Tourism Firms' Vulnerability to Risk: The Role of Organizational Slack in Performance and Failure

被引：22
|
作者：
Zheng, Chen [1 ]
Li, Zezeng [2 ]
Wu, Jialin [3 ]
机构：
[1] Edge Hill Univ, Business Sch, Ormskirk, Lancs, England
[2] Queen Mary Univ London, Sch Business & Management, London, England
[3] Univ Huddersfield, Business Sch, Huddersfield HD1 3DH, W Yorkshire, England
来源：
JOURNAL OF TRAVEL RESEARCH | 2022年 / 61卷 / 05期
关键词：
firm-level political risk; business failure; organizational slack; firm performance; tourism vulnerability; POLITICAL RISK; DISCRIMINANT-ANALYSIS; BUSINESS STRATEGY; RESOURCES; UNCERTAINTY; LEVEL; TERRORISM; DIVERSIFICATION; DETERMINANTS; CAPABILITIES;
D O I：
10.1177/00472875211014956
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study explores the influence of political risk on firms in the tourism industry. It addresses a research gap regarding the impact of political risk on firm-level performance and failure and uncovers the role of organizational slack in this relationship. Firm-level political risk is estimated from 2002 to 2019 financial data for firms across six tourism sectors in a developed economy, the United States. Such risk is found to be significantly associated with firm performance and business failure. From the perspectives of the resource-based view and the threat-rigidity hypothesis, the results support the moderating effects of absorbed and unabsorbed slack on links between risk, performance, and business failure. Given that the COVID-19 pandemic has highlighted the tourism industry's vulnerability, this study will be of interest to tourism firms seeking to improve business sustainability and resilience.
引用
收藏
页码：990 / 1005
页数：16
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