The main purpose of the current study, therefore, is to examine a moderating effect of capital intensity on the relationship between leverage and financial distress for publicly traded U.S. restaurant firms during the period 1990 to 2008. Two specific research questions are: 1) Do a firm’s...

Revenue management has been applied to the restaurant industry, but restaurant operators have been disinclined to apply various types of RM approaches, due to apprehension for customer’s possible expressions of dissatisfaction. To relieve this reluctance, restaurant operators may need to...

Very few academic studies have systematically attempted to evaluate equity valuation models in the lodging industry. Most academic papers in the mainstream finance and accounting literature either exclude hospitality firms or do not examine it in detail. For example, it is very common to find...

Lodging stock undervaluation has been a longstanding issue in the hotel industry. Many market experts and industry educators and managers have participated in, or at least been exposed to, discussions and/or arguments over this issue. In summary, the proponent of lodging stock undervaluation...

Very few academic studies have systematically attempted to evaluate equity valuation models in the lodging industry. Most academic papers in the mainstream finance and accounting literature either exclude hospitality firms or do not examine them in detail. For example, it is very common to find...

Even though a general capital structure literature suggests an existence of an optimal leverage point, it is extremely difficult to know the exact optimal leverage point for an entire economy, an industry, or a firm if possible at all. Several studies in general finance and accounting literature...

The purpose of this study is to evaluate six different ICE estimates and two traditional asset pricing model estimates with regard to their predictive ability for the lodging industry. Six implied cost of equity capital estimates use six different versions of equity valuation models. They are:...

Customer satisfaction has been considered one of the most prominent factors in the measurement of marketing strategies and performances. On the other hand, profitability and value of firm are important indicators of companies’ financial performance. Considering the unique differences from...