Faculty Publications

  • 2018
  • "An Efficiency Assessment of DMOs’ Facebook Pages: A Benchmarking Study"

    Author(s): Bozana Zekan, Irem Önder

    Publication date: 4. 2018

  • Ulrich Gunter, Graziano M. Ceddia, David Leonard, Bernhard Tröster
    "Contribution of international ecotourism to comprehensive economic development and convergence in the Central American and Caribbean region"
    2018 in: Applied Economics. Pages: 1-16

    Drawing on the positive experience from Costa Rica, the study examines whether international ecotourism makes a significant contribution to comprehensive economic development for the Central American and Caribbean region and contributes to comprehensive economic convergence. Following a standard empirical growth model, a dynamic panel regression model is estimated using time-series data from 1995 until 2012 for a cross section of seven countries. The interaction of international tourism and various established sustainability indicators is employed allowing ecotourism to be consistently quantified across countries, while numerous country-specific structural characteristics are controlled for. The estimation results show that international ecotourism has a statistically significant positive effect on both traditional economic development (real GDP per capita) and comprehensive economic development (adjusted net savings; ANS per capita), which is a measure of a society’s potential future well-being, thus providing evidence in support of the tourism-led growth hypothesis and pointing towards an important role for ecotourism in driving comprehensive economic convergence.

    Author(s): Ulrich Gunter, Graziano M. Ceddia, David Leonard, Bernhard Tröster

    Publication date: 23. 1. 2018

    Pages: 1-16

    Electronic version(s), related files and links: http://dx.doi.org/10.1080/00036846.2018.1430339

  • "A Model of Tourists' Loyalty: The Case of Airbnb"
    2018 in: Journal of Hospitality and Tourism Technology.

    Author(s): Lidija Lalicic, Christian Weismayer

    Publication date: 2018

  • "Open Innovation Platforms in Tourism: How Do Stakeholders Engage and Reach Consensus?"
    2018 in: International Journal of Contemporary Hospitality Management. Volume: 39. Issue number: 6

    Author(s): Lidija Lalicic

    Publication date: 2018

    Volume: 39

    Issue number: 6

  • Christian Weismayer, Ilona Pezenka
    "Aspect-based sentiment detection: Comparing human versus automated classifications of Tripadvisor reviews"
    2018 Pages: 365

    Author(s): Christian Weismayer, Ilona Pezenka

    Publication date: 2018

    Place of Publication Volume: Cham, Switzerland

    Publisher: Springer

    Pages: 365

    Host publication editor(s): B. Stangl, J. Pesonen

  • "Optimal levels of (de)centralization for resilient supply chains"
    2018 in: International Journal of Logistics Management. Volume: 29. Issue number: 1 Pages: 435-455

    Purpose – The purpose of this paper is to illustrate how centralization and decentralization of supply chains (SCs) play a major role in creating organizational resilience.
    Design/methodology/approach – Starting with the basic tenets of contingency theory and applying a grounded theory approach, results from exploratory qualitative and quantitative studies are combined to investigate the impact of (de)centralization on SC resilience capabilities.
    Findings – The findings from a comprehensive literature review combined with two empirical surveys indicate that four important organizational capabilities are needed in order to cope with internal and external disruptions: fast reactions to unforeseen disturbances, reducing the number of negative external forces,
    reducing the impact of negative external forces and the quick return to normal operating processes. Furthermore, it is illustrated how (de)centralization activities can support these capabilities and thus maximize the SC resilience.
    Originality/value – This paper presents 12 measures for (de)centralization and shows how they can support the four major capabilities of resilient companies. The results from qualitative and quantitative surveys allow for a holistic understanding of the organization and provide a basis for future SC resilience research.
    Keywords – Grounded theory, Survey, Europe, Centralization, Decentralization, Supply chain resilience, Empirical research, Contingency theory

    Author(s): Horst Treiblmaier

    Publication date: 2018

    Volume: 29

    Issue number: 1

    Pages: 435-455

  • "Experience care: efficacy of service-learning in fostering perspective transformation in tourism education"
    2018 in: Journal of Teaching in Travel and Tourism. Volume: 18. Issue number: 1 Pages: 8-24

