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

页码：990 / 1005

页数：16

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