 The impact of celebrity CEOs on restaurant firm performance: The moderating role of environmental dynamismBora Kim and Seoki Lee Journal of Business Research, 2022, vol. 139, issue C, 869-880 Abstract: In today’s media-saturated world, intense media attention propels some CEOs to stardom. This social escalation of CEOs to celebrities inherently affects their actions and strategic choices, and thus the performance of their host organizations. Despite the importance of understanding upper echelons—especially celebrity CEOs in the tourism and hospitality industry—researchers have devoted little attention to the implications of CEO celebrity. As a result, whether CEO celebrity serves as a company asset or liability remained largely unknown. Based on the upper echelons theory and CEOs’ behavioral constraints, this study uncovers and provides initial empirical evidence on how a CEO’s celebrity affects firm performance, with a detailed examination of the restaurant industry. Further, we show that industry dynamism, an important external environmental factor, plays a positive moderating role such that the positive effect of CEO celebrity on firm performance becomes weaker as industry dynamism increases. Keywords: Celebrity; CEO; Social Evaluation; Environmental Dynamism; Restaurant Industry; Firm Performance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:139:y:2022:i:c:p:869-880 DOI: 10.1016/j.jbusres.2021.10.031 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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