SHS Web of Conferences
Volume 12, 20144th International Conference on Tourism Research (4ICTR)
|Number of page(s)||7|
|Published online||19 November 2014|
Corporate Diversification and Firm Performance: Evidence from Asian Hotel Industry
1 School of Management, Universiti Sains Malaysia, 11800, Penang, Malaysia
2 School of Housing, Building and Planning, Universiti Sains Malaysia, 11800, Penang, Malaysia
The unstable environment of hotel industry which is driven by the fluctuation of tourism demand has motivated this study to look into the best diversification strategy for firm performance betterment. 42 hotel firms are investigated across 4 Asian economies, from year 2001 to 2012. Our results suggest that unrelated industrial diversification is the only alternative to improve hotel firm performance. Unrelated international diversification instead has a significant negative effect towards firm performance. Our results further show that board of directors implies a significant link to the relationship between diversification and firm performance, only in a crisis period.
© Owned by the authors, published by EDP Sciences, 2014
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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