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1.
Energy Economics ; 109, 2022.
Article in English | Scopus | ID: covidwho-1773283

ABSTRACT

This paper investigates the impact of different oil price shocks on systemic risk under different market conditions. We show that the negative impact of negative oil price shocks on systemic risk is greater than the positive impact of positive oil price shocks. Systemic risk is always negatively affected by oil-specific demand shocks but positively affected by oil supply shocks when the market is under medium and low systemic risk levels. By testing the effect of crises, we find that the influence of positive and negative oil price shocks on systemic risk was declined due to the COVID-19 pandemic. © 2022 Elsevier B.V.

2.
Journal of Hospitality and Tourism Insights ; ahead-of-print(ahead-of-print):20, 2021.
Article in English | Web of Science | ID: covidwho-1522487

ABSTRACT

Purpose - The objective of this study was to improve understanding of frontline staff's subjective happiness and anxiety during the COVID-19 pandemic by investigating the roles of employees' busy mindset and leader conscientiousness. Design/methodology/approach - The link between employee anxiety and subjective happiness was also explored, and the cross-level mediating effect of employee anxiety was tested using a multilevel design. A survey of 373 frontline staffers and 74 team leaders in the integrated resorts (IRs) was conducted in three waves: April (Time 1), May (Time 2) and June (Time 3) in 2020. The data were analysed with SPSS and Mplus using a hierarchical linear modelling (HLM) method. Findings - The results indicated that during the COVID-19 pandemic, a busy mindset increased frontline staff's anxiety and thus decreased their subjective happiness, and leader conscientiousness remedied the effect of anxiety on subjective happiness. Practical implications - The findings are relevant to frontline staffers, team leaders in the hospitality industry and corporate service departments. Against the background of COVID-19, conscientious leaders can significantly help employees to overcome their anxiety and insecurity and improve their subjective happiness, answering the urgent call to deal with the challenges of the new work-life environment. Originality/value - The study differs from previous other studies in two dimensions: First, the authors explored the interactions of the affective events from the cross-level perspectives, i.e. both team level and individual level. Second, the authors conducted this research on the mental issues of the hospitality frontline staffers in the context of the COVID-19 pandemic, which remains a black box to be explored.

3.
International Journal of Contemporary Hospitality Management ; 2021.
Article in English | Scopus | ID: covidwho-1091161

ABSTRACT

Purpose: This paper aims to analyze how a real-time COVID-19 pandemic is impacting Macao’s hospitality industry, and illustrates why lessons from COVID-19 are an opportunity for further development for the city. Design/methodology/approach: This case study highlights local government and hospitality industry responses to a real-time crisis. Academic studies, media news and reports have been collected to illustrate why the Macao’s response to the COVID-19 pandemic could be taken as a city case study example. Previous crisis experience provided guidance to Macao’s success in this pandemic. Findings: Macao has succeeded in managing the adverse effects of COVID-19, illustrating the coexistence of challenges and opportunities from experiencing the epidemic. With no COVID-19 cases in the city, cross-border tourism with China resumed in September. Macao is undeniably over reliant on the gambling industry to provide tax income and employment, creating an unbalanced industrial structure. However, the Chinese and Macao Governments, the hospitality industry and other stakeholders, have presented high levels of engagement, unity and rational courses of action during the pandemic. This paper examines Macao’s two orientations – intra and post-coronavirus – which are shown to be instrumental in the city’s future tourism development. Practical implications: As the paper is Macao-specific, some generalization may not be applicable. The lessons and strategies proposed in the paper may only be theoretically and temporarily workable in this real-time situation. However, as COVID-19 will remain for some time globally, the efficacy of the findings justifies further ongoing analysis and application beyond Macao. Originality/value: The case offers a first-hand analysis on the governance of Macao to negate the impacts of COVID-19, enabling a comprehensive review on the practices and policies that were effective during the virus outbreak. There is reference for researchers and practitioners in the public policy domain, and particularly in the area of crisis management and destination resilience. The result is worthy of future exploration on how the mechanism of centralized government facilitates risk management, and the rebuilding of a tourism economy in a crisis context, comparing this to other national systems. © 2021, Emerald Publishing Limited.

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