The indirect distribution dilemma : assessing the financial impact of participation in Booking.com for hotels

Purpose – To assess if the benefits outweigh the costs of participation in online travel agencies (OTAs) such as Booking.com. Design/methodology/approach – A two-step system GMM estimation of a regression model of firm-level return on assets (ROA) on a dummy variable indicating whether a lodging facility participates in Booking.com. The assessment contained various control variables, including size, age, leverage, liquidity and lagged ROA. The moderating effect of firm age and size was studied by including interaction variables between the Booking.com dummy and age and size, respectively. The... Mehr ...