{"title":"Relationship of Precrisis Financial Decisions With the Financial Distress and Performance of Small- and Medium-Sized Restaurants During COVID-19","authors":"Arun Sharma, Seoki Lee, Michael S. Lin","doi":"10.1177/19389655231178264","DOIUrl":"https://doi.org/10.1177/19389655231178264","url":null,"abstract":"Based on the trade-off theory of capital structure and the information asymmetry theory of business financing, we evaluated the association of informal financing with the financial performance of small- and medium-sized enterprises (SMEs) in the restaurant industry. This study collected survey responses directly from small- and medium-sized restaurant owners (n = 178) during the COVID-19 pandemic. The findings of the study suggested that reliance on “family, friends, relatives, and third-party lenders” for financing was associated with lower financial performance during a crisis for restaurants. Results were robust when controlled for the owner’s gender, business affiliation, firm age, and relative firm size. Furthermore, we also found that the relative firm size of SMEs moderated this relationship such that, for mid-sized firms ($2–5 million annual revenues), the negative association with financial performance was lower than that for smaller firms (<$2 million annual revenue) and larger firms (>$5 million annual revenues). This article theoretically contributes to the literature by investigating the influence of informal financing on a firm’s performance, and the role of relative firm size within the category of SMEs in this relationship. Findings from the study provide practical guidance for SMEs and informal lenders.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45675080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pablo Zoghbi-Manrique-de-Lara, P. Ruiz‐Palomino, Jorge Linuesa-Langreo
{"title":"Compassion in Hotels: Does Person–Organization Fit Lead Staff to Engage in Compassion-Driven Citizenship Behavior?","authors":"Pablo Zoghbi-Manrique-de-Lara, P. Ruiz‐Palomino, Jorge Linuesa-Langreo","doi":"10.1177/19389655231178267","DOIUrl":"https://doi.org/10.1177/19389655231178267","url":null,"abstract":"Existing research on person–organization (P-O) fit (POF) has ignored other-centered mechanisms in explaining why high levels of fit with the work environment increase employee’s organizational citizenship behavior (OCB). Using four factors involved in the compassion process (common humanity, empathic concern, kindness, mindfulness), this article investigates employee compassion as a mediator that explains why POF affects OCB directed toward individuals (OCBI) and the organization (OCBO). Our structural equation modeling analysis on 280 Spanish hotel employees reveals that compassion mediates the relationship between POF and OCBs. However, considering the employment contract of the sample (temporary, permanent), the mediation for OCBO was partial and full among permanent and temporary staff, respectively. These findings suggest that staff who fit their hotel are more likely to be sensitive to others’ setbacks and misfortunes, lessening or alleviating them (compassionately) by performing OCBs. However, compared with permanent staff, temporary staff’s OCBO response to POF is more compassion-driven.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45731352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Service Innovation and Emerging Technologies in Tourism and Hospitality","authors":"Kevin Kam Fung So, X. Li","doi":"10.1177/19389655231166819","DOIUrl":"https://doi.org/10.1177/19389655231166819","url":null,"abstract":"Innovation is complex, uncertain, somewhat disorderly, and subject to changes of many sorts. Innovation is also difficult to measure and demands close coordination of adequate technical knowledge and excellent market judgment in order to satisfy economic, technological, and other types of constraints—all simultaneously. The process of innovation must be viewed as a series of changes in a complete system not only of hardware, but also of market environment, production facilities and knowledge, and the social contexts of the innovation organization. (Kline & Rosenberg, 2009, p. 275)","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65833292","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. O’Neill, Joann Zhao, P. Liu, Michael D. Caligiuri
{"title":"Benchmarking Hotel Investment Risk: Differences Based on Types of Hotels","authors":"J. O’Neill, Joann Zhao, P. Liu, Michael D. Caligiuri","doi":"10.1177/19389655231164061","DOIUrl":"https://doi.org/10.1177/19389655231164061","url":null,"abstract":"Commercial real estate (CRE) investment involves risk, and hotels are perceived as the riskiest CRE assets because of the high turnover of guest room occupants and are the most operation-intensive of all types of CRE properties. Furthermore, that risk may vary significantly across types of hotels based on different dimensions. The existing academic literature regarding CRE investment performance generally lacks such investigation of hotels at the establishment level. The purpose of the current study is to investigate the volatility of operating profit (risk) of different types of hotel assets. Using relative standard