Eintrag weiter verarbeiten
Do investors reward restaurant firms that go abroad?
Gespeichert in:
| Zeitschriftentitel: | International Journal of Contemporary Hospitality Management |
|---|---|
| Personen und Körperschaften: | , |
| In: | International Journal of Contemporary Hospitality Management, 23, 2011, 2, S. 174-188 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
Emerald
|
| Schlagwörter: |
| author_facet |
Hua, Nan Upneja, Arun Hua, Nan Upneja, Arun |
|---|---|
| author |
Hua, Nan Upneja, Arun |
| spellingShingle |
Hua, Nan Upneja, Arun International Journal of Contemporary Hospitality Management Do investors reward restaurant firms that go abroad? Tourism, Leisure and Hospitality Management |
| author_sort |
hua, nan |
| spelling |
Hua, Nan Upneja, Arun 0959-6119 Emerald Tourism, Leisure and Hospitality Management http://dx.doi.org/10.1108/09596111111119310 <jats:sec><jats:title content-type="abstract-heading">Purpose</jats:title><jats:p>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.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Design/methodology/approach</jats:title><jats:p>Data for the study were obtained from the Compustat <jats:italic>Industrial Annual</jats:italic>. Pearson correlation analysis, regression analysis, and Vuong's <jats:italic>Z</jats:italic>‐test were employed to analyze the data.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Findings</jats:title><jats:p>The paper has two principal findings: the degree of internationalization is positively and significantly related to market capitalization; and the relation is strong enough to cause an 18.3 percent increase in the explanatory power, in the presence of control variables.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Research limitations/implications</jats:title><jats:p>The method of expansion might have some impact on market capitalization and this is not explicitly controlled for in the study due to data and cost constraints. Moreover, there are likely other variables affecting firms' market capitalization, but due to data constraints, they are also not included in the model.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Practical implications</jats:title><jats:p>The results indicate firms, which decide to diversify abroad, see their market capitalization changes positively with the degree of internationalization.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Originality/value</jats:title><jats:p>There are many studies that investigate the behavior of firms that diversify abroad; however, this is the first study to the authors' knowledge that examines the impact of the degree of internationalization on the stock market capitalization in the hospitality industry.</jats:p></jats:sec> Do investors reward restaurant firms that go abroad? International Journal of Contemporary Hospitality Management |
| doi_str_mv |
10.1108/09596111111119310 |
| facet_avail |
Online |
| finc_class_facet |
Allgemeines |
| format |
ElectronicArticle |
| fullrecord |
blob:ai-49-aHR0cDovL2R4LmRvaS5vcmcvMTAuMTEwOC8wOTU5NjExMTExMTExOTMxMA |
| id |
ai-49-aHR0cDovL2R4LmRvaS5vcmcvMTAuMTEwOC8wOTU5NjExMTExMTExOTMxMA |
| institution |
DE-Pl11 DE-Rs1 DE-105 DE-14 DE-Ch1 DE-L229 DE-D275 DE-Bn3 DE-Brt1 DE-D161 DE-Gla1 DE-Zi4 DE-15 |
| imprint |
Emerald, 2011 |
| imprint_str_mv |
Emerald, 2011 |
| issn |
0959-6119 |
| issn_str_mv |
0959-6119 |
| language |
English |
| mega_collection |
Emerald (CrossRef) |
| match_str |
hua2011doinvestorsrewardrestaurantfirmsthatgoabroad |
| publishDateSort |
2011 |
| publisher |
Emerald |
| recordtype |
ai |
| record_format |
ai |
| series |
International Journal of Contemporary Hospitality Management |
| source_id |
49 |
| title |
Do investors reward restaurant firms that go abroad? |
| title_unstemmed |
Do investors reward restaurant firms that go abroad? |
| title_full |
Do investors reward restaurant firms that go abroad? |
| title_fullStr |
Do investors reward restaurant firms that go abroad? |
| title_full_unstemmed |
Do investors reward restaurant firms that go abroad? |
| title_short |
Do investors reward restaurant firms that go abroad? |
| title_sort |
do investors reward restaurant firms that go abroad? |
| topic |
Tourism, Leisure and Hospitality Management |
| url |
http://dx.doi.org/10.1108/09596111111119310 |
| publishDate |
2011 |
| physical |
174-188 |
| description |
