An Eclectic Investigation of Tourism Multinationals: Evidence from Greece

Anastassopoulos, G. and Filippaios, F. and Phillips, P. (2009) An Eclectic Investigation of Tourism Multinationals: Evidence from Greece. International Journal of Hospitality Management, 28 (2). pp. 185-194. ISSN 0278-4319. (Full text available)

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http://dx.doi.org/10.1016/j.ijhm.2008.06.014

Abstract

This paper analyses determinants of profitability differences between subsidiaries of multinational enterprises (MNEs) and domestic enterprises (DMEs) in the tourism industry, using firm-level data. Previous studies focus on the hypothesis that ownership-specific advantages are a major determinant of performance differences. This paper explores performance issues using the eclectic paradigm configuration of tourism multinationals (NACE = 55), operating in Greece and a panel dataset for 95 firms and 10 years. A quantile regression technique is used to estimate the proposed model. Results indicate that, overall, MNEs out-perform their domestic competitors and are generally larger in terms of size. The study reveals, though, that when breaking MNEs into majority and minority owned, the latter perform better, as they make substantial use of local partners. These partners contribute with knowledge of the local market, which is an important aspect for the tourism industry. Finally, the authors discuss the conclusions and managerial implications of the findings.

Item Type: Article
Uncontrolled keywords: Greece Tourism industry Hotel sector Multinational enterprise subsidiaries (MNES) Performance
Subjects: H Social Sciences
H Social Sciences > H Social Sciences (General)
Divisions: Faculties > Social Sciences > Kent Business School
Faculties > Social Sciences > Kent Business School > International Business and Strategy
Depositing User: Cathy Norman
Date Deposited: 20 Feb 2012 12:33
Last Modified: 05 Aug 2013 11:33
Resource URI: http://kar.kent.ac.uk/id/eprint/28768 (The current URI for this page, for reference purposes)
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