Examining Ownership Equity as a Psychological Factor on Tourism Business Failure Forecasting - Publikacja - MOST Wiedzy

Wyszukiwarka

Examining Ownership Equity as a Psychological Factor on Tourism Business Failure Forecasting

Abstrakt

This paper examines ownership equity as a predictor of future business failure within the tourism and hospitality sectors. The main goals of this study were to examine which ratios are the most important for a tourism business failure forecasting model and how significant is the “total percentage of equity ownership by company directors” ratio compared with other ratios associated with the probability of bankruptcy. A stepwise weight assessment ratio analysis (SWARA) was applied, and 12 tourism bankruptcy experts evaluated key ratios. Total percentage of equity ownership by company directors is considered a psychological factor, and it was identified as the fourth most important ratio for a business failure forecasting model. Academicians and practitioners can use the findings of this study whenever developing a forecasting model for tourism and hospitality enterprises.

Cytowania

  • 0

    CrossRef

  • 0

    Web of Science

  • 0

    Scopus

Informacje szczegółowe

Kategoria:
Publikacja w czasopiśmie
Typ:
artykuły w czasopismach
Opublikowano w:
Frontiers in Psychology nr 10, strony 1 - 9,
ISSN: 1664-1078
Język:
angielski
Rok wydania:
2020
Opis bibliograficzny:
Korol T., Spyridou A.: Examining Ownership Equity as a Psychological Factor on Tourism Business Failure Forecasting// Frontiers in Psychology -Vol. 10, (2020), s.1-9
DOI:
Cyfrowy identyfikator dokumentu elektronicznego (otwiera się w nowej karcie) 10.3389/fpsyg.2019.03048
Bibliografia: test
  1. Alaka, H. A., Oyedele, L. O., Owolabi, H. A., Kumar, V., Ajayi, S. O., Akinade, O. O., et al. (2018). Systematic review of bankruptcy prediction models: towards a framework for tool selection. Expert Sys. Appl. 94, 164-184. doi: 10.1016/j. eswa.2017.10.040 otwiera się w nowej karcie
  2. Altman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. J. Finance 23, 589-609. doi: 10.1111/j.1540-6261.1968. tb00843.x Amankwah-Amoah, J. (2016). An integrative process model of organisational failure. J. Bus. Res. 69, 3388-3397. doi: 10.1016/j.jbusres.2016.02.005 otwiera się w nowej karcie
  3. Amankwah-Amoah, J., and Wang, X. (2019). Business failures around the world: emerging trends and new research Agenda. J. Bus. Res. 98, 367-369. doi: 10. 1016/j.jbusres.2019.02.064 otwiera się w nowej karcie
  4. Barreda, A., Kageyama, Y., Singh, D., and Zubieta, S. (2016). Hospitality bankruptcy in United States of America: a multiple discriminant analysis-logit model comparison. J. Qual. Assur. Hosp. Tour. 18, 1-21. doi: 10.1080/1528008X. 2016.1169471 otwiera się w nowej karcie
  5. Beaver, W. (1967). Financial ratios predictors of failure. J. Account. Res. 4, 71-111. otwiera się w nowej karcie
  6. Bucevska, V. (2011). An analysis of financial crisis by an early warning system model: the case of the EU candidate countries. Bus. Econ. Horiz. 4, 13-26. doi: 10.15208/beh.2011.2 otwiera się w nowej karcie
  7. Christofides, C., Eicher, T. S., and Papageorgiou, C. (2016). Did established Early warning Signals predict the 2008 crises? Eur. Econ. Rev. 81, 103-114. doi: 10.1016/j.euroecorev.2015.04.004 otwiera się w nowej karcie
  8. Cox, D. (1958). The regression analysis of binary sequences. J. R. Stat. Society. Series B (Methodol.) 20, 215-242. otwiera się w nowej karcie
