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The Journal of Hospitality Financial Management最新文献

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Financial Impact of LEED and Energy Star Certifications on Hotel Revenues LEED和能源之星认证对酒店收入的财务影响
The Journal of Hospitality Financial Management Pub Date : 2016-07-02 DOI: 10.1080/10913211.2016.1236567
Spenser J. Robinson, Arjun J. Singh, P. Das
{"title":"Financial Impact of LEED and Energy Star Certifications on Hotel Revenues","authors":"Spenser J. Robinson, Arjun J. Singh, P. Das","doi":"10.1080/10913211.2016.1236567","DOIUrl":"https://doi.org/10.1080/10913211.2016.1236567","url":null,"abstract":"This study examines the topline performance of a cross-section of hotels in the United States from 2009 to 2013 to test whether eco-labeled (LEED or Energy Star, in particular) properties generated revenue performance premiums over noncertified hotels. In other words, does it pay to acquire these labels? Regressions included regional, class, chain scale, size, and location controls. Custom comparable clusters were also separately tested. Results show that LEED-labeled hotels experience higher average daily rate but lower occupancy rates, resulting in a statistically insignificant difference in RevPAR. Energy Star-labeled buildings consistently showed higher occupancy.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127956398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 17
International Association of Hospitality Financial Management Education (iAHFME) Academic Member 2015 Total Annual Earnings 国际酒店财务管理教育协会(iAHFME)学术会员2015年度总收入
The Journal of Hospitality Financial Management Pub Date : 2016-07-02 DOI: 10.1080/10913211.2016.1236577
R. Schmidgall
{"title":"International Association of Hospitality Financial Management Education (iAHFME) Academic Member 2015 Total Annual Earnings","authors":"R. Schmidgall","doi":"10.1080/10913211.2016.1236577","DOIUrl":"https://doi.org/10.1080/10913211.2016.1236577","url":null,"abstract":"This study uses survey research to determine the 2015 annual earnings of hospitality financial management educators. Of the International Association of Hospitality Financial Management Education (iAHFME) members affiliated with educational institutions who were invited to participate, 58% responded. Survey results show that for 2015, annual base salaries of iAHFME members ranged from $75,000 to $264,000. The lowest-paid member was an assistant professor and the highest-paid member was a full professor. Many respondents supplemented their base salaries by teaching during summer school or consulting or both. The total annual earnings of iAHFME members ranged from $81,000 to $264,000. Survey results also show that hospitality financial management educators appear to be more highly compensated than the average college professor than their counterparts in the lodging industry.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131397598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Stock Market Valuation of Hotel Firms' Sustainable Initiatives 酒店企业可持续发展举措的股票市场评估
The Journal of Hospitality Financial Management Pub Date : 2016-07-02 DOI: 10.1080/10913211.2016.1236568
T. Dogru, E. Sirakaya-Turk
{"title":"Stock Market Valuation of Hotel Firms' Sustainable Initiatives","authors":"T. Dogru, E. Sirakaya-Turk","doi":"10.1080/10913211.2016.1236568","DOIUrl":"https://doi.org/10.1080/10913211.2016.1236568","url":null,"abstract":"This study aimed to examine stock price reactions to announcements of Leadership in Energy and Environmental Design (LEED)-certified hotel openings. Using an event study method, the authors analyze news related to 15 hotel openings between the periods of 2009 and 2013. The results show that abnormal returns on stocks are significantly negative after the announcements of LEED-certified hotel openings, suggesting that stock market investors perceive sustainable investments to be value-decreasing projects in the short-term. Practical and theoretical implications are discussed within the framework of the microeconomic theory of pollution abatement.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"155 8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125908428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
2016 - A Year in Review for Restaurant Firms 2016 -餐饮公司回顾的一年
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1174034
Atul Sheel
{"title":"2016 - A Year in Review for Restaurant Firms","authors":"Atul Sheel","doi":"10.1080/10913211.2016.1174034","DOIUrl":"https://doi.org/10.1080/10913211.2016.1174034","url":null,"abstract":"","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"125 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114084609","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
2014: Club Financial Performance 2014:俱乐部财务业绩
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1166030
R. Schmidgall, A. DeFranco
{"title":"2014: Club Financial Performance","authors":"R. Schmidgall, A. DeFranco","doi":"10.1080/10913211.2016.1166030","DOIUrl":"https://doi.org/10.1080/10913211.2016.1166030","url":null,"abstract":"Financial results play a very important role in the club industry. Percentages and numbers are the representative indicators of the financial performance of any company. In clubs, these numbers denote to management and members the financial strength and viability of their clubs. This study surveyed clubs regarding their financial performance in 2014, reporting averages for demographic data and medians for financial data. The results of the top performers (fifth or top quintile) and the bottom performers (first or lowest quintile) were compared. In 2014, the median profit margin was at 1.65% with the top quintile reporting at 17.43% and the lower quintile at a loss of -10.08%.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123277806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Corporate Governance, Ownership Structure, and Credit Ratings of Hospitality Firms 酒店企业的公司治理、所有权结构和信用评级
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1166022
M. Altın, M. Kizildag, Ozgur Ozdemir
