COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea

The COVID-19 pandemic has significantly changed individuals' daily life due to increased risk aversion, which has affected their consumption patterns and preferences. To understand the effect of the pandemic on consumer behavior through risk aversion, this study investigated the relationships a...

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Detalles Bibliográficos
Autores principales: Im, Jongho, Kim, Jewoo, Choeh, Joon Yeon
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Ltd. 2021
Materias:
Research Paper
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9764234/
http://dx.doi.org/10.1016/j.jdmm.2021.100566
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author Im, Jongho
Kim, Jewoo
Choeh, Joon Yeon
author_facet Im, Jongho
Kim, Jewoo
Choeh, Joon Yeon
author_sort Im, Jongho
collection PubMed
description The COVID-19 pandemic has significantly changed individuals' daily life due to increased risk aversion, which has affected their consumption patterns and preferences. To understand the effect of the pandemic on consumer behavior through risk aversion, this study investigated the relationships among the pandemic, social distancing, online information search, and firm performance in the hospitality and tourism industries. For data analysis, we developed two joint models and estimated the models using the fixed-effects method. The results of the first model showed that social distancing triggered by COVID-19 news stories affected firm value. The second regional-level analysis revealed that the number of confirmed cases and COVID-19 news stories influenced individuals’ social distancing and online information search for tourist attractions and the changed social distancing and online search, in turn, affected the volume of online hotel reviews.
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spelling pubmed-97642342022-12-20 COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea Im, Jongho Kim, Jewoo Choeh, Joon Yeon Journal of Destination Marketing & Management Research Paper The COVID-19 pandemic has significantly changed individuals' daily life due to increased risk aversion, which has affected their consumption patterns and preferences. To understand the effect of the pandemic on consumer behavior through risk aversion, this study investigated the relationships among the pandemic, social distancing, online information search, and firm performance in the hospitality and tourism industries. For data analysis, we developed two joint models and estimated the models using the fixed-effects method. The results of the first model showed that social distancing triggered by COVID-19 news stories affected firm value. The second regional-level analysis revealed that the number of confirmed cases and COVID-19 news stories influenced individuals’ social distancing and online information search for tourist attractions and the changed social distancing and online search, in turn, affected the volume of online hotel reviews. Elsevier Ltd. 2021-06 2021-03-03 /pmc/articles/PMC9764234/ http://dx.doi.org/10.1016/j.jdmm.2021.100566 Text en © 2021 Elsevier Ltd. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Research Paper
Im, Jongho
Kim, Jewoo
Choeh, Joon Yeon
COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea
title COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea
title_full COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea
title_fullStr COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea
title_full_unstemmed COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea
title_short COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea
title_sort covid-19, social distancing, and risk-averse actions of hospitality and tourism consumers: a case of south korea
topic Research Paper
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9764234/
http://dx.doi.org/10.1016/j.jdmm.2021.100566
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