Why do travel agencies choose to undergo IPOs in Taiwan?

Leo Huang and Michael Chang
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Leo Huang: National Kaohsiung University of Hospitality and Tourism, Graduate Institute of Tourism Management, Taiwan; Yu Da University of Science and Technology, Taiwan
Michael Chang: National Kaohsiung University of Hospitality and Tourism, Graduate Institute of Tourism Management, Taiwan

Tourism Economics, 2018, vol. 24, issue 1, 79-91

Abstract: Travel agencies have seen an increasing number of firms going public in recent years. This study explores and empirically examines the initial public offering (IPO) strategy model for travel agencies by adopting a three-round Delphi research design. Qualitative interviews with the 13 travel agency chief executive officers and related experts provided additional insights. The result shows that Taiwanese travel agencies consider 9 internal motivations, 8 external environment forces, and 11 determinants for the decision to go IPO and 10 performance indicators post-IPO. Finally, the model herein illustrates how travel agencies can realize IPOs’ strategic goals by increasing the performance of travel agency post-IPO.

Keywords: environment force; initial public offerings; motivation; performance; travel agency. (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:24:y:2018:i:1:p:79-91

DOI: 10.1177/1354816617725452

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