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The purpose of this study is twofold: to investigate the relationship between restaurant firms’ internationalization and systematic risk, and to further examine the relationship between internationalization and systematic risk based on the type of restaurant firm (i.e. limited-service vs full-service restaurants).

This study analyzes data from US-based publicly traded restaurant firms by estimating systematic risk based on the Carhart four-factor model and by performing a two-way random-effects model.

Findings support not only the risk-reduction effect of internationalization on systematic risk but also the moderating effect of the role of restaurant type on the relationship between internationalization and systematic risk. More specifically, the risk-reduction effect of internationalization on systematic risk is greater for limited-service than full-service restaurants.

The findings of this study can provide restaurant executives with more confidence in pursuing internationalization as part of their risk management strategy, acknowledging that more international operations could mitigate restaurant firms’ systematic risk. More specifically, limited-service restaurants can more significantly enjoy the risk-reduction benefits by increasing their international operations than full-service restaurants based on the findings of this study. Furthermore, risk-averse investors could consider purchasing shares of limited-service multinational restaurants’ stocks to enjoy more risk-reduction benefits.

By focusing on the restaurant industry with consideration for the restaurant type, this study provides more tailored recommendations for implementing internationalization strategies with regard to risk management.

The purpose of the current study is to investigate the possible existence of a synergistic effect of internationalization and corporate social responsibility (CSR) on a firm’s value performance.

To empirically test the argument, this study analyzed data from 40 US-based publicly traded restaurant companies (251 observations) from 2000 to 2011 by performing a two-way fixed-effects model.

This study’s findings support the hypothesis that when implemented simultaneously, internationalization and CSR have a negative synergistic impact on a restaurant firm’s value performance.

Restaurant managers might need to inquire thoroughly into the timing and content of CSR investment strategies while entering into new international markets. Restaurant executives may additionally need to focus more on effective risk management than other issues (e.g. growth or reputation) when developing both internationalization and CSR strategies simultaneously.

By suggesting and demonstrating a negative synergistic effect of internationalization and CSR on a firm’s value, this study presents new and unique insights into previous research regarding the combined effect of the two strategies.

The purpose of this paper is to provide a benchmark for hotel operators to understand in-room technology trends and the impact of in-room technology on business performance.

The survey questions are based on existing literature and suggestions from the American Hotel and Lodging Association Technology and E-commerce Committee. The authors collected 206 usable samples from managers, vice presidents, presidents, owners and executives from hotel companies and utilized cross-tab analysis and multiple regression analysis.

The results demonstrate that installing specific in-room technologies can have a significant effect on enhancing the customer experience and increasing revenue. The study also presents the most commonly installed in-room technologies those hoteliers plan to install in the near future.

Proper strategies are recommended to help hospitality managers understand the impact of different in-room technologies on the hospitality industry; particularly as they relate to guest experience and profitability.

By identifying the most popular in-room technologies currently available and examining which in-room technologies can be effective at enhancing guest experience and increasing revenue, this study fills the gap between the findings of previous studies and the observations from industry practitioners.

Based on socioemotional selectivity theory, the authors aimed to develop and test hypotheses that identify the direct effect of top management team (TMT) age diversity on firms’ financial performance (return on equity [ROE], return on assets [ROA]) and the interactive effect of TMT age diversity and TMT average age on firms’ financial performance.

The paper presents results from a quantitative study of 867 TMTs in Korean manufacturing firms. Multiple hierarchical regression analysis was used to test the hypotheses.

The results show that TMT age diversity had a negative and significant main effect on ROE but not on ROA. They also indicate that the negative relationship between TMT age diversity and firm performance (ROE) was attenuated when the members of TMTs were relatively older.

First, this study extends existing TMT research, which mainly focuses on macro factors, such as industry and environment, by using micro factors, including TMT age diversity and TMT average age. Second, this paper combines and extends previous TMT studies, which have been dominated by either “property” or “tendency”, by examining the interactive effect of the distributional property (diversity) and central tendency (average) of TMT age on firms’ financial performance. Finally, this study indicates that socioemotional selectivity theory may be useful to explain the link between TMT age diversity and firms’ financial performance.

