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Effects of the size of the board of directors and board involvement in strategy on a private club's financial performance

Seung Hyun Kim (The School of Hospitality Business, Eli Broad College of Business, Michigan State University, East Lansing, Michigan, USA)
Jae Min Cha (The School of Hospitality Business, Eli Broad College of Business, Michigan State University, East Lansing, Michigan, USA)
Ronald F. Cichy (The School of Hospitality Business, Eli Broad College of Business, Michigan State University, East Lansing, Michigan, USA)
Mi Ran Kim (The School of Hospitality Business, Eli Broad College of Business, Michigan State University, East Lansing, Michigan, USA)
Julie L. Tkach (The School of Hospitality Business, Eli Broad College of Business, Michigan State University, East Lansing, Michigan, USA)

International Journal of Contemporary Hospitality Management

ISSN: 0959-6119

Article publication date: 3 February 2012

2256

Abstract

Purpose

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The purpose of this paper is to explore the effects of the size of the board of directors and board involvement in strategy on financial performance in the private club industry.

Design/methodology/approach

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Data were collected in a web‐based survey of chief operating officers (COOs) and general managers (GMs) who are members of the Club Managers Association of America (CMAA). Hierarchical regression analysis of data from 360 respondents was used to examine the proposed model.

Findings

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The results showed that board members' involvement in strategy and the size of the board of directors have a positive influence on a private club's financial performance.

Research limitations/implications

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Further research is indicated to include other board‐related influences such as group composition and the quality of relationships between board members and GMs/COOs to measure a club's financial performance.

Originality/value

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The paper contributes to the limited existing literature on the association between a board of directors and financial performance in the private club industry.

Keywords

Citation

Hyun Kim, S., Min Cha, J., Cichy, R.F., Ran Kim, M. and Tkach, J.L. (2012), "Effects of the size of the board of directors and board involvement in strategy on a private club's financial performance", International Journal of Contemporary Hospitality Management, Vol. 24 No. 1, pp. 7-25. https://doi.org/10.1108/09596111211197773

Publisher

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Emerald Group Publishing Limited

Copyright © 2012, Emerald Group Publishing Limited

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