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Hyunjoon Kim
The Department of Tourism Management, The College of Business Administration, Dong-A University, Busan 49236, Korea

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Journal article
Published: 16 February 2021 in International Journal of Environmental Research and Public Health
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This study analyzed the psychological benefits of environmentally friendly edible insect restaurants, by proposing that three subdimensions of psychological benefits positively affect attitude. Attitude was hypothesized to play an important role in the formation of desire and two subdimensions of behavioral intentions: intentions to use and willingness to pay more. A research model was verified using responses from 419 respondents collected in Korea. Data analysis indicated that (1) warm glow, (2) self-expressive benefits, and (3) nature experiences form attitude and that attitude helps to increase desire, which in turn positively enhances behavioral intentions. The data analysis results supported the importance of the psychological benefits of environmentally friendly edible insect restaurants.

ACS Style

Jinsoo Hwang; Hyunjoon Kim. Examining the Importance of Green Food in the Restaurant Industry: Focusing on Behavioral Intentions to Eat Insects. International Journal of Environmental Research and Public Health 2021, 18, 1905 .

AMA Style

Jinsoo Hwang, Hyunjoon Kim. Examining the Importance of Green Food in the Restaurant Industry: Focusing on Behavioral Intentions to Eat Insects. International Journal of Environmental Research and Public Health. 2021; 18 (4):1905.

Chicago/Turabian Style

Jinsoo Hwang; Hyunjoon Kim. 2021. "Examining the Importance of Green Food in the Restaurant Industry: Focusing on Behavioral Intentions to Eat Insects." International Journal of Environmental Research and Public Health 18, no. 4: 1905.

Journal article
Published: 24 December 2020 in Sustainability
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Food delivery services using drones have emerged, but there is not much research on it. Thus, this study was designed to examine how to form behavioral intentions based on the concept of expected benefits in the field of drone food delivery services. More specifically, this study proposed the five dimensions of expected benefits, such as compatibility, social influence, convenience, function, and emotion, have a positive influence on image. In addition, it was proposed that image has a positive influence on desire, which in turn positively affects behavioral intentions. Lastly, this study hypothesized the moderating role of gender in this process. To achieve this purpose, 343 responses were collected in South Korea. The data analysis results showed that five dimensions of expected benefits, such as compatibility, social influence, convenience, function, and emotion have a positive influence on image. In addition, the image aids to enhance desire, which in turn positively affects behavioral intentions. Lastly, gender moderated the relationship between desire and behavioral intentions. The important theoretical and practical implications of this study are discussed later in the paper.

ACS Style

Jinsoo Hwang; Hyunjoon Kim. The Effects of Expected Benefits on Image, Desire, and Behavioral Intentions in the Field of Drone Food Delivery Services after the Outbreak of COVID-19. Sustainability 2020, 13, 117 .

AMA Style

Jinsoo Hwang, Hyunjoon Kim. The Effects of Expected Benefits on Image, Desire, and Behavioral Intentions in the Field of Drone Food Delivery Services after the Outbreak of COVID-19. Sustainability. 2020; 13 (1):117.

Chicago/Turabian Style

Jinsoo Hwang; Hyunjoon Kim. 2020. "The Effects of Expected Benefits on Image, Desire, and Behavioral Intentions in the Field of Drone Food Delivery Services after the Outbreak of COVID-19." Sustainability 13, no. 1: 117.

Journal article
Published: 07 June 2020 in International Journal of Environmental Research and Public Health
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The purpose of this study is to apply the concept of a green image in order to explore how to form behavioral intentions in the context of eco-friendly edible insect restaurants. This study analyzed 444 samples collected in South Korea in order to evaluate the theoretical model including 12 hypotheses. The data analysis results showed that a green image has a positive influence on attitude. In addition, attitude helps to increase desire, which in turn positively affects two sub-dimensions of behavioral intentions, such as intentions to use and word-of-mouth intentions.

