Finance-oriented directors and crisis management: Blissful ignorance in the hospitality industry?

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dc.citation.issueC
dc.citation.volume32
dc.contributor.authorMacpherson WG
dc.contributor.authorIaquinto AL
dc.contributor.authorJannicelle V
dc.date.available2017-05-24
dc.date.issued2017-05-24
dc.description.abstractThe primary purpose of this study was to examine the demographic characteristics of Boards of Directors in the hospitality industry, and how those characteristics can impact a firm's performance during a major crisis. More specifically, using the upper echelons perspective, this study examined the impact of finance-oriented directors, and directors who were outsiders, on a company's stock price during the great recession. Results using companies from the hospitality industry indicate that companies that had the highest percentage of finance-orientated directors tended to fall further and recover less quickly. Yet, in the aftermath of the crisis, companies that performed worse during the crisis tended to increase the percentage of finance-oriented directors. The authors of the study assert that extending the application of the blissful ignorance effect is a logical explanation for the behavior found in the results.
dc.description.confidentialfalse
dc.description.publication-statusSubmitted
dc.format.extent82 - 88 (8)
dc.identifierhttps://www.elsevier.com/
dc.identifier.citationJournal of Hospitality and Tourism Management, 2017, 32 (C), pp. 82 - 88 (8)
dc.identifier.doi10.1016/j.jhtm.2017.04.008
dc.identifier.elements-id344265
dc.identifier.harvestedMassey_Dark
dc.identifier.issn1447-6770
dc.publisherElsevier
dc.publisher.urihttps://www.elsevier.com/
dc.relation.isPartOfJournal of Hospitality and Tourism Management
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
dc.subjectCrisis management, Upper echelons, Finance-oriented directors, Blissful ignorance
dc.subject.anzsrc1504 Commercial Services
dc.subject.anzsrc1506 Tourism
dc.titleFinance-oriented directors and crisis management: Blissful ignorance in the hospitality industry?
dc.typeJournal article
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/Massey Business School
pubs.organisational-group/Massey University/Massey Business School/School of Management
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