學術研究

Online Ratings and Voluntary Disclosure: Evidence from Taiwanese Hotel Industry

日期 2020-10-30 (週五)
時間 02:30 PM
地點 Conference Room C103
主持人 Professor Tzu-Ting Yang
演講者 Professor Fang-Chang Kuo (郭芳彰)
演講者簡介 Professor Kuo received his Ph.D. in Economics from the University of Texas at Austin in 2019. He is currently an Assistant Professor at National Chung Cheng University. His research fields are Empirical Industrial Organization, Applied Econometrics, and Corporate Finance.
摘要 This paper investigates the impacts of a voluntary quality disclosure program and how it is affected by prevalent online reputation mechanisms. Theory does not have a clear prediction about how voluntary quality disclosure and reputation mechanisms interact as they are both potential solutions to asymmetric information problems. To empirically study this issue, I exploit a Star Rating Program introduced in the Taiwanese hotel industry and construct a detailed panel of hotel Star Rating statuses, financial performances, and online ratings scraped from various rating platforms. Empirical results indicate heterogeneous effects from different star levels. Moreover, the presence of online ratings decreases the effects from voluntary disclosure program.