旅游业跨境并购活动：空间计量经济学分析

IF 9.9 1区管理学 Q1 HOSPITALITY, LEISURE, SPORT & TOURISM

International Journal of Hospitality Management Pub Date : 2025-05-12 DOI:10.1016/j.ijhm.2025.104238

Muhammad Farooq Ahmad , Christos Alexakis , Saqib Aziz , Konstantinos Eleftheriou

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引用次数: 0

摘要

旅游业是国际经济中最大的部门之一，占全球GDP的10.3%，而跨境并购（M& a）活动占外国直接投资（FDI）流量总额的42 - 45%。然而，人们对旅游活动对跨境并购活动的影响程度知之甚少。我们对来自34个国家的3849笔 并购交易的样本采用了空间计量经济学框架，以检验旅游活动在旅游业跨境并购中的作用。研究结果表明，旅游活动降低了投资的不确定性。此外，文化距离对旅游作为并购活动渠道的作用产生负面影响。

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Cross-border mergers and acquisitions activity in the tourism industry: A spatial econometrics analysis

The tourism industry is one of the largest sectors of the international economy with a 10.3 percent share in global GDP while cross-border mergers and acquisitions (M&A) activity contributes 42–45 percent to aggregate foreign direct investment (FDI) flows. However, little is known about the extent to which tourism activity may affect cross-border M&A activity. We employ a spatial econometrics framework over a sample of 3849 M&A transactions from 34 countries to examine the role of tourism activity in cross-border M&A in the tourism sector. Our results indicate that tourism activity reduces M&As investment uncertainty. In addition, cultural distance negatively affects tourism’s role as a channel for M&A activity.

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来源期刊

International Journal of Hospitality Management HOSPITALITY, LEISURE, SPORT & TOURISM-

CiteScore

21.20

自引率

9.40%

发文量

218

审稿时长

85 days

期刊介绍： The International Journal of Hospitality Management serves as a platform for discussing significant trends and advancements in various disciplines related to the hospitality industry. The publication covers a wide range of topics, including human resources management, consumer behavior and marketing, business forecasting and applied economics, operational management, strategic management, financial management, planning and design, information technology and e-commerce, training and development, technological developments, and national and international legislation. In addition to covering these topics, the journal features research papers, state-of-the-art reviews, and analyses of business practices within the hospitality industry. It aims to provide readers with valuable insights and knowledge in order to advance research and improve practices in the field. The journal is also indexed and abstracted in various databases, including the Journal of Travel Research, PIRA, Academic Journal Guide, Documentation Touristique, Leisure, Recreation and Tourism Abstracts, Lodging and Restaurant Index, Scopus, CIRET, and the Social Sciences Citation Index. This ensures that the journal's content is widely accessible and discoverable by researchers and practitioners in the hospitality field.