文章基本信息

标题：An Examination of Financial Leverage Trends in the Lodging Industry
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作者：Lee, Seoki
期刊名称：Journal of Hospitality Financial Management
出版年度：2007
卷号：15
期号：1
页码：4
出版社：University of Massachusetts - Amherst
摘要：This study examines financial leverage trends of firms in the US 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.