Browsing by Author "Ruiz-Moreno, Felipe"

Now showing 1 - 7 of 7
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    A motivation-based study to explain accommodation choice of senior tourists: Hotel or Airbnb
    Nicolau, Juan Luis; Rodríguez-Sánchez, Carla; Ruiz-Moreno, Felipe (Elsevier, 2024-10-01)
    Senior tourists, traditionally known for using offline methods and staying in hotels, are increasingly using new technologies and opting for alternative accommodation forms. Based on the push and pull theory of motivation, the generational cohort and lifespan development theories, this study fills a gap in the literature and examines senior tourists’ choice between Airbnb and hotels. A random parameter binomial logit applied to data from six European countries finds that the same motivation can act differently in this decision choice process. Rather than assuming that a motivation has an exclusive effect on each accommodation type, we propose the notion of a “differential fulfillment paradigm” to reflect the idea that two accommodation types can relate to the same motivation with different approaches. While both hotels and Airbnb can fulfill a common motivation, they do so through distinct features or attributes, offering consumers diverse avenues to achieve their desired outcome.
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    Asymmetric rivalry between strategic groups: Response, speed of response and ex ante vs. ex post competitive interaction in the Spanish bank deposit market
    Mas-Ruiz, Francisco J.; Nicolau, Juan Luis; Ruiz-Moreno, Felipe (Wiley, 2005-08-01)
    The objective of this study is to examine asymmetric rivalry between strategic groups in a given industry. Two research hypotheses argue for the existence of asymmetric rivalry in the sense that strategic groups of small companies have a greater degree of response but a slower speed of response to the actions of strategic groups of large companies, than vice versa. To test this, we use an ex post approach that examines the news releases published on the strategic actions and reactions of firms. A third hypothesis compares ex ante competitive expectations with ex post asymmetric rivalry between strategic groups. To test this, we compare ex post news on actions/reactions with an ex ante approach that estimates conjectural variations. The empirical application carried out on bank deposits in the Spanish market defines strategic groups in terms of size due to the historical and institutional conditions of the industry (deregulatory change). The results obtained show that rivalry patterns between strategic groups in terms of company size can be predicted as asymmetric in the sense that smaller bank strategic groups have a greater degree of response (Stackelberg 'leader-follower' competitive interaction), and a slower speed of response to the actions of larger bank strategic groups than is found the other way around. Moreover, ex ante expectations of aggressiveness on the part of larger strategic groups characterize greater ex post reactions from the smaller-size strategic groups. Therefore, the size distribution of strategic groups is valuable to research on complex industries with deregulation changes.
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    The differentiated effects of CSR actions in the service industry
    Casado-Diaz, Ana B.; Nicolau, Juan Luis; Ruiz-Moreno, Felipe; Sellers-Rubio, Ricardo (Emerald, 2014-01-01)
    Purpose: The purpose of this study is to attempt to explain why the impact of Corporate Social Responsibility (CSR) initiatives may be different and/or more important in service firms compared to manufacturing firms. CSR is becoming a common strategy, hence its extensive research. Central to it is the analysis of the effect of CSR on a firm’s performance, whose outcome depends on firm-specific and industry-related factors. Design/methodology/approach: The event study methodology is applied to all the 248 companies that have ever traded on the Spanish Stock Market between 1990 and 2007. A regression analysis examines potential different effects of CSR on service and goods firms. Findings: The results show that CSR activities have a positive impact on firm performance that is higher for service firms than for manufacturing firms. Actions related to the environment, responsible labor relationships and good corporate governance are especially important in the service context. Research limitations/implications: This research is focused on shareholders’ performance, but it does not consider other stakeholders, such as real consumer behavior or employees’ commitment and productivity. Practical implications: Service firms are likely to gain from focusing on some CSR activities (environment, employees and good corporate governance) and should use their responsible behavior as a valuable tool for public relations and differentiation in the market. Originality/value: This article is the first attempt to empirically test and explain why the relationship between CSR and firm performance may be different (more positive) for service vs manufacturing firms.
