Strategic Directions of Hotel Industry Expectations

A factor analysis is presented which indicates that among 20 potential strategic issues reated by hotl industry executives three fundamental strategic directions exist. The author summarizes an empiracle study that queried these individuals' beliefs regarding strategic issues they rated at most important.

Essays of strategic alliance portfolio configuration—Its performance properties, strategic antecedents and consequential effects on multinational firms' continuing foreign expansion

This dissertation focused on an increasingly prevalent phenomenon in today's global business environment—strategic alliance portfolio. Building on resource-based view, resource dependency theory and real options theory, this dissertation adopted a multi-dimensional perspective to examine the performance implications, strategic antecedents of alliance portfolio configuration, and its strategic effects on firms' decision-making on their continuing foreign expansion. The dissertation consisted of three interrelated essays, each of which dealt with a specific research question. In the first essay I applied a two-dimensional construct that embraces both alliance relations' and alliance partners' attributes to illustrate alliance portfolio configuration. Based on this framework, a longitudinal study was conducted attempting to explore the performance properties of alliance portfolio configuration. The results revealed that alliance diversity and partner diversity have different relative contributions to firms' economic performance. The relationship between alliance portfolio configuration and firm performance was shaped by degree of multinationality in a curvilinear pattern. The second essay attempted to identify the firm level driving forces of alliance portfolio configuration and how these forces interacting with firms' internationalization influence firms' strategic choices on alliance portfolio configuration. The empirical results indicated that past alliance experience, slack resource and firms' brand images are three critical determinants shaping alliance portfolios, but those shaping relationships are conditioned by firms' multinationality. The third essay primarily employed real options theory to build a conceptual framework, revealing how country-, alliance portfolio-, firm-, and industry level factors and their interactions influence firms' strategic decision-making on post-entry continuing expansion in foreign markets. The two empirical studies were resided in global hospitality and travel industries and use panel data to test the relevant theoretical models. Overall, the dissertation advanced and enriched the theoretical domain of alliance portfolio. It particularly shed valuable insights on three fundamental questions in the domain of alliance portfolio research, namely "if and how alliance portfolios contribute to firms' economic performance"; "what determines the appearance of alliance portfolios”; and "how alliance portfolios affect firms' strategic decision-making". This dissertation also extended the international business and strategic management research on service multinationals' foreign expansion and performance.

A Review of Merger and Acquisition Wave Literature: Proposing Future Research in the Restaurant Industry

The purpose of this study is to identify research trends in Merger and Acquisition waves in the restaurant industry and propose future research directions by thoroughly reviewing existing Merger and Acquisition related literature. Merger and Acquisition has been extensively used as a strategic management tool for fast growth in the restaurant industry. However, there has been a very limited amount of literature that focuses on Merger & Acquisition in the restaurant industry. Particular, no known study has been identified that examined M&A wave and its determinants. A good understanding of determinants of M&A wave will help practitioners identify important factors that should be considered before making M&A decisions and predict the optimal timing for successful M&A transactions. This study examined literature on six U.S M&A waves and their determinants and summarized main explanatory factors examined, statistical methods, and theoretical frameworks. Inclusion of unique macroeconomic factors of the restaurant industry and the use of factor analysis are suggested for future research.

Foreign-born CEOs, Country-Specific Skills, Selection, and Strategic Consequences

In this dissertation, I first suggest an extension of the managerial rents model and more specifically the managerial skills typology that it offers. Building on research in international business, I propose adding country-specific skills (CSS) to this typology in addition to firm-specific, industry-specific, and generic skills. I define CSS as managers’ abilities that are applicable and specific to a particular national institutional context. Such skills are distinct from the other three types identified and are likely to influence managers’ performance and the performance of their firms. So if CSS are distinct skills, what are the implications for strategy and international business research? In an attempt to respond to this question, I conduct two empirical essays in which I examine the implications of this refinement of the typology of managerial skills for CEO selection and firms’ mergers and acquisitions (M&A) strategy. In the first empirical essay, I puzzle at the fact that although CSS constitute a barrier to high-level executive mobility across countries, there have been a growing number of foreign-born CEOs being appointed across the globe. Why are these individuals being selected for the post of CEO? Using information on the appointment of foreign-born and national CEOs from 2005 to 2010 among global 500 companies, I show that internationalization pressures help explain their selection and that two types of firms are likely to appoint foreign leaders: highly internationalized firms and firms that are likely to internationalize. In the second empirical essay, I examine the strategic implications of country-specific skills. Employing the same sample as the one used in the first empirical essay, I demonstrate that given that their mindset is likely to be less focused on firms’ home market, foreign-born CEOs may be prone to institute more changes in firms’ cross-border M&A strategy than their domestic counterparts. I also theorize on the moderating influence of CEOs’ insiderness.

