The Choice of Industrial Diversification Strategy for Public Listed Firms in the Hotel Industry
This study suggests two new diversification strategies, i.e., tourism-related and tourism-unrelated diversifications which are specifically applicable to the hotel firms. This study aims to investigate which diversification strategy has better benefits toward firm performance. This study includes...
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| Main Author: | |
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| Format: | Book Section |
| Language: | English English |
| Published: |
Emerald Publishing Limited
2018
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| Subjects: | |
| Online Access: | http://eprints.unisza.edu.my/3758/1/FH05-FSSG-18-15083.pdf http://eprints.unisza.edu.my/3758/2/FH05-FSSG-18-15082.pdf http://eprints.unisza.edu.my/3758/ |
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| Summary: | This study suggests two new diversification strategies, i.e., tourism-related
and tourism-unrelated diversifications which are specifically applicable to the
hotel firms. This study aims to investigate which diversification strategy has
better benefits toward firm performance. This study includes a complete set
of public listed firms of the hotel industry from four Asian countries, namely,
Hong Kong, Singapore, China, and Malaysia, covering from years 2001 to
2012. Revealing the advantage and disadvantage of both diversification strategies, the empirical evidence regarding its influences on hotel firm performance are investigated in this study. This study finds a nonlinear relationship
between degree of diversification and firm performance. Confronting with the
volatile earnings when crises strike tourism sector, this study further shows
how the crises affect the relationship between tourism-related/unrelated
diversification strategy and hotel firm performance. |
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