Duong, Kiet Tuan orcid.org/0000-0002-1078-8079, Trinh, Vu Quang, Seetaram, Neelu et al. (1 more author) (2023) Collusive Behaviour, Risk and Performance of Tourism Firms. Tourism Economics. pp. 2103-2128. ISSN 2044-0375
Abstract
This paper aims to enrich social network and managerial powers theories by examining the effects of board-CEO friendship ties in tourism firms. Specifically, we focus on the association between the board-CEO social network ties (e.g., serving external boards together or sharing memberships at social organizations) and performance and risk-taking behaviour among tourism firms. The findings show that friendship ties between CEO and board members result in higher risk-taking, lower profitability, and market values. In addition, professional ties (i.e., current and past employment) significantly impact tourism firms’ outcomes, whereas non-professional ties (i.e., education and other social organizations) do not. The findings prevail after controlling for the Covid-19 pandemic. However, friendship ties lead to better information sharing, resulting in more effective decision-making by board members.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details |
Keywords: | Board-CEO ties,Collusive behaviour,Firm’s risks,Firms’ performance,Market value,Governance,Tourism firms |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > The York Management School |
Depositing User: | Pure (York) |
Date Deposited: | 14 Oct 2022 08:40 |
Last Modified: | 16 Oct 2024 18:47 |
Published Version: | https://doi.org/10.1177/13548166221125988 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1177/13548166221125988 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:192104 |
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Filename: Author_accepted_manuscript.docx
Description: Accepted Author manuscript