  9. Ebi, K. L. (2007). Towards an early warning system for heat events. J. Risk Res. 10, 729-744. doi: 10.1080/13669870701447972 otwiera się w nowej karcie
  10. Farrell, J., and Shapiro, C. (1990). Horizontal mergers: an equilibrium analysis. Am. Econ. Rev. 80, 107-126. otwiera się w nowej karcie
  11. Fotiadis, A., Abdulrahman, K., and Spyridou, A. (2019a). The mediating role of psychological autonomy, competence and relatedness on work life balance and well-being. Front. Psychol. 10:1267. doi: 10.3389/fpsyg.2019.01267 otwiera się w nowej karcie
  12. Fotiadis, A., Nuryyev, G., Achyldurdyyeva, J., and Spyridou, A. (2019b). The impact of EU sponsorship, size, and geographic characteristics on rural tourism development. Sustainability 11, 1-15. doi: 10.3390/su11082375 otwiera się w nowej karcie
  13. Garcia Martinez, M., Zouaghi, F., Garcia Marco, T., and Robinson, C. (2019). What drives business failure? Exploring the role of internal and external knowledge capabilities during the global financial crisis. J. Bus. Res. 98, 441-449. doi: 10.1016/j.jbusres.2018.07.032 otwiera się w nowej karcie
  14. Garcia-Gallego, A., Mures-Quintana, M.-J., and Vallejo-Pascual, M. E. (2015). Forecasting statistical methods in business: a comparative study of discriminant and logit analysis in predicting business failure. Glob. Bus. Econ. Rev. 17, 76-92. doi: 10.1504/GBER.2015.066534 otwiera się w nowej karcie
  15. Gemar, G. (2019). Predicting bankruptcy in resort hotels: a survival analysis. Int. J. Contemp. Hosp. Manag. 31, 1546-1566. doi: 10.1108/IJCHM-10-2017- 0640 otwiera się w nowej karcie
  16. Gémar, G., Moniche, L., and Morales, A. J. (2016). Survival analysis of the Spanish hotel industry. Tour. Manag. 54, 428-438. doi: 10.1016/j.tourman.2015.12.012 otwiera się w nowej karcie
  17. Getz, D., and Carlsen, J. (2005). Family business in tourism: state of the art. Ann. Tour. Res. 32, 237-258. doi: 10.1016/j.annals.2004.07.006 otwiera się w nowej karcie
  18. Ghenai, C., Albawab, M., and Bettayeb, M. (2020). Sustainability indicators for renewable energy systems using multi-criteria decision-making model and extended SWARA/ARAS hybrid method. Renew. Energy 146, 580-597. doi: 10.1016/j.renene.2019.06.157 otwiera się w nowej karcie
  19. Hashemkhani Zolfani, S., Yazdani, M., and Zavadskas, E. K. (2018). An extended stepwise weight assessment ratio analysis (SWARA) method for improving criteria prioritization process. Soft Comput. 22, 7399-7405. doi: 10.1007/ s00500-018-3092-2 otwiera się w nowej karcie
  20. Hodari, D., Turner, M. J., and Sturman, M. C. (2017). How hotel owner-operator goal congruence and GM autonomy influence hotel performance. Int. J. Hosp. Manag. 61, 119-128. doi: 10.1016/j.ijhm.2016.11.008 otwiera się w nowej karcie
  21. Inmaculada, J. G. (2017). Trend of financial ratios in the business failure process. Int. Res. J. Adv. Eng. Sci. 2, 66-77. otwiera się w nowej karcie
  22. Ionela, S. A. (2014). Early warning systems -anticipation's factors of banking crises. Procedia Econ. Finance 10, 158-166. doi: 10.1016/s2212-5671(14) 00289-5 otwiera się w nowej karcie
  23. Jang, S., and Park, K. (2011). Hospitality finance research during recent two decades: subject, methodologies, and citations. Int. J. Contemp. Hosp. Manag. 23, 479-497. doi: 10.1108/09596111111129995 otwiera się w nowej karcie
