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We examine the post-IPO excess stock returns of hospitality firms from 1996 to 2012 and find underperformance relative to the market on average. However, there are large differences in returns and some firms significantly outperform. We demonstrate that a substantial portion of this variation...
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hotels taking into account the specific characteristics of each establishment. The results have shown that even after … differential remained between large and small establishments. To achieve these aims four hypotheses on productivity, labour quality … quality and internal labour market variables. It is also possible that large establishments pay higher wages simply because …
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product of labor, with larger markdowns at more desirable programs. Therefore, a limited number of positions at high quality … market. I find that financial incentives increase the quality, but not the number of rural residents. Quantity regulations … increase the number of rural trainees, but the impact on resident quality depends on the design of the intervention …
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