Upper echelon effect of internationalization on the value of restaurants

초록

The purpose of this research was to investigate how the education of a chief executive officer (CEO) affects financial performance in the case of restaurant internationalization. This study examined the moderating effect of CEO education on the association between restaurant internationalization and firm value. The data were derived from various sources (e.g., COMPUSTAT, EXECUCOMP, LinkedIn, Annual 10K). The two-way fixed effect regression model was the instrument used for data analysis. The study period was 1999–2013 with 30 restaurant companies. The results suggested that the restaurant firms can make a positive impact on their market value when their CEO is educated.

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