文章基本信息

标题：Light Debt Users and Heavy Debt Users in the Restaurant Industry: A Discriminant Analysis
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作者：Gu, Zheng
期刊名称：Journal of Hospitality Financial Management
出版年度：1998
卷号：6
期号：1
页码：4
出版社：University of Massachusetts - Amherst
摘要：The purpose of this study is to investigate the wide diversity in financing of publicly traded restaurant firms in the United States. Fisher discriminant functions were estimated and firm features differentiating light debt users from heavy debt users were identified and analyzed. The study has found that managerial control is the most important contributor to the diversity in debt use in the restaurant industry. Size and type of operation also explain the diversity. The analysis shows that small full-senice restaurant firms with low managerial ownership tend to use less debt, while large economy/buffet or fast-food restaurant firms under tight managerial control are likely to be heavy debt users.