    This article presents the findings of a study, which explores the benefits of a service-learning (SL) approach from the perspective of students. The SL approach employed in this study combines theoretical discourse in human relations and personal development with active engagement in community projects. We collected 61 reflective essays from undergraduate students at an Austrian university about their impressions of the lecture and of the two community service projects they participated in. The thematic analysis of the textual data revealed that the SL approach adopted in our course largely benefitted the students. Challenge, positive emotions, affiliation, and learning are the four key dimensions which characterise the students’ experiences. Amongst the learning outcomes reported by the students, SL facilitated self-awareness, self-confidence, self-esteem, stress-resistance, enhanced communication, and problem-solving skills. Despite some challenges, SL proves to be a promising experiential pedagogical approach, which, we argue, is highly relevant to tourism management students.

    Author(s): Xavier Matteucci, Florian Aubke

    Publication date: 2018

    Volume: 18

    Issue number: 1

    Pages: 8-24

  • "DMOs’ Facebook Success Stories: A Retrospective View"
    2018 Pages: 172

    Author(s): Lidija Lalicic, Stefan Gindl

    Publication date: 2018

    Publisher: Springer Verlag

    Pages: 172

    Host publication editor(s): B. Stangl, J. Pesonen

  • Lidija Lalicic, Assumpció Huertas, Antonio Moreno, Stefan Gindl, Mohammed Jabreel
    "DMOs’ Brand Values Communication Strategies: a Comparision between Twitter and Facebook."
    2018 Pages: 159

    Author(s): Lidija Lalicic, Assumpció Huertas, Antonio Moreno, Stefan Gindl, Mohammed Jabreel

    Publication date: 2018

    Publisher: Springer Verlag

    Pages: 159

    Host publication editor(s): B. Stangl, J. Pesonen

  • Adrian Brasoveanu, Giuseppe Rizzo, Philip Kuntschik, Albert Weichselbraun, Lyndon Nixon
    "Framing Named Entity Linking Error Types"

    Author(s): Adrian Brasoveanu, Giuseppe Rizzo, Philip Kuntschik, Albert Weichselbraun, Lyndon Nixon

    Publication date: 2018

  • "Assessing the usefulness of online image annotation services for destination image measurement"

    Author(s): Lyndon Nixon

    Publication date: 2018

  • Karl Weinmayer, Stephan Gasser, Margarethe Rammerstorfer
    "DEA Portfolio Modeling: The Case of Socially Responsible Investing"

    In this paper, we expand the literature on multi-criteria portfolio modeling for
    social responsible investments using multi-directional eciency analysis (MEA). We
    apply a positive screening according to MEA eciency scores, but also exploit the
    information contained in the eciency score directly (eciency-weighting) in order
    to compute portfolio weights. The broad empirical analysis is based on public equity
    market data of social resonsible investments from the USA going back to 2005. We
    nd that portfolios constructed using multi-directional eciency analysis outperform
    the mean-variance portfolios. Furthermore we show that the explicit consideration of
    a social responsibility variable in the MEA has a positive eect on the nancial and
    social performance of all asset allocations strategies. These strategies are also strictly
    preferred to a naive portfolio strategy since they oer equal nancial performance,
    while surpassing it in terms of social performance. These results clearly show the
    benets of MEA portfolio modeling, not only for socially responsible investors, but
    also traditional investors.

    Author(s): Karl Weinmayer, Stephan Gasser, Margarethe Rammerstorfer

    Publication date: 2018

    Electronic version(s), related files and links: http://dx.doi.org/https://dx.doi.org/10.2139/ssrn.2826033

  • Karl Weinmayer, Stephan Gasser, Margarethe Rammerstorfer
    "Caveat Emptor: Does Bitcoin Improve Portfolio Diversification?"

    Bitcoin is an unregulated digital currency originally introduced in 2008 without
    legal tender status. Based on a decentralized peer-to-peer network to conrm transac-
    tions and generate a limited amount of new bitcoins, it functions without the backing
    of a central bank or any other monitoring authority. In recent years, Bitcoin has seen
    increasing media coverage and trading volume, as well as major capital gains and
    losses in a high volatility environment. Interestingly, an analysis of Bitcoin retur ns
    shows remarkably low correlations with traditional investment assets such as other
    currencies, stocks, bonds or commodities such as gold or oil. In this paper, we shed
    light on the impact an investment in Bitcoin can have on an already well-diversied
    investment portfolio. Due to the non-normal nature of Bitcoin returns, we do not
    propose the classic mean-variance approach, but adopt a Conditional Value-at-Risk
    framework, which is better suited to capture the risk involved with a Bitcoin invest-
    ment and ensures coherence of the risk measure compared to other alternatives. Our
    results indicate that Bitcoin should be included in optimal portfolios. Even though
    an investment in Bitcoin increases the CVaR of a portfolio, this additional risk is
    overcompensated by high returns leading to better return-risk ratios.