ACS Style

Jinsoo Hwang; Hyunjoon Kim; Ja Young Choe. The Role of Eco-Friendly Edible Insect Restaurants in the Field of Sustainable Tourism. International Journal of Environmental Research and Public Health 2020, 17, 4064 .

AMA Style

Jinsoo Hwang, Hyunjoon Kim, Ja Young Choe. The Role of Eco-Friendly Edible Insect Restaurants in the Field of Sustainable Tourism. International Journal of Environmental Research and Public Health. 2020; 17 (11):4064.

Chicago/Turabian Style

Jinsoo Hwang; Hyunjoon Kim; Ja Young Choe. 2020. "The Role of Eco-Friendly Edible Insect Restaurants in the Field of Sustainable Tourism." International Journal of Environmental Research and Public Health 17, no. 11: 4064.

Journal article
Published: 12 December 2019 in International Journal of Environmental Research and Public Health
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The purpose of this study was to explore the antecedents and consequences of travelers’ well-being perceptions in the context of a duty-free shop. For this, data were collected from 742 Chinese tourists who purchased goods at duty free shops while traveling in Korea within the past year using an online survey company’s system in China. The results indicated that pragmatic, hedonic, and sociability experiences have a positive influence on travelers’ well-being perceptions. In addition, travelers’ well-being perceptions aided the enhancement of brand attitude and brand preference, which in turn positively affected word-of-mouth. Novelty is the originality of this study as very few studies on this topic are presented in the extant literature and practical implications are also discussed.

ACS Style

Hyunjoon Kim; Jinkyung Jenny Kim; Muhammad Asif. The Antecedents and Consequences of Travelers’ Well-Being Perceptions: Focusing on Chinese Tourist Shopping at a Duty Free. International Journal of Environmental Research and Public Health 2019, 16, 5081 .

AMA Style

Hyunjoon Kim, Jinkyung Jenny Kim, Muhammad Asif. The Antecedents and Consequences of Travelers’ Well-Being Perceptions: Focusing on Chinese Tourist Shopping at a Duty Free. International Journal of Environmental Research and Public Health. 2019; 16 (24):5081.

Chicago/Turabian Style

Hyunjoon Kim; Jinkyung Jenny Kim; Muhammad Asif. 2019. "The Antecedents and Consequences of Travelers’ Well-Being Perceptions: Focusing on Chinese Tourist Shopping at a Duty Free." International Journal of Environmental Research and Public Health 16, no. 24: 5081.

Journal article
Published: 20 March 2019 in International Journal of Hospitality Management
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Drone food delivery services refer to services that use drones to deliver food to customers as the role of services becomes more important in the food service industry, because drone food delivery services are not affected by traffic, so they can deliver food quickly. However, there is still a lack of research about drone food delivery services. Thus, this study examined the importance and necessity of drone food delivery services using the concept of perceived innovativeness. In Korea, a total of 324 samples collected in order to test the proposed model including fifteen hypotheses. The data analysis results showed that perceived innovativeness has a positive influence on attitude toward using drone food delivery services and behavioral intentions including intentions to use and word-of-mouth intentions. In addition, the attitude played an important role in the formation of behavioral intentions. Lastly, this study found the important moderating role of gender and age.

ACS Style

Jinsoo Hwang; Jin-Soo Lee; Hyunjoon Kim. Perceived innovativeness of drone food delivery services and its impacts on attitude and behavioral intentions: The moderating role of gender and age. International Journal of Hospitality Management 2019, 81, 94 -103.

AMA Style

Jinsoo Hwang, Jin-Soo Lee, Hyunjoon Kim. Perceived innovativeness of drone food delivery services and its impacts on attitude and behavioral intentions: The moderating role of gender and age. International Journal of Hospitality Management. 2019; 81 ():94-103.

