Terrorism and global business performance

Tauringana, Venancio; Tingbani, Ishmael; Okafor, Godwin; Sha'ven, Widin Bongasu

doi:10.1002/ijfe.2085

Cited by 7 publications

(12 citation statements)

References 98 publications

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“…These results align with the ongoing debate regarding the economic consequences of terrorism. Previously research reported that terrorism negatively impacts a country's economic conditions by drastically impacting business conditions (Tauringana et al, 2021).…”

Section: Baseline Regression Analysismentioning

confidence: 99%

“…Previous research reported that poorly performing firms and unsuccessful businesses lead to higher unemployment rates lowering the opportunity cost to participate in terrorism activities (Gurbuz & Aybars, 2010;Iqbal & Usman, 2018;Mansoor et al, 2022). Hence, researchers have highlighted the significance of examining the association of poor firm performance with terrorism (Tauringana et al, 2021).…”

Section: Robustness Analysismentioning

confidence: 99%

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Terrorism as Socio-Economic and Cultural Barriers to Indonesian Firms’ Financial Performance

Golose¹

2023

J Ethn Cult Stud

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Terrorism causes ethical and cultural issues and adversely impacts a nation's socio-economic development. Considering the escalating focus on the economic contribution toward Indonesia’s stability, growth, and industrial transformation, the current study aims to examine the impact of terrorism on the financial performance of firms listed on the Indonesian stock exchange. The statistics regarding terrorist attacks, fatalities, and injuries during such attacks from 2011 to 2020 in Indonesia were gathered from the Global Terrorism Database, and the data regarding firms’ internal characteristics and the external environment was gathered from the credit agency in Indonesia, PT Pemeringkat Efek Indonesia, mostly known as PEFINDO. At the same time, the central Bank Indonesia was approached for the financial statements of the firms listed on the Indonesian Stock Exchange. Applying the Cobb–Douglas production function and Pooled Ordinary Least Squares, the results revealed a significant and negative influence of terrorism on firms’ performance. The influence of firms’ internal characteristics and external environment were considered control variables. As a valuable addition to the existing literature, the current study provides unique evidence of the effects of previous years’ terrorism and within-country variations of terrorism on firm financial performance.

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Section: Baseline Regression Analysismentioning

confidence: 99%

Section: Robustness Analysismentioning

confidence: 99%

Terrorism as Socio-Economic and Cultural Barriers to Indonesian Firms’ Financial Performance

Golose¹

2023

J Ethn Cult Stud

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“…In Turkey, North Africa and the Near East, terrorist activities continue, and travellers prefer to choose some other destinations instead of these, in which the safety situation is currently unstable. In Europe also, there were several terrorist attacks, namely in Brussels, Berlin and Nice, and the migrant crisis continues following the large migrant wave back in 2015 (Mawby et al, 2021;Tauringana et al, 2020). The emergence of the pandemic caused by COVID-19 has had a big impact on the reduction in tourist trends, which will cause long-term consequences for economies and tourism throughout the world.…”

Section: Contemporary Trends In the Hotel Distribution In Europe Theoretical Backgroundmentioning

confidence: 99%

Online Reservations and Hotel Distribution Channels in European Tourism: A Case of Croatia

