Purpose: This study aims to examine the link between corporate social responsibility (CSR) and idiosyncratic risk in the restaurant industry. The study also explores whether brand diversification magnifies the risk reduction effect of CSR in the restaurant industry. Design/methodology/approach:...

Purpose: The purpose of this paper is to introduce and explore blockchain technology and its potential implementation to hospitality and tourism firms’ wide range of business operations and transactions from a technological and functional point of view. This study’s central interest is to...

Purpose This paper has two main purposes. First, this paper aims to examine whether pre-initial public offering (IPO) franchising activity of issuing firms is priced in the financial markets and results in pricing differential between franchising and non-franchising firms at the time of IPO....

Examines the capital structure decisions of restaurant firms. Hypothesizes that these decisions are based upon a financial “pecking‐order” as well as the position of the firm in the financial growth cycle. Using ratios from publicly‐traded restaurant firms in the USA and ordinary least...

Purpose – The purpose of this paper was to investigate the factors influencing financial performance of small hotels, particularly in developing countries like Tanzania. Design/methodology/approach – This investigation used financial ratio analysis on business performance data collected from...

Purpose – The purpose of the paper is to explore the likely main driving forces behind the internationalization process for publicly traded restaurant firms in the USA, and to offer restaurant executives insights for successful expansions into the international arena....

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 – The purpose of this paper is to investigate, empirically, the value relevance of the degree of internationalization in publicly traded restaurant firms in the USA. Design/methodology/approach – Data for the study were obtained from the Compustat Industrial Annual . Pearson...

Purpose – The paper aims to provide empirical evidence that certain financial characteristics are critical for lodging firms to earn a higher profit. Further, it proposes, perhaps more importantly, a robust empirical framework for identifying outperformance in profitability, which has been...

Purpose – The purpose of the current study is to investigate the existence of a negative synergy effect of internationalization and firm size on firm performance for publicly traded US hotels. Design/methodology/approach – The study performs the two-way fixed-effects model to investigate the...