Senior Leadership Succession and Market Share: An Econometric Case Study on Native American Casinos
Keywords
CEO tenure; Foxwoods Resort Casino; Mohegan Sun; senior leadership succession; Vested Interest Theory
Abstract
Little is known on how turnover and senior leadership attributes affect the long-term performance of a casino resort. The ability to longitudinally measure the turnover effect on market share has been problematic due to most gaming markets exhibiting dynamic conditions with exogenous factors that provide competitive advantages. This study analyzed the effect the turnover rate and successor attributes of the CEO and Chairman of Tribal Council positions have on their casinos' market share within a balanced oligopolistic market of Connecticut. Additionally, this study investigated which attributes amplify the sensitivity of the CEO tenure status to market share growth. The results suggest increased CEO turnover and CEO hires who already had prior CEO casino experience hinder long-term market share. Moreover, the tenures of more experienced CEOs were less susceptible to market share performance. The results can be leveraged for improved hiring practices at the senior levels of Native American casinos.
Publication Date
12-2022
Original Citation
Legg, M., Ampountolas, A., & Hancer, M. (2022). Senior leadership succession and market share: An econometric case study on Native American casinos. Tourism Economics, 28(8), 2176–2196. https://doi.org/10.1177/13548166211035579
Document Type
Paper
Language
English
Source Title
Tourism Economics
Volume
28
Issue
8
Copyright Status
Author retained
College
Rosen College of Hospitality Management
Location
Rosen College of Hospitality Management
STARS Citation
Legg, Mark; Ampountolas, Apostolos; and Hancer, Murat, "Senior Leadership Succession and Market Share: An Econometric Case Study on Native American Casinos" (2022). Faculty Scholarship and Creative Works. 1154.
https://stars.library.ucf.edu/ucfscholar/1154