Dadić¹,

Slivar²,

Floričić³

2022

CEBR

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Technologies transform the total marketing mix of hotel products in the dynamic tourism market, where the distribution is detected as a key factor of market placement and profitability. The main goal of this paper is to explore the distribution channels in the hospitality industry and to identify the most successful elements of online distribution for the purposes of realising future excellence in post-COVID-19 tourism. The online distribution elements that could enhance competitiveness and incentives for reservation were identified and ranked. This was realised by choosing the most representative sample and by researching it using a structured questionnaire, where the mix of competitiveness and marketing elements were evaluated. The research findings present the importance of online travel agents (OTA), tour operators, social networks and conferences (MICE segment). The potential of Global Distribution Systems (GDS) systems is detected and, although not fully valorised in practice, implicate future franchising and contracting with global hotel brands and consortia. The answer to the question: "Which tools and techniques of innovative online distribution should be used and what product elements enhance sales in the hotel industry of the future?" is explored by the scientific methodology, which supports the purpose and presents the main contribution of the paper. Implications for Central European audience: The paper represents a considerable contribution in the perception of the distribution channels, affirmed for exchange in the Central European tourism market as an emissive market for the receptive offer of Croatian tourism. Considered in the context of the accessibility of Croatia as a car destination that realises both long-term and short-term "impulsive" bookings, promptness, propulsion and dynamism of online distribution channels used by the hotel offer have exceptional importance for income management and profitability. Correspondingly, a positive perception is being developed of the Central European market demand, as well as tourism awareness about closeness and market potentials, which represents a platform for the development of applicative strategies in communication and business. Recognising the effect on intensification of tourist exchange through the affirmation of innovations and technology contributes to the development of science and practice of the hospitality industry.

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“…Other arguments put forward by studies (see, Chen and Siems, 2004; Tingbani et al. , 2019; Tauringana et al. , 2021) are that terrorism impedes the ability of firms to perform productively by destroying business infrastructures and imposing fear.…”

Section: Introductionmentioning

confidence: 99%

“…However, the use of actual incidents of terrorism, and the comprehensive analysis of firms, will provide much detailed information on how an objective type of instability affects the performance of firms. Second, unlike most studies on terrorism (such as Powers and Choi, 2012; Singh, 2013; Efobi and Asongu, 2016), we have added to the very few existing studies that have used the severity of terror attacks – which is the number of fatalities and people injured (see, Mazhar, 2019; Tauringana et al. , 2021).…”

Section: Introductionmentioning

confidence: 99%

Empirical evidence of the relationship between terrorism and firm financial performance in Nigeria

Okafor

Calderon

2022

IJOEM

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PurposeThis paper investigates the relationship between terrorism and firm financial performance in Nigeria. The country has become one of the riskiest countries in Sub-Saharan Africa due to the intensity of recent terror attacks. Also, there is a growing focus on the importance of firms, given firms' economic contribution towards growth, employment and economic and industrial transformation. However, no study has tried establishing a relationship between terrorism and firm financial performance. Therefore, providing empirical proof of this relationship is the primary purpose and motivation of this paper.Design/methodology/approachData from the World Bank Enterprise Survey (WBES) and the Global Terrorism Database (GTD) were used for this study. The baseline analysis was estimated using the pooled ordinary least squares regression technique. For robustness checks, the fixed effects technique was used to control for heterogeneity across the authors' sample of firms and unobserved factors that are time-invariant, while the IV technique was employed to control for any potential endogeneity.FindingsThe results obtained from the regression analysis were robust to different econometric estimations and approaches. Terrorism was found to have a consistent and significant negative impact on firm financial performance. Furthermore, the marginal effect of terrorism on firm performance was more substantial when state-level terrorism data were used.Originality/valueStudies often focus on the impact of political instability (which is a measure subjectively based on perception) on foreign direct investment or on the activities of multinational corporations. The authors' research is new in supplying evidence of the relationship between terrorism (an objective measure) and the financial performance of manufacturing firms in Nigeria. Methodologically, this study also employed spatially distributed incidents of terrorism within the country. This is because incidents of terrorism are often spatially distributed within a country (i.e. province or state). This will provide new evidence of the effects of within-country variations of terrorism on firm financial performance.

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Terrorism and global business performance

Cited by 7 publications

References 98 publications

Terrorism as Socio-Economic and Cultural Barriers to Indonesian Firms’ Financial Performance

Terrorism as Socio-Economic and Cultural Barriers to Indonesian Firms’ Financial Performance

Online Reservations and Hotel Distribution Channels in European Tourism: A Case of Croatia

Empirical evidence of the relationship between terrorism and firm financial performance in Nigeria

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