Collusive behaviour, risk and performance of tourism firms
Tourism Economics
; 2022.
Article
in English
| Scopus | ID: covidwho-2064613
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 organisations) 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 organisations) 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. © The Author(s) 2022.
Full text:
Available
Collection:
Databases of international organizations
Database:
Scopus
Type of study:
Prognostic study
Language:
English
Journal:
Tourism Economics
Year:
2022
Document Type:
Article
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