Restaurant Industry Perspectives on Pro-social Rule Breaking: Intent versus Action

The resounding message extracted from the service literature is that employees serve pivotal functions in the overall guest experience. This is of course due to the simultaneous delivery of personalized service provision with resultant consumption of those services. This simultaneous delivery and consumption cycle is at times challenged by a perceived desire to accommodate guest request that may violate, to a greater or lesser degree, an organizational rule. This is important to note because increased interactions with customers enable frontline employees to have a better sense of what customers want from the company as well as from the company itself (Bitner, et al, 1994). With that platform established, then why are some employees willing to break organizational rules and risk disciplinary action to better service a customer? This study examines the employee personality, degree of autonomy, job meaning, and co-worker influence on an employee's decision to break organizational rules. The results of this study indicate that co-worker influence exerted a minimal influence on employee decision to break rules while the presence of societal consciousness exerted a much stronger influence. Women reported that they were less likely to engage in rule divergence, and significant correlations were present when filtered by years in current position, and years in the industry.

The Industry and Recent Graduates: A Relationship in Transition

The industry is attempting to become more involved with graduates and currently-enrolled students in hospitality education programs. This article re- views the current situation, describes problems which exist, and proposes potential strategies to help resolve the problems.

An Industry View of Experiential Learning

With the downsizing of hotel companies in the 1980s and 1990s. internships became a way of supplementing staff during peak seasons and auditioning students for full-time positions upon graduation. The authors surveyed corporate directors of human resources on specific activities and tasks associated with experiential learning in the guest services areas of hotels.

Interdependencies in corporate development: Relationship between strategic alliance and acquisition activities

A substantial amount of work in the field of strategic management has attempted to explain the antecedents and outcomes of organizational learning. Though multinational corporations simultaneously engage in various types of tasks, activities, and strategies on a regular basis, the transfer of organizational learning in a multi-task context has largely remained under-explored in the literature. To inform our understanding in this area, this dissertation aimed at synthesizing findings from two parallel research streams of corporate development activities: strategic alliances and acquisitions. Structured in the form of two empirical studies, this dissertation examines: 1) the strategic outcomes of alliance experience of previously allying partners in terms of subsequent acquisition attempts, and 2) the performance implications of prior alliance experience for acquisitions. The first study draws on the relational view of inter-organizational governance to explain how various deal-specific and dyadic characteristics of a partnership relate to partnering firms' post-alliance acquisition attempts. This model theorizes on a variety of relational mechanisms to build a cohesive theory of inter-organizational exchanges in a multi-task setting where strategic alliances ultimately lead to a firm's decision to commit further resources. The second study applies organizational learning theory, and specifically examines whether frequency, recency, and relatedness of different dimensions of prior alliances, beyond the dyad-level experience, relate to an acquirer's superior post-acquisition performance. The hypotheses of the studies are tested using logistic and ordinary least square regressions, respectively. Results analyzed from a sample of cross-border alliance and acquisition deals attempted (for study I) and/or completed (for study II) during the period of 1991 to 2011 generally support the theory that relational exchange determines acquiring firms' post alliance acquisition behavior and that organizational routines and learning from prior alliances influence a future acquirer's financial performance. Overall, the empirical findings support our overarching theory of interdependency, and confirm the transfer effect of learning across these alternate, yet related corporate strategies of alliance and acquisition.^

The mediating effect of innovation on the relationship between corporate reputation and performance in U.S. firms

In recent years, corporate reputation has gained the attention of many scholars in the strategic management and related fields. There is a general consensus that higher corporate reputation is positively related to firm success or performance. However, the link is not always straightforward; as a result, it calls for researchers to dedicate their efforts to investigate the causes and effects of firm reputation and how it is related to performance. In this doctoral dissertation, innovation is suggested as a mediating variable in this relationship. Innovation is a critical factor for firm success and survival. Highly reputed firms are in a more advantageous position to attract critical resources for innovation such as human and financial capital. These firms face constant pressure from external stakeholders, e.g. the general public, or customers, to achieve and remain at high levels of innovativeness. As a result, firms are in constant search, internally or externally, for new technologies expanding their knowledge base. Consequently, these firms engage in firms acquisitions. In the dissertation, the author assesses the effects of domestic versus international acquisitions as well as related versus unrelated acquisitions on the level of innovativeness and performance. Building upon an established measure of firm-level degree of internationalization (DOI), the dissertation proposes a more detailed and enhanced measure for the firm's DOI. It is modeled as an interaction effect between corporate reputation and resources for innovation. More specifically, firms with higher levels of internationalization will have access to resources for innovation, i.e. human and financial capital, at a global scale. Additionally, the distance between firms and higher education institutions, i.e. universities, is considered as another interaction effect for the human capital attraction. The dissertation is built on two theoretical frameworks, the resource-based view of the firm and institutional theory. It studies 211 U.S. firms using a longitudinal panel data structure from 2006 to 2012. It utilizes a linear dynamic panel data estimation methodology for its hypotheses analyses. Results confirm the hypotheses proposed in the study.

