Purpose: This study aims to identify why restaurant firms go public (IPO) despite high financing costs and which factors make firms stay public for the long term after an IPO. Also, this study aimed to link and compare restaurant firms’ pre- and post-IPO accounting information and how IPO...

Purpose The purpose of this study was to extend the understanding of restaurant firms’ overall debt and equity financing practices by considering what drives equity financing. More importantly, this study attempted to identify whether an optimal financial leverage point exists in the...

This study examines capital structure of hospitality firms from a behavioral perspective based on the hubris theory that emphasizes the effect of managerial overconfidence on corporate decisions. Specifically, we investigate the relationship between manager overconfidence and financing...