Chicago/Turabian Style

Jinsoo Hwang; Jin-Soo Lee; Hyunjoon Kim. 2019. "Perceived innovativeness of drone food delivery services and its impacts on attitude and behavioral intentions: The moderating role of gender and age." International Journal of Hospitality Management 81, no. : 94-103.

Research article
Published: 27 February 2019 in Business Strategy and the Environment
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Drone food delivery services play a significant role in protecting the environment, because the services are operated by batteries that can be charged with electricity. Therefore, this study tried to examine a green image in the context of drone food delivery services. More specifically, this study proposed that a green image of drone food delivery services plays an important role in the formation of attitude toward using the services. In addition, it was hypothesized that the attitude has a positive influence on behavioral intentions including intentions to use, word‐of‐mouth intentions, and willingness to pay more. Lastly, the moderating role of gender and age was proposed during the theory‐building process. A theoretical model, which included 12 hypotheses, was developed and tested using a total of 427 samples collected in Korea. The data analysis results showed that a green image of drone food delivery services has a positive influence on attitude toward using the services, which in turn positively affects three subdimensions of behavioral intentions. Furthermore, gender and age played partly as a moderator. The current paper was the first to study the green image of drone food delivery services, so the findings of this study mean a lot to the theoretical aspect.

ACS Style

Jinsoo Hwang; Hyunjoon Kim. Consequences of a green image of drone food delivery services: The moderating role of gender and age. Business Strategy and the Environment 2019, 28, 872 -884.

AMA Style

Jinsoo Hwang, Hyunjoon Kim. Consequences of a green image of drone food delivery services: The moderating role of gender and age. Business Strategy and the Environment. 2019; 28 (5):872-884.

Chicago/Turabian Style

Jinsoo Hwang; Hyunjoon Kim. 2019. "Consequences of a green image of drone food delivery services: The moderating role of gender and age." Business Strategy and the Environment 28, no. 5: 872-884.

Research article
Published: 01 June 2013 in Tourism Economics
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This study identifies the financial characteristics that tend to distinguish cash-rich from cash-poor publicly traded US restaurant firms operating in the 1999–2010 period. The resulting logistic regression model, developed from a forward stepwise selection procedure, is able to classify sampled firm-year observations into cash-poor and cash-rich groups with a 73.4% accuracy rate. The authors find that cash-rich restaurant firms tend to have greater investment opportunities, which make cash in hand appealing. However, cash-poor restaurants are more likely to be larger, to hold more liquid-asset substitutes, to make greater capital expenditures and to display more robust cash flows – characteristics that enhance borrowing power and/or reduce the need to hoard funds. Hence, the findings suggest a prominent role for the precautionary and transaction motives in restaurant cash-holding decision making.

ACS Style

Jiyoung Kim; David Woods; Hyunjoon Kim. Identifying the Financial Characteristics of Cash-Rich and Cash-Poor Restaurant Firms: A Logistic Regression Analysis. Tourism Economics 2013, 19, 583 -598.

AMA Style

Jiyoung Kim, David Woods, Hyunjoon Kim. Identifying the Financial Characteristics of Cash-Rich and Cash-Poor Restaurant Firms: A Logistic Regression Analysis. Tourism Economics. 2013; 19 (3):583-598.

Chicago/Turabian Style

Jiyoung Kim; David Woods; Hyunjoon Kim. 2013. "Identifying the Financial Characteristics of Cash-Rich and Cash-Poor Restaurant Firms: A Logistic Regression Analysis." Tourism Economics 19, no. 3: 583-598.

Journal article
Published: 30 September 2011 in International Journal of Hospitality Management
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ACS Style

Jiyoung Kim; Hyunjoon Kim; David Woods. Determinants of corporate cash-holding levels: An empirical examination of the restaurant industry. International Journal of Hospitality Management 2011, 30, 568 -574.

AMA Style

Jiyoung Kim, Hyunjoon Kim, David Woods. Determinants of corporate cash-holding levels: An empirical examination of the restaurant industry. International Journal of Hospitality Management. 2011; 30 (3):568-574.

