Communication about corporate social responsibility practices and return on equity

We have analysed the importance of companies’ corporate social responsibility (CSR) and how the relationship between CSR and financial performance has been scientifically studied. It is clear that the literature offers contradictory results. This debate is particularly relevant in the hotel sector due to the intense relationship and dependency this industry has on its environmental setting. This paper has shown a neutral relationship between the CSR and return on equity (ROE), which means introducing CSR measures stop short of having a negative effect on shareholders’ profits. Therefore, based on the results of this study, we encourage the hotel sector to introduce CSR practices into its strategy, as CSR produces new competitive advantages that have neutral effects on financial performance. The conclusions were not different once we distinguished between family or non family firms. One of the most common excuses business owners and executives use to justify having no CSR policies is that they cannot afford to spend money on these activities, as they will affect their companies’ profitability. This study has demonstrated that CSR has a neutral relationship with ROE, and, consequently, other benefits (e.g. reputation and competitiveness) will arise from applying those practices, without weakening ROE.&nbsp

Influence of the gender of the president in the longevity of the company

La Agenda 2030 para el Desarrollo Sostenible de las Naciones Unidas establece en su objetivo número cinco el logro de la igualdad de género y el empoderamiento de la mujer. Sin embargo, el porcentaje de mujeres presentes en los consejos de administración de las principales empresas españolas es del 46% y sólo un 17% en la alta dirección de las empresas españolas, según el índice Stuart Spencer 2022. El género en la literatura académica de la supervivencia de los negocios ha sido tratado en contadas ocasiones. El objetivo de esta investigación consiste en determinar si el género del propietario influye en la supervivencia del negocio. En la investigación realizada se examinaron 400 empresas españolas durante trece años para estudiar su supervivencia, empleando datos financieros y de gestión, así como el género del presidente de la compañía. La metodología aplicada fue un modelo de duración: regresión de Cox con empates. Los resultados confirman que las empresas con presidente mujer presentan mejores índices de supervivencia. Este hecho confirma estudios anteriores y pone en valor el papel de la mujer como presidente de la compañía.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tec

Influence of cultural distance on the internationalisation of Spanish hotel companies

This paper analyses a study of the influence of “cultural distance” on the internationalisation of Spanish hotel companies. To define “cultural distance” we rely on Gesteland’s model which allows measurement of this for each destination. Interpretation of the behaviour of people in a given country involves certain especially relevant variables. We refer to the variables deal-focus or relationship-focus cultures, formal or informal cultures, rigid-time or fluid-time cultures and expressive or reserved cultures.As a goal, we propose to discover if these have a measurable influence, how “cultural distance” affects choice of a destination at which to internationalise a chain, and if countries chosen by Spanish hoteliers are more culturally compatible with Spain. The results of this study support the conclusion that cultural distance should be taken into account in studies of internationalisation of hotels.Plasmamos en este trabajo un estudio sobre la influencia de la “distancia cultural” en la internacionalización de la empresa hotelera española. Paradefinir la “distancia cultural” nos basamos en el “modelo de Gesteland” que se presenta como idóneo para medirla en cada destino. La interpretación de las conductas de las personas de un determinado país hace que determinadas variables cobren especial relevancia. Nos referimos a variables como culturas orientadas al negocio o a la relación, formales o informales, flexibles o rígidas con el tiempo y culturas expresivas o reservadas. Como objetivo, planteamos descubrir si influye y hasta qué punto lo hace la distancia cultural en la elección de un destino para internacionalizar una cadena hotelera y si los países que están eligiendo los hoteleros españoles son los más compatibles culturalmente. Los resultados de este estudio permiten, poder concluir que la distancia cultural se debe tener en cuenta en los estudios de internacionalización hotelera

The impact of family business strategies on hotel room prices

This paper seeks to address the lack of empirical research on family businesses in the Spanish hotel industry. Through a hedonic price model applied to Malaga hotels, this study assessed the impact on hotel room prices of whether or not a hotel is a family business. The results show that, when being a family-business hotel is considered, this has a negative impact on prices of about €10. The results are discussed based on a combined approach of profitability, brand and price strategies, which offers several ways to interpret the research outcomes. A first option is that Malaga family businesses follow a strategy of cost leadership. The second option is heavy brand investment by Malaga family hotels. Another option is that customers consider the family hotels of this destination unprofessional compared with non-family hotels

Text mining social media for competitive analysis

Social media are utilised widely. Companies increasingly use socialmedia to communicate and interact with customers. Muchinformation is thereby generated and is available to everybody,including competitors. Firms need to analyse what their customerssay and interact with them. Using text mining tools, companies canknow where they are in relation to their competitors and controlthe behaviour of these. Transforming text into data and data intoknowledge can be vital to make the right decisions and improvingthe competitive strategy of companies.This study used a text mining tool to analyse the primary socialmedia sites, including Twitter, Facebook, LinkedIn, YouTube andothers, with a focus on a sample of hotels. The dimensions analysedwere sentiments, passion and reach. A dependence was foundbetween several variables obtained through text mining andfinancial performance. The results indicate that analysis of socialmedia using these techniques can be a method to improve financialperformance

Impact of the April Fair on Seville hotel room prices: Measurement through a hedonic approach

