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Collusive Behaviour, Risk and Performance of Tourism Firms

Lookup NU author(s): Dr Vu TrinhORCiD



This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).


This paper aims to enrich social network and managerial powers theories by examining the effects of board-CEO friendship ties in tourism firms. Specifically, we focus on the association between the board-CEO social network ties (e.g., serving external boards together or sharing memberships at social organizations) and performance and risk-taking behaviour among tourism firms. The findings show that friendship ties between CEO and board members result in higher risk-taking, lower profitability, and market values. In addition, professional ties (i.e., current and past employment) significantly impact tourism firms’ outcomes, whereas non-professional ties (i.e., education and other social organizations) do not. The findings prevail after controlling for the Covid-19 pandemic. However, friendship ties lead to better information sharing, resulting in more effective decision-making by board members.

Publication metadata

Author(s): Trinh VQ, Seetaram N, Duong KT, Vo XV

Publication type: Article

Publication status: Published

Journal: Tourism Economics

Year: 2023

Volume: 298

Issue: 8

Pages: 2103-2128

Print publication date: 01/12/2023

Online publication date: 23/09/2022

Acceptance date: 27/08/2022

Date deposited: 27/08/2022

ISSN (print): 1354-8166

ISSN (electronic): 2044-0375

Publisher: Sage Publications Ltd.


DOI: 10.1177/13548166221125988


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