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040			_cMANILA TYTANA COLLEGES LIBRARY
100			_aSingh, Dipendra.
245	1		_aCredit fluctuations and lodging firms : _ban investigation of the differing capital structures in the U.S. lodging industry / _cDipendra Singh, Carola Raab, Kari Mayer, Ashok Singh
260			_cJuly-December 2014
336			_atxt
337			_aunmediated
338			_avolume
440			_aInternational Journal of Hospitality & Tourism Administration _n15 : 3-4 Page 333-353
520			_aIn the area of corporate finance, decisions regarding the constituents of overall capital structure are the most critical. These financing decisions are even more critical to lodging firms because of the unique nature of the industry. This study empirically investigates the effect of credit availability on the leverage of the lodging industry in the U.S. using multivariate analysis of variance. Three time points of differing credit availability (low, high, and average) were identified using the Case-Shiller home price index. Leverage, net leverage, and short-to-long-term debt ratios of large and small U.S. lodging firms were analyzed at these differing credit availability time points to assess any significant differences. Significant effects of credit availability were found on the leverage and net leverage of lodging firms, but no significant effect was found on the short- to long-term debt ratio of U.S. lodging firms. Interestingly, the leverage levels were found to be highest at the average availability of credit than when compared to the high and low availability of credit.
521			_aTourism
650			_aCredit fluctuations.
650			_aLodging firms.
650			_aCapital structure.
650			_aHousing-price-index.
650			_aBusiness cycles.
942			_cA _2lcc
998			_c78695 _d137058
999			_c75722 _d75722