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Resource Dependency, Costs and Revenues of a Street Festival

Author

Listed:
  • Tommy Andersson

    (School of Business, Economics and Law, Gothenburg University, PO Box 610, S-41124 Goteborg, Sweden)

  • Donald Getz

    (Haskayne School of Business, University of Calgary, 2500 University Drive NW, Calgary, Alberta, Canada T2N 1N4)

Abstract

The financial position of a tourism-oriented street festival in Sweden is examined within the context of resource dependency and stakeholder management theory, focused on testing two hypotheses derived from this theoretical base. Data from a five-year period revealed how costs associated with the strongest stakeholders (that is, with the greatest bargaining power) greatly increased relative to costs associated with weak stakeholders. The festival was also more able to increase its revenues from weak stakeholders than from those in strong bargaining positions. Conclusions are drawn on how this case confirms and elaborates upon theory, particularly by applying it to the festival sector. Management implications are also drawn on how festival organizations should manage relationships when they hold strong or weak positions relative to stakeholders.

Suggested Citation

  • Tommy Andersson & Donald Getz, 2007. "Resource Dependency, Costs and Revenues of a Street Festival," Tourism Economics, , vol. 13(1), pages 143-162, March.
    • Handle: RePEc:sae:toueco:v:13:y:2007:i:1:p:143-162
    DOI: 10.5367/000000007779784443
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    References listed on IDEAS

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    1. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
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    Cited by:

    1. Antonella Capriello & Giovanni Fraquelli, 2008. "Market-Driven Management in Community Events," Symphonya. Emerging Issues in Management, University of Milano-Bicocca, issue 2 Market-.
    2. Héctor Moreno-Mendoza & Agustín Santana-Talavera & Carmelo J. León, 2019. "Stakeholders of Cultural Heritage as Responsible Institutional Tourism Product Management Agents," Sustainability, MDPI, vol. 11(19), pages 1-14, September.

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