The COVID-19 lessons learned for business and governance

Eklund, Mehtap Aldogan

doi:10.1007/s43546-020-00029-2

Cited by 16 publications

(11 citation statements)

References 14 publications

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“…Moreover, air-conditioning for casual well-being could dress bacterial and viral infections. To spread infections, tourism and social and sexual activities are a perfect match for spreading diseases in the short-term or long-term [ 39 , 40 ].…”

Section: Overview Of Some Shocks To Public Health and Tourist Arrivalsmentioning

confidence: 99%

“…Second-line implications for society recognise possible future shocks in tourist arrivals due to viral infections and the emergence of diseases which will likely include HIV/AIDS and COVID-19. Both have been confirmed as significant future risks and threats to the tourism economy and public health, especially HIV/AIDS, which is recognised as the fourth researched threat in tourism [ 40 , 50 , 51 , 52 ].…”

Section: Delimitations and Limitationsmentioning

confidence: 99%

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Did Human Microbes Affect Tourist Arrivals before the COVID-19 Shock? Pre-Effect Forecasting Model for Slovenia

Gričar

Bojnec

2022

IJERPH

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In 2020, with a substantial decline in tourist arrivals slightly before the time of COVID-19, the innovative econometric approach predicted possible responses between the spread of human microbes (bacteria/viruses) and tourist arrivals. The article developed a conceptually tested econometric model for predicting an exogenous shock on tourist arrivals driven by the spread of disease using a time series approach. The reworked study is based on an autoregressive integrated moving average (ARIMA) model to avoid spurious results. The periods of robust empirical study were obtained from the data vectors (i) from January 2008 to December 2018 and (ii) from January 2008 to December 2020. The data were obtained from the National Institute of Public Health (NIPH) and the Statistical Office of the Republic of Slovenia. The ARIMA model predicted the number of declines in tourist arrivals for the approaching periods due to the spread of viruses. Before the outbreak of COVID-19, pre-pandemic results confirmed a one-fifth drop in tourist arrivals in the medium term. In the short term, the decline could be more than three-quarters. A further shock can be caused by forecasted bacterial infections; less likely to reduce tourist demand in the long term. The results can improve the evidence for public health demand in risk reduction for tourists as possible patients. The data from the NIPH are crucial for monitoring public health and tourism management as a base for predictions of unknown events.

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Section: Overview Of Some Shocks To Public Health and Tourist Arrivalsmentioning

confidence: 99%

Section: Delimitations and Limitationsmentioning

confidence: 99%

Did Human Microbes Affect Tourist Arrivals before the COVID-19 Shock? Pre-Effect Forecasting Model for Slovenia

Gričar

Bojnec

2022

IJERPH

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“…Corporate social responsibility (CSR) and its positive impact on society have become a priority alongside profit maximisation (Koutoupis et al, 2021). The importance of sustainable HRM during the pandemic was rethought by many researchers and practitioners (Davidescu, et al, 2020;Eklund, 2021;Shan &Tang, 2020;Lopez-Cabrales & Valle-Cabrera, 2020;Lopez-Cabrales & DeNisi, 2021).…”

Section: Introductionmentioning

confidence: 99%

Ensuring sustainable human resource management during the COVID-19 pandemic: The case of Lithuanian catering organisations

Savanevičienė¹,

Salickaitė-Žukauskienė²,

Šilingienė³

et al. 2022

Economics &Amp; Sociology

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The COVID-19 pandemic-induced work challenges have hit the catering organisations particularly hard worldwide. Lockdown suspended business activities, and uncertainty about the future alarmed both catering companies and their employees. The principles of sustainable human resource management (HRM) declared by the organisations have been put to test in critical conditions. The aim of the paper was to reveal the challenges faced by the catering organisations during the COVID-19 pandemic in the field of sustainable HRM and the way they were addressed. Qualitative in-depth interviews with the representatives of Lithuania’s catering service sector responsible for human resource management were carried out in order to explore how sustainable HRM has been ensured in their organisations. The research showed that state support played a critical role, which, especially when faced with the first wave of the COVID-19 pandemic, was crucial in helping to preserve businesses and to retain employees by ensuring the conditions for continuous sustainable HRM development in the future.

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“…For instance, the global pandemic has proved that risk should be part of the executive compensation schemes. Scholars are currently debating on the COVID-19 (Coronavirus) risk, as systematic risk and its impacts on executive compensation schemes and corporate governance structures (Delves et al, 2020;Donthu and Gustafsson, 2020;Eklund, 2021;Eklund and Stern, 2021;Ganu et al, 2020;Newbury et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

Does risk matter for executive compensation?

Eklund

2021

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Purpose The purpose of this study is to examine whether chief executive officer (CEOs) are paid for the systematic and/or unsystematic risks and whether there is any optimum risk premium level in the executive pay. Design/methodology/approach Firm and year fixed effect panel data regression was used to estimate the relationship between total CEO compensation and systematic (market) and unsystematic (firm) risks. Findings There is no nexus between CEO pay and unsystematic (diversifiable) risk; however, the association between CEO compensation and systematic (undiversifiable) risk is positively significant in line with agency theory. Moreover, it is revealed that this positive relationship has an optimum point (curvilinear). Research limitations/implications This paper contributes to the controversial argument in the literature by investigating the situation in the Swiss market. Switzerland is an exemplary country because of its direct democracy (consensus) structure for executive pay. This study is limited by the fact that only total CEO compensation is analyzed. Practical implications As a practical implication, it is shown that after the optimal point, the higher compensation does not motivate the CEOs to take higher risks and does not provide the organizations with any additional benefit. Originality/value The finding of this study supports agency theory’s risk premium assumption and provides additional evidence to the contradictory results in the literature with a new country setting that has paramount importance in executive compensation phenomena. It is a comparative finding with prior literature also outlines the future research area in the risk and compensation literature.

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The COVID-19 lessons learned for business and governance

Cited by 16 publications

References 14 publications

Did Human Microbes Affect Tourist Arrivals before the COVID-19 Shock? Pre-Effect Forecasting Model for Slovenia

Did Human Microbes Affect Tourist Arrivals before the COVID-19 Shock? Pre-Effect Forecasting Model for Slovenia

Ensuring sustainable human resource management during the COVID-19 pandemic: The case of Lithuanian catering organisations

Does risk matter for executive compensation?

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