Despite the frequent recognition by the literature on oversupply in the US lodging industry and its adverse effect on industry performance, the academia is yet to provide a clear explanation on when the oversupply has actually taken place, and if so, by how much. Observing that the difficulty in...

In this article we investigate the behavior in asset sales of publicly traded U.S. hotel firms in relation to earnings management. Asset disposition has been regarded as one of the most efficient methods for controlling accounting income. Given a heavy weight of fixed assets in the asset...

Financial literature of cash or liquidity management has recently focused on the role of financial constraints on firms’ liquidity decision. Even though the accessibility to capital market is considered as one of major topics in hotel firms’ financial management considering high usage of...

Several studies on word-of-mouth have implied that consumers' desire to make good impressions during social interactions influence their WOM activities. However, little has been done to empirically examine the subject (i.e., WOM) from the perspective of impression management theory. Hence, this...

Firm investment and the ownership structure are fundamentally important in corporate management in which both the firm investment and the ownership structure is an potential indicator of firm's financial health, strategy, future direction, and even interdependent relationship within themselves....

This study investigated the effect of diversification on firm performance in the restaurant industry. In prior studies, the theoretical rationales and empirical studies were contradictory. The reasons are thought to be derived from some neglected issues such as the industry-specific...

This dissertation consists of three studies of the applications of financial hedging in the hospitality and tourism industry. In the first study presented in chapter 2, the author proposes a novel approach to mitigate the cash flow volatility arising from snowfall fluctuation in ski resorts:...

Despite the relatively short history of research efforts on exchange rate exposure, past studies have shown considerable attention to trading firms and industries. Meanwhile, international tourism demand is often explained as a function of the exchange rate between the home and visiting...