Despite its importance as a tourist attraction, sparse research regarding tourism and hospitality has been focused on Seville’s April Fair. That is why the main purpose of this paper is to assess the impact the April Fair and other key elements have on hotels, using the well-known hedonic price model and a database of 1,548 items compiled using TripAdvisor. The results suggest that although the April Fair has a significant and positive effect on the prices of hotel rooms, these results are mixed during the fair. Specifically, the effects of the April Fair can be felt during the weekdays when fairgoers add to those visiting the city on business. However, during the weekend, fair prices do not differ from a non-April day fair. In addition, prices on Sunday Fair are lower than average prices on non-April Fair days. This has important implications for both hotels and organisers of the event. In addition, the results show how the category begins to lose importance in relation to the assessment of the quality perceived by customers. Some implications and solutions are discussed below

Retos estratégicos de la industria hotelera española del siglo XXI: horizonte 2020 en países emergentes

This paper analyses the evolution of the Spanish hotel industry at theinternational level, aiming at the identification of its challenges for theyear 2020. Strategic management lies at the core of our analysis, andmore specifically “Strategic Logic”, a tool that allows a prospectiveanalysis in terms of investment returns. We specify different strategicgroups within the hotel industry, and its global positioning. Inaddition, we pay special attention to emerging countries, taking intoaccount variables such that quality and product and servicesinnovation. We advocate the use of cluster analysis to better define thefuture strategic behaviour of hotel firms. This cluster analysis is basedon technologies defining the strategic resources of firms. We find thatthe survival success of hotel firms is directly related to their presencein emerging countries as well as their integration in groups andalliances. Both aspects yield satisfactory return rates using strategiclogic criteria.Plasmamos en este trabajo un estudio sobre la evolución de laindustria hotelera española a nivel internacional, en aras a identificarlos retos de actuación en el horizonte 2020. Nos basamos para ello enel uso de la “Lógica Estratégica” que permite un análisis deprospectiva en términos de rentabilidad de inversiones.Especificamos, dentro de la industria hotelera en países emergentes,los diferentes grupos estratégicos y su posicionamiento en un entornoglobal. Para ello valoramos variables intrínsecas diferenciadoras, lainnovación en productos y servicios, y considerando la calidad comosinónima de excelencia empresarial. Un análisis clúster permitedefinir los comportamientos futuros de las empresas hoteleras, dentrode la industria, sobre la base de unas tecnologías que configuran losrecursos estratégicos de estas empresas. Los resultados de esteestudio permiten aseverar que la supervivencia empresarial de laindustria hotelera pasa, no solo por la formación de grupos y alianzas,sino además por el posicionamiento en entornos emergentes

Analysis of the intent to purchase travel on the web

The role of the Internet in the development of global markets offers a valuable object of study. This is especially true for tourism, both because of its contribution to the Spanish economy and because its intangible nature makes the Internet the most effective distribution channel for it. To help companies differentiate their websites, this work proposed a model of purchase intention, which includes the determinants of that intention. Cluster analysis was performed on a representative sample to sort potential and current consumers of online travel into groups based on their perceptions of the factors of the model. While young consumers see purchasing tourism-related services on the Internet as easy and cost-effective, contrary results are obtained for the elderly. However, the perceived risk is relevant for most individuals. In order to optimise the benefits of e-commerce, companies must build strategies that meet the expectations of each type of clien

Family and non-family business behaviour in the wine sector: A comparative study

El propósito de este estudio es explorar las principales diferencias en las variables clave de las empresas vitivinícolas en vista de su consideración como una empresa familiar en España. Utilizando una base de datos de 520 bodegas con las principales variables utilizadas en la literatura, este trabajo analiza las diferencias entre ser una bodega familiar o no familiar sobre el desempeño, el tamaño y la estructura de la deuda. Las empresas fueron clasificadas como familiares o no familiares, para posteriormente realizar un test de medias para todas las variables clave entre ambos grupos. Este estudio sugiere que existen diferencias significativas entre las empresas familiares y las no familiares en la rentabilidad económica (ROA) y en el margen de beneficios, que son mayores en el caso de empresas clasificadas como empresas familiares y en la relación de deuda y deuda relativa, los cuales son más altas en compañías consideradas no familiares. Las variables restantes son estadísticamente iguales. Los mejores márgenes en las empresas familiares podrían deberse a las ventajas en los precios derivados de los productos o marcas ofrecidas o a los menores costes de agencia que pueden conducir a una mejora en los costes de gestión, lo que explica tales diferencias. Además, la menor exposición al riesgo que llevaría a las empresas familiares a optar por fórmulas de apalancamiento menos riesgosas que conducirían a un aumento de la financiación a largo plazo podría explicar por qué estas ventajas no se reflejan en la rentabilidad financiera (ROE).The purpose of this study is to explore the main differences in key variables of winemaking companies in view of their consideration as a family business in Spain. Using a database of 520 wineries with the main variables used in the literature, this paper analyses the differences between being a family or a non-family winery on the performance, size and structure of debt. The companies were classified as family or non-family then a means test was performed for all key variables between both groups. This study suggests that there are significant differences between family and non-family businesses in the return on assets (ROA) and in the operating margin, which are higher in the case of companies classified as family businesses and in the relative debt and debt ratio, which are higher in companies considered to be non-family. The remaining variables are statistically equal. Better margins in family companies could be due to advantages in the prices derived from the products or brands offered or lower agency costs that may lead to an improvement in management costs, which explains such differences. In addition, the lower risk exposure that would lead family businesses to opt for less risky leverage formulas that would lead to increased long-term financing could explain why these advantages are not reflected in the return on equity (ROE)