Matches in SemOpenAlex for { <https://semopenalex.org/work/W2043784419> ?p ?o ?g. }
- W2043784419 endingPage "108" @default.
- W2043784419 startingPage "100" @default.
- W2043784419 abstract "Abstract The hotel industry in the United States has witnessed the rapid spread of the strategy of pursuing fee-based business (management/franchise) while going asset light. The two main consequences of this strategy are protection by shaving off fixed assets, and growth without a huge capital investment by expanding fee-based business. We examined how the impacts of this strategy vary with the business cycle. During a contraction period, the stable income stream of fee-based revenue and low operating leverage protect the firms from unexpected negative shocks. However, the efficient management of core intangible assets and the fee income structure resembling option payoffs act as driving forces to growth during an expansion period, increasing the firm's sensitivity to economic recovery. Consistent with the hypotheses, the management/franchising firms’ beta was lower during contraction periods but higher during expansion periods than non-management/franchising firms’ beta, and the beta movement between the two periods was significant in both groups. However, the proposed effects of the strategy appeared to apply only to the firms substantially engaged in fee-based business. Firms employing the strategy at a low or moderate level had stable beta over the cycle." @default.
- W2043784419 created "2016-06-24" @default.
- W2043784419 creator A5040054558 @default.
- W2043784419 creator A5045717763 @default.
- W2043784419 creator A5069017220 @default.
- W2043784419 date "2014-07-01" @default.
- W2043784419 modified "2023-09-27" @default.
- W2043784419 title "Asymmetric impacts of the asset-light and fee-oriented strategy: The business cycle matters!" @default.
- W2043784419 cites W152374212 @default.
- W2043784419 cites W1524557230 @default.
- W2043784419 cites W1974587544 @default.
- W2043784419 cites W1980393914 @default.
- W2043784419 cites W1995834279 @default.
- W2043784419 cites W2005118298 @default.
- W2043784419 cites W2015800048 @default.
- W2043784419 cites W2030298911 @default.
- W2043784419 cites W2037988865 @default.
- W2043784419 cites W2045287707 @default.
- W2043784419 cites W2048096078 @default.
- W2043784419 cites W2062649295 @default.
- W2043784419 cites W2069093060 @default.
- W2043784419 cites W2090281615 @default.
- W2043784419 cites W2091471259 @default.
- W2043784419 cites W2094161779 @default.
- W2043784419 cites W2095640496 @default.
- W2043784419 cites W2099615848 @default.
- W2043784419 cites W2101946146 @default.
- W2043784419 cites W2102707354 @default.
- W2043784419 cites W2104795328 @default.
- W2043784419 cites W2106234437 @default.
- W2043784419 cites W2111199605 @default.
- W2043784419 cites W2116717227 @default.
- W2043784419 cites W2125520394 @default.
- W2043784419 cites W2128475248 @default.
- W2043784419 cites W2136120210 @default.
- W2043784419 cites W2139250112 @default.
- W2043784419 cites W2143557201 @default.
- W2043784419 cites W2155577450 @default.
- W2043784419 cites W2166215547 @default.
- W2043784419 cites W2167953453 @default.
- W2043784419 cites W2170415678 @default.
- W2043784419 cites W3023328140 @default.
- W2043784419 cites W3121200978 @default.
- W2043784419 cites W3122120088 @default.
- W2043784419 cites W3122252805 @default.
- W2043784419 cites W3122649028 @default.
- W2043784419 cites W3124259038 @default.
- W2043784419 cites W3125276999 @default.
- W2043784419 cites W3125582413 @default.
- W2043784419 cites W3125757009 @default.
- W2043784419 cites W3125776891 @default.
- W2043784419 cites W3125885610 @default.
- W2043784419 cites W4246784033 @default.
- W2043784419 cites W4254390039 @default.
- W2043784419 doi "https://doi.org/10.1016/j.ijhm.2014.03.007" @default.
- W2043784419 hasPublicationYear "2014" @default.
- W2043784419 type Work @default.
- W2043784419 sameAs 2043784419 @default.
- W2043784419 citedByCount "27" @default.
- W2043784419 countsByYear W20437844192015 @default.
- W2043784419 countsByYear W20437844192016 @default.
- W2043784419 countsByYear W20437844192017 @default.
- W2043784419 countsByYear W20437844192018 @default.
- W2043784419 countsByYear W20437844192019 @default.
- W2043784419 countsByYear W20437844192020 @default.
- W2043784419 countsByYear W20437844192021 @default.
- W2043784419 countsByYear W20437844192022 @default.
- W2043784419 countsByYear W20437844192023 @default.
- W2043784419 crossrefType "journal-article" @default.
- W2043784419 hasAuthorship W2043784419A5040054558 @default.
- W2043784419 hasAuthorship W2043784419A5045717763 @default.
- W2043784419 hasAuthorship W2043784419A5069017220 @default.
- W2043784419 hasConcept C10138342 @default.
- W2043784419 hasConcept C139719470 @default.
- W2043784419 hasConcept C144133560 @default.
- W2043784419 hasConcept C162324750 @default.
- W2043784419 hasConcept C38652104 @default.
- W2043784419 hasConcept C41008148 @default.
- W2043784419 hasConcept C76178495 @default.
- W2043784419 hasConcept C83873408 @default.
- W2043784419 hasConceptScore W2043784419C10138342 @default.
- W2043784419 hasConceptScore W2043784419C139719470 @default.
- W2043784419 hasConceptScore W2043784419C144133560 @default.
- W2043784419 hasConceptScore W2043784419C162324750 @default.
- W2043784419 hasConceptScore W2043784419C38652104 @default.
- W2043784419 hasConceptScore W2043784419C41008148 @default.
- W2043784419 hasConceptScore W2043784419C76178495 @default.
- W2043784419 hasConceptScore W2043784419C83873408 @default.
- W2043784419 hasLocation W20437844191 @default.
- W2043784419 hasOpenAccess W2043784419 @default.
- W2043784419 hasPrimaryLocation W20437844191 @default.
- W2043784419 hasRelatedWork W1487201442 @default.
- W2043784419 hasRelatedWork W1992546631 @default.
- W2043784419 hasRelatedWork W2006828267 @default.
- W2043784419 hasRelatedWork W2019169658 @default.
- W2043784419 hasRelatedWork W2027753577 @default.
- W2043784419 hasRelatedWork W2170576445 @default.
- W2043784419 hasRelatedWork W3122487105 @default.