Purpose: The existing literature has focused heavily on investigating the effect of corporate social performance (CSP) on financial performance (FP) but has not paid sufficient attention to an inverse causation of the relationship. Moreover, while some of the literature argues that FP...

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...

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:...