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    Corporate governance, tourism growth and firm performance: evidence from publicly listed tourism firms in five Middle Eastern countries

    Al-Najjar, Basil (2014) Corporate governance, tourism growth and firm performance: evidence from publicly listed tourism firms in five Middle Eastern countries. Tourism Management 42 , pp. 342-351. ISSN 0261-5177.

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    Abstract

    This study explores the under-researched relationship between corporate governance and firm performance in tourism companies. We employ instrumental variable modelling using 2SLS for publicly listed firms in five countries in the Middle East. Board independence is found to be positively related to firm performance and stock performance, suggesting that having independent directors among board members will improve overall firm performance. Board size shows opposing results: large boards enhance firm profitability; however, small boards exhibit more efficient stock performance. Finally, we support the tourism-led-growth hypothesis in our selected sample. These findings have empirical implications for policy makers, governments and academics.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): Board size, Board independence, Tourism growth, Firm performance, 2SLS, Logit modelling
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Depositing User: Administrator
    Date Deposited: 10 Jan 2014 13:35
    Last Modified: 19 Feb 2014 13:46
    URI: http://eprints.bbk.ac.uk/id/eprint/8904

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