The moderating effect of board size on the relationship between diversification and tourism firm performance

被引：12
作者：
Zheng, Chen [1 ]
Tsai, Henry [1 ]
机构：
[1] Hong Kong Polytech Univ, Sch Hotel & Tourism Management, Hong Kong, Peoples R China
来源：
TOURISM ECONOMICS | 2019年 / 25卷 / 07期
关键词：
board size; diversification; firm performance; relatedness; tourism; WITHIN-INDUSTRY DIVERSIFICATION; FREE CASH FLOW; PRODUCT DIVERSIFICATION; BRAND DIVERSIFICATION; CORPORATE PERFORMANCE; CAPITAL STRUCTURE; MARKET; STRATEGY; COSTS; RELATEDNESS;
D O I：
10.1177/1354816618823427
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study examines the effects of diversification strategy and board size on firm performance as well as the moderating effect of board size on the relationship between diversification strategy and firm performance in the Chinese tourism industry from 2008 to 2015. The results show that related diversification positively influenced Chinese tourism firm performance, and unrelated diversification negatively influenced it. Board size was found to negatively moderate the relationship between related diversification and firm performance and to positively moderate the relationship between unrelated diversification and firm performance. In addition, the results imply that small boards are beneficial to Chinese tourism firms when both related and unrelated diversification strategies are implemented.
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页码：1084 / 1104
页数：21
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