Impact of Innovation on the Market Value of Tourism Enterprises: Approaches and Metrics
DOI:
https://doi.org/10.18559/nky88t39Keywords:
Innovations, Tourist enterprises, Market valueAbstract
The purpose of this research was to integrate existing knowledge regarding the effects of innovation on the value of tourism enterprises. The research is based on a literature review. This was performed through the use of the Ebsco electronic database, due to the high accessibility of its information. The review encompassed the metrics of investor responses and related analytical models. The relevant papers referred to key financial factors under headings such as the market value of innovation, innovation driven value creation, and investment valuation. The research identified five approaches and three metrics which were most commonly used in empirical studies on the effects of innovation. Moreover, it enabled the concepts of investor responses and market efficiency to be delineated. The paper attempts to fill an important research gap concerning the impact of innovation on the value of tourism enterprises.
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