deviations of historical performance (gross operating profit [GOP]) to measure hotel risk, we examine various property characteristics and the extent to which they affect the volatility of GOP at the unit level from 2015 through 2020 of over 3,000 U.S. hotel properties. We find that different types of hotels have carried different levels of risk. Specifically, we find significant differences in risk based on hotel brand affiliation status, class, property type, location type, region in which the hotels are located, age of the hotels, size of the hotels, and their occupancy and average daily rate levels. This study provides practitioners and researchers with an understanding regarding the relationships between the risk of different types of hotels, and provides practitioners with information regarding risk and a benchmarking methodology that may be applied to evaluate risk to aid hotel investment decisions. Furthermore, we provide researchers with information regarding various hotel characteristics that may lead to relatively greater/lesser risk.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44296263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Minwoo Lee, Michelle Russen, M. Dawson, Juan M. Madera
{"title":"Enhancing Performance and Perceived Justice in Hospitality Organizations: An Integrated Model of Gender Diversity Within Top Management Teams","authors":"Minwoo Lee, Michelle Russen, M. Dawson, Juan M. Madera","doi":"10.1177/19389655231164063","DOIUrl":"https://doi.org/10.1177/19389655231164063","url":null,"abstract":"Prior research has produced conflicting findings regarding the positive outcomes of having gender diversity within top management teams. These studies have not considered the industry-specific context, the incorporation of binary, agender, and transexual traits, and potential non-financial outcomes, which play a role in organizational performance. Therefore, this paper aims to further this research by offering a research framework that is hospitality specific, highlights the benefits of gender diversity, and delineates the impact of gender diversity on firm performance and organizational justice based upon previous research and theories. The authors introduce potential processes and facilitators influencing the relationship between gender diversity, organizational performance, and organizational justice. These mechanisms have the potential to shape strategic changes, influence employee behaviors, increase service levels, and ultimately provide a competitive advantage.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48491637","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Two-Path Moderated Mediation Model of Customer-Driven Service Innovation","authors":"F. Xu, E. Ma, Yun Zhang","doi":"10.1177/19389655231161182","DOIUrl":"https://doi.org/10.1177/19389655231161182","url":null,"abstract":"This study proposes a moderated mediation model of customer-driven hotel employee service innovations. Building on social exchange and social identity theories, we suggest that positive customer–employee exchanges influence employees’ service innovations via direct and indirect paths. While the reciprocal nature of social exchanges was used to explain the direct path from customer–employee exchange to employees’ service innovation, social identity theory was used to explain the indirect path whereby customers’ inputs shape employees’ creative role identities, thus fostering innovation behaviors. The study further tests how organization openness serves as a boundary condition, and the results support the moderating role of organization openness, suggesting that while positive customer–employee exchanges help shape employees’ self-identification (as being creative) and trigger employees’ service innovation, an open organization encourages employees to actively engage in service innovations.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47041381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Revenue Analytics: The Problem With Fixed-Tier Pricing","authors":"Jing Ma, Z. Schwartz","doi":"10.1177/19389655231152456","DOIUrl":"https://doi.org/10.1177/19389655231152456","url":null,"abstract":"With the widely used fixed-tier computerized pricing system (e.g., based on the best available rate or BAR), fenced discount rates are set and updated as a fixed percentage of the base rate such as the BAR. This intuitive computer-automated solution to a complex pricing issue is, however, theoretically suboptimal. The study demonstrates why the practice of using fixed-tier pricing is suboptimal, showing that this fixed-tier approach is inferior even when the initial set of fenced rates is optimal and even in the unlikely scenario of the various market segments’ demand curves shifting proportionally. As such, practitioners should avoid using a convenient fixed-tier pricing model (BAR-based or not) where only one pricing optimization is run and the rest of the fenced prices are calculated based on this optimized price using fixed percentages. Instead, a fenced-rate pricing system where individual segments are treated independently, and optimizations are run for each segment should be adopted.