{"title":"Corporate Governance, Ownership Structure, and Credit Ratings of Hospitality Firms","authors":"M. Altın, M. Kizildag, Ozgur Ozdemir","doi":"10.1080/10913211.2016.1166022","DOIUrl":"https://doi.org/10.1080/10913211.2016.1166022","url":null,"abstract":"This study examines interrelated connections of corporate governance, ownership structure, and credit ratings. From the agency relationship perspective, the study analyzes this multiple association by accounting for firm-specific and ownership characteristics for the period between 1990 and 2007. In this context, logistic functions are used in regression models to predict the probable outcomes of these multiple relationships. Primary findings of this study revealed that hospitality firms with higher anti-takeover provisions (less shareholder power) enjoy higher credit ratings. Findings also revealed high coefficients of Gompers, Ishii, and Metrick (2003) index (the GIM index), suggesting that hospitality firms have strong governance provisions, reduced agency conflicts, and higher chances of getting better credit ratings.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122726101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 18
Credit Availability and Capital Structures: Does Size Matter? An Analysis of the U.S. Lodging Industry 信贷可得性和资本结构:规模重要吗?美国住宿业分析
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1166026
Dipendra Singh
{"title":"Credit Availability and Capital Structures: Does Size Matter? An Analysis of the U.S. Lodging Industry","authors":"Dipendra Singh","doi":"10.1080/10913211.2016.1166026","DOIUrl":"https://doi.org/10.1080/10913211.2016.1166026","url":null,"abstract":"Capital structure composition decisions are considered as very crucial for the overall success of firms. Lodging industry warrants an even greater emphasis on these decisions for the nature of this industry. This study empirically investigates the effect of credit availability on the leverage of large and small lodging firms in the United States using multivariate analysis of variance (MANOVA). This study uses the Case-Schiller home price index to identify the three time points of differing credit availability to businesses in the United States. Leverage, net leverage, and short-to-long-term debt ratios of large and small U.S. lodging firms were analyzed at these differing credit availability time points to assess any significant differences. Significant effects of credit availability were found on the leverage and net leverage of both large and small lodging firms, but no significant effect was found on the short-to-long-term debt ratio of U.S. lodging firms. Interestingly, the leverage levels were found to be highest at the average availability of credit than when compared to the high and low availability of credit.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125499246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
International Association of Hospitality Financial Management Education (iAHFME) Academic Member 2014 Total Annual Earnings 国际酒店财务管理教育协会(iAHFME)学术会员
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1166032
R. Schmidgall
{"title":"International Association of Hospitality Financial Management Education (iAHFME) Academic Member 2014 Total Annual Earnings","authors":"R. Schmidgall","doi":"10.1080/10913211.2016.1166032","DOIUrl":"https://doi.org/10.1080/10913211.2016.1166032","url":null,"abstract":"This study uses survey research to determine the 2014 annual earnings of hospitality financial management educators. Forty-three percent of iAHFME members affiliated with educational institutions responded. Survey results show that for 2014, annual base salaries of iAHFME members ranged from $70,000 to $258,000. The lowest-paid member was an assistant professor and the highest-paid member was a full professor. Many respondents supplemented their base salaries by teaching during summer school or consulting or both. The total annual earnings of iAHFME members ranged from $71,000 to $270,000. Survey results also show that hospitality financial management educators appear to be more highly compensated than the average college professor than their counterparts in the lodging industry.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128820981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Abstracts of Presentations at the 2015 Annual iAHFME Research Symposium 2015年度iAHFME研究研讨会报告摘要
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1174029
Atul Sheel
{"title":"Abstracts of Presentations at the 2015 Annual iAHFME Research Symposium","authors":"Atul Sheel","doi":"10.1080/10913211.2016.1174029","DOIUrl":"https://doi.org/10.1080/10913211.2016.1174029","url":null,"abstract":"","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115477390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Risk-Sharing as a Long-Term Motivation to Franchise: Role of Franchising Experience 风险分担作为特许经营的长期动机:特许经营经验的作用
The Journal of Hospitality Financial Management Pub Date : 2016-01-02 DOI: 10.1080/10913211.2016.1166025
Kyung-A Sun, Seoki Lee
{"title":"Risk-Sharing as a Long-Term Motivation to Franchise: Role of Franchising Experience","authors":"Kyung-A Sun, Seoki Lee","doi":"10.1080/10913211.2016.1166025","DOIUrl":"https://doi.org/10.1080/10913211.2016.1166025","url":null,"abstract":"This study aimed to examine a long-term motivation for franchising by considering the influence of experience franchisors gain through conducting the franchising strategy. The study mainly investigates the moderating effect of franchising experience on the relationship between three main motivations for franchising (derived from agency theory, resource scarcity theory, and risk-sharing theory) and firms' degree of franchising in the restaurant context. Dynamic panel data model was employed and the findings suggest that not only do restaurant companies' franchising experience positively affect firms' degree of franchising, but also that those experiences positively moderate the relationship between risk-sharing motivation and the degree of franchising. The findings lead to theoretical and practical implications and suggestions for future research.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127950529","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
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