Chicago/Turabian Style

Jiyoung Kim; Hyunjoon Kim; David Woods. 2011. "Determinants of corporate cash-holding levels: An empirical examination of the restaurant industry." International Journal of Hospitality Management 30, no. 3: 568-574.

Journal article
Published: 19 December 2010 in International Journal of Tourism Research
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This study examined risk features of hotel firms and the determinants of their systematic risk. After reviewing the financial data for 31 US hotel firms from 2004 through 2008, we found that 86% of the hotel firms' total risk could be characterized as unsystematic risk. The results showed that while debt leverage and growth are positively related to systematic risk, firm size is negatively associated with such risk. Our findings suggest that conservative growth via mergers and acquisitions, and less reliance on debt financing is advisable for hotel firms seeking to reduce systematic risk and enhance firm value. Copyright © 2010 John Wiley & Sons, Ltd.

ACS Style

Hyunjoon Kim; Jiyoung Kim; Zheng Gu. An examination of US hotel firms' risk features and their determinants of systematic risk. International Journal of Tourism Research 2010, 14, 28 -39.

AMA Style

Hyunjoon Kim, Jiyoung Kim, Zheng Gu. An examination of US hotel firms' risk features and their determinants of systematic risk. International Journal of Tourism Research. 2010; 14 (1):28-39.

Chicago/Turabian Style

Hyunjoon Kim; Jiyoung Kim; Zheng Gu. 2010. "An examination of US hotel firms' risk features and their determinants of systematic risk." International Journal of Tourism Research 14, no. 1: 28-39.

Journal article
Published: 30 September 2009 in International Journal of Hospitality Management
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The purpose of this study was to identify the financial features that distinguish dividend-paying firms from non-dividend-paying companies in the U.S. hospitality industry. The logistic regression model shows that firm size and profitability are significant drivers of dividend payout, whereas investment opportunities deter dividend payout. In the U.S. hospitality industry, larger hospitality firms with higher profitability but fewer investment opportunities are more likely to pay out dividends to their shareholders.

ACS Style

Hyunjoon Kim; Zheng Gu. Financial features of dividend-paying firms in the hospitality industry: A logistic regression analysis. International Journal of Hospitality Management 2009, 28, 359 -366.

AMA Style

Hyunjoon Kim, Zheng Gu. Financial features of dividend-paying firms in the hospitality industry: A logistic regression analysis. International Journal of Hospitality Management. 2009; 28 (3):359-366.

Chicago/Turabian Style

Hyunjoon Kim; Zheng Gu. 2009. "Financial features of dividend-paying firms in the hospitality industry: A logistic regression analysis." International Journal of Hospitality Management 28, no. 3: 359-366.

Journal article
Published: 14 July 2009 in The Service Industries Journal
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ACS Style

Zheng Gu; Hyunjoon Kim. CEO cash compensation determinants: an empirical examination of US airlines†. The Service Industries Journal 2009, 29, 995 -1005.

AMA Style

Zheng Gu, Hyunjoon Kim. CEO cash compensation determinants: an empirical examination of US airlines†. The Service Industries Journal. 2009; 29 (7):995-1005.

Chicago/Turabian Style

Zheng Gu; Hyunjoon Kim. 2009. "CEO cash compensation determinants: an empirical examination of US airlines†." The Service Industries Journal 29, no. 7: 995-1005.

Research article
Published: 01 November 2006 in Journal of Hospitality & Tourism Research
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This article follows up on a previous study that developed a multiple discriminant model for predicting restaurant firm bankruptcy. Using the same data set, this study developed a logit model and compared its prediction accuracy with that of the discriminant model. The two-variable logit model, resulting from a forward stepwise selection procedure, correctly predicted 94% of the in-sample restaurant companies and 93% of the out-of-sample firms 1 year prior to bankruptcy. Although the results show that the two models are equally effective in predicting restaurant bankruptcy, the logit model is preferred for restaurant bankruptcy prediction because of its theoretical soundness. Our estimated logit model suggests that restaurant firms with low earnings before interest and taxes (EBIT) and high total liabilities are more likely to go bankrupt. To reduce bankruptcy risk, restaurant operators should not only adopt a prudent financing policy but also have tight operating cost control to increase EBIT.

