The effect of generalist CEOs on social novelty in the restaurant industry
International Journal of Contemporary Hospitality Management
ISSN: 0959-6119
Article publication date: 28 February 2022
Issue publication date: 4 April 2022
Abstract
Purpose
Through the lens of the upper echelons theory, this study aims to investigate how generalist chief executive officers (CEOs) affect social novelty. This paper also explores the moderating effect of CEO power on the relationship between generalist CEOs and social novelty.
Design/methodology/approach
This study uses generalized estimating equation models and robust standard errors by firm to correct for autoregressive disturbances within clusters in the data.
Findings
Restaurant firms with generalist CEOs are likely to feature gender diversity and member change in the top management structure. This positive effect of a generalist CEO on top management team’s (TMT) structure is enhanced by the CEO’s power over board members.
Practical implications
This study presents important evidence that CEOs’ characteristics largely influence the gender heterogeneity and dynamic of the TMT, which in turn promote and shape innovative initiatives and actions.
Originality/value
To the best of the authors’ knowledge, this paper is one of the first to investigate the effect of CEOs’ human capital on the way in which the TMT is composed and characterized in the restaurant sector.
Keywords
Acknowledgements
This work was supported by the Dong-A university research fund.
Citation
Park, S. and Lee, S. (2022), "The effect of generalist CEOs on social novelty in the restaurant industry", International Journal of Contemporary Hospitality Management, Vol. 34 No. 5, pp. 1906-1924. https://doi.org/10.1108/IJCHM-06-2021-0698
Publisher
:Emerald Publishing Limited
Copyright © 2022, Emerald Publishing Limited