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

Chen Zheng and Henry Tsai
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Chen Zheng: The Hong Kong Polytechnic University, China
Henry Tsai: The Hong Kong Polytechnic University, China

Tourism Economics, 2019, vol. 25, issue 7, 1084-1104

Abstract: 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.

Keywords: board size; diversification; firm performance; relatedness; tourism (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:25:y:2019:i:7:p:1084-1104

DOI: 10.1177/1354816618823427

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