An Overview Of Risk Management Practices In Hospitality Organizations In Germany,
2022
SRH Berlin University of Applied Sciences
An Overview Of Risk Management Practices In Hospitality Organizations In Germany, Farzaneh Soleimani Zoghi, Hannes Antonschmidt
Journal of Hospitality Financial Management
This paper aims to identify the key risks which are considered necessary by hospitality organizations in Germany. It also seeks to evaluate the actual process of risk management practiced by hoteliers and to assess managers’ opinions on the importance of a risk management approach in hospitality organizations. Primary data has been collected by semi-structured qualitative interviews with top managers and professionals in hospitality organizations in Germany. The findings show that the implementation of risk management practices in hospitality organizations in Germany is low and that significant differences exist between the theoretical risk management models and their practical execution in hotel …
Hospitality Sector Revenues And Employment In The Eagle Ford Shale, 2010-2019,
2022
University of Texas at San Antonio
Hospitality Sector Revenues And Employment In The Eagle Ford Shale, 2010-2019, Javier Oyakawa
Journal of Hospitality Financial Management
By taking advantage of proprietary data from input- output tables’ time series and by using econometric methods, this study estimated job and output multipliers affecting the hospitality sector in Eagle Ford Shale (EFS) between 2010 and 2019. In 2019, in the EFS area, the hospitality sector, including the hotel and food subsectors, received 32.5% of its increased revenues from oil and gas activities when comparing the years 2019 and 2010. For each new job in the energy industry, the hospitality sector received between $10,185 and $12,744. In the same year, hotel subsector revenues due to oil and gas activities explained …
Financial Impact Of Nutrition Labeling For Restaurants,
2022
Michigan State University
Financial Impact Of Nutrition Labeling For Restaurants, Mark S. Johnson
Journal of Hospitality Financial Management
Over the period 2006 to 2018 many attempts to institute food labeling in restaurants (FLR) have occurred. We examine the impact of federal FLR regulations on equity in the restaurant industry. We find no support for the idea that passage of federal FLR legislation directly altered firm value. However, Food and Drug Administration (FDA) rulemaking has had a positive effect on restaurants. The Federal rules are preemptory to state and local rules providing the industry with consistent, straightforward, rules across all jurisdictions. The preemptory aspect may reduce overall industry costs of regulation. We suggest that rule-making by the regulatory agency …
The Impacts Of Covid-19 On Capital Structure Determinants Of Hotel Real Estate Investment Trusts,
2022
University of Central Florida
The Impacts Of Covid-19 On Capital Structure Determinants Of Hotel Real Estate Investment Trusts, Marcos Medeiros, Nan Hua, Youcheng Wang
Journal of Hospitality Financial Management
Real Estate Investment Trusts (REITs) are responsible for more than seventy-five percent of the hotel ownership structure in the USA. The effects of COVID-19 restrictions on hotel REITs were devastating due to the unpredictability of revenues and cash flows, directly impacting managerial decisions on how to adapt REITs' capital structure quickly. This paper used quarterly hotel REIT financial data of the 18 most representative U.S. H-REITs from January 2015 through December 2020 to understand the moderating effects of COVID-19 on hotel REITs' capital structure determinants. Analyzing a panel data of 472 observations, this study found robust empirical evidence that confirms …
The Effects Of Prior Trading Performance Have On Risk-Taking Of Subsequent Trading – The House Money Effect,
2022
Singapore Management University
The Effects Of Prior Trading Performance Have On Risk-Taking Of Subsequent Trading – The House Money Effect, Lenz Tan Koon Bin
Dissertations and Theses Collection (Open Access)
This study tests for house money effect on 2,030 non-professional FX investors trading through an Australian Financial Service provider. The results indicate that, in general, investors display a positive relationship between prior gains and the change in subsequent weekly risk-taking - the house money effect. The results also suggest that astute investors display a stronger house money effect than mediocre investors following prior gains. In comparison, mediocre investors display a stronger disposition effect following prior losses than astute investors. The study further reveals that investors who initially demonstrated the house money effect became more prone to the disposition effect during …
Impact Of Geographical Diversification And Limited Attention On Private Equity Fund Returns,
2022
Singapore Management University
Impact Of Geographical Diversification And Limited Attention On Private Equity Fund Returns, Victor Hock Keong Ong
Dissertations and Theses Collection (Open Access)
This study analyzes the effect of geographical diversification on global private equity (PE) fund returns. I find that there is a negative correlation between geographical diversification and PE fund returns. To establish the causality between geographical diversification and PE fund returns, I employ an instrument variable analysis where the instrument used is the stock market capitalization value of the host country where the PE fund is based. My results apply to Net IRR, multiple and DPI as dependent variables used to proxy for PE fund returns in the main regression model. A one standard deviation increase in geographical diversification results …
Empirical Studies Of Esg Scores With Corporate Credit Spreads (Insights From Popularity-Based Pricing),
2022
Sacred Heart University
Empirical Studies Of Esg Scores With Corporate Credit Spreads (Insights From Popularity-Based Pricing), Eugene Okyere-Yeboah
Doctoral Dissertations (DBA)
This study examines various factors or characteristics (risk and non-risk) that determine a firm’s credit risk premium, as measured by its credit default swap (CDS) spread, with a particular focus on the impact of environment, social, and governance (ESG) scores. The framework employed is a general equilibrium asset pricing model which integrates classical and behavioral finance elements, known as popularity-based asset pricing. It treats all attributes or characteristics of an asset as ”factors” to which investors assign a degree of popularity, which changes over time. Non-risk characteristics are classified as ”tastes” or ”disagreements”, Fama French (2007). Firms’ degree of adherence …
10 Good Reasons Why Llcs Should Not Elect To Be S Corporations,
2022
Sacred Heart University
10 Good Reasons Why Llcs Should Not Elect To Be S Corporations, Paul N. Iannone, Danny A. Pannese
WCBT Faculty Publications
Since 2004, the IRS has administratively made S elections for limited liability companies (LLCs) very easy. An LLC that is otherwise eligible to be an S corporation that is classified as a partnership or a disregarded entity can simultaneously elect to be classified as both a corporation and an S corporation by timely filing Form 2553, Election by a Small Business Corporation, without the need to also file Form 8832, Entity Classification Election. The Treasury regulations treat the "one-stop-shop" rule as a "deemed election" under the entity classification regulations.
