Disruptive innovation, innovation adoption and incumbent market value: The case of Airbnb

被引：52
|
作者：
Zach, Florian J. [1 ]
Nicolau, Juan L. [1 ]
Sharma, Abhinav [1 ]
机构：
[1] Virginia Tech, Howard Feiertag Dept Hospitality & Tourism Manage, Pamplin Coll Business, Blacksburg, VA 24061 USA
来源：
ANNALS OF TOURISM RESEARCH | 2020年 / 80卷
关键词：
Disruptive innovation; Innovation adoption; Market value; Incumbent response; Peer-to-peer lodging; Event study; TO-PEER ACCOMMODATION; RADICAL INNOVATION; STOCK-MARKET; TOURISM; TECHNOLOGY; MODEL; PERFORMANCE; KNOWLEDGE; FRAMEWORK; RETURNS;
D O I：
10.1016/j.annals.2019.102818
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The purpose of this article is to analyze the market value impact of actions taken in response to disruptive innovation; specifically, actions that incumbent lodging firms implement to adopt the innovation of peer-to-peer trading-based accommodation rental. As incumbent firms need to device strategies to accommodate the disruption stemming from a new entrant with a disruptive business model, we analyze the differentiated efforts of four incumbent lodging firms to compete with the peer-to-peer lodging firm Airbnb. This study is the first to quantify the effects of innovation on incumbent tourism firms challenged by a disruptive entrant. It finds that adoption speeds, that is first vs. late adoption, make a difference as the former are awarded a significant increase in market value.
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页数：12
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