Corporate boardroom styles which is better casual or button down suit and ties?

Which board room climate is better or which you would like to work in? The board of Hooters Int. are dressed all casual, shirts collars unbuttoned, no suit or ties while the Trump board room everyone in suits and ties, etc. Does the suit and tie gives more seriousness to the boardroom climate? Does the casual style put the Hooters execs at a disadvantage when they have to go have meetings and conferences with people more Trump like? If more Trump like execs visit Hooter like execs do they loosen up or expect the more casual execs to dress up or visa versa?