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    Foreign expansion strategy and performance
    Mas-Ruiz, Francisco J.; Nicolau, Juan Luis; Ruiz-Moreno, Felipe (Emerald, 2002-08-01)
    The aim of this study is to examine the determining factors of a firm's performance, as a direct consequence of its diversification strategy in its expansion into foreign markets, considering certain factors like the market, the product and the company itself. As a novelty, the methodology employed uses the event-study to estimate the excess of returns generated by its shares on the Stock Market, based on a sample, of 35 expansion announcements into external markets corresponding to 11 diversifying companies. A regression analysis is also carried out to examine the impact of these factors, market, product and company, on the excesses in returns observed. The empirical application, carried-out in Spain, has allowed us to detect that, on average, the impact of the news about a company's expansion on the returns on its shares is positive; its determining factors being the speciality of the product offered and the level of development in the target country.
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    Supplier Slip-Ups: How Malpractices Can Bite into Restaurant Market Value
    Raad, James; Ruiz-Moreno, Felipe; Nicolau, Juan Luis (SAGE Publications, 2024-12-18)
    Ethical, environmental, and human rights standards are critical issues in the tourism and hospitality industry. In this context, restaurants must choose third-party members—such as suppliers—that align with their quality and sustainability standards, especially because these third-party members may encounter challenges related to food safety, ethical misconduct, environmental matters, and human rights violations. This study analyzes whether the market holds restaurants accountable for the shortcomings of their suppliers, even when the restaurant has not directly participated in or caused these problems. Based on signaling theory and the associative network memory paradigm, this study finds that supplier issues negatively affect the market value of restaurants, with indirect linkage exerting a greater impact than direct linkage, which informs these theories by underscoring the importance of memory and associations dynamics.
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    Two-stage choice process of FDI: Ownership structure and diversification mode
    Ruiz-Moreno, Felipe; Mas-Ruiz, Francisco J.; Nicolau, Juan Luis (Elsevier, 2007-07-01)
    Prior literature on foreign direct investment examines single-stage decision making processes based on, either the ownership structure (full vs. partial ownership), the diversification mode (Greenfield vs. acquisition), or the simultaneity of both of them (with four independent alternatives as a result of combining the ownership structure and diversification mode decisions simultaneously). This study proposes that ownership structure and diversification mode are nested and non independent decisions. However, the sequential order of the two decisions, ownership structure and diversification mode, is unknown. Thus, the current study tests the single-stage process used by previous researchers versus the two different hierarchical two-stage processes (ownership structure choice precedes diversification mode choice; and diversification mode choice precedes ownership structure choice). The empirical findings support the existence of a two-stage choice process where ownership structure choice precedes diversification mode choice. The main implication of these findings is that, given the human limited analytical capability, a hierarchical choice process can be useful to handle the information overload and the complexity inherent to the foreign direct investment choices.
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    Who performs a stronger response to whom? Detecting individual competitive actions and reactions
    Nicolau, Juan Luis; Ruiz-Moreno, Felipe (Springer, 2013-07-20)
    This study analyzes the degree of competition through individual actions and reactions. Empirical support for this analysis has derived mainly from structural econometric models describing the nature of competition. This analysis extends the existing literature by empirically considering a direct measurement of competition through the analysis of the competitive actions and responses, and describing how firms compete within and between strategic groups. We estimate the firms' conduct in the Spanish deposits market with 146 firms and 18,888 observations. This is a specially compelling context for the banking industry, in which a deregulation process gives rise to the adoption of aggressive strategies seeking to increase the market shares of deposit accounts; thus, producing a turbulent situation of increasing rivalry. Our results offer a deeper understanding of the firms' competitive behavior, since we identify different patterns of actions and reactions depending upon the strategic group the firm belongs to.