Purpose - This study aims to compare the risk-return characteristics and performance of real estate investment trust (REIT) hotel companies (hotel REITs hereafter) with those of C-corporation hotel companies (hotel C-corps hereafter). Design/methodology/approach - The risk-return characteristics...

Purpose: The purpose of this study is to develop an index for financial constraints, specifically for restaurant firms, and to further validate the developed financial constraint index. Design/methodology/approach: This study used logistic regression with a composite criterion based on the dividend ...

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 proceeds...

Citing the intense competition among products of similar quality, studies to date have largely advocated for the favorable effects of differentiated agglomeration on hotels. However, limited evidence also suggests that undifferentiated hotels may also have an incentive to agglomerate for favorable...

This study investigates whether corporate investment by REIT hotel companies (hotel REITs hereafter) is more constrained than investment by C-corporation hotel companies (hotel C-corps hereafter). The investments of hotel REITs and hotel C-corps are examined by comparing the sensitivities of...

The purpose of this article was to provide an understanding of the ownership effect on firm investment in the hotel industry. Specifically, a linear relationship between institutional ownership and firm investment was investigated, while a nonlinear relationship between managerial ownership and...

Theories on early and late mover advantages predicate that competitive operating advantages can occur with respect to the relative timing of market entry. Suspecting that "early mover" hotels can preempt desirable micro-locations for hotel operations, the current study tests for early mover...

Purpose: This study aims to investigate how consumer forgiveness is formed by examining rumination and distraction by consumers in hotel service failures. Design/methodology/approach: Data were collected using a self-administered questionnaire in the USA. A total of 371 usable responses were...

Unsystematic risk is accepted as an important factor in stock valuation. Despite the importance, little has been done to study the relationship of unsystematic risk to stock values in the hospitality industry. This study attempted to advance the understanding of financial variables that could be...

Restaurant firms need efficient cost management strategies due to highly competitive market conditions and the weak financial structure of the restaurant industry. In this regard, the objectives of this study were to examine the operating expenses of restaurant firms and their impact on...