    Author(s): Karl Weinmayer, Stephan Gasser, Margarethe Rammerstorfer

    Publication date: 2018

  • "Expériences touristiques, flamenco et hapax existentiel"
    2018 in: Leisure / Loisir. Volume: 42. Issue number: 2 Pages: 185-204

    Every year many tourists visit Andalusia to practise flamenco. However, little information is available on the ways in which this art is practised. The objective of this article is to describe the nature of the tourist experience for flamenco enthusiasts who have come to Seville to practise dancing, singing, and guitar. Grounded theory helped to highlight four main themes, namely personal crisis, emotional experiences, self-discovery, and eudemonism. These themes lend the tourist experience a character akin to existential hapax, a defining and seminal moment in an individual’s existence which will influence his or her path in a sustainable manner. Contrary to the dominant discourse where tourism is seen as a purely hedonistic pursuit, this article sees the tourist experience as a eudemonistic project; that is, a project characterised by the feeling of a happy life lived in harmony with oneself.

    Author(s): Xavier Matteucci

    Publication date: 2018

    Volume: 42

    Issue number: 2

    Pages: 185-204

  • 2017
  • "Estimating and forecasting with a two-country DSGE model of the Euro area and the USA: the merits of diverging interest-rate rules"
    2017 in: Empirical Economics. Pages: 1-41

    In this paper we estimate and forecast with a small-scale DSGE model of the Euro area and the USA characterized by diverging interest-rate rules using quarterly data from 1996Q2 to 2011Q2. These diverging rules reflect the differing mandates of the ECB and the Fed, respectively. Due to its primary objective of price stability, the ECB is supposed to conduct monetary policy by considering producer-price inflation only (single mandate), whereas the Fed is assumed to conduct its policy by taking into account the output gap in addition to producer-price inflation (dual mandate). In terms of the RMSE and the MAE, the DSGE model with diverging interest-rate rules outperforms a DSGE model with identical interest-rate rules in almost 70% of all cases for almost all variables across forecast horizons out of sample. It also compares well with BVAR benchmarks. For shorter horizons, we find some statistically significant differences in forecast accuracy between rival models. For forecast horizons three and four quarters ahead, the null hypothesis of equal forecast accuracy can seldom be rejected.

    Author(s): Ulrich Gunter

    Publication date: 23. 12. 2017

    Pages: 1-41

    Electronic version(s), related files and links: http://dx.doi.org/10.1007/s00181-017-1383-6

  • "Book Review: Tourism, Public Transport and Sustainable Mobility, C.M. Hall, D.-T. Le-Klähhn, Y. Ram."
    2017 in: Tourism Management. Volume: 63. Pages: 366-367

    Author(s): Ulrich Gunter

    Publication date: 12. 2017

    Volume: 63

    Pages: 366-367

    Electronic version(s), related files and links: http://dx.doi.org/ https://doi.org/10.1016/j.tourman.2017.07.010

  • "Tourists’ accounts of learning and positive emotions through sensory experiences"
    2017 Advances in Tourism Pages: 54-66

    Author(s): Xavier Matteucci

    Publication date: 11. 2017

    Series information: Advances in Tourism

    Place of Publication Volume: New York

    Publisher: Routledge

    Pages: 54-66

    Host publication editor(s): S. Filep, J. Laing, M. Csikszentmihalyi

  • "Forecasting tourism demand with Google trends: Accuracy comparison of countries versus cities"
    2017 in: International Journal of Tourism Research. Volume: 19. Issue number: 6 Pages: 648–660

    Previously, Google Trends indices have been found to be useful in improving the tourism demand forecast accuracy relative to a purely autoregressive baseline model. The purpose of this study is to extend previous research in terms of comparing the forecasting accuracy of cities and countries using Google Trends Web and image indices. The study compares forecasting models with Web and/or image search indices regarding 2 cities (Vienna and Barcelona) and 2 countries (Austria and Belgium). Overall, the forecast accuracy of Vienna with the Web and/or image indices was the best among the 4 destinations, followed by Belgium, Barcelona, and Austria.

