Embracing Cryptocurrency Payment Makes A Bigger Pie? Evidence from Online Travel Agencies
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author) › peer-review
Author(s)
Detail(s)
Original language | English |
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Title of host publication | CSWIM 2022 - PROCEEDINGS OF The 15th China Summer Workshop on Information Management |
Subtitle of host publication | Bringing Big Data Analytics, AI, and Human Behavioral Research Together: A New Frontier of IS Research |
Pages | 91-96 |
Publication status | Published - Aug 2022 |
Externally published | Yes |
Conference
Title | 15th China Summer Workshop on Information Management (CSWIM 2022) |
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Location | University of Nottingham Ningbo China |
Place | China |
City | Ningbo |
Period | 20 - 21 August 2022 |
Link(s)
Permanent Link | https://scholars.cityu.edu.hk/en/publications/publication(be7ca4c5-1d00-4ced-aa95-c7f146bdaca2).html |
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Abstract
The rapid development of blockchain technology and the popularity of cryptocurrency enable the application of cryptocurrency payment in real business practice and create new business models. However, due to the unavailability of real transactions data, no research has examined the net effect of adopting such technologies on firm performance. Leveraging a unique research context that Booking.com starts cooperating with Travala.com, this study collects consumer reviews of the same hotels listed on Expedia (control group) and Booking.com (treatment group) in all 51 states of the US and employs difference-in-difference designs. This study concludes with three main findings. First, the adoption of cryptocurrency payment via Travala.com induces a net decrement in online sales on Booking.com. Second, the sales decrement on Booking.com is mainly driven by upscale hotels. Third, the sales decrement on Booking.com is severer when the cryptocurrency price is lower. These results are robust across hotels in all the 51 states of USA and can be generalized using a later adoption of the cryptocurrency payment by a different online travel agency. This study is among the first attempts to empirically examine the effect of adopting cryptocurrency payment on platform sales and offer important implications for cryptocurrency payment adoption.
Research Area(s)
- Cryptocurrency Payment, Payment Technology, Online Travel Agencies, DID
Citation Format(s)
Embracing Cryptocurrency Payment Makes A Bigger Pie? Evidence from Online Travel Agencies. / Gao, Chaoyue; Gu, Bin; Liu, Xianwei et al.
CSWIM 2022 - PROCEEDINGS OF The 15th China Summer Workshop on Information Management: Bringing Big Data Analytics, AI, and Human Behavioral Research Together: A New Frontier of IS Research. 2022. p. 91-96.
CSWIM 2022 - PROCEEDINGS OF The 15th China Summer Workshop on Information Management: Bringing Big Data Analytics, AI, and Human Behavioral Research Together: A New Frontier of IS Research. 2022. p. 91-96.
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author) › peer-review