3.2. Empirical data
The data used in this study were retrieved from Ctrip.com (Ctrip
International, Ltd., NASDAQ: CTRP), which is the largest online travel
service provider for hotel accommodation, airline tickets, and
package tours in China and had a net revenue in 2007 of RMB
1.12 billion (164.4 million in US$) (Crtip.com Intl Ltd., 2008).