The Effect of Internationalization on Firm Performance: A Moderating Role of Heterogeneity in TMTs’ Nationality

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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Work Title The Effect of Internationalization on Firm Performance: A Moderating Role of Heterogeneity in TMTs’ Nationality
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Open Access
Creators
  1. Sujin Song
  2. Seoki Lee
Keyword
  1. Internationalization
  2. Performance
  3. Multiple measures
  4. Top management team
  5. Nationality
License In Copyright (Rights Reserved)
Work Type Article
Publisher
  1. Cornell Hospitality Quarterly
Publication Date September 13, 2021
Publisher Identifier (DOI)
  1. https://doi.org/10.1177/1938965520958703
Deposited August 05, 2022

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Version 1
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  • Created
  • Added Song_and_Lee__2021__CQ_Accepted_Version.docx
  • Added Creator Sujin Song
  • Added Creator Seoki Lee
  • Published
  • Updated Keyword, Publication Date Show Changes
    Keyword
    • Internationalization, Performance, Multiple measures, Top management team, Nationality
    Publication Date
    • 2021-11-01
    • 2021-09-13
  • Updated