Abstract
All industries around the world have been greatly impacted by the 2019 COVID-19 outbreak. China’s tourism market was almost suspended. Tourism enterprises generally face difficulties in the form of low capital turnover and increased operating pressure, and the overall tourism industry is showing a downturn in its development. In this study, we construct a quasi-natural experiment with the COVID-19 pandemic in public health emergencies using a propensity score matching difference in differences model (PSM-DID) to match the treatment group of tourism enterprises and the control group of non-tourism enterprises. We empirically test that the COVID-19 pandemic has produced a more severe impact on the performance of tourism enterprises than other industries. Further analysis shows that given different enterprise equity natures, the characteristics of the board, supervision, and executive salary incentive levels, the COVID-19 pandemic has a heterogeneous impact on the operating performance of tourism enterprises.
Subject
Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development
Reference63 articles.
1. The science of complexity in the tourism domain: a perspective article
2. The Global Tourism System;Cornelissen,2017
3. Impact Assessment of the COVID-19 Outbreak on International Tourismwww.unwto.org/impact-assessment-of-the-covid-19-outbreak-on-international-tourism
4. 100% of Global Destinations Now Have COVID-19 Travel Restrictions, UNWTO Reportswww.unwto.org/news/covid-19-travel-restrictions
5. Director Ownership, Governance, and Performance
Cited by
15 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献