Restaurant Industry Perspectives on Pro-social Rule Breaking: Intent versus Action

The resounding message extracted from the service literature is that employees serve pivotal functions in the overall guest experience. This is of course due to the simultaneous delivery of personalized service provision with resultant consumption of those services. This simultaneous delivery and consumption cycle is at times challenged by a perceived desire to accommodate guest request that may violate, to a greater or lesser degree, an organizational rule. This is important to note because increased interactions with customers enable frontline employees to have a better sense of what customers want from the company as well as from the company itself (Bitner, et al, 1994). With that platform established, then why are some employees willing to break organizational rules and risk disciplinary action to better service a customer? This study examines the employee personality, degree of autonomy, job meaning, and co-worker influence on an employee's decision to break organizational rules. The results of this study indicate that co-worker influence exerted a minimal influence on employee decision to break rules while the presence of societal consciousness exerted a much stronger influence. Women reported that they were less likely to engage in rule divergence, and significant correlations were present when filtered by years in current position, and years in the industry.

CEO Humility: Development of an Unobtrusive Measure and Strategic Implications

Over the past 30 years, the Upper Echelons perspective of strategic management has sought to explain a given organization’s strategies and effectiveness as a reflection of the differences in personality, background, and other characteristics of the senior executives that guides each organization. An important stream of research within this field has linked a firm’s strategy to the grandiose way that executives are often thought to view themselves – namely through examining the narcissism, core self-evaluations (CSE), and hubris of Chief Executive Officers (CEOs). In this dissertation, I focus on understanding the strategic impact of CEO humility – a trait that has often been erroneously thought of to represent a poor view of oneself. Consistent with ancient writings and recent research, humility is defined herein as a multi-faceted trait that is the common core of four dimensions: self-awareness, developmental orientation/teachability, appreciation of others' strengths and contributions, and low self-focus. In the first essay, I explore the conceptual relevance and various potential implications of executive humility. Drawing on existing empirical research about the humility construct and general behavioral implications of humility, I argue that executive humility is a critical avenue toward a more rich and nuanced understanding of the delicate interplay and implications of executive self-concept. In essay two, I develop and validate an unobtrusive measure of CEO humility. Ten indicators of humility are suggested and then validated using a self-reported survey administered to a sample of 30 U.S. and Canadian CEOs. Two behaviors were found to be significantly positively related to self-reported humility: CEOs who volunteered some of their time for non-profit organizations and CEO’s who reported that part of their own firm’s success was due to the help of the board of directors. In essay three, I examine the relationship between the level of CEO humility and four firm-level outcomes. Employing a sample of 163 CEOs appointed to S&P 500 firms between 2005-2008, I show that firms led by humble CEOs (measured by the unobtrusive indicators) tend to outperform others in regards to corporate social performance, while at the same time showing that their financial performance is generally no better or worse.

Interdependencies in Corporate Development: Relationship between Strategic Alliance and Acquisition Activities

A substantial amount of work in the field of strategic management has attempted to explain the antecedents and outcomes of organizational learning. Though multinational corporations simultaneously engage in various types of tasks, activities, and strategies on a regular basis, the transfer of organizational learning in a multi-task context has largely remained under-explored in the literature. To inform our understanding in this area, this dissertation aimed at synthesizing findings from two parallel research streams of corporate development activities: strategic alliances and acquisitions. Structured in the form of two empirical studies, this dissertation examines: 1) the strategic outcomes of alliance experience of previously allying partners in terms of subsequent acquisition attempts, and 2) the performance implications of prior alliance experience for acquisitions. The first study draws on the relational view of inter-organizational governance to explain how various deal-specific and dyadic characteristics of a partnership relate to partnering firms’ post-alliance acquisition attempts. This model theorizes on a variety of relational mechanisms to build a cohesive theory of inter-organizational exchanges in a multi-task setting where strategic alliances ultimately lead to a firm’s decision to commit further resources. The second study applies organizational learning theory, and specifically examines whether frequency, recency, and relatedness of different dimensions of prior alliances, beyond the dyad-level experience, relate to an acquirer’s superior post-acquisition performance. The hypotheses of the studies are tested using logistic and ordinary least square regressions, respectively. Results analyzed from a sample of cross-border alliance and acquisition deals attempted (for study I) and/or completed (for study II) during the period of 1991 to 2011 generally support the theory that relational exchange determines acquiring firms’ post alliance acquisition behavior and that organizational routines and learning from prior alliances influence a future acquirer’s financial performance. Overall, the empirical findings support our overarching theory of interdependency, and confirm the transfer effect of learning across these alternate, yet related corporate strategies of alliance and acquisition.

