An examination of financial leverage trends in the lodging industry

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Abstract

This study examines financial leverage trends of firms in the U.S. lodging industry for the period 1980 to 2005. It compares mean and median leverage ratio estimates of lodging firms to find which works better as an industry norm during the entire sample period, as well as during economic expansion and recession periods. Research results suggest that the industry median leverage ratio is more valid than the mean industry ratio as a proxy for the lodging industry. Results also suggest that the industry median leverage ratio is valid during the recession periods, but not during the expansion periods.

Original languageEnglish (US)
Pages (from-to)35-45
Number of pages11
JournalJournal of Hospitality Financial Management
Volume15
Issue number1
DOIs
StatePublished - 2007

All Science Journal Classification (ASJC) codes

  • Finance
  • Tourism, Leisure and Hospitality Management
  • Strategy and Management

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