Setting the Course: CEO Beliefs as the North Star in the Hotel-OTA Relationship

IF 9.9 1区管理学 Q1 HOSPITALITY, LEISURE, SPORT & TOURISM International Journal of Hospitality Management Pub Date : 2024-11-14 DOI:10.1016/j.ijhm.2024.103990

Fernando Campayo-Sanchez , Abhinav Sharma , Francisco José Mas-Ruiz , Juan Luis Nicolau

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Abstract

The upper echelons theory posits that a CEO’s cognitive and perceptual processes, as well as their values and experiences, influence their decision-making and, consequently, their strategic choices. In the complex love-hate relationship between hotels and online travel agencies, the topic of rate parity agreements is controversial and heated, wherein a CEO’s values, beliefs, and convictions potentially playing a critical role in guiding actions. This study tests this hypothesis by investigating how CEO political ideologies affect changes in hotel market value resulting from the dismissal of the U.S. rate parity lawsuit. The results reveal that the reduction in hotel companies’ market value due to the lawsuit’s dismissal is accentuated by CEO liberalism. Conservative CEOs seem to prioritize shareholder interests, aligning with investor expectations for value preservation amid online travel agencies’ consolidation of market power. This study holds theoretical and managerial implications for the upper echelons theory, corporate governance, and market competition studies.

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确定方向：首席执行官的信念是酒店与 OTA 关系中的北极星

上层理论认为，首席执行官的认知和感知过程以及他们的价值观和经验会影响他们的决策，进而影响他们的战略选择。在酒店与在线旅行社之间复杂的爱恨情仇中，关于费率平价协议的话题充满争议和激烈，其中首席执行官的价值观、信仰和信念可能在指导行动中发挥关键作用。本研究通过调查首席执行官的政治意识形态如何影响美国费率平价诉讼驳回后酒店市场价值的变化来验证这一假设。研究结果表明，首席执行官的自由主义会加剧因诉讼被驳回而导致的酒店公司市场价值的下降。保守派首席执行官似乎优先考虑股东利益，这与投资者在在线旅行社整合市场力量时对保值的预期一致。本研究对上层理论、公司治理和市场竞争研究具有理论和管理意义。

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来源期刊

International Journal of Hospitality Management HOSPITALITY, LEISURE, SPORT & TOURISM-

CiteScore

21.20

自引率

9.40%

发文量

218

审稿时长

85 days

期刊介绍： The International Journal of Hospitality Management serves as a platform for discussing significant trends and advancements in various disciplines related to the hospitality industry. The publication covers a wide range of topics, including human resources management, consumer behavior and marketing, business forecasting and applied economics, operational management, strategic management, financial management, planning and design, information technology and e-commerce, training and development, technological developments, and national and international legislation. In addition to covering these topics, the journal features research papers, state-of-the-art reviews, and analyses of business practices within the hospitality industry. It aims to provide readers with valuable insights and knowledge in order to advance research and improve practices in the field. The journal is also indexed and abstracted in various databases, including the Journal of Travel Research, PIRA, Academic Journal Guide, Documentation Touristique, Leisure, Recreation and Tourism Abstracts, Lodging and Restaurant Index, Scopus, CIRET, and the Social Sciences Citation Index. This ensures that the journal's content is widely accessible and discoverable by researchers and practitioners in the hospitality field.