Determinants of using operating lease in the hotel industry

International Journal of Hospitality Management

Volumn 28, Issue 4, 2009, Pages 638-640

  Koh, Jung Hwan ^a  

^a Shawn)   (United States)

Author keywords

Financing strategy; Hotel industry; Operating lease

Indexed keywords

EID: 67349163590     PISSN: 02784319     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ijhm.2009.03.002     Document Type: Article

References (18)

1. Adams M., and Hardwick P. Determinants of the leasing decision in United Kingdom listed companies. Applied Financial Economics 8 5 (1998) 487-494
2. Altman E.I. Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance 23 4 (1968) 589-609
3. Ang J., and Peterson P.P. The leasing puzzle. Journal of Finance 39 4 (1984) 1055-1065
4. Chung K.H., and Pruitt S.W. A simple approximation of Tobin's q. Financial Management 23 3 (1994) 70-74
5. Deloof M., Lagaert I., and Verschueren I. Lease and debt: complements or substitutes? Evidence from Belgian SMEs. Journal of Small Business Management 45 4 (2007) 491-500
6. Duke J.C., Franz D.P., Hunt Iii H.G., and Toy D.R. Firm-specific determinants of off-balance sheet leasing: a test of the Smith/Wakeman model. Journal of Business and Management 8 4 (2002) 335-353
7. Graham J.R., Lemmon M.L., and Schallheim J.S. Debt, lease, taxes, and the endogeneity of corporate tax status. Journal of Finance 53 1 (1998) 131-162
8. Jang S., Tang C., and Chen M. Financing behaviors of hotel companies. International Journal of Hospitality Management 27 (2008) 478-487
9. Krishnan V.S., and Moyer R.C. Bankruptcy costs and the financial leasing decision. Financial Management 23 2 (1994) 31-42
10. Miller M.H., and Upton C.W. Leasing, buying and the cost of capital services. Journal of Finance 31 3 (1976) 761-786
11. Myers S.C., and Majluf N.S. Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics 13 2 (1984) 187-221
12. Sharpe S.A., and Nguyen H.H. Capital market imperfections and the incentive to lease. Journal of Financial Economics 39 2-3 (1995) 271-294
13. Smith Jr. C.W., and Wakeman L.M. Determinants of corporate leasing policy. Journal of Finance 40 3 (1985) 895-908
14. Tang C., and Jang S. REIT requirements and hotel REITs' profitability: a comparative analysis. International Journal of Hospitality Management 27 (2008) 614-622
15. Tobin J. A general equilibrium approach to monetary theory. Journal of Money, Credit and Banking 1 (1969) 15-29
16. Upneja A., and Schmidgall R. Equipment leasing in the U.S. lodging industry what, why, and how much. Cornell Hotel and Restaurant Administration Quarterly 42 2 (2001) 56-61
17. Whitford M. Sale/lease-back agreements gain popularity. Hotel and Motel Management 213 16 (1998) 72
18. Whittaker C. Hotel operator motives in UK sale and leaseback/management-back transactions. International Journal of Hospitality Management 27 4 (2008) 641-648