Measurement Of Risk Spillover Effects Of The Tourism Value Chain

Along with the increasing of income, more spare time available and the holidayeconomic thriving, it becomes more and more obvious that China’s tourism industryis sure to exert profound influences on all of the national economy. Accurately put thetourism industry and other industry associations and industry risk affected relations ofthe national economy is an important premise for correct understanding of tourism inthe social economic system, low maintenance, and specify the tourism policies.The global economic crisis made us see it clearly that the International capitalflows makes global enterprises resource optimization, at the same time also bringsrisk spillover. This not only shows that there is a risk spillover effect betweenfinancial markets, also shows that there is a risk spillover effect between differentindustrial chain and value chain. In the global economy has yet to recovery today, thedevelopment of China’s tourism industry must pay attention to the value chain riskoverflow problem. The value chain of tourism risk spillover mechanism, risk ofoverflow measure and so on problems need a further study active demanded.This article reviewed for the development of the value chain theory, defined thevalue chain accounting theory is the main direction. From the perspective of valuechain accounting theory, defined the concept of value chain. Combined with thecharacteristics of tourism enterprise core competitiveness, and puts forward thetourism value chain is an important concept. Analysis the value chain risk spilloverand related theoretical research，for the tourism industry value chain overflowmeasure design operational risk quantification of GARCH model. Finally, study themeasure of Value Chain Risk Spillover Effect, mainly take the tourism industry valuechain, for example, Study the risk spillover problems between different market data,and then take the domestic industry listing corporation as the object of study, Not onlythe use of market data, and innovative use of financial data for the further study of thesame market risk of overflow problem between different industries. Through a lot oflarge sample data for empirical research, concluded that the tourism industry valuechain risk spillover effect exists not only between different financial markets, alsoexists between different industrial chain and value chain.