Study On Tourism Industry Convergence And Enterprise Performance:the Moderating Effect Of Business Model

With the development of technology innovation and the gradually relaxing control from government,due to the advent of knowledge economy and the improvement of people's living standard,market demand becomes multifarious and diverse;industry convergence has become the way to improve competitive advantages and the research hot spot in recent years.And the convergence of tourism industry is particularly remarkable.Scholars explore the relationship between tourist industry convergence and industry performance from the connotations of tourism industrial convergence,including basic meanings,driving factors,and convergence effects.But a few scholars study the relationship between convergence of tourism industry and firm performance from the firm-level and its contextual factors.In fact,the successful implementation of tourism industrial convergence in the enterprise is a complex process.How to maximize value and create more customer value is needed to be considered the situational factors that would balance the value capture and value creation.Business model is the logical description about business value proposition,value creation,and value capture.The match degree of business models and convergence of the technology,marketing,resources brings about the different performances directly.Therefore,it is necessary for enterprise to studying how the situational factor,business model,impact on the relationship of tourism industry convergence and performance,which is critical to enterprise development.Based on the above analysis,this study takes business models as moderating variables and further explores the relationship between tourism industry convergence and performance,which not only benefits to enrich related research on tourism industry convergence,but also provides new ideas for tourism enterprises to improve business performance.Firstly,this paper reviews related literature about convergence of tourism industry,business models and corporate performance,combs relations on any two of concepts,and analyzes the moderating mechanism of business models on the relationship of tourism industrial convergence and performance.And based on this,I take business models as moderator,tourism industrial convergence as independent variable and performance as dependent variable,build up study models,and propose relative assumptions.Secondly,I design corresponding measure indexes for variables about this model.The independent variable indicator is the HHI coefficient of all different industry enterprise main business incomes.Dependent variable indicators are net worth returns rate(ROE)and each unit returns(EPS).And moderating variable indicator is the integrated variable of overall indicators of business models by PCA.Hence,I have a regression analysis of the data from 31 home listed tourism enterprises during 2013-2015 on the base of complete collection.Finally,I put forward the corresponding management suggestions combined with the empirical analysis results.Conclusions in this paper show that:(1)Tourism industry convergence has a significant impact on performance.Tourism industry convergence positively impacts enterprise's performance ROE,but negatively impacts enterprise's performance EPS.(2)Business model plays a significant positive moderating role of.The relationship between tourism industrial convergence and performance.Business model will strengthen the influence of tourism industrial integration on both ROE and EPS.(3)On the basis of business model as linearity moderating variable in this study,I explore further relationship among tourism industry convergence,business model and enterprise performance.Consequently,business model moderates the relationship between tourism industrial convergence and performance in U-shape.Such U-shaped moderating effects on the relationship between tourism industrial convergence and ROE or EPS are both pronounced.