Any reputation is a good reputation: influence of investor-perceived reputation in restructuring on hospitality firm performance

Ya-Fei Liu, Hui Li and Sai Liang

Annals of Tourism Research, 2022, vol. 92, issue C

Abstract: This study examines how the performance of restructured hospitality firms is impacted by investor-perceived reputation in restructuring (measured through investors' positive, negative and neutral online reviews), as well as by ‘reputation heterogeneity’ and ‘strategy heterogeneity’. The results indicate that: 1) hospitality firm performance after restructuring increases as investor-perceived reputation increases; 2) a positive reputation consistently increases hospitality firm performance after restructuring, while a negative reputation does not decrease performance; 3) time is needed for negative and neutral reputations to positively impact performance; 4) performance is better for hospitality firms undergoing expansion if they have a positive reputation, for firms undergoing shrinkage if they have a negative reputation, and for firms seeking stabilization if they have a neutral reputation.

Keywords: Hospitality firm performance; Investor-perceived reputation; Event study in asset restructuring; Merger and acquisition; Online review; Text mining with support vector machine (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:anture:v:92:y:2022:i:c:s016073832100205x

DOI: 10.1016/j.annals.2021.103327

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