Doing Well By Doing Good: Analyzing The Dynamics And Effectiveness Of Corporate Engagement,
2022
SIT Study Abroad
Doing Well By Doing Good: Analyzing The Dynamics And Effectiveness Of Corporate Engagement, Gillian Meyers
Independent Study Project (ISP) Collection
Sustainable investing and corporate climate action have grown exponentially in the last decade, generating a simultaneous need for customers, investors, and policymakers to determine when companies are genuinely achieving positive impact related to environmental, social, and corporate governance (ESG) factors. As a result, investors are increasingly employing ESG engagement, which typically takes the form of direct communication with holdings to determine and positively shape their impacts on their stakeholders. In this paper, I explore the reasoning for conducting ESG engagement and refute arguments against it. I fill an existing research gap by analyzing the benefits of ESG engagement to both …
Cfo Gaps: Determinants And Impact On The Corporate Information Environment,
2022
Singapore Management University
Cfo Gaps: Determinants And Impact On The Corporate Information Environment, Xia Chen, Na Li, An-Ping Lin
Research Collection School Of Accountancy
A CFO gap arises when the CFO position is left vacant for a period between the departure of the old CFO and the appointment of a new CFO. We find that CFO gaps are fairly common; over the sample period 2004–2016, approximately one-third of CFO turnovers are associated with a CFO gap, lasting on average two quarters and two months. CFO gaps are more likely for firms that face more labor market search frictions and with financial reporting and performance issues, and are less likely for firms with succession plans and with greater growth opportunities. While CFO gaps are not …
Working Capital Management Of Manufacturing Companies In Bangladesh: What Factors Make Significant Impact?,
2022
University of Liberal Arts Bangladesh
Working Capital Management Of Manufacturing Companies In Bangladesh: What Factors Make Significant Impact?, Sumaiya Zaman
Journal of Global Business Insights
The paper aims to determine factors that make a significant impact on working capital management of a manufacturing company in Bangladesh. Of 221 service and manufacturing firms listed on the Dhaka Stock Exchange, 109 companies are chosen based on data availability for the five-year period 2014-2018. The study examines literature on working capital management and tests theory on manufacturing companies listed on the Dhaka Stock Exchange. Cash conversion cycle is used as a measurement of working capital efficiency. Financial ratios representing six aspects of company's financial performance are taken as explanatory variables. They represent company asset management, debt structure, growth, …
Strategic Disclosure And Debt Covenant Violation,
2022
Columbia University
Strategic Disclosure And Debt Covenant Violation, Thomas Bourveau, Derrald Stice, Rencheng Wang
Research Collection School Of Accountancy
This study examines how managers change their forecasting behavior as a debt covenant violation approaches. Using a sample of firms that disclose a debt covenant violation (DCV) in their financial statements, we find that management forecasts are more optimistic in the period leading up to a DCV, and this result is not driven by managers’ unintentional forecast bias. Additionally, we find that managers who are more optimistic in their forecasts also take on more risk and increase dividend payouts before violations, consistent with managers strategically using earnings forecasts to justify their activities favorable to shareholders but likely to be curtailed …
The Effect Of Innovation Performance On The Pricing In Private Placement,
2022
Western University
The Effect Of Innovation Performance On The Pricing In Private Placement, Tong Liu
Undergraduate Student Research Internships Conference
We propose a research project examining the effect of firms’ innovation performance in the pricing of private equity placements, namely private investments in public equity (PIPEs). We investigate whether firms’ previous innovation outputs have been considered in the PIPE issuance. Innovative activities are important for firms to gain strategic advantage against their competitors. Firms with innovative opportunities frequently lack capital. However, financing innovation tends to be more difficult due to the uncertainty and information asymmetry (Acharya and Xu, 2017). Compared to public firms, private firms have the limitations to access the broader investor pool and higher cost of capital. Unlike …
Corporate Social Responsibility Influence On Organizational Performance: Moderating Effect Of Corporate Reputation Performance: Moderating Effect Of Corporate Reputation,
2022
Dayalbagh Educational Institute, Agra, 1/7152, Shivaji Park, Shahdara, Delhi, India
Corporate Social Responsibility Influence On Organizational Performance: Moderating Effect Of Corporate Reputation Performance: Moderating Effect Of Corporate Reputation, Eti Jain, Anuja Shukla, Shiv K. Sharma, Arvind Kumar
Management Dynamics
No abstract provided.
