Market Structure, Conduct, and Performance of Star Hotels in North Sumatra, Indonesia

Nababan, Tongam Sihol; Panjaitan, Raya; Panjaitan, Ferry; Siregar, Robert Tua; Sudirman, Acai

doi:10.22452/ijie.vol15no1.5

Cited by 4 publications

(4 citation statements)

References 38 publications

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“…Struktur pasar persaingan merupakan bentuk analisis penting dalam ekonomi industri pariwisata. Struktur pasar setiap bisnis, baik yang melibatkan barang atau jasa, sangat penting, karena memungkinkan untuk mengidentifikasi intensitas persaingan dan ukuran relatif perusahaan yang ada di pasar (Nababan, Panjaitan, Panjaitan, Siregar, & Sudirman, 2023). Tujuan ideal dari persaingan dalam ilmu ekonomi adalah persaingan yang sempurna (perfect competition), dimana pasar kompetitif dan ukuran perusahaan relatif sama dalam persaingan.…”

Section: Struktur Pasar Persainganunclassified

Utilitas Ragam Media Digital dan Stuktur Persaingan Pasar antar Desa Wisata di Kawasan Perbukitan Menoreh

Budisusila

Handoko

2023

IJTL

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The results of previous research on tourism digitization tend to legitimize the success of optimizing tourism digitization. These studies use the "single case" of tourist villages and digital platforms. Digitalization is not fully effective in supporting tourism performance. The purpose of this research is to reveal the utility of various digital media and tourist destinations in the structure of market competition. This study uses descriptive qualitative research methods. The study found that village tourism types are categorized into mass, live-in and religious tourism. All villages vary digital media in dissimilar preferences. Market structure analysis ensures that a small number of tourist villages become market leaders-forming monopoly market structure, while the majority are peripheral tourism villages. Digital multimedia options and types of tours are placed to win the performance. Four digitization and performance patterns are stated as effective, ineffective, not yet effective, and not digitalized. In mass tourism, multimedia is too effective in supporting the position of market leader. In live-in and religious tourism villages, it was found to be ineffective and not digitized, but the characteristics of these two types of villages need another performance review approach. This study suggests important policies are needed to improve market structure.

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Section: Struktur Pasar Persainganunclassified

Utilitas Ragam Media Digital dan Stuktur Persaingan Pasar antar Desa Wisata di Kawasan Perbukitan Menoreh

Budisusila

Handoko

2023

IJTL

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“…The hotel industry is commonly characterized in the economic literature as a case of oligopolistic competition (Aguiló et al, 2003;Aznar,2021;Nababan et al, 2023). However, the academic literature on the market concentration effects on prices, market power or profitability for the hotel industry is limited (Pan, 2005;Gan and Hernandez, 2013;Lado-Sestayo et al, 2013).…”

Section: Introductionmentioning

confidence: 99%

“…Among others, hedonic prices have been used to analyze the housing market (Herath and Maier,2010), restaurants (Yim et al, 2014) and fair-trade coffee (Schollenberg, 2012), to mention a few examples. This paper focuses on the hospitality industry, characterized by product differentiation (Aznar,2021;Nababan et al,2023). Hotels differ in location and the quality and variety of services they offer tourists.…”

Section: Introductionmentioning

confidence: 99%

The moderating effect of seasonality in the hotel industry. Does market concentration favour tacit collusion?

Aznar

2024

EJTR

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Market concentration is associated with higher prices. However, previous research has not considered whether the market concentration effect on prices is moderated by seasonality in markets where firms switch from peak demand to low demand periods. This study analyzes market concentration effect on prices and price variability in the hotel industry. Through hedonic price models, the paper analyzes the influence of market concentration on hotel prices and how quality, distance to the city center or seasonality influence hotel prices. A higher market concentration is associated with higher prices. The effect of market concentration on prices is 1.7 times higher in the peak demand season than in the low demand season. Price variability between hotels for a given day in a particular market is partially explained by differences in service quality among hotels in the same city but also by the level of market concentration. We find that higher market concentration reduces price variability, a result consistent with the existence of tacit collusion.

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“…(Santulli et al, 2021). Performance refers to how well a company is doing in comparison to its competitors in the market (Nababan et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

How Does Tobin’s Q Respond to Merger and Acquisition Announcements: Evidence of Listed Indian Firms

Bhargave¹,

Tandon²

2023

J. Professional Business Review

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Purpose: The aim of this study is to examine the linkage between mergers and acquisition announcements and firm’s valuation taking into consideration Tobin’s q. Theoretical framework: The Q theory of investment propounded by James Tobin (1969) is suitable for the present study. According to this theory, there is a significant correlation between a company's market value and its rate of investment. Following this, indicators of the relative potential profitability of investments are the valuations that are placed in financial markets on the securities of companies as ratios to the costs of replacing their assets, which is denoted by q. Design/methodology/approach: The current investigation examines Tobin's q distribution for 140 listed firms on the Bombay Stock Exchange from 2011 to 2022. Tobin’s q is calculated for the financial service sector of the Indian economy. Findings: The results study suggests that Stock markets react significantly to the valuation of Indian firms due to M&A announcements in the category of non-banking financial companies. More specifically, 40 companies have a high Tobin’s q ratio in the full sample of firms. According to the findings, the majority of M&A announcements had no effect on the Tobin's q of the sampling companies. This indicates that the stocks of companies operating in the financial services sector are not affected by news of mergers and acquisitions. It demonstrates that the Indian capital market responded normally to information on mergers and acquisitions. Research, Practical & Social implications: The study helps financial analysts, top-level management, and stakeholders of a company to correctly evaluate the impact of mergers and acquisitions announcements on Tobin’s q of firms as a performance measurement metric. Originality/value: The value of the study can be evaluated from the fact that it investigates the relationship between mergers and acquisitions announcements and Tobin's q as a crucial parameter for corporate valuation, which is the first of its kind for emerging economies.

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Market Structure, Conduct, and Performance of Star Hotels in North Sumatra, Indonesia

Cited by 4 publications

References 38 publications

Utilitas Ragam Media Digital dan Stuktur Persaingan Pasar antar Desa Wisata di Kawasan Perbukitan Menoreh

Utilitas Ragam Media Digital dan Stuktur Persaingan Pasar antar Desa Wisata di Kawasan Perbukitan Menoreh

The moderating effect of seasonality in the hotel industry. Does market concentration favour tacit collusion?

How Does Tobin’s Q Respond to Merger and Acquisition Announcements: Evidence of Listed Indian Firms

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