For decades, the airline and hotel industries have regularly changed prices to keep pace with fluctuating levels of consumer demand. This demand-based approach to pricing is referred to as revenue management. Meanwhile, the sport industry has traditionally underpriced tickets using a cost-based...

We study relationships between stock returns on U.S. and German exchanges for U.S. restaurant companies. Specifically, we examine whether information asymmetry affect how much stock returns in Germany lag stock returns of the same company on U.S. markets. German and U.S. investors differ in...

Revenue management (RM) has been widely applied in capacity-constrained tourism industries to maximise revenue by effectively managing demand and capacity. To gain long-run profit, understanding customers' perceptions of RM practices is important. This study attempts to build a better...

Purpose – The purpose of this paper is to compare traditional methods of estimating the cost‐of‐equity (capital asset pricing model and Fama and French three‐factor model) with a new approach, implied cost‐of‐equity method, to provide lodging analysts, investors, executives and...

Purpose – This study sets out to examine the potential curvilinear relationship between capital intensity and firm value for the US hospitality industry, specifically including publicly traded US hotels and restaurants, during the period 1990‐2008. Design/methodology/approach – This study...

Purpose – The purpose of this paper is to examine evidence indicating the presence of economies of scale among Atlantic City casinos at the property‐level and between multi unit and single unit operators. Design/methodology/approach – The study extended two previous studies by performing a...

Purpose The purpose of this study is to invoke prospect theory to construct an empirical framework to predict idiosyncratic risk, and argue that when a firm performs better than its benchmarks, the firm tends to play safe by avoiding firm-specific risk to maintain its satisfactory performance...

Purpose The purpose of the current study is to investigate the possible existence of a synergistic effect of internationalization and corporate social responsibility (CSR) on a firm’s value performance. Design/methodology/approach To empirically test the argument, this study analyzed data from...

Purpose This study aims to examine previously identified hotel automated valuation models (AVMs) using a more extensive and updated sample of hotel sale transaction data, introduce economic conditions as a new determinant for hotel market value and test the moderating role of economic conditions...