Corporate Real Estate Holdings And Financial Performance Of Restaurant Firms

Keywords

Corporate real estate holdings; Financial performance; Market-driven risk; Restaurant firms

Abstract

Most restaurant firms, by their operational nature, own and operate a large amount of corporate real estate (CRE), even though real estate is not their primary business activity. This is not only common across restaurant firms of different sizes but also linked to their sales and profitability. Borrowing the arguments of resource-based theory and using financial data for the years between 1999 and 2014, this study investigated the relationship between CRE holdings and restaurant firm performance in the United States. Briefly, our findings demonstrate that the CRE ratio and the rent ratio, in particular, have different impacts on restaurant firms’ financial performance and market-driven risk structures when different forward lags are considered.

Publication Date

1-1-2018

Publication Title

Journal of Hospitality Financial Management

Volume

26

Issue

1

Number of Pages

4-14

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.7275/R50V8B1S

Socpus ID

85048257969 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/85048257969

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