Search results

This paper identifies and models the effect of eight attributes that influence hotel room rents in India. These attributes are conceptually grouped into three factors: (1) site factors including the presence or absence of a “swimming pool,” “free breakfast,” and the “hotel capacity”; (2) situational factors including, “distance from the airport,” “weekend/weekday,” “city population,” “cost of living”; and (3) a reputation factor indicated by “star rating.” Our regression model uses secondary data collected from a hotel booking website for 570 hotels across 18 cities of India. The results indicate that six out of these eight variables namely, presence of swimming pool, free breakfast, hotel capacity, distance from the airport, city population, and hotel star rating have a significant impact on hotel room rents in India.

Tourism, as a system, develops strategies for risk prevention and mitigation. The shock generated by the COVID-19 pandemic is different when compared with previous events because it is more intense and prone to structural changes. Tourists' perceptions condition their behaviour and decisions, with adverse results on travel and tourism consumption; and hygiene and health risks generate a cause-effect relationship on destination specificities.

From globalisation to risk perception and crisis management, in a framework where technology, communication and digital content represent undeniable importance, we are facing circumstances especially conducive to the redesign of the collective future, where the sustainability of tourism is a collective goal, arising from the right balance between the competitiveness of destinations and climate action.

Given the prospects for the next decade, health and hygiene are structural factors to be considered in decision-making processes. Thus, so the proposed approach contributes to the awareness, by the various stakeholders, of its importance and the need to implement methods and processes compatible with more inclusive and responsible tourism.

We study the events that motivate CEOs to underinvest in R&D long-term projects (CEO myopia). Based on the existing literature in earnings management and agency theory, myopia is likely to become more problematic under five circumstances: when the CEO nears retirement (the CEO horizon problem), R&D projects have very long time horizons (the project horizon problem), the firm’s financial health is deteriorating (the cover-up problem), ownership structure is heavily weighted toward insider owners (minority owner oppression problem), and when the threat of hostile takeover increases (the entrenchment problem). We setup a dynamic simulation model in which rational CEOs maximize the total value of their bonus compensation over their tenure. Our findings related to the five circumstances are consistent with the extant literature. However, we found an unexpected stable, nonlinear (inverted U-shaped) relationship between CEO tenure and R&D investment. We discuss the theoretical implications of our model and offer suggestions for future research.

This chapter tests theoretically and empirically the existence of a stable relationship between energy consumption and CO2 emissions. Based on microeconomics and physics, a model has been specified and applied to annual data for twenty countries, which representing 61 percent of the world’s population in 2018, over the period 1995–2015. The data are from the International Energy Agency (2019) and econometric techniques including panel data and causality tests have been used. The results indicate that there is a causal relationship between energy consumption and CO2 emissions. In general, consumers cannot directly change emissions caused by production processes, but they can act on emissions caused by their own domestic energy consumption. Approximately three quarters of domestic energy consumption is due to heating and domestic hot water consumption. Taking into account the lower emissions and the lower economic cost of the initial investment, four potential energy systems have been selected for use in heating and domestic hot water. Their social returns have been assessed across nine of the twenty countries in the sample over a lifecycle of 25 years from 2018: France, Portugal, Ireland, Spain, Iceland, Germany, United Kingdom, Morocco and the United States. Cost-benefit analysis techniques have been used for this purpose and the results indicate that the use of thermal water, where applicable, is the most socially profitable system among the proposed systems, followed by natural gas. The least socially profitable systems are those using electricity.

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this includes the resources that the person has already invested. This is called sunk cost bias in the behavioural economics literature. On the other hand, mental practices could lead to the mental accounting bias, where people allocate a different value to a fixed amount of money, depending on circumstances.

Purpose: In this chapter, both biases mental accounting and sunk cost are investigated for the tourism industry in Turkey.

Methodology: The topic is researched through scenario-based questions and the Chi-square Automatic Interaction Detector (CHAID) method is applied.

Findings: As a result, it could be reported that people, regardless of gender, fall into sunk cost and mental accounting biases in decisions relating to their vacations. Mental accounting biases can be primarily explained using the scenario questions posed rather than gender, education, and income while sunk cost bias is explained by status, ‘being s university student’ and ‘income level’.

Practical implications: Rapid price changes in the tourism industry can disturb consumers who are mental accounting and sunk cost biased. So, they can change their holiday preferences or be dissatisfied with it and give negative feedback.

The increasing threat of global warming and climate change has been a major worldwide concern for more than two decades. As the achievement of sustainable economic growth has gradually become a major global concern both policy makers and researchers have given considerable attention over the years on the link among energy consumption, emissions and economic growth. In this study, following a solovian growth structure, the authors assume that the aggregate output depends on the stock of physical as well as human capital and energy or power. Depending on the sources, the energy can be categorised into cleaner input generated from renewable sources and a dirty input extracted from non-renewable resources having by-products like pollution. This study finds that less-developed countries (LDCs) failing to afford sufficient access to clean energy which in turn has deleterious impact on the human capital which cascades into low level of production, low saving and low per capita output forming a vicious loop. On the other side, the developed nations are better poised with access to clean energy and this is what is reflected in having larger reserve of human capital yielding higher production, higher income, higher saving and higher per capita capital stock in a circular process. This hence posits a clinching picturing divergence in per capital output and income between developed and less-developed nation mediated through degree of access to clean energy and thereof, the capacity to control emission. The convergence situation between the developed and the less-developed nations shows that each ends up with the relative energy mix below the threshold and it is not desirous for the world as a whole. In case of per capita emission, the divergence situation with the global level of emission is bit ambiguous.

This chapter discusses the use of an extended stage model for the evaluation of the adoption of e-business in small and medium-sized enterprises (SMEs). Empirical studies of e-business adoption are rare in Middle Eastern and developing countries and the chapter provides valuable insight into this region, by presenting an account of the use of the extended stage model to explore the level of e-business adoption among Yemeni SMEs.

In making this examination, the challenges and opportunities that accompany e-business adoption are revealed. The internal drivers and barriers, such as finance and skills, are recognised along with the external factors that include infrastructure and legislation. It also provides valuable insight into the macro-level sociopolitical determinants of e-business adoption that have not previously been appreciated; the study was undertaken during the Yemen Civil War in 2016.

Current adoption models imply that organisations adopt technologies in a linear fashion, gradually increasing complexity and capability. This study makes an important contribution by recognising that there are multiple points at which SMEs may ‘enter’ the technology-adoption ladder.

One of the most important economic processes in the world economy over the recent decades has been increasing fragmentation of international production that resulted in expansion of global value chains (GVCs). National economies started to get involved in GVCs in order to get value-added gains from this participation; Russia is not an exception. To analyze Russia’s GVCs participation, we need to adopt new statistical methodology based on input–output approach that allows estimating trade flows in terms of value added, including foreign and domestic value added as parts of gross exports. The author comes to the conclusion that Russia’s participation in GVCs was growing during the last decades mostly by forward participation connected with supply of oil and gas along GVC; moreover, Russia had net gains from this participation. Future trends in Russia’ involvement in GVCs can be described by two scenarios. The first one is based on expanding forward manufacturing participation in order to increase and diversify nonoil exports. This scenario is strongly supported by Russian Federation Ministry for Economic Development. The second scenario covers the continuation of mineral participation in GVCs that Russia implements till now. Both scenarios have their pro and contra. The author argues that the first scenario is better correlated with long-term economic interests and possibilities for sustainable development in Russia.