 valid observations) were created and a joint choice model of tourist's entrance transfer and diversion entrance selection was established. Results show how various ETFCS are formulated and affect tourists' decision-making behavior under different traffic congestion. Sensitivity analysis reveals that tourists' entrance transfer decision-making behavior is related to the entry time of current crowded entrance and the time saved from the diversion entrance. Hence it is possible to formulate ETFCS in terms of tourist's spatial-temporal distribution in order to anticipate the levels of tourist intensity, especially during peak periods.     

Stage fright and romanticism in Il Giro del Mondo

This paper addresses the local cultural consequences of the tourist quest for authenticity through an ethnographic study of an ancient Christianized pagan spring ritual in Northern Italy. Rather than embracing its Christian features, tourists and local inhabitants alike define its meaning in romanticist terms. This informs “stage fright” at both ends, i.e., concerns that it may degenerate into a staged folklore show. Defining the event as celebrating their community and its ancient ties to the land, local inhabitants even dismiss tourist attendance altogether. Contradicting theories of culture loss, cultural tourism here moreover strengthens rather than weakens local culture and identity, albeit not by accommodating the tourist quest for authenticity, as theories of cultural sustenance suggest, but in opposition to it.     

798艺术区作为北京文化旅游吸引物的考察:一个市场自发形成的视角

本文从中外游客的需求动机和偏好的调查入手,利用实证分析的方法,分析了北京798艺术区成为北京著名的文化旅游吸引物的特征,指出文化旅游吸引物的形成关键在于它自身的特质,而这种特质是当地社会生活自发形成的产物,不是人为规划的结果.旅游的发展应该更加注重旅游目的地的这种特征的发现和保护,这样才能保证旅游的可持续发展.     

Preface

In current sociological analyses of tourist experience, class, race, ethnicity, age and gender are being incorporated into frameworks which initially assumed that male views of the phenomenon are universal. In this paper we seek to incorporate gender into the fundamental conceptualization of the tourist and the tourist destination. Drawing on concepts from interactionist and poststructural feminist theories we critique the male bias in the conceptualization of the tourist as ‘flaneur’ and the tourist desination as ‘image’ for the tourist gaze. A concept of the tourist destination as ‘chora’, or interactive space is offered. The tourist then becomes a creative, interacting ‘choraster’ who takes home an experience which impacts on the self in some way. We suggest that such a feminized conceptualization adds a second dimension to the one dimensional perspective which predominates in current sociological analyses of the tourist phenomenon.     

How smart is your tourist attraction?: Measuring tourist preferences of smart tourism attractions via a FCEM-AHP and IPA approach

Although smart tourism has gained increasing attention, empirical investigations of smart tourist attraction (STA) from a tourist perspective are still limited. The purpose of this study is to explore a methodological approach of assessing tourist preference of STA, and the strengths and weaknesses of an STA accordingly. First, factor analysis was used to determine tourists' key evaluation items of STA. Next, fuzzy comprehensive evaluation method and analytic hierarchy process were applied to the STA evaluation of Hongshan Zoo, a popular tourist attraction in China. Then, importance-performance analysis was conducted to diagnose the strengths and weaknesses of Hongshan Zoo's STA construction. Findings suggest that “smart information system”, “intelligent tourism management”, “smart sightseeing”, “e-commerce system”, “smart safety”, “intelligent traffic”, “smart forecasting” and “virtual tourist attractions” are tourists' key evaluation factors of STA. This paper extends previous research on smart tourism, and offers insights into the theoretical investigation and practical development of STA.     

Modeling reference experience in destination choice

The complexity underlying the destination decision-making of tourists has prompted abundant research from various academic disciplines. This paper proposes the integration of the leisure tourists’ past reference experience into a model for long-haul destination choice. By analyzing the preference of tourists regarding various attributes of a tourist destination, this study consolidates the concept of reference-dependent behavior in the context of tourist destination choice and introduces the concept of reference-level bias. The research findings provide theoretical and managerial implications.