技术创新对旅游上市公司经济韧性的影响——基于信号理论

自2023年开始，中国旅游市场可以说是百花齐放，市场复苏成效显著，到2024年我国旅游业的主基调依旧是“快速复苏”并逐步转向“理性繁荣”。在复苏阶段中旅游企业如何将“流量”变“存量”，如何为企业减轻负担，更迅速地完成复苏，进入繁荣阶段成为企业面临的问题。文章从旅游企业现状出发，总结其所面临的四类问题，并提出科学有效的应对策略，旨在为旅游企业应对相关问题提供参考。

数字经济背景下，企业数字化转型成为学术界关注的重点。数字化转型对企业创新有何影响？本文以2010~2022年沪深A股上市公司为研究样本，通过固定年份、行业、省份效应构建多元回归模型，实证检验数字化转型对企业创新产出和创新效率的影响及其机理。研究发现：数字化转型显著提升了企业创新产出和创新效率，该结论在考虑内生性问题和经过系列稳定性检验之后仍然成立；数字化转型可以通过提升企业组织韧性进而增强企业创新能力；环境不确定性可以调节数字化转型与企业创新之间的基准回归，还可以调节组织韧性的中介效应。

在“十四五”规划明确提出加快发展数字经济的政策背景下，传统旅游业迎来了数字化转型的重要战略机遇期。研究基于产业韧性理论框架，系统探究数字经济赋能旅游业韧性提升的作用机理与实现路径。通过深入分析数字经济对旅游业抵御风险能力、恢复发展能力和转型升级能力的三维影响机制，研究发现：数字经济不仅通过优化资源配置增强行业抗风险能力，还能借助数字技术加速市场复苏，并通过创新商业模式激发产业活力。进一步地，文章识别出制约数字经济赋能效应的关键因素，据此提出多层次政策建议：一是构建旅游数据要素市场体系，促进数据资源高效流动；二是推动数字技术与旅游消费需求精准对接；三是完善数字化人才培养机制；四是创新制度设计，强化政策协同效应。本研究为数字经济时代旅游业高质量发展提供了理论依据和实践参考。

Computers are now involved in many economic transactions and can capture data associated with these transactions, which can then be manipulated and analyzed. Conventional statistical and econometric techniques such as regression often work well, but there are issues unique to big datasets that may require different tools. First, the sheer size of the data involved may require more powerful data manipulation tools. Second, we may have more potential predictors than appropriate for estimation, so we need to do some kind of variable selection. Third, large datasets may allow for more flexible relationships than simple linear models. Machine learning techniques such as decision trees, support vector machines, neural nets, deep learning, and so on may allow for more effective ways to model complex relationships. In this essay, I will describe a few of these tools for manipulating and analyzing big data. I believe that these methods have a lot to offer and should be more widely known and used by economists.

Purpose Technological disruptions such as the Internet of Things and autonomous devices, enhanced analytical capabilities (artificial intelligence) and rich media (virtual and augmented reality) are creating smart environments that are transforming industry structures, processes and practices. The purpose of this paper is to explore critical technological advancements using a value co-creation lens to provide insights into service innovations that impact ecosystems. The paper provides examples from tourism and hospitality industries as an information dependent service management context. Design/methodology/approach The research synthesizes prevailing theories of co-creation, service ecosystems, networks and technology disruption with emerging technological developments. Findings Findings highlight the need for research into service innovations in the tourism and hospitality sector at both macro-market and micro-firm levels, emanating from the rapid and radical nature of technological advancements. Specifically, the paper identifies three areas of likely future disruption in service experiences that may benefit from immediate attention: extra-sensory experiences, hyper-personalized experiences and beyond-automation experiences. Research limitations/implications Tourism and hospitality services prevail under varying levels of infrastructure, organization and cultural constraints. This paper provides an overview of potential disruptions and developments and does not delve into individual destination types and settings. This will require future work that conceptualizes and examines how stakeholders may adapt within specific contexts. Social implications Technological disruptions impact all facets of life. A comprehensive picture of developments here provides policymakers with nuanced perspectives to better prepare for impending change. Originality/value Guest experiences in tourism and hospitality by definition take place in hostile environments that are outside the safety and familiarity of one’s own surroundings. The emergence of smart environments will redefine how customers navigate their experiences. At a conceptual level, this requires a complete rethink of how stakeholders should leverage technologies, engage and reengineer services to remain competitive. The paper illustrates how technology disrupts industry structures and stimulates value co-creation at the micro and macro-societal level.

The importance of virtuousness in organizations has recently been acknowledged in the organizational sciences, but research remains scarce. This article defines virtuousness and connects it to scholarly literature in organizational science. An empirical study is described in which the relationships between virtuousness and performance in 18 organizations are empirically examined. Significant relationships between virtuousness and both perceived and objective measures of organizational performance were found. The findings are explained in terms of the two major functions played by virtuousness in organizations: an amplifying function that creates self-reinforcing positive spirals, and a buffering function that strengthens and protects organizations from traumas such as downsizing.

