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

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dc.contributor.authorCampayo-Sanchez, Fernandoen
dc.contributor.authorSharma, Abhinaven
dc.contributor.authorMas-Ruiz, Francisco J.en
dc.contributor.authorNicolau, Juan Luisen
dc.date.accessioned2024-11-25T16:13:17Zen
dc.date.available2024-11-25T16:13:17Zen
dc.date.issued2025-02-01en
dc.description.abstractThe 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.en
dc.description.versionPublished versionen
dc.format.mimetypeapplication/pdfen
dc.identifier103990 (Article number)en
dc.identifier.doihttps://doi.org/10.1016/j.ijhm.2024.103990en
dc.identifier.issn0278-4319en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/123651en
dc.identifier.volume125en
dc.language.isoenen
dc.publisherElsevieren
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectUpper echelons theoryen
dc.subjectRate parity agreementen
dc.subjectHotelen
dc.subjectOnline travel agencyen
dc.subjectCEOen
dc.titleSetting the Course: CEO Beliefs as the North Star in the Hotel-OTA Relationshipen
dc.title.serialInternational Journal of Hospitality Managementen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherJournal Articleen
pubs.organisational-groupVirginia Techen
pubs.organisational-groupVirginia Tech/Pamplin College of Businessen
pubs.organisational-groupVirginia Tech/Pamplin College of Business/Hospitality and Tourism Managementen
pubs.organisational-groupVirginia Tech/All T&R Facultyen
pubs.organisational-groupVirginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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