TY - JOUR
T1 - The Effect of Internationalization on Firm Performance
T2 - A Moderating Role of Heterogeneity in TMTs’ Nationality
AU - Song, Sujin
AU - Lee, Seoki
N1 - Funding Information:
The author(s) received no financial support for the research, authorship, or publication of this article.
Publisher Copyright:
© The Author(s) 2020.
PY - 2021/11
Y1 - 2021/11
N2 - The effect of internationalization on firm performance has been investigated in the hospitality literature in a relatively extensive manner. However, the literature has still provided mixed findings. Furthermore, the moderating role of top management teams (TMTs) on the relationship between internationalization and firm performance has not been explored yet in the hospitality literature. Considering the increasing importance of internationalization in the hospitality industry and a significant role of TMTs in implementing this internationalization, this study performs a comprehensive examination on the effect of internationalization on firm performance using three different internationalization measures (i.e., degree, diversification, and speed) and three different performance measures (i.e., Tobin’s q, return on assets, and international returns). This study also tests the moderating role of heterogeneity in TMTs’ nationality based on the upper echelons theory, employing hierarchical linear modeling (HLM) to test the proposed hypotheses.
AB - The effect of internationalization on firm performance has been investigated in the hospitality literature in a relatively extensive manner. However, the literature has still provided mixed findings. Furthermore, the moderating role of top management teams (TMTs) on the relationship between internationalization and firm performance has not been explored yet in the hospitality literature. Considering the increasing importance of internationalization in the hospitality industry and a significant role of TMTs in implementing this internationalization, this study performs a comprehensive examination on the effect of internationalization on firm performance using three different internationalization measures (i.e., degree, diversification, and speed) and three different performance measures (i.e., Tobin’s q, return on assets, and international returns). This study also tests the moderating role of heterogeneity in TMTs’ nationality based on the upper echelons theory, employing hierarchical linear modeling (HLM) to test the proposed hypotheses.
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U2 - 10.1177/1938965520958703
DO - 10.1177/1938965520958703
M3 - Article
AN - SCOPUS:85091008394
SN - 1938-9655
VL - 62
SP - 482
EP - 497
JO - Cornell Hospitality Quarterly
JF - Cornell Hospitality Quarterly
IS - 4
ER -