  24. Kaur, I. (2015). Early warning system of currency crisis: insights from global financial crisis 2008. IUP J. Appl. Econ. 14, 69-83.
  25. Kim, H., and Gu, Z. (2006). Predicting restaurant bankruptcy: a logit model in comparison with a discriminant model. J. Hosp. Tour. Res. 30, 474-493. doi: 10.1177/1096348006290114 otwiera się w nowej karcie
  26. Kim, H., Kim, J., and Gu, Z. (2012). An examination of US hotel firms' risk features and their determinants of systematic risk. Int. J. Tour. Res. 14, 28-39. doi: 10.1002/jtr.828 otwiera się w nowej karcie
  27. Kimmel, R. K., Thornton, J. H., and Bennett, S. E. (2016). Can statistics-based early warning systems detect problem banks before markets? N. Am. J. Econ. Finance 37, 190-216. doi: 10.1016/j.najef.2016.04.004 otwiera się w nowej karcie
  28. Frontiers in Psychology | www.frontiersin.org otwiera się w nowej karcie
  29. Klieštik, T., Kočišová, K., and Mišanková, M. (2015). Logit and probit model used for prediction of financial health of company. Procedia Econ. Finance 23, 850-855. doi: 10.1016/S2212-5671(15)00485-2 otwiera się w nowej karcie
  30. Korol, T. (2012). Warning Systems of Enterprises Against the Risk of Bankruptcy - Artificial Intelligence in Financial Management. Saarbrucken: LAP Lambert Academic Publishing. otwiera się w nowej karcie
  31. Korol, T. (2013). Early warning models against bankruptcy risk for Central European and Latin American enterprises. Econ. Model. 31, 22-30. doi: 10. 1016/j.econmod.2012.11.017 otwiera się w nowej karcie
  32. Lado-Sestayo, R., Vivel-Búa, M., and Otero-González, L. (2016). Survival in the lodging sector: an analysis at the firm and location levels. Int. J. Hosp. Manag. 59, 19-30. doi: 10.1016/j.ijhm.2016.08.005 otwiera się w nowej karcie
  33. Law, R., Leung, K., and Wong, R. (2004). The impact of the internet on travel agencies. Int. J. Contemp. Hosp. Manag. 16, 100-107. doi: 10.1108/ 09596110410519982 otwiera się w nowej karcie
  34. Lee, W. S., Moon, J., Lee, S., and Kerstetter, D. (2015). Determinants of systematic risk in the online travel agency industry. Tour. Econ. 21, 341-355. doi: 10.5367/ te.2013.0348 otwiera się w nowej karcie
  35. Lin, F., Liang, D., Yeh, C.-C., and Huang, J.-C. (2014). Novel feature selection methods to financial distress prediction. Expert Sys. Appl. 41, 2472-2483. doi: 10.1016/j.eswa.2013.09.047 otwiera się w nowej karcie
  36. Meyer, P. A., and Pifer, H. W. (1970). Prediction of bank failures. J. Finance 25, 853-868. doi: 10.2307/2325421 otwiera się w nowej karcie
  37. Mihalovič, M. (2016). Performance comparison of multiple discriminant analysis and logit models in bankruptcy prediction. Econ. Soc. 9, 101-118. doi: 10.14254/ 2071-789X.2016/9-4/6 otwiera się w nowej karcie
  38. Mykhayliv, D., and Zauner, K. G. (2017). The impact of equity ownership groups on investment: evidence from Ukraine. Econ. Model. 64, 20-25. doi: 10.1016/j. econmod.2017.03.005 otwiera się w nowej karcie
  39. Nik, P. A., Jusoh, M., Shaari, A. H., and Sarmdi, T. (2016). Predicting the probability of financial crisis in emerging countries using an early warning system: artificial neural network. J. Econ. Coop. Dev. 37, 25-40.
  40. Ohlson, J. (1980). Financial ratios and the probabilistic prediction of bankruptcy. J. Account. Res. 18, 109-131. otwiera się w nowej karcie
  41. Park, S.-S., and Hancer, M. (2012). A comparative study of logit and artificial neural networks in predicting bankruptcy in the hospitality industry. Tour. Econ. 18, 311-338. doi: 10.5367/te.2012.0113 otwiera się w nowej karcie