This study examines how tourism companies in emerging markets respond to economic and geopolitical risks using a comprehensive panel data approach. Data from 23 tourism companies listed on the Istanbul Stock Exchange (BIST) between the first quarter of 2012 and the first quarter of 2025 were analyzed to assess their financial performance amid macroeconomic shocks and regional crises. The analysis addressed ‘multiple crisis’ scenarios such as the Russia–Turkey plane crisis, the COVID-19 pandemic, and a significant earthquake in 2023. Panel regression results reveal that financial leverage (LEV) and GDP growth have a significant and statistically meaningful impact on profitability and stock performance compared to sectoral volume indicators (number of tourists and spending). The findings emphasize that tourism companies are highly sensitive not only to sectoral demand but also to overall economic confidence and macroeconomic stability. This study highlights that adopting flexible capital structures is essential for corporate resilience in uncertain times.

This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, the authors review the implications of neoclassical growth theory and the more recent theories of ‘endogenous growth.’ Then they discuss the empirical evidence that bears on the modeling of long-run growth. Finally, the authors describe in more detail a model of growth based on endogenous technological progress and discuss the lessons that such models can teach us.

Purpose Within a very short period of time, the worldwide pandemic triggered by the novel coronavirus has not only claimed numerous lives but also caused severe limitations to daily private as well as business life. Just about every company has been affected in one way or another. This first empirical study on the effects of the COVID-19 crisis on family firms allows initial conclusions to be drawn about family firm crisis management. Design/methodology/approach Exploratory qualitative research design based on 27 semi-structured interviews with key informants of family firms of all sizes in five Western European countries that are in different stages of the crisis. Findings The COVID-19 crisis represents a new type and quality of challenge for companies. These companies are applying measures that can be assigned to three different strategies to adapt to the crisis in the short term and emerge from it stronger in the long run. Our findings show how companies in all industries and of all sizes adapt their business models to changing environmental conditions within a short period of time. Finally, the findings also show that the crisis is bringing about a significant yet unintended cultural change. On the one hand, a stronger solidarity and cohesion within the company was observed, while on the other hand, the crisis has led to a tentative digitalization. Originality/value To the knowledge of the authors, this is the first empirical study in the management realm on the impacts of COVID-19 on (family) firms. It provides cross-national evidence of family firms' current reactions to the crisis.

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The key difference between signalling and human capital models is that signalling models allow firms to draw inferences about unobserved characteristics of workers. Those inferences can be based on the schooling or work experience of workers, or on direct measures of some aspects of job performance. Many recent empirical findings can be better explained by signalling models than by human capital theory. Given the explanatory power of signalling models, standard estimates of the social return to secondary schooling are in large part capturing differences in affective traits, such as perseverance, which were acquired either in primary school or at home.

Purpose In a move characterized by ambiguity, Facebook changed its name to Meta in October 2021, announcing a new era of social interaction, enabled by the metaverse technology that appears poised to become the future center of gravity for online social interactions. At first glance, the communicated change signals a radically new business model (BM) based on an unprecedented configuration of the three following components: value creation, value proposition and value capture. The purpose of this paper is to analyze Facebook’s announced changes in its BM to clarify whether the change is as radical as communicated or rather represents an incremental transformation of the current BM. Design/methodology/approach This investigation adopted an in-depth case study research method. The process included using a structured approach to collect 153 data points, including academic studies and publicly available information, followed by qualitative content analysis. Findings The results of our analysis of Facebook’s entrepreneurial journey indicate that the communicated strategic refocusing does not correspond to a radical BM innovation pattern. Even though Facebook’s BM might evolve into the innovation phase, as the current changes appear very futuristic, the authors estimate that the core elements of the BM will change incrementally. The investigation indicates that the underlying logic of the straightforward communicative efforts primarily serves two purposes: to improve the external perception of the company and to disseminate an internal change signal within the organization. Originality/value This paper is the first study that takes an entrepreneurship and BM perspective in analyzing Facebook’s approach in rebranding to Meta and refocusing its strategy on building the metaverse. The academic and practical relevance, as well as the potential future impact on business and society, makes the investigation of this case an intriguing prospect. Additionally, the study illuminates the difference between the communicated vision and the real impact on the business, suggesting critical questions about future large-scale rebranding efforts and their effects.

The aim of the presented study was to evaluate the effects of education and research and development (R&D) on tourism spending in a sample of OECD countries. The analyses were performed on the basis of data on tourism spending and data on education and R&D. The research included 36 OECD countries, which were analysed for the period 2010-2019. Robust estimation was used in the panel data models. The results revealed the effect of R&D on leisure tourism spending (R&DLTS) and the effect of R&D on visitor exports (foreign spending) (R&DVEFS) with positive coefficients. On this basis, it can be concluded that improvements in R&D can lead to increased leisure tourism spending as well as foreign spending. The countries such as Latvia, Chile, the Slovak Republic, Mexico, Lithuania, Turkey, Poland, Greece, Estonia, and Hungary have a great potential for an improvement in R&D, which may also result in a growth of tourism spending. The research was focused on the macroeconomic perspective of education and R&D and their effect on tourism spending as key economic indicators. The study provides interesting findings that are useful for policy makers in revitalizing the tourism sector through the effective implementation of policies and strategies aimed at increasing tourism spending. The study also enriches and contributes to the knowledge about the relationships between economic development and the development of the tourism sector.