The asset-light business model and firm performance in complex and dynamic environments: The dynamic capabilities view

Kwanglim Seo, Linda Woo, Sung Gyun Mun, Jungtae Soh

Research output: Journal article publicationJournal articleAcademic researchpeer-review

4 Citations (Scopus)


Although academic research examining the effects of the asset-light business model continues to grow in the tourism and hospitality literature, the extant studies lack comprehensive theoretical foundations to develop and establish clear quantitative models of analysis. Inconsistent findings from these studies call into question the issue of their exploratory nature. Using the dynamic capabilities view, this study provides a solid conceptual framework that recognizes the asset-light business model as an industry-specific dynamic capability for lodging firms. Furthermore, this study extends recent theoretical accounts on the moderating role of environments in the dynamic capabilities-performance relationship by focusing on the service-oriented and cyclical nature of the tourism and hospitality industry. Incorporating industry-specific performance measures, the current study suggests an alternative approach to the analysis of performance of a lodging firm. The findings also provide important implications to help lodging owners, managers, and investors to strategically cope with complex and dynamic environments.

Original languageEnglish
Article number104311
JournalTourism Management
Publication statusPublished - Aug 2021


  • Asset-light business model
  • Dynamic capabilities
  • Environments
  • Lodging
  • Performance

ASJC Scopus subject areas

  • Development
  • Transportation
  • Tourism, Leisure and Hospitality Management
  • Strategy and Management

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