ACS Style

Hyunjoon Kim; Zheng Gu. Predicting Restaurant Bankruptcy: A Logit Model in Comparison with a Discriminant Model. Journal of Hospitality & Tourism Research 2006, 30, 474 -493.

AMA Style

Hyunjoon Kim, Zheng Gu. Predicting Restaurant Bankruptcy: A Logit Model in Comparison with a Discriminant Model. Journal of Hospitality & Tourism Research. 2006; 30 (4):474-493.

Chicago/Turabian Style

Hyunjoon Kim; Zheng Gu. 2006. "Predicting Restaurant Bankruptcy: A Logit Model in Comparison with a Discriminant Model." Journal of Hospitality & Tourism Research 30, no. 4: 474-493.

Refereed articles
Published: 01 September 2006 in The Journal of Hospitality Financial Management
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The purpose of this study was to develop logit models for predicting bankruptcy in the hospitality industry. Using the financial data of 16 U.S. hospitality firms that went bankrupt between 1999 and 2004 and 16 non-bankrupt matching firms, this study estimated logit models for predicting bankruptcy up to two years in advance. The logit models, resulting from forward stepwise selection procedures, could correctly predict 91 % and 84% of bankruptcy cases one and two years earlier, respectively. The estimated models imply that a hospitality firm is more likely to go bankrupt if it has lower operating cash flows and higher total liabilities. The models suggest that a prudent sales growth strategy accompanied by tighter control of operating expenses and less debt financing can help enhance a firm's ability to meet its financial obligations and thereby reduce bankruptcy risk.

ACS Style

Hyunjoon Kim; Zheng Gu. A Logistic Regression Analysis For Predicting Bankruptcy In The Hospitality Industry. The Journal of Hospitality Financial Management 2006, 14, 17 -34.

AMA Style

Hyunjoon Kim, Zheng Gu. A Logistic Regression Analysis For Predicting Bankruptcy In The Hospitality Industry. The Journal of Hospitality Financial Management. 2006; 14 (1):17-34.

Chicago/Turabian Style

Hyunjoon Kim; Zheng Gu. 2006. "A Logistic Regression Analysis For Predicting Bankruptcy In The Hospitality Industry." The Journal of Hospitality Financial Management 14, no. 1: 17-34.

Journal article
Published: 01 February 2004 in Journal of Hospitality & Tourism Research
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This study attempts to identify financial factors that affect bond ratings of hotel and casino firms by estimating a bond-rating prediction model. The ordinary least square model based on 5-year weighted average values of financial variables was able to correctly predict 60% of the bond ratings of hotel and casino firms rated by Moody’s. The model shows that number of times interest earned ratio, return on assets, and total assets have a significant impact on the bond rating of hotel and casino firms. The findings suggest that large hotel and casino firms with high return on assets and great debt service coverage tend to receive high bond ratings from Moody’s.

ACS Style

Hyunjoon Kim; Zheng Gu. Financial Determinants of Corporate Bond Ratings: An Examination of Hotel and Casino Firms. Journal of Hospitality & Tourism Research 2004, 28, 95 -108.

AMA Style

Hyunjoon Kim, Zheng Gu. Financial Determinants of Corporate Bond Ratings: An Examination of Hotel and Casino Firms. Journal of Hospitality & Tourism Research. 2004; 28 (1):95-108.

Chicago/Turabian Style

Hyunjoon Kim; Zheng Gu. 2004. "Financial Determinants of Corporate Bond Ratings: An Examination of Hotel and Casino Firms." Journal of Hospitality & Tourism Research 28, no. 1: 95-108.

