{"title":"驾驭市场浪潮：首席执行官的政治意识形态如何影响创新引发的旅游价值潮流","authors":"","doi":"10.1016/j.tourman.2024.105033","DOIUrl":null,"url":null,"abstract":"<div><p>The upper echelons theory postulates that the cognitive frameworks of top executives shape organizational decisions and behaviors. Based on this theory, this study contributes to the literature by analyzing the effects of the chief executive officer's (CEO) political ideology and political climate on variations in the market value of tourism firms resulting from their innovation activities. An empirical application was conducted on major U.S. hotel companies that have traded on the stock market for the last 25 years (1998–2022) and made innovation-related announcements. This application shows that, although the implementation of innovative activities positively affects a firm's market value, both the CEO's political ideology and the political climate influence the degree of change in the said market value. This study has fundamental theoretical implications for upper echelons theory by improving the understanding of how cognitive diversity derived from political ideology influences decision-making and its outcomes.</p></div>","PeriodicalId":48469,"journal":{"name":"Tourism Management","volume":null,"pages":null},"PeriodicalIF":10.9000,"publicationDate":"2024-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0261517724001523/pdfft?md5=16c55290aece4d66884c663df0666c65&pid=1-s2.0-S0261517724001523-main.pdf","citationCount":"0","resultStr":"{\"title\":\"Navigating market waves: How CEO political ideology shapes the currents of innovation-induced tourism value\",\"authors\":\"\",\"doi\":\"10.1016/j.tourman.2024.105033\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The upper echelons theory postulates that the cognitive frameworks of top executives shape organizational decisions and behaviors. Based on this theory, this study contributes to the literature by analyzing the effects of the chief executive officer's (CEO) political ideology and political climate on variations in the market value of tourism firms resulting from their innovation activities. An empirical application was conducted on major U.S. hotel companies that have traded on the stock market for the last 25 years (1998–2022) and made innovation-related announcements. This application shows that, although the implementation of innovative activities positively affects a firm's market value, both the CEO's political ideology and the political climate influence the degree of change in the said market value. This study has fundamental theoretical implications for upper echelons theory by improving the understanding of how cognitive diversity derived from political ideology influences decision-making and its outcomes.</p></div>\",\"PeriodicalId\":48469,\"journal\":{\"name\":\"Tourism Management\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":10.9000,\"publicationDate\":\"2024-08-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://www.sciencedirect.com/science/article/pii/S0261517724001523/pdfft?md5=16c55290aece4d66884c663df0666c65&pid=1-s2.0-S0261517724001523-main.pdf\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Tourism Management\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0261517724001523\",\"RegionNum\":1,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ENVIRONMENTAL STUDIES\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Tourism Management","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0261517724001523","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
Navigating market waves: How CEO political ideology shapes the currents of innovation-induced tourism value
The upper echelons theory postulates that the cognitive frameworks of top executives shape organizational decisions and behaviors. Based on this theory, this study contributes to the literature by analyzing the effects of the chief executive officer's (CEO) political ideology and political climate on variations in the market value of tourism firms resulting from their innovation activities. An empirical application was conducted on major U.S. hotel companies that have traded on the stock market for the last 25 years (1998–2022) and made innovation-related announcements. This application shows that, although the implementation of innovative activities positively affects a firm's market value, both the CEO's political ideology and the political climate influence the degree of change in the said market value. This study has fundamental theoretical implications for upper echelons theory by improving the understanding of how cognitive diversity derived from political ideology influences decision-making and its outcomes.
期刊介绍：
Tourism Management, the preeminent scholarly journal, concentrates on the comprehensive management aspects, encompassing planning and policy, within the realm of travel and tourism. Adopting an interdisciplinary perspective, the journal delves into international, national, and regional tourism, addressing various management challenges. Its content mirrors this integrative approach, featuring primary research articles, progress in tourism research, case studies, research notes, discussions on current issues, and book reviews. Emphasizing scholarly rigor, all published papers are expected to contribute to theoretical and/or methodological advancements while offering specific insights relevant to tourism management and policy.
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