<jats:sec><jats:title content-type="abstract-heading">Purpose</jats:title><jats:p>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.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Design/methodology/approach</jats:title><jats:p>Data for the study were obtained from the Compustat <jats:italic>Industrial Annual</jats:italic>. Pearson correlation analysis, regression analysis, and Vuong's <jats:italic>Z</jats:italic>‐test were employed to analyze the data.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Findings</jats:title><jats:p>The paper has two principal findings: the degree of internationalization is positively and significantly related to market capitalization; and the relation is strong enough to cause an 18.3 percent increase in the explanatory power, in the presence of control variables.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Research limitations/implications</jats:title><jats:p>The method of expansion might have some impact on market capitalization and this is not explicitly controlled for in the study due to data and cost constraints. Moreover, there are likely other variables affecting firms' market capitalization, but due to data constraints, they are also not included in the model.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Practical implications</jats:title><jats:p>The results indicate firms, which decide to diversify abroad, see their market capitalization changes positively with the degree of internationalization.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Originality/value</jats:title><jats:p>There are many studies that investigate the behavior of firms that diversify abroad; however, this is the first study to the authors' knowledge that examines the impact of the degree of internationalization on the stock market capitalization in the hospitality industry.</jats:p></jats:sec> |
| container_issue |
2 |
| container_start_page |
174 |
| container_title |
International Journal of Contemporary Hospitality Management |
| container_volume |
23 |
| format_de105 |
Article, E-Article |
| format_de14 |
Article, E-Article |
| format_de15 |
Article, E-Article |
| format_de520 |
Article, E-Article |
| format_de540 |
Article, E-Article |
| format_dech1 |
Article, E-Article |
| format_ded117 |
Article, E-Article |
| format_degla1 |
E-Article |
| format_del152 |
Buch |
| format_del189 |
Article, E-Article |
| format_dezi4 |
Article |
| format_dezwi2 |
Article, E-Article |
| format_finc |
Article, E-Article |
| format_nrw |
Article, E-Article |
| _version_ |
1792326731949932559 |
| geogr_code |
not assigned |
| last_indexed |
2024-03-01T12:26:10.254Z |
| geogr_code_person |
not assigned |
| openURL |
url_ver=Z39.88-2004&ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fvufind.svn.sourceforge.net%3Agenerator&rft.title=Do+investors+reward+restaurant+firms+that+go+abroad%3F&rft.date=2011-03-08&genre=article&issn=0959-6119&volume=23&issue=2&spage=174&epage=188&pages=174-188&jtitle=International+Journal+of+Contemporary+Hospitality+Management&atitle=Do+investors+reward+restaurant+firms+that+go+abroad%3F&aulast=Upneja&aufirst=Arun&rft_id=info%3Adoi%2F10.1108%2F09596111111119310&rft.language%5B0%5D=eng |
| SOLR | |
| _version_ | 1792326731949932559 |
| author | Hua, Nan, Upneja, Arun |
| author_facet | Hua, Nan, Upneja, Arun, Hua, Nan, Upneja, Arun |
| author_sort | hua, nan |
| container_issue | 2 |
| container_start_page | 174 |
| container_title | International Journal of Contemporary Hospitality Management |
| container_volume | 23 |
| description | <jats:sec><jats:title content-type="abstract-heading">Purpose</jats:title><jats:p>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.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Design/methodology/approach</jats:title><jats:p>Data for the study were obtained from the Compustat <jats:italic>Industrial Annual</jats:italic>. Pearson correlation analysis, regression analysis, and Vuong's <jats:italic>Z</jats:italic>‐test were employed to analyze the data.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Findings</jats:title><jats:p>The paper has two principal findings: the degree of internationalization is positively and significantly related to market capitalization; and the relation is strong enough to cause an 18.3 percent increase in the explanatory power, in the presence of control variables.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Research limitations/implications</jats:title><jats:p>The method of expansion might have some impact on market capitalization and this is not explicitly controlled for in the study due to data and cost constraints. Moreover, there are likely other variables affecting firms' market capitalization, but due to data constraints, they are also not included in the model.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Practical implications</jats:title><jats:p>The results indicate firms, which decide to diversify abroad, see their market capitalization changes positively with the degree of internationalization.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Originality/value</jats:title><jats:p>There are many studies that investigate the behavior of firms that diversify abroad; however, this is the first study to the authors' knowledge that examines the impact of the degree of internationalization on the stock market capitalization in the hospitality industry.</jats:p></jats:sec> |
