COVID-19, government measures and hospitality industry performance

Aharon, David Y.; Jacobi, Arie; Cohen, Eli; Tzur, Joseph; Qadan, Mahmoud

doi:10.1371/journal.pone.0255819

Cited by 45 publications

(44 citation statements)

References 60 publications

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“…We find evidence that government intervention can have a moderating effect on the impact of COVID‐19 on firm performance. The result is in line with Aharon et al ( 2021 ), wherein they document that government intervention to control the pandemic had a more adverse effect on firms belonging to a few sectors. Further, Shen et al ( 2020 ) also found that the impact of the coronavirus pandemic on performance was greater for firms operating in high‐impact industries as their operations were affected due to government restrictions.…”

Section: Resultssupporting

confidence: 89%

“…On the contrary, Jiang et al ( 2014 ) find that firms bailed out by the government during GFC had lower recovery rates than those bailed out by other stakeholders of firms. More recently, Aharon et al ( 2021 ), in their study of the US hospitality industry find that government intervention during the coronavirus pandemic was negatively related to stock returns.…”

Section: Introductionmentioning

confidence: 99%

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Can R&D investment reduce the impact of COVID‐19 on firm performance?—Evidence from India

Biswas

2021

Journal of Public Affairs

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This study examines whether investing in R&D reduces the impact of exogenous shocks like the COVID‐19 on stock market performance and accounting performance of manufacturing firms in India. For the sample of listed manufacturing firms, the paper finds that the firms engaged in R&D activities had lower negative cumulative abnormal return than those firms that did not invest in R&D in the pre‐pandemic period using multiple event windows. The result suggests that R&D investments can lower value erosion for the shareholders during a severe crisis period. Further, using a difference‐in‐difference fixed effects model, the study finds that manufacturing firms engaged in R&D activities in the pre‐pandemic period exhibited higher return on sales and growth of total income during the pandemic quarter vis‐à‐vis the non‐R&D firms. The favorable accounting performance indicates the possibility of firm‐level R&D being associated with the firm's ability to adjust its functioning during a crisis, thereby reducing the effect of the crisis. Finally, the study documents that government intervention to reduce the spread of the virus had a differential impact on firms based on their industry of operation. The findings have implications for investors, corporate managers, and policymakers in India.

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Section: Resultssupporting

confidence: 89%

Section: Introductionmentioning

confidence: 99%

Can R&D investment reduce the impact of COVID‐19 on firm performance?—Evidence from India

Biswas

2021

Journal of Public Affairs

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“…Based on a survey of forty-six countries, Villacé-Molinero et al (2021) concluded that in the context of a pandemic, the trust in the local government's messages about personal safety was the principal consideration for visitors in making travel decisions. However, communication from the U.S. government is also found to be a source of uncertainty and mistrust throughout the COVID-19 pandemic ( Aharon et al, 2021 ). Thus, Americans' confidence in governmental advisory and their international travel intentions is a valuable topic that must be explored in follow-up studies.…”

Section: Discussionmentioning

confidence: 99%

“…The number of international trips taken by Americans decreased by 66.4% in 2020, compared to the same twelve-month period in 2019 ( Hepple, 2021 ). The uncertainty associated with the pandemic itself was exacerbated by the uncertainty in American government communications, resulting in financial consequences to tourism and hospitality ( Aharon et al, 2021 ).…”

Section: Introductionmentioning

confidence: 99%

Marketing messages for post-pandemic destination recovery- A Delphi study

Singh¹,

Nicely²,

Day³

et al. 2022

Journal of Destination Marketing & Management

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What is the best way to communicate with American outbound visitors as the travel recommences after the COVID-19 pandemic? This timely study aimed to find answers to this question faced by many destinations. To this end, ideas were sought from industry and academic experts on what message features may positively influence American visitors international travel intentions following the COVID-19 pandemic. Three rounds of conventional Delphi research delivered fifteen message features, eight of which attained panel consensus. These included COVID-related features such as safety , accurate pandemic information , a show of open outdoor spaces , and building visitor confidence along with destination-related features including positive destination attributes, authentic local experience, locals support , and reminder of joys of travel . Each message feature is discussed in detail with implications to the prescribed context.

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“…The implementation of the policy was aimed at encouraging an increase in tourist visits, the recovery of the tourism sector and an increase in the productivity of economic enterprises. Thus, policy support from the government is needed in order to avoid economic bankruptcy, particularly in small and medium enterprises (SMEs), and it can be implemented by strengthening technological capabilities and investment support [78,79].…”

mentioning

confidence: 99%

Travel-Business Stagnation and SME Business Turbulence in the Tourism Sector in the Era of the COVID-19 Pandemic

Surya

Hernita²,

Salim

et al. 2022

Sustainability

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The COVID-19 pandemic, apart from having an impact on public health, has also caused the stagnation of travel-bureau businesses and the management of small and medium enterprises (SMEs) in the tourism sector. This study aims to analyze the COVID-19 pandemic as a determinant of travel-business stagnation and turbulence in small and medium enterprises (SMEs), the influence of human resources, business development, and product marketing on the productivity of the travel and SME business, the direct and indirect effects of business innovation, economic digitization, and the use of technology on business stability and economic-business sustainability. This study uses an explanatory sequential qualitative–quantitative approach. Data were obtained through observation, in-depth interviews, surveys, and documentation. This study is focused on assessing the efforts made by travel-agency-business actors and SMEs in responding and adapting to changes in the business environment, both internally and externally. Human resources, business development, and product marketing together affect the productivity of travel agents and SMEs with a coefficient of determination of 95.84%. Furthermore, business innovation, economic digitization, and the use of technology simultaneously affect business stability with a coefficient of determination of 63.8%, and business stability affects the sustainability of travel and SMEs with a coefficient of determination of 67.6%. This study recommends a strategy for travel-agency-business sustainability and the stability of SMEs’ economic-business management towards increasing economic growth in the North Toraja Regency, South Sulawesi, Indonesia.

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COVID-19, government measures and hospitality industry performance

Cited by 45 publications

References 60 publications

Can R&D investment reduce the impact of COVID‐19 on firm performance?—Evidence from India

Can R&D investment reduce the impact of COVID‐19 on firm performance?—Evidence from India

Marketing messages for post-pandemic destination recovery- A Delphi study

Travel-Business Stagnation and SME Business Turbulence in the Tourism Sector in the Era of the COVID-19 Pandemic

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