    Author(s): Irem Önder

    Publication date: 11. 2017

    Volume: 19

    Issue number: 6

    Pages: 648–660

    Electronic version(s), related files and links: http://dx.doi.org/10.1002/jtr.2137

  • Michael Sigmund, Ulrich Gunter, Gerald Krenn
    "How Do Macroeconomic and Bank-specific Variables Influence Profitability in the Austrian Banking Sector? Evidence from a Panel Vector Autoregression Analysis"
    2017 in: Economic Notes. Volume: 46. Issue number: 3 Pages: 555–586

    We examine the determinants of the net interest margin (NIM) and the net fee and commission income ratio (NFCIR) of Austrian banks as well as their interrelationship and whether portfolio separation between loan and deposit categories holds. We describe a conceptual framework for the profit optimization problem faced by banks as a Bertrand game with differentiated products and intrafirm product interactions. We contribute to the literature by factoring in banks’ business models in terms of their balance sheet structure. We empirically assess the implications of our conceptual framework using a unique supervisory data set of around 48,000 observations between 1998 and 2014. We estimate two panel vector autoregression models with a novel panel vector autoregression code. Apart from quantifying the contributions of the determinants (e.g., risk weighted assets, leverage ratio, loan loss provision ratio) to NIM and NFCIR, the empirical results show that interest income and fee and commission income should be regarded as strategic complements within a bank. We further conclude that portfolio separation between different loan and deposit categories does not hold.

    Author(s): Michael Sigmund, Ulrich Gunter, Gerald Krenn

    Publication date: 11. 2017

    Volume: 46

    Issue number: 3

    Pages: 555–586

    Electronic version(s), related files and links: http://dx.doi.org/10.1111/ecno.12088

  • Graziano M. Ceddia, Dimitris Christopoulos, Yeray Hernández-González, Elena Zepharovich
    "Assessing adaptive capacity through governance networks: The elaboration of the flood risk management plan in Austria"
    2017 in: Environmental Science & Policy. Volume: 77. Pages: 140 - 146

    One of the consequences of climate change is the increase in the frequency and entity of extreme weather events, including floods. Any strategy dealing with the various impacts of climate change must focus not only on mitigation aspects, but also on improving on the level of adaptive capacity. Over the past decades there has been an increase in the frequency and intensity of floods in Europe, a fact which has prompted the European Union (EU) to put forward the Directive 60/2007 (the ‘Floods Directive’), requiring Member States to produce a comprehensive Flood Risk Management Plan (FRMP) by 2015. The purpose of this paper is to assess how the implementation of the ‘Floods Directive’ has contributed to the level of adaptive capacity in Austria, a EU member State hosting an important river basin. By relying on the existing literature, the paper first describes the governance system associated with flood risk management in Austria prior to the elaboration of the FRMP. Subsequently, based on collected primary data, the paper studies the governance structure associated with the elaboration of the FRMP in Austria by using descriptive social network analysis (SNA) and discusses the implications in terms of adaptive capacity of flood governance. The elaboration of the FRMP has had the merit of coordinating the pre-existing regional legislation into a coherent national framework, under the leadership of the Federal Ministry of Agriculture and Environment. A limited number of other public administration stakeholders act as brokers, but the overall governance structure appears centralized and exhibits low modularity. Such a structure, moreover, is exclusively composed of public administration actors with no de facto participation of other stakeholders (e.g., NGOs and private companies). The incorporation of a wider set of organizations in the earlier phases of the policy cycle is welcomed, in order to make the whole process less technocratic and effectively improve the overall level of adaptive capacity.

    Author(s): Graziano M. Ceddia, Dimitris Christopoulos, Yeray Hernández-González, Elena Zepharovich

    Publication date: 11. 2017

    Volume: 77

    Pages: 140 - 146

    Electronic version(s), related files and links: http://dx.doi.org/10.1016/j.envsci.2017.08.014

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