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47165675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comparison of Customer Reviews for Local and Chain Restaurants: Multilevel Approach to Google Reviews Data","authors":"Beril Yalçinkaya, D. Just","doi":"10.1177/19389655221102388","DOIUrl":"https://doi.org/10.1177/19389655221102388","url":null,"abstract":"Online reviews influence customer decisions and present publicly available data to investigate differences between customer evaluations for local and chain businesses. We conduct a text analysis on a sample of 80,728 online customer reviews of quick-service restaurants to examine how the impact of dining experience attributes on customer evaluation differs between the two restaurant types. Estimation of multilevel multinomial models reveals that customer reviews for local restaurants have less polarized sentiment than chain restaurants. This polarization is also evident for sentiment usage related to four dining experience attributes: food, service, ambience, and price. Although food offerings are essential to get high ratings for local restaurants, service quality has a relatively greater impact on customer satisfaction for chains. Although customer reviews favor local restaurants, they need powerful testimonials for differentiation due to high review valence among their local competitors.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46282500","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"All Over the Map","authors":"J. Tracey","doi":"10.1177/19389655221144539","DOIUrl":"https://doi.org/10.1177/19389655221144539","url":null,"abstract":"I admit to thinking that I have a lot more control over the content that is published in the Cornell Hospitality Quarterly (CHQ) than I actually possess. Indeed, journal editors can have a substantial influence in shaping the knowledge base of a specific topic or field of study. However, authors define and determine the content that is ultimately published. Historically, our journal has attracted the attention of scholars whose work is guided by the industry’s current competitive priorities and grounded firmly within an appropriate explanatory framework. As expected, a great deal of the CHQ’s content has a strong customer orientation and emphasis. However, and reflective of the broad array of competitive priorities, many other stakeholder and industry influences are featured. The current issue exemplifies the wide variance in strategic and operational challenges that keep our industry colleagues up at night. From the influences associated with short-term rental platforms and the legal and ethical implications of using online hospitality data, to consumer attitudes about biometric data and factors that can influence workplace conditions, the featured articles demonstrate the breadth of issues that are acutely relevant for hospitality industry professionals. And while the topics may appear to be all over the map, my sincerest thanks to our authors for pursuing research that aligns with the industry’s wide-ranging needs and reinforces the CHQ’s editorial mission. Enjoy!","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42590042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"“Best Employers”: The Impacts of Employee Reviews and Employer Awards on Job Seekers’ Application Intentions","authors":"Yunxuan (Carrie) Zhang, Cass Shum, Amanda Belarmino","doi":"10.1177/19389655221130741","DOIUrl":"https://doi.org/10.1177/19389655221130741","url":null,"abstract":"While hospitality researchers have examined the impacts of user-generated content on customers, research regarding the impacts of employee reviews on job seekers’ application intentions is scarce. Yet, labor shortages in the hospitality industry have been amplified in recent years. The tight job market requires organizations to use aggressive and proactive recruitment strategies. As online employee reviews can attract both active and passive job seekers, organizations are increasingly advertising their jobs on these sites. This study draws on the elaboration likelihood model (ELM) and tests the boundary condition of work experience on the effects of overall star-ratings and employer awards on job seekers’ application intention. Through an experimental survey, this study sought to fill the gap regarding the impacts of employee-generated star-ratings and employer awards on job seekers’ application intentions. Both star-ratings and employer awards are positively related to organizational prestige. Hospitality work experience moderates the relationship between star-ratings and organizational prestige. The relationship is stronger for novice job seekers than for experienced job seekers. Organizational prestige, in turn, increases job seekers’ application intentions. Our findings extend the recruitment literature and highlight the potential usage of ELM as an explorative framework in hospitality recruitment research. The study also provides suggestions for hospitality employers to attract job seekers.","PeriodicalId":47888,"journal":{"name":"Cornell Hospitality Quarterly","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2022-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41587493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}