Do CEO Gender and Educational Background affect the financial performance of Hotels in Nigeria?

Abstract

In recent times, firms or businesses in the Hotel and Tourism industry across the globe have suffered setback financially in terms of patronage and turnover. This is out rightly attributed to the emergence of the invincible enemy – the COVID-19 pandemic.  The upper echelon of organization, thus have a role to play in reviving this sector. Against this backdrop, this study examined the impact CEO gender and educational background on the financial performance of hotels in Nigeria. This study sampled three listed hotel in the Nigeria Stock Exchange from 2017 to 2020. Ordinary least squares regression was employed to empirically ascertain the relationship between variables of the study. The study found that CEO gender has no significant impact on the financial performance of Hotels in Nigeria.  Secondly, the study found that CEO educational background has positive and significant impact on the financial performance of Hotels in Nigeria. The study recommends that CEO with hotel and tourism educational background should be appointed in hotels in Nigeria to improve the financial performance