Journal of Hospitality Financial Management: Volume 22, Issue 1
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2014-18-06
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Articles
2014 – A PERFORMANCE REVIEW FOR RESTAURANT FIRMS
(2014-06-18) Sheel, Atul
The Importance of Finance and Accounting Competencies: The Gaming Industry’s Perspective
(2014-01-01) Repetti, Toni; JUNG, SOYEON
The literature acknowledges that finance and accounting competencies are critical for hospitality professional. To date, however, no research on finance and accounting competencies has been examined in the gaming industry nor has any study been conducted in any hospitality subsector after the Great Recession. The current study identifies how important finance and accounting abilities are and examines whether there are significant differences in the perceived importance among different gaming industry professionals. The findings reveal that preparing operating budgets has the highest importance of all skills and that years of experience and department do not generate a significant difference in the level of importance for any skills.
Hotel/Gaming Companies and Corporate Governance
(2014-01-01) Damitio, James W; Kintzele, Philip; Kwiatkowski, Vernon
Corporate governance is a common topic for discussion both among public companies and in graduate schools of business. A well functioning corporate audit committee is an essential part of good corporate governance. This article describes the evolution, duties, and composition of audit committees over the past thirty five years. It also provides a comparison of the basic audit committee policies and procedures of the top restaurant companies with those of lodging companies.
Assessing and Analyzing Internal Control Practices In The Lodging Industry
(2014-01-01) Annaraud, Katerina; Singh, Dipendra
Abstract Internal control matters have received extensive attention in academic literature, but the subject of internal controls in hotels is not well presented. This study targets to determine whether hotels that have been in business longer, are larger in size, and are publicaly owned have a better proxy of internal control. The results of this study indicate that there were no significant differences between a dependent variable internal control and independent variables: the number of rooms, years in business, and the ownership of hotels. More accurate results could be obtained if a larger sample size can be used for this study.
THE EFFECT OF BOARD CLASSIFICATION IN THE RESTAURANT INDUSTRY
(2014-06-18) Moon, Joohno; Sharma, Amit
Previous literature suggests that classified boards of directors could impact firm performance in the context of firm-specific characteristics. In continuation of this discussion, this study investigates the effect of classified boards on firm value in the restaurant industry. Even though classified boards can reduce firm value because of higher monitoring costs, existing literature argues that classified boards are devoted to protecting investors and shareholders against opportunistic bids, which in turn increases their debt financing capabilities. Data from U.S. restaurant firms was analyzed by Compustat and RiskMetrics from 2007–2011 to investigate whether classified boards impact firm value in the restaurant industry. Our results indicate that classified boards of directors lower the value destruction of restaurant firms in terms of cost of debt. That is, cost of debt is lower in classified board firms, thereby reducing their negative impact on firm value. The implications and limitation of this research are also discussed.