  42. Pereira, M. J., Basto, M., and Ferreira-da-Silva, A. (2017). Comparing logit model with discriminant analysis for predicting bankruptcy in Portuguese hospitality sector. Eur. J. Tour. Res. 16, 276-280.
  43. Power, S., Di Domenico, M., and Miller, G. (2017). The nature of ethical entrepreneurship in tourism. Ann. Tour. Res. 65, 36-48. doi: 10.1016/j.annals. 2017.05.001 otwiera się w nowej karcie
  44. Ribeiro, M. T., Singh, S., and Guestrin, C. (2016). "Why should I trust you?": explaining the predictions of any classifier. arXiv [Preprint]. arXiv:1602.04938 otwiera się w nowej karcie
  45. Shin, D. H., and Bartolacci, M. (2007). A study of MVNO diffusion and market structure in the EU, US, Hong Kong, and Singapore. Telematics Inform. 24, 86-100. doi: 10.1016/j.tele.2005.11.003 otwiera się w nowej karcie
  46. Shin, D.-H., and Song, H.-R. (2012). The switchover to digital broadcasting in Korea. Technol. Forecast. Soc. Change 79, 1447-1461. doi: 10.1016/j.techfore. 2012.04.017 otwiera się w nowej karcie
  47. Shkurti, R., and Duraj, B. (2010). Using multiple discriminant analysis in the bankruptcy prediction in Albania -a study with the state-owned enterprises. J. Acad. Res. Econ. 2, 36-64.
  48. Smith, L., Rees, P., and Murray, N. (2016). Turning entrepreneurs into intrapreneurs: thomas cook, a case-study. Tour. Manag. 56, 191-204. doi: 10. 1016/j.tourman.2016.04.005 otwiera się w nowej karcie
  49. Tang, L. (2014). The application of social psychology theories and concepts in hospitality and tourism studies: a review and research agenda. Int. J. Hosp. Manag. 36, 188-196. doi: 10.1016/j.ijhm.2013.09.003 otwiera się w nowej karcie
  50. Thai Siew, B., and Abdollahi, M. (2013). Corporate failute prediction: malaysia's emerging market. Int. J. Finance 25, 7985-8011.
  51. Ucbasaran, D., Shepherd, D. A., Lockett, A., and Lyon, S. J. (2012). Life after business failure: the process and consequences of business failure for entrepreneurs. J. Manag. 39, 163-202. doi: 10.1177/0149206312457823 otwiera się w nowej karcie
  52. Valenti, A., and Schneider, M. (2012). Exploring the effects of managerial ownership on the decision to go private: a behavioral agency model approach. Adm. Issues J. Connect. Edu. Pract. Res. 2, 40-55. otwiera się w nowej karcie
  53. Verikas, A., Kalsyte, Z., Bacauskiene, M., and Gelzinis, A. (2010). Hybrid and ensemble-based soft computing techniques in bankruptcy prediction: a survey. Soft Comput. 14, 995-1010. doi: 10.1007/s00500-009-0490-5 otwiera się w nowej karcie
  54. Wang, S., Hung, K., and Huang, W.-J. (2019). Motivations for entrepreneurship in the tourism and hospitality sector: a social cognitive theory perspective. Int. J. Hosp. Manag. 78, 78-88. doi: 10.1016/j.ijhm.2018.11.018 otwiera się w nowej karcie
  55. Zhang, H., Amankwah-Amoah, J., and Beaverstock, J. (2019). Toward a construct of dynamic capabilities malfunction: insights from failed Chinese entrepreneurs. J. Bus. Res. 98, 415-429. doi: 10.1016/j.jbusres.2018.06.020 otwiera się w nowej karcie
  56. Zigraiova, D., and Jakubik, P. (2015). Systemic event prediction by an aggregate early warning system: an application to the Czech republic. Econ. Sys. 39, 553-576. doi: 10.1016/j.ecosys.2015.04.004 otwiera się w nowej karcie
Źródła finansowania:
Weryfikacja:
Politechnika Gdańska

wyświetlono 15 razy

Publikacje, które mogą cię zainteresować

Meta Tagi