Regional Diversification and Performance: Conceptualization and Competing Strategic Objectives

This dissertation comprised of three essays provides justification for the need to pursue research on multinationality and performance with a more fine-grained approach. Essay one is a conceptual response to an article written by Jean-Francois Hennart in 2011 which questions the need and approach toward future research in this domain. I argue that internalization theory does not render multinationality and performance research meaningless and identify key areas where methodological enhancements can be made to strengthen our research findings with regard to Hennart’s call for more content validity. Essay two responds to the need for more-fine grained research on the consequences of multinationality by introducing non-traditional measures of performance such as social and environmental performance and adopting a more theoretically relevant construct of regionalization to capture international diversification levels of the firm. Using data from the world’s largest 600 firms (based on sales) derived from Bloomberg and the Directory of Corporate Affiliates; I employ general estimating equation analysis to account for the auto-correlated nature of the panel data alongside multivariate regression techniques. Results indicate that regionalization has a positive relationship with economic performance while it has a negative relationship with environmental and social performance outcomes, often referred to as the “Triple Bottom-Line” performance. Essay three builds upon the work in the previous essays by linking the aforementioned performance variables and sample to corporate reputation which has been shown to be a beneficial strategic asset. Using Structural Equation Modeling I explore economic, environmental and social signals as mediators on relationship between regionalization and firm reputation. Results indicate that these variables partially mediate a positive relationship between regionalization and firm reputation. While regionalization positively affects the reputation building signal of economic performance, it aids in reputation building by reducing environmental and social disclosure effects which interestingly impact reputation negatively. In conclusion, the dissertation submits opportunities for future research and contributes to research by demonstrating that regionalization affects performance, but the effect varies in accordance with the performance criterion and context. In some cases, regional diversification may produce competing or conflicting outcomes among the potential strategic objectives of the firm.

Towards the formation of a sustainable South Florida: An analysis of conflict resolution and consensus building in the South Florida Everglades Ecosystem Restoration Initiative

This dissertation examines the sociological process of conflict resolution and consensus building in South Florida Everglades Ecosystem Restoration through what I define as a Network Management Coordinative Interstitial Group (NetMIG). The process of conflict resolution can be summarized as the participation of interested and affected parties (stakeholders) in a forum of negotiation. I study the case of the Governor's Commission for a Sustainable South Florida (GCSSF) that was established to reduce social conflict. Such conflict originated from environmental disputes about the Everglades and was manifested in the form of gridlock among regulatory (government) agencies, Indian tribes, as well as agricultural, environmental conservationist and urban development interests. The purpose of the participatory forum is to reduce conflicts of interest and to achieve consensus, with the ultimate goal of restoration of the original Everglades ecosystem, while cultivating the economic and cultural bases of the communities in the area. Further, the forum aim to formulate consensus through envisioning a common sustainable community by providing means to achieve a balance between human and natural systems. ^ Data were gathered using participant observation and document analysis techniques to conduct a theoretically based analysis of the role of the Network Management Coordinative Interstitial Group (NetMIG). I use conflict resolution theory, environmental conflict theory, stakeholder analysis, systems theory, differentiation and social change theory, and strategic management and planning theory. ^ The purpose of this study is to substantiate the role of the Governor's Commission for a Sustainable South Florida (GCSSF) as a consortium of organizations in an effort to resolve conflict rather than an ethnographic study of this organization. Environmental restoration of the Everglades is a vehicle for recognizing the significance of a Network Management Coordinative Interstitial Group (NetMIG), namely the Governor's Commission for a Sustainable South Florida (GCSSF), as a structural mechanism for stakeholder participation in the process of social conflict resolution through the creation of new cultural paradigms for a sustainable community. ^

The Political Economy of Financially Successful Independent Hip-Hop Artists

From 2000 to 2010, America’s music industry’s annual revenue went from $4 billion to $2 billion. Much of this is attributed to the internet’s ability to provide consumers with easy access to free music, and hip hop has been especially impacted by this trend. Utilizing document analysis and personal interviews, this study found that the success of independent artists has influenced the business strategies of major record companies. In response to a dramatic decrease in record sales, major labels have made more of an effort to sign their artists to 360 deals, which allow the labels to profit from every aspect of an artist’s brand or identity. While some independent artists are the main beneficiary of the profits generated from their music and personal brand, they also reify the commodity-form capitalist system by attempting to turn their music and brand into a fetishized commodity and by turning their audience into a fetishized commodity.