期刊論文
| 學年 | 110 |
|---|---|
| 學期 | 2 |
| 出版（發表）日期 | 2022-02-01 |
| 作品名稱 | Convex-concave effect of financial flexibility on hospitality performance: Quantile regression approach |
| 作品名稱（其他語言） | |
| 著者 | Bao-Guang Chang; Kun-Shan Wu |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | International Journal of Contemporary Hospitality Management 34(2), pp.687-712 |
| 摘要 | Purpose The purpose of this paper is to study the influence of financial flexibility (FF) on enterprise performance (EP) within Taiwan’s hospitality industry during the COVID-19 shock and explore whether EP varies with hospitality industry characteristics. Design/methodology/approach Secondary data of 39 Taiwan Stock Exchange-listed hospitality firms were collected from the Taiwan Economic Journal databases. Quantile regression analysis was applied to examine the FF-EP relationship Findings The results evidence that there is a U-shaped (convex) FF-EP relationship for hospitality firms in the 10th, 25th and 50th Tobin’s Q quantiles and in asset-heavy firms. For asset-light firms, FF has an inverted U-shaped (concave) effect on EP in the 90th Tobin’s Q quantile Practical implications The empirical results highlight the need for Taiwan’s hospitality industry as a whole to take rolling adjustment and optimization of FF and concentrate on liquidity risk management after the COVID-19 pandemic and for long-term sustainability. Originality/value To the best of the authors’ knowledge, this study is one of the first to examine the nonlinear FF-EP relationship in the hospitality industry of Taiwan, particularly amid the COVID-19 shock. Moreover, this study extends current literature by revealing the hospitality industry’s FF-EP relationship and highlights the importance of the pandemic crisis context. |
| 關鍵字 | |
| 語言 | en_US |
| ISSN | 0959-6119 |
| 期刊性質 | 國外 |
| 收錄於 | SSCI Scopus ABS* |
| 產學合作 | |
| 通訊作者 | Kun-Shan Wu |
| 審稿制度 | 是 |
| 國別 | GBR |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/122766 ) |