Are All Risks Created Equal? Rethinking The Distinction Between Legal And Business Risk In Corporate Law,
2022
Bar Ilan University Faculty of Law
Are All Risks Created Equal? Rethinking The Distinction Between Legal And Business Risk In Corporate Law, Adi Libson, Gideon Parchomovsky
All Faculty Scholarship
Should corporate legal risk be treated similarly to corporate business risks? Currently, the law draws a clear-cut distinction between the two sources of risk, permitting the latter type of risk and banning the former. As a result, fiduciaries are shielded from personal liability in the case of business risk and are entirely exposed to civil and criminal liability that arises from legal risk-taking. As corporate law theorists have underscored, the differential treatment of business and legal risk is highly problematic from the perspective of firms and shareholders. To begin with, legal risk cannot be completely averted or eliminated. More importantly, …
Essays On Insider Trading, Innovation, And Political Economy,
2022
Mississippi State University
Essays On Insider Trading, Innovation, And Political Economy, Jiawei Chen
Theses and Dissertations
I study how insider trading interacts with the political economy, regulators, and other corporate governance mechanisms. In the first section, I examine the impact of insider trading restriction enforcement on firm innovation. U. S. Securities and Exchange Commission enforcement actions are intended to protect investors and limit expropriation by firm insiders, but enforcement could impact insiders’ incentives to contribute to value enhancing activities. Therefore, I explore how corporate innovation and performance respond to insider trading restrictions imposed by firms and regulators. Using manually collected data on SEC indictments against corporate insiders, I document more innovative activity following external insider trading …
How To Create Cash Flows That Give A Priori Irrs?,
2022
Nanyang Technological University
How To Create Cash Flows That Give A Priori Irrs?, Charlie Charoenwong, Xinxin Li, Chee K. Ng
Southwestern Business Administration Journal
We illustrate algebraically the way to numerically derive the cash flows of an investment project yielding a set of desired IRRs. This is significant given the dearth of practice questions with the appropriate cash flow numbers, and their corresponding sign, in widely adopted Finance textbooks that will allow students to find multiple IRRs as learning exercises. The note serves to fill that void by allowing the readers to change the IRR inputs in an Excel spreadsheet and have the corresponding cash flows output ready for an assignment. Instructors can use the Excel codes to create different cash flows that yield …
Sustainability: Jobs And Skills For The Accountancy Profession,
2022
Singapore Management University
Sustainability: Jobs And Skills For The Accountancy Profession, Jiwei Wang, Holly I. Yang, Liandong Zhang
Research Collection School Of Accountancy
Sustainability is a megatrend that is changing the way we think about business and offering new opportunities and jobs for the accountancy sector. At the 26th Conference of the Parties (COP26), also known as the United Nations Climate Change Conference, the international business community was galvanised into action. Singapore, too, has intensified its sustainability plans with the Singapore Green Plan 2030
Bank Ownership And Decline In Loan Growth Due To The Pandemic,
2022
Universitas Indonesia, Indonesia
Bank Ownership And Decline In Loan Growth Due To The Pandemic, Ruthana Bitia, Zuliani Dalimunthe
The Indonesian Capital Market Review
This study aims to analyze the effect of bank ownership structure on loan growth before and during the pandemic. Specifically, we developed four models to capture different loan types provided in the Indonesian banking system; working capital, investment, consumer, and total loan growth. This study used 150 observations of commercial banks for 2019 (before the pandemic) and 2020 (during the pandemic). We conducted the regression method to test hypotheses. The main finding of this study was that foreign banks’ consumer credit growth significantly lower than domestic banks. Similar findings occurred for other types of loans, and this conclusion has controlled …
“Fiscal Trap”, The Case Of Greece,
2022
College of Mount Saint Vincent
“Fiscal Trap”, The Case Of Greece, Titos Ritsatos
Southern University College of Business E-Journal
Present research aims at the introduction of the term “Fiscal Trap” in economic literature, as a comprehensive definition of the economic situation in which any available combination of fiscal-only policy measures (tax increases and austerity measures), would fail to fulfill fiscal targets during periods of recession. Using recent experience from the case of Greece, an ex-post evaluation of adopted policy effectiveness is pursued. Fiscal austerity and increased taxation enforced in Greece during the years 2009-2012, resulted in decreased tax revenues, lower GDP and increased debt-to-GDP ratio. In order to slip away from the vicious cycle generated by austerity and tax …
