SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling

Fanar Shwedeh; Ahmad Aburayya; Raghad Alfaisal; Ayotunde Adetola Adelaja; Gbemisola Ogbolu; Abid Aldhuhoori; Said Salloum

doi:10.3390/su142316044

SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling

Fanar Shwedeh
, Ahmad Aburayya
, Raghad Alfaisal
, Ayotunde Adetola Adelaja
, Gbemisola Ogbolu
, Abid Aldhuhoori
, Said Salloum

TUIBS Strategy, Leadership & Enterprise

Research output: Contribution to journal › Article › peer-review

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Abstract

This study aims to identify why firms, specifically SMEs in the hospitality and tourism industry, downsized during the recent global economic distress caused by COVID-19. This study applied a quantitative methodology by distributing online questionnaires to SME owners and managers who operate in the tourism industry of the UAE. We analysed the collected data using structural equation modelling. A total of 320 questionnaires were analysed using the PLS-SEM analytic tool. Our findings revealed that the investigated constructs, namely financial sustainability, SMEs’ innovativeness, and technology adoption predict the implementation of downsizing strategies during economic distress. However, financial sustainability failed to expedite SMEs’ innovativeness and technology adoption during this period. Therefore, the findings of this study show the impacts of financial strength, technology adoption, and innovativeness on implementing downsizing strategies, and provide suggested recommendations in light of the observed results.

Original language	English
Article number	16044
Number of pages	18
Journal	Sustainability
Volume	14
Issue number	23
DOIs	https://doi.org/10.3390/su142316044
Publication status	Published - 1 Dec 2022

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Shwedeh, F., Aburayya, A., Alfaisal, R., Adelaja, A. A., Ogbolu, G., Aldhuhoori, A., & Salloum, S. (2022). SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling. Sustainability, 14(23), Article 16044. https://doi.org/10.3390/su142316044

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title = "SMEs{\textquoteright} Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling",

abstract = "This study aims to identify why firms, specifically SMEs in the hospitality and tourism industry, downsized during the recent global economic distress caused by COVID-19. This study applied a quantitative methodology by distributing online questionnaires to SME owners and managers who operate in the tourism industry of the UAE. We analysed the collected data using structural equation modelling. A total of 320 questionnaires were analysed using the PLS-SEM analytic tool. Our findings revealed that the investigated constructs, namely financial sustainability, SMEs{\textquoteright} innovativeness, and technology adoption predict the implementation of downsizing strategies during economic distress. However, financial sustainability failed to expedite SMEs{\textquoteright} innovativeness and technology adoption during this period. Therefore, the findings of this study show the impacts of financial strength, technology adoption, and innovativeness on implementing downsizing strategies, and provide suggested recommendations in light of the observed results.",

author = "Fanar Shwedeh and Ahmad Aburayya and Raghad Alfaisal and Adelaja, \{Ayotunde Adetola\} and Gbemisola Ogbolu and Abid Aldhuhoori and Said Salloum",

year = "2022",

month = dec,

day = "1",

doi = "10.3390/su142316044",

language = "English",

volume = "14",

journal = "Sustainability",

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Shwedeh, F, Aburayya, A, Alfaisal, R, Adelaja, AA, Ogbolu, G, Aldhuhoori, A & Salloum, S 2022, 'SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling', Sustainability, vol. 14, no. 23, 16044. https://doi.org/10.3390/su142316044

SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling. / Shwedeh, Fanar; Aburayya, Ahmad; Alfaisal, Raghad et al.
In: Sustainability, Vol. 14, No. 23, 16044, 01.12.2022.

Research output: Contribution to journal › Article › peer-review

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T1 - SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19

T2 - The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling

AU - Shwedeh, Fanar

AU - Aburayya, Ahmad

AU - Alfaisal, Raghad

AU - Adelaja, Ayotunde Adetola

AU - Ogbolu, Gbemisola

AU - Aldhuhoori, Abid

AU - Salloum, Said

PY - 2022/12/1

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N2 - This study aims to identify why firms, specifically SMEs in the hospitality and tourism industry, downsized during the recent global economic distress caused by COVID-19. This study applied a quantitative methodology by distributing online questionnaires to SME owners and managers who operate in the tourism industry of the UAE. We analysed the collected data using structural equation modelling. A total of 320 questionnaires were analysed using the PLS-SEM analytic tool. Our findings revealed that the investigated constructs, namely financial sustainability, SMEs’ innovativeness, and technology adoption predict the implementation of downsizing strategies during economic distress. However, financial sustainability failed to expedite SMEs’ innovativeness and technology adoption during this period. Therefore, the findings of this study show the impacts of financial strength, technology adoption, and innovativeness on implementing downsizing strategies, and provide suggested recommendations in light of the observed results.

AB - This study aims to identify why firms, specifically SMEs in the hospitality and tourism industry, downsized during the recent global economic distress caused by COVID-19. This study applied a quantitative methodology by distributing online questionnaires to SME owners and managers who operate in the tourism industry of the UAE. We analysed the collected data using structural equation modelling. A total of 320 questionnaires were analysed using the PLS-SEM analytic tool. Our findings revealed that the investigated constructs, namely financial sustainability, SMEs’ innovativeness, and technology adoption predict the implementation of downsizing strategies during economic distress. However, financial sustainability failed to expedite SMEs’ innovativeness and technology adoption during this period. Therefore, the findings of this study show the impacts of financial strength, technology adoption, and innovativeness on implementing downsizing strategies, and provide suggested recommendations in light of the observed results.

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SMEs’ Innovativeness and Technology Adoption as Downsizing Strategies during COVID-19: The Moderating Role of Financial Sustainability in the Tourism Industry Using Structural Equation Modelling

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