SYSTEMATIC LITERATURE REVIEW OF TOURISM GROWTH NEXUS: AN OVERVIEW OF THE LITERATURE AND A CONTENT ANALYSIS OF 100 MOST INFLUENTIAL PAPERS

This study performs the first citation-based systematic literature review of the tourism-growth nexus. The citation analysis provides a bird's eye view of this literature, which, in turn, identifies the sources of knowledge in terms of most influential journals, authors, and articles. A detailed content analysis of 100 most influential papers has been generated on the nature of the study, variables used, country of analysis, type of analysis, the methodology, and the direction of causality. In total, 284 papers were found relevant in the Scopus database using a comprehensive list of keywords. The citation analysis reveals that Tourism Management is the leading journal with a total of 2527 citation counts, whereas Tourism Economics is the leading journal with a total of 41 publications on this topic. Juan Gabriel Brida is the most prolific author, whereas Lee and Chang (2008) is recognized as the most influential paper. The content analysis reveals that 58% have applied time series, and 38% have used panel data analysis. Tourism causing growth is the leading result of both time-series and panel studies. International tourism receipts/earnings/expenditure and the number of international tourist arrivals are the most widely used variables to measure tourism.     

Governance mode for port congestion mitigation: A transaction cost perspective

Transaction cost analysis (TCA) has been applied in a wide range of academic disciplines, including economics, marketing, sociology, organization theory, and business strategy. Literature in maritime transport has had limited exposure to this versatile theoretical framework. This paper aims at developing a conceptual model that describes governance strategies that various players within the maritime sector can adopt to mitigate congestion at ports. A TCA is used to examine port congestion mitigation from a governance perspective. A theoretical analysis conducted for this paper reveals that the three characteristics of TCA – asset specificity, frequency, and uncertainty – prevail in the maritime sector, too. The first two factors, frequency, and uncertainty, contribute to port congestion, while the third factor, asset specificity, exists because to release port congestion, some players ought to make a specific investment. We use TCA to discuss the circumstances under which governance modes such as bilateral governance and vertical integration should be used to avoid congestion and other kinds of transaction costs associated with these three attributes in the maritime sector. In this study, we suggested several testable propositions to identify the mode of governance that should be selected by stakeholders to mitigate port congestion and to protect specific investments made to release congestion at ports. This line of analysis will certainly provide all the stakeholders engaged (particularly, a public policymaker) useful insight into understanding congestion from a governance perspective.     

Shopping online for goods vs. services: where do experiential features help more?

This study investigates how the type of offer sold online (goods vs. services) moderates the relationships between perceived experiential values and customers' attitudes towards the website. A sample of 107 e‐shoppers of services and 110 e‐shoppers of physical goods responded to a survey on their most recent e‐shopping experiences. Results support the majority of hypotheses. It was found that although offering experiential values on the site improves customers' attitudes for both physical goods and services websites, the impact is much stronger in the case of services. Theoretical and managerial contributions are discussed.     

Global Insights on TMT Gender Diversity in Controversial Industries: A Legitimacy Perspective

Journal of Business Ethics - Firms in controversial industries such as tobacco, alcohol, gambling, weapon, and nuclear power suffer organizational legitimacy problems. These firms, therefore, adopt...     

International Marketing Ethics from an Islamic Perspective: A Value-Maximization Approach

International marketing practices, embedded in a strong ethical doctrine, can play a vital role in raising the standards of business conduct worldwide, while in no way compromising the quality of services or products offered to customers, or surrendering the profit margins of businesses. Adherence to such ethical practices can help to elevate the standards of behavior and thus of living, of traders and consumers alike. Against this background, this paper endeavors to identify the salient features of the Islamic framework of International Marketing Ethics. In particular, it highlights the capabilities and strengths of this framework in creating and sustaining a strong ethical international marketing culture. At the heart of Islamic marketing is the principle of value-maximization based on equity and justice (constituting just dealing and fair play) for the wider welfare of the society. Selected key international marketing issues are examined from an Islamic perspective which, it is argued, if adhered to, can help to create a value-loaded global ethical marketing framework for MNCs in general, and establish harmony and meaningful cooperation between international marketers and Muslim target markets in particular.     

Trend forecasting for stability in supply chains

This paper revisits the use of trend forecasting to determine ordering policy in supply chains by viewing it as a part of the control process for making the supply responsive to demand. Trend forecasting is often used to assess demand — a tracked variable in the control context, which drives supply — a tracking variable. Used in this way, it is often observed to increase instability creating the so-called bullwhip effect. Trend is used on the other hand with reliability to increase stability in controller control, but with the difference that a trend of a tracking variable is used to drive correction. While both processes involve use of trend to determine policies for achieving reliable performance, the outcomes of the former are variable while those of the later can create improvement in control with certainty. The similarities and differences between the two processes are discussed and guidelines developed for applying trend forecasting to enhance stability in supply chains.     

Environmental management,nonmarket strategy,and firm performance in emerging markets: The case of ISO 14001

Firms use environmental management standards such as ISO 14001 to reduce the impact of business activity on the natural environment. Though these standards are widely celebrated on moral and ethical grounds, their implication for financial performance and competitiveness is equivocal. Drawing on neo-institutional theory, we conceptualize ISO 14001 as a nonmarket strategy and examine its impact on firm performance within the contexts of three highly polluted emerging markets – China, India, and Pakistan. Employing a rigorous event-study approach, we find that ISO 14001 certification has a negative impact on firms’ operating profitability and market value in both short and long runs. This negative impact appears to be stronger in contexts with weak institutions and poor environmental protection regimes. Further multivariate analyses show that the negative impact of ISO 14001 on firm performance is weaker among socially responsible firms and stronger among politically connected firms. These findings contribute to the environmental management literature. They also have practical implications for managers.     

The dynamics of indebtedness in developing countries: The case of the Philippines

The relationships between foreign capital inflows, the build-up of debt, and economic growth in a developing country are analyzed using a system dynamics model of the pertinent processes. The Philippines serves as an empirical case to apply the model. The model incorporates the macro-structure of economic growth, the micro-structure of market-clearing mechanisms, and an accounting of the money flows. The study shows that economic policies enhancing debt-servicing ability create better economic performance than those limiting acquisition of loans. Increasing capital-intensity is the most important part of such policies. They are further facilitated by encouraging investment through decreasing taxes and enhancing demand through increasing government spending and promoting exports. Thus, augmentation of domestic resources by foreign capital inflows appears to be a viable economic strategy.     

Market Reaction to Seasoned Offerings in China

This study examines stock market reaction to the announcement of various forms of seasoned issues in China. Our empirical evidence demonstrates that market reactions differ in ways that suggest a difference between management's internal assessment and the market's assessment of the stock price. The market responds unfavourably to the announcement, notably in the case of rights issues and also with regard to open offers. Private placements experience an unfavourable pre‐announcement reaction, which contrasts with the favourable reaction after the event. Convertible bond issues generate positive excess returns consistent with the market's confidence that they can help to align management and shareholders’ interests. Further investigation shows that market reaction is related to factors specific to the issuer and issue by reference to the period immediately surrounding the issue. Specifically, ownership concentration, agency matters connected with equity offerings, investor protection connected with fund allocation and security pricing, and the influence of powerful moneyed interests together provide an instructive insight into market reaction. Institutional inefficiency pertaining to underwriting, auditing, analysts’ forecasts and credit ratings are found to have a weak association with market price, consistent with due public scepticism concerning management and their gatekeepers.