The effects of product diversification on firm performance and complementarities between products: A study of US casinos

被引:18
作者
Kang, Kyung Ho [1 ]
Lee, Seoki [1 ]
Yang, Hongsuk [2 ]
机构
[1] Temple Univ, Sch Tourism & Hospitality Management, Philadelphia, PA 19122 USA
[2] Seoul Natl Univ, Grad Sch Business, Seoul 151916, South Korea
关键词
Product diversification; Complementarity; Firm performance; Casino industry; WITHIN-INDUSTRY DIVERSIFICATION; CORPORATE DIVERSIFICATION; INTERNATIONAL DIVERSIFICATION; GEOGRAPHIC DIVERSIFICATION; TOBIN-Q; COMPETITION; STRATEGIES; INNOVATION; INVESTMENT; RESOURCES;
D O I
10.1016/j.ijhm.2010.06.008
中图分类号
F [经济];
学科分类号
02 ;
摘要
In spite of the growing importance of product diversification strategy and the existence of varying degrees of product diversity in the US casino industry, research of the effect of product diversification on firm performance has been sparse. By examining the impact of the degree of product diversification on both financial market- and accounting-based firm performance of sampled US casinos and complementarities between products, this study attempts to fill the gap in the hospitality literature. Results of this study show an inverse U-shaped relationship between the degree of product diversification and firm performance and complementarities between gaming business and food and beverage (F&B) business. These findings suggest that US casinos take into account both costs and benefits associated with product diversification, and consider F&B operations more preferentially as a supplementary business when implementing product diversification strategy. (C) 2010 Elsevier Ltd. All rights reserved.
引用
收藏
页码:409 / 421
页数:13
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