TY - JOUR
T1 - Role of announcement in the relationship between online search behavior and restructuring performance of hospitality firms
T2 - the case of date and restructuring type
AU - Liu, Ya Fei
AU - Li, Hui
AU - Liang, Sai
AU - Law, Rob
N1 - Funding Information:
This work was supported by the National Natural Science Foundation of China [71971124, 71932005], the Liberal Arts Development Fund of Nankai University (ZB21BZ0106), the One Hundred Talents Program of Nankai University (63213023), the Humanities and Social Science Fund of Ministry of Education of China [20YJC630075], and the Graduate?s Excellent Award Program of China Tourism Academy [ZX202000091].
Publisher Copyright:
© 2021 Asia Pacific Tourism Association.
PY - 2021/9
Y1 - 2021/9
N2 - 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.
AB - 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.
KW - announcement date
KW - hospitality firms
KW - merger and acquisition
KW - Online search behavior
KW - restructured performance
KW - restructuring type
UR - https://www.scopus.com/pages/publications/85109187027
U2 - 10.1080/10941665.2021.1940225
DO - 10.1080/10941665.2021.1940225
M3 - Journal article
AN - SCOPUS:85109187027
SN - 1094-1665
VL - 26
SP - 988
EP - 1006
JO - Asia Pacific Journal of Tourism Research
JF - Asia Pacific Journal of Tourism Research
IS - 9
ER -