Pecking order puzzle: Restaurant firms’ unique financing behaviors

Pecking order puzzle: Restaurant firms’ unique financing behaviors •Pecking order puzzle is confirmed in the restaurant industry.•Restaurants with financial deficits rely more on equity financing than restaurants with financial surplus.•Franchise funds alleviate financial deficits in the restaurant industry.•Franchise restaurants used less equity financing than non-franchise restaurants in cases of financial deficits.•Franchise and non-franchise restaurant firms with a financial surplus did not significantly rely on equity financing. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Hospitality Management Elsevier

Pecking order puzzle: Restaurant firms’ unique financing behaviors

Loading next page...
 
/lp/elsevier/pecking-order-puzzle-restaurant-firms-unique-financing-behaviors-OcVihzsZ4f
Publisher
Elsevier
Copyright
Copyright © 2017 Elsevier Ltd
ISSN
0278-4319
D.O.I.
10.1016/j.ijhm.2017.10.014
Publisher site
See Article on Publisher Site

Abstract

•Pecking order puzzle is confirmed in the restaurant industry.•Restaurants with financial deficits rely more on equity financing than restaurants with financial surplus.•Franchise funds alleviate financial deficits in the restaurant industry.•Franchise restaurants used less equity financing than non-franchise restaurants in cases of financial deficits.•Franchise and non-franchise restaurant firms with a financial surplus did not significantly rely on equity financing.

Journal

International Journal of Hospitality ManagementElsevier

Published: Mar 1, 2018

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create lists to
organize your research

Export lists, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off