000002432 001__ 2432
000002432 005__ 20190423205540.0
000002432 037__ $$aCONFERENCE
000002432 245__ $$binternational evidence$$aDoes leverage impair earnings quality in the hospitality industry? :
000002432 260__ $$c2018$$b14-15 May 2018$$aLausanne, Switzerland
000002432 269__ $$a2018-05
000002432 300__ $$a31 p.
000002432 506__ $$avisible
000002432 520__ $$9eng$$aWe investigate the determinants of leverage and the impact of leverage on earnings quality using a large sample of public firms incorporated in 24 countries, from five hospitality sub-industries (bars and restaurants, gambling, hotels, recreational services, and travel and tourism), over the 2000-2016 period. First, we show that firm-specific characteristics (size, tangibility, and growth opportunities) as well as the institutional context are associated with leverage. Second, we find that leverage is positively related to abnormal accruals, our proxy for earnings quality. We thus confirm the detrimental effect leverage has on the reliability of accounting information. Our results are robust to using alternative earnings management measures, to excluding some countries, and to splitting leverage between its short- and long-term components. Overall, our findings contribute to the empirical literature on the determinants and the consequences of leverage in the global hospitality industry.
000002432 592__ $$aEHL
000002432 592__ $$cEconomie et Services
000002432 65017 $$aEconomie/gestion
000002432 6531_ $$aleverage$$9eng
000002432 6531_ $$aearnings management$$9eng
000002432 6531_ $$ahospitality industry$$9eng
000002432 6531_ $$ainternational evidence$$9eng
000002432 655_7 $$afull paper
000002432 700__ $$uEcole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland$$aJérôme, Tiphaine
000002432 700__ $$uEcole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland$$aPoretti, Cédric
000002432 700__ $$aSchatt, Alain$$uHEC Lausanne, University of Lausanne
000002432 711__ $$aThe 2nd Wine & Hospitality Management Workshop$$cLausanne, Switzerland$$d14/05/2018 / 15/05/2018
000002432 773__ $$tProceedings of the 2nd Wine & Hospitality Management Workshop, 2018
000002432 8564_ $$uhttps://hesso.tind.io/record/2432/files/Tiphaine_does_leverage_impair_2018.pdf$$s825423
000002432 906__ $$aNONE
000002432 909CO $$pDOMAINE_ECONOMIESERVICE_CONFERENCE$$pGLOBAL_SET$$ooai:hesso.tind.io:2432
000002432 950__ $$aI1
000002432 980__ $$aconference