Intending to clear space for rigorous integrative research bridging theory and research across East and West, we highlight four conclusions from exceptional data on the networks around Chinese entrepreneurs: (1) The broker networks associated with business success in the West are also associated with success in China; (2) The trust correlates of closed networks in the West are similarly correlated in China; (3) History and trust proven in events emerge as especially important to the Chinese entrepreneurs; (4) High-quality network data on Chinese business leaders are a practical reality. We use the results to define a network perspective on guanxi ties that can be common ground for integrating results across East and West, and guide future research on the role networks play in Chinese business.
The COVID-19 pandemic has resulted in an unprecedented slowdown of economic activity worldwide, with an especially negative impact on the tourism sector. The adoption of international travel restrictions to contain the spread of the COVID-19 outbreak has brought much of the global tourism industry to a virtual standstill. Governments have introduced a range of economic stimulus packages designed to mitigate the negative effects of the pandemic, including its impact on travel and tourism. This article investigates whether the size of the tourism sector influences the economic policy response to COVID-19 pandemic using data from 136 countries. The findings show that the larger the tourism sector, the larger the economic stimulus package introduced by governments globally. Furthermore, we find that the size of the tourism sector is positively associated with both fiscal and monetary policy responses to the pandemic. The findings suggest that countries with larger tourism sectors adopted more aggressive economic stimulus packages to mitigate the impact of COVID-19 pandemic and reinvigorate floundering economies.
Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website.Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre -including this research content -immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
This study examines whether the level of a country's resilience to shocks moderates the link between the size of the tourism industry and the economic policy response to the COVID-19 pandemic using data from 113 countries. The findings suggest that countries with large tourism sectors responded more aggressively by using economic stimulus packages to mitigate the impact of the COVID-19 pandemic; however, the impact of the tourism sector is moderated by the country's resilience to shocks. The study also finds that both high level of economic resilience and high level of risk quality of a country moderate the link between the tourism sector and the economic policy response to the COVID-19 pandemic. The findings of the study suggest that tourism businesses in high resilient countries are better prepared to cope with the disruptive challenges posed by the COVID-19 pandemic and thus needed less assistance from governments. Improving a country's resilience to shocks is an important strategy to minimize the impact of future negative shocks in the tourism sector.
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