Purpose: This study aims to examine how geographic diversification affects firms’ risk by introducing the franchising strategy as a moderator. Design/methodology/approach: The panel regression analysis was conducted with a sample of US restaurant firms. Specifically, a two-way random (or...

Purpose: Based on the agency theory and risk management perspective, this study aims to examine the relationship between CEOs’ pay schemes and corporate social responsibility (CSR) activities in the restaurant industry. Specifically, the authors propose that CEOs with a higher proportion of...

Purpose: The purpose of this study is twofold: to investigate the relationship between restaurant firms’ internationalization and systematic risk, and to further examine the relationship between internationalization and systematic risk based on the type of restaurant firm (i.e....

Purpose: The purpose of this study is to examine how the lodging market and the state economy affected by Hurricane Sandy have recovered from the damages sustained. Specifically, this study examines and predicts the influence of revenue management key performance indicators (KPIs) on recovery...

Purpose: Considering the increasing significance of corporate social responsibility (CSR) in the corporate world and the mixed findings of the financial implication of CSR investment in the financial economics literature, the purpose of this study is to examine the relationship between...

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...