Role of announcement in the relationship between online search behavior and restructuring performance of hospitality firms: the case of date and restructuring type

Whether or not management can moderate the relationship between online search and the restructuring performance of hospitality firms remains unknown. We conduct an early investigation by distinguishing the heterogeneous effects of different online platforms, human moods, and restructuring types of hospitality firm restructuring. The findings reveal the following: (1) Weekday announcements of hospitality firm restructurings bring greater performance increase for hospitality firms from computer searches, but second-half weekday announcements bring smaller performance increase from mobile searches. (2) Compared with equity transfer between hospitality firms, divestiture results in smaller performance increase for hospitality firms from mobile searches but greater and slower-to-act performance increase from computer searches. By contrast, hospitality firm acquisition brings smaller short-term performance increase from computer searches.