| doi_str_mv | 10.1108/09596111111119310 |
| facet_avail | Online |
| finc_class_facet | Allgemeines |
| format | ElectronicArticle |
| format_de105 | Article, E-Article |
| format_de14 | Article, E-Article |
| format_de15 | Article, E-Article |
| format_de520 | Article, E-Article |
| format_de540 | Article, E-Article |
| format_dech1 | Article, E-Article |
| format_ded117 | Article, E-Article |
| format_degla1 | E-Article |
| format_del152 | Buch |
| format_del189 | Article, E-Article |
| format_dezi4 | Article |
| format_dezwi2 | Article, E-Article |
| format_finc | Article, E-Article |
| format_nrw | Article, E-Article |
| geogr_code | not assigned |
| geogr_code_person | not assigned |
| id | ai-49-aHR0cDovL2R4LmRvaS5vcmcvMTAuMTEwOC8wOTU5NjExMTExMTExOTMxMA |
| imprint | Emerald, 2011 |
| imprint_str_mv | Emerald, 2011 |
| institution | DE-Pl11, DE-Rs1, DE-105, DE-14, DE-Ch1, DE-L229, DE-D275, DE-Bn3, DE-Brt1, DE-D161, DE-Gla1, DE-Zi4, DE-15 |
| issn | 0959-6119 |
| issn_str_mv | 0959-6119 |
| language | English |
| last_indexed | 2024-03-01T12:26:10.254Z |
| match_str | hua2011doinvestorsrewardrestaurantfirmsthatgoabroad |
| mega_collection | Emerald (CrossRef) |
| physical | 174-188 |
| publishDate | 2011 |
| publishDateSort | 2011 |
| publisher | Emerald |
| record_format | ai |
| recordtype | ai |
| series | International Journal of Contemporary Hospitality Management |
| source_id | 49 |
| spelling | Hua, Nan Upneja, Arun 0959-6119 Emerald Tourism, Leisure and Hospitality Management http://dx.doi.org/10.1108/09596111111119310 <jats:sec><jats:title content-type="abstract-heading">Purpose</jats:title><jats:p>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.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Design/methodology/approach</jats:title><jats:p>Data for the study were obtained from the Compustat <jats:italic>Industrial Annual</jats:italic>. Pearson correlation analysis, regression analysis, and Vuong's <jats:italic>Z</jats:italic>‐test were employed to analyze the data.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Findings</jats:title><jats:p>The paper has two principal findings: the degree of internationalization is positively and significantly related to market capitalization; and the relation is strong enough to cause an 18.3 percent increase in the explanatory power, in the presence of control variables.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Research limitations/implications</jats:title><jats:p>The method of expansion might have some impact on market capitalization and this is not explicitly controlled for in the study due to data and cost constraints. Moreover, there are likely other variables affecting firms' market capitalization, but due to data constraints, they are also not included in the model.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Practical implications</jats:title><jats:p>The results indicate firms, which decide to diversify abroad, see their market capitalization changes positively with the degree of internationalization.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Originality/value</jats:title><jats:p>There are many studies that investigate the behavior of firms that diversify abroad; however, this is the first study to the authors' knowledge that examines the impact of the degree of internationalization on the stock market capitalization in the hospitality industry.</jats:p></jats:sec> Do investors reward restaurant firms that go abroad? International Journal of Contemporary Hospitality Management |
| spellingShingle | Hua, Nan, Upneja, Arun, International Journal of Contemporary Hospitality Management, Do investors reward restaurant firms that go abroad?, Tourism, Leisure and Hospitality Management |
| title | Do investors reward restaurant firms that go abroad? |
| title_full | Do investors reward restaurant firms that go abroad? |
| title_fullStr | Do investors reward restaurant firms that go abroad? |
| title_full_unstemmed | Do investors reward restaurant firms that go abroad? |
| title_short | Do investors reward restaurant firms that go abroad? |
| title_sort | do investors reward restaurant firms that go abroad? |
| title_unstemmed | Do investors reward restaurant firms that go abroad? |
| topic | Tourism, Leisure and Hospitality Management |
| url | http://dx.doi.org/10.1108/09596111111119310 |