Navigating market waves: How CEO political ideology shapes the currents of innovation-induced tourism value

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dc.contributor.authorCampayo-Sanchez, Fernandoen
dc.contributor.authorMas-Ruiz, Francisco J.en
dc.contributor.authorNicolau, Juan Luisen
dc.date.accessioned2024-09-10T19:21:39Zen
dc.date.available2024-09-10T19:21:39Zen
dc.date.issued2024-08en
dc.description.abstractThe 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 innovationrelated 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.en
dc.description.versionPublished versionen
dc.format.mimetypeapplication/pdfen
dc.identifier105033 (Article number)en
dc.identifier.doihttps://doi.org/10.1016/j.tourman.2024.105033en
dc.identifier.issn0261-5177en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/121104en
dc.identifier.volume106en
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.subjectInnovationen
dc.subjectPolitical ideologyen
dc.subjectPolitical climateen
dc.subjectMarket valueen
dc.titleNavigating market waves: How CEO political ideology shapes the currents of innovation-induced tourism valueen
dc.title.serialTourism Managementen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
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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