As globalization expands opportunities for foreign investments, the role of expatriates is becoming important for business success in host countries. Cross-cultural adjustment (CCA) of expatriates is considered significant in determining business success in host countries. This study investigated the issue among Japanese expatriates in Malaysia. The purposes of this study were to unravel the influence of emotional intelligence (EI) on CCA and clarify the facilitating role of cultural intelligence (CI) on the relationship between EI and CCA.

A survey was administered to 107 Japanese parent country nationals (PCNs) working at Japanese subsidiaries in Malaysia.

The findings show that EI positively influences the subdimensions of CCA, namely, CCA–general, CCA–social and CCA–work. A notable finding is that CI facilitates the positive effect of EI on CCA–social.

The findings advance the existing studies on expatriate management by delving into the CCA issue with two culturally distinctive countries that have rarely been studied in this research domain, Japan and Malaysia. This study further contributes to prior studies by clarifying a boundary condition in which EI functions better in enhancing expatriates' CCA.

The findings provide Japanese multinational corporations (MNCs) valuable directions and strategic ideas in the realm of expatriate management. Such insights can contribute to business success in host countries.

Diverting from the conventional West–East approach in expatriate management studies, this study took an East–East orientation and explored the relationships among EI, CI and CCA. By proving that CI stimulates the positive effect of EI on CCA, this study underlines the significantly interactive effects of two distinctive individual capabilities on enhancing expatriates' CCA. It further highlights that CI should take on importance in attempts to understand CCA, even in seemingly culturally similar East–East nations.

The purpose of this paper is to investigate the influence of gender on the effectiveness of transformational leadership. Drawing on role congruity theory, it elucidates the moderating effects of leader gender, subordinate gender, and leader-subordinate gender dyad on the relationship between transformational leadership and psychological empowerment.

Employees of companies in Korea responded to a paper-pencil survey, rating their psychological empowerment and leadership behaviors of their direct leader on a five-point Likert-type scale. The analysis includes 339 responses.

The results indicate that a leader’s gender has no significant moderating effect on psychological empowerment, but the gender of the subordinate has a significant moderating effect, with male subordinates more strongly influenced by transformational leadership than female subordinates. Notably, the findings show that the effectiveness of transformational leadership is contingent on the leader-subordinate gender dyad. Specifically, transformational leadership has as significant an effect on female leader-male subordinate dyads as on male leader-male subordinate dyads.

This study contributes to leadership and gender studies in the management field by investigating the effect of gender roles on the effectiveness of transformational leadership. Future research should extend this study and explore whether these findings are generalizable.

The remarkable finding of the effect of female leadership on employee empowerment suggests organizations should use more female leaders.

This is the first empirical study to shed light on gender issues in relation to transformational leadership in Korea.

Electronic Sports (eSports) is an emerging sector of the sports and entertainment industry experiencing an accelerated increase in consumer and sponsor demand. This paper aims to study selected cases of eSports service ecosystems, to identify similarities and differences and to understand the different roles, relationships and multiple interactions of actors involved in value co-creation processes.

This empirical paper follows the service-dominant logic to highlight value creation. Based on the sport value framework, an organizing logic for the actors in sports-related ecosystems to exchange service and co-create value, the authors apply the conceptualization of an eSports service ecosystem framework in which actors create value through their interactions. A case study approach was applied to qualitatively describe two cases of value co-creation by multiple actors during three eSports events. Case study 1a is the 2019 League of Legends World Championship Finals in Paris. Case study 1b is the 2020 League of Legends World Championship Finals in Shanghai. Case study 2 is the BLAST Premier Counter-Strike: Global Offensive Global Final 2020, which was entirely virtual.

The outcome is an empirically investigated conceptual framework of multiple actors co-creating value within a service ecosystem in eSports. The insights of the cases explain how actors interact with each other and co-create value during events in eSports ecosystems. The cases illustrate interactions in the context of eSports where the actors are connected within ecosystems. This enables further development of a value co-creation concept and a better understanding of value co-creation in eSports.

This study contributes to research by explicating a theoretically grounded framework for eSports service ecosystems based on empirical evidence. This research extends the scope of value co-creation beyond the firm–customer dyad to a service ecosystem in eSports, demonstrating the dynamic interactions of multiple actors.