The Effect of Financial Leverage on Profitability and Risk of Restaurant Firms

References

• Borde , S. F. 1998 . Risk diversity across restaurants: An empirical analysis . Cornell Hotel and Restaurant Administration Quarterly , 39 ( 2 ) : 64 – 69 .
   Google Scholar
• Dalbor , M. and Upneja , A. 2002 . Factor affecting the long-term debt decision of restaurant firms . Journal of Hospitality & Tourism Research , 26 ( 4 ) : 422 – 432 .
   Google Scholar
• Dann , L. 1981 . Common stock repurchases: An analysis of returns to bondholders and stockholders . Journal of Financial Economics , 9 ( 2 ) : 113 – 138 .
   Web of Science ®Google Scholar
• Elgonemy , A. 2002 . Debt-financing alternatives: Refinancing and restructuring in the lodging industry . Cornell Hotel and Restaurant Administration Quarterly , 43 ( 3 ) : 7 – 21 .
   Google Scholar
• Enrst , S. 2002 . Market analysis, financial plan improve restaurants' success . Hotel & Motel Management , 217 ( 8 ) May 6 : 10
   Google Scholar
• Gu , Z. 1993 . Debt use and profitability: A reality check for the restaurant industry . Journal of Foodservice Systems , 7 : 135 – 147 .
   Google Scholar
• Gu , Z. 1994 . Hospitality investment return, risk, and performance indexes: A ten-year examination . Hospitality Research Journal , 17 : 17 – 26 .
   Google Scholar
• Higgins , R. C. 1977 . Financial management: Theory and application. , Chicago : Science Research Associates, Inc. .
   Google Scholar
• Hittle , L. , Haddad , K. and Gitman . 1992 . Over-the counter firms, asymmetric information, and financing preference . Review of Financial Economics , 2 ( 1 ) : 81 – 92 .
   Google Scholar
• James , C. 1987 . Some evidence on the uniqueness of bank loans . Journal of Financial Economics , 19 ( 2 ) : 217 – 235 .
   Web of Science ®Google Scholar
• Kim , W. 1997 . The determinants of capital structure choice in the U.S. restaurant industry . Tourism Economics , 3 : 329 – 340 .
   Google Scholar
• Miller , M. H. 1977 . Debt and taxes . Journal of Finance , 32 ( 2 ) : 261 – 275 .
   Web of Science ®Google Scholar
• Modigliani , R. and Miller , M. 1958 . The cost of capital, corporate finance, and the theory of investment . American Economic Review , 48 : 261 – 297 .
   Web of Science ®Google Scholar
• Myers , S. C. 1984 . The capital structure puzzle . Journal of Finance , 39 ( 3 ) : 575 – 592 .
   Web of Science ®Google Scholar
• Myers , S. C. 2001 . Capital structure . Journal of Economics Perspectives , 15 ( 2 ) : 81 – 102 .
   Web of Science ®Google Scholar
• Peters , J. 2002 . The economy . Nation's Restaurant News , 36 ( 39 ) Sept. 30 : 74 76 78
   Google Scholar
• Pinegar , J. and Wilbricht , L. 1989 . What managers think of capital structure theory: A survey . Financial Management , 18 ( 4 ) : 82 – 91 .
   Web of Science ®Google Scholar
• Sheel , A. 1994 . Determinants of capital structure choice and empirics on leverage behavior: A comparative analysis of hotel and manufacturing firms . Hospitality Research Journal , 17 : 3 – 16 .
   Google Scholar
• Skalpe , O. 2003 . Hotels and restaurants–Are the risk rewarded? Evidence from Norway . Tourism Management , 24 : 623 – 634 .
   Web of Science ®Google Scholar
• Sunder , L. and Myers , S. 1999 . Testing static tradeoff against pecking order models of capital structure . Journal of Financial Economics , 51 : 219 – 244 .
   Web of Science ®Google Scholar
• Titman , S. and Wessles , R. 1988 . The determinants of capital structure choice . Journal of Finance , 43 ( 1 ) : 1 – 19 .
   Web of Science ®Google Scholar
• Upneja , A. and Dalbor , M. C. 2001 . An examination of capital structure in the restaurant industry . International Contemporary Hospitality Management , 13 ( 2 ) : 54 – 59 .
   Google Scholar
• Wald , J. K. 1999 . How firm characteristics affect capital structure: an international comparison . Journal of Financial research , 22 ( 2 ) : 161 – 188 .
   Google Scholar