Organization: University of Economics - The University of Danang
Received: September 04, 2020
Revised: September 04, 2020
Accepted: August 01, 2020
Published: September 04, 2020
Views: 14
Downloads: 0
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Abstract
"Purpose – Danang – a heritage gateway, a socioeconomic urban of Central Vietnam – has been known as a livable city, a fantastic destination and a leading position in the Provincial Competitive Index. Since branding Danang appears to be unfocused, it is suggested that the city follow a strategy to meet the shared expectations of stakeholders instead of trying to create separate images toward different audiences. The paper aims to discuss these issues.
Design/methodology/approach – Therefore, this study selects the bottom-up approach from the viewpoint of Danang students whose requirement is consistent with those of investors, citizens and tourists.
Findings – The finding represents the initial associations of students about Danang as a livable, friendly, dynamic, modern coastal city of tourism and development with many opportunities, potential, attraction, integration and hometown feel. These salient images are exceeded from city characteristics, such as natural endowment, leisure places, beautiful scenes, diverse cuisine, peaceful, suitable living environment, orderly traffic, infrastructure and local people. Besides, crowded caused by development and population growth leads to an unpleasant feeling about narrow spaces but can be overwhelmed by the bustle. Although the result shows the success of Danang in communication, it also figures out the loss of the livable image in local students’ minds.
Practical implications – Hence, Danang must boost the positive effects of tourism development and limit its negative side. University–city cooperation through co-branding strategies can be considered a solution.
Originality/value – The study contributes not only to branding Danang but also to the literature because this is the first complete application of the Zaltman metaphor elicitation technique in city branding."
Keywords
Vietnam, Place image, Consensus map, Danang city, Zaltman metaphor elicitation technique
2025, Journal of Asian Business and Economic Studies
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Abstract
Purpose
This study examines the influence of economic policy uncertainty on financial flexibility before and during the coronavirus disease 2019 (COVID-19) pandemic. Few prior studies have examined this association specifically for debt and cash flexibility.
Design/methodology/approach
Using quarterly data from 2016 to 2022, 1014 observations were collected from the S&P Capital IQ database for listed tourism companies in India. The pre-pandemic period is defined as 2016 Q1 to 2020 Q1, whereas the pandemic period is from 2020 Q2 to 2022 Q3. The data are analysed using ordinary least squares, probit, logit and difference-in-difference (DID) estimation.
Findings
The evidence of this study suggests a negative association of economic policy uncertainty with debt flexibility during the COVID-19 pandemic. The findings also suggest that COVID-19 induced economic policy uncertainty results in high cash flexibility. This meets the expectations for the crisis period, as firms are likely to hold more cash and less debt capacity to manage their operations. The results are robust for various estimation techniques.
Research limitations/implications
This study is limited to one emerging country and is specific to one non-financial sector. Future research could extend to more emerging countries and include other non-financial sector companies.
Practical implications
The findings of this research are useful for tourism sector managers as they can effectively manage their cash and debt flexibility during crisis periods. They will need to prioritise cash flexibility over debt flexibility to manage operations effectively. Policymakers need to provide clear and stable economic policies to help firms manage their debt levels during a crisis.
Originality/value
To the best of the author's knowledge, no existing studies have investigated the influence of economic policy uncertainty on the financial flexibility of tourism companies before and during the COVID-19 pandemic. Furthermore, this study establishes a novel set of critical determinants, such as economic policy uncertainty.