Journal article
Published: 08 July 2003 in Journal of Foodservice Business Research
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ACS Style

Hyunjoon Kim; Zheng Gu. Predicting U.S. Restaurant Sales Using the Stock Index and Disposable Income. Journal of Foodservice Business Research 2003, 6, 3 -16.

AMA Style

Hyunjoon Kim, Zheng Gu. Predicting U.S. Restaurant Sales Using the Stock Index and Disposable Income. Journal of Foodservice Business Research. 2003; 6 (2):3-16.

Chicago/Turabian Style

Hyunjoon Kim; Zheng Gu. 2003. "Predicting U.S. Restaurant Sales Using the Stock Index and Disposable Income." Journal of Foodservice Business Research 6, no. 2: 3-16.

Research article
Published: 01 May 2003 in Journal of Hospitality & Tourism Research
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This study examined the risk-adjusted performance of three restaurant sectors, namely full-service restaurants, economy/buffet restaurants, and fast-food restaurants. Three indexes—the Sharpe Index, the Treynor Index, and the Jensen Index—were derived to compare the performance of the three restaurant sectors for the period 1996-2000. The findings indicate that fast-food restaurants performed the best, followed by full-service restaurants and then economy/buffet restaurants. The results also reveal that the performance of all the three restaurant sectors was inferior to that of the market portfolio. To improve their risk-adjusted performance, restaurant firms should continue to consolidate to further enhance revenue and lower operating costs, thus raising their stock returns without increasing the systematic risk. In the meantime, they should lower their unsystematic risk.

ACS Style

Hyunjoon Kim; Zheng Gu. Risk-Adjusted Performance: A Sector Analysis of Restaurant Firms. Journal of Hospitality & Tourism Research 2003, 27, 200 -216.

AMA Style

Hyunjoon Kim, Zheng Gu. Risk-Adjusted Performance: A Sector Analysis of Restaurant Firms. Journal of Hospitality & Tourism Research. 2003; 27 (2):200-216.

Chicago/Turabian Style

Hyunjoon Kim; Zheng Gu. 2003. "Risk-Adjusted Performance: A Sector Analysis of Restaurant Firms." Journal of Hospitality & Tourism Research 27, no. 2: 200-216.

Journal article
Published: 01 May 2003 in Journal of Hospitality & Tourism Research
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This article follows up on a previous study that examined the systematic risk of hotel real estate investment trusts (REITs). Although the previous study found that the predominant component of hotel REITs' risk was the unsystematic risk, it analyzed only the determinants of the systematic risk. This article discusses the relevance of hotel REITs' unsystematic risk in firm valuation and investigates financial variables that affect the unsystematic risk. Using backward selection regression method, we found that hotel REITs' unsystematic risk was associated positively with debt and dividend payout but negatively with capitalization. The findings suggest that large hotel REIT firms paying lower dividends and using less debt are likely to have an advantage in firm valuation.

ACS Style

Zheng Gu; Hyunjoon Kim. An Examination of the Determinants of Hotel Reits' Unsystematic Risk. Journal of Hospitality & Tourism Research 2003, 27, 166 -184.

AMA Style

Zheng Gu, Hyunjoon Kim. An Examination of the Determinants of Hotel Reits' Unsystematic Risk. Journal of Hospitality & Tourism Research. 2003; 27 (2):166-184.

Chicago/Turabian Style

Zheng Gu; Hyunjoon Kim. 2003. "An Examination of the Determinants of Hotel Reits' Unsystematic Risk." Journal of Hospitality & Tourism Research 27, no. 2: 166-184.

Refereed articles
Published: 01 September 2002 in The Journal of Hospitality Financial Management
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This study reexamines determinants of the systematic risk or beta of restaurant firms based on the financial data of 75 U.S. restaurant firms from 1996 through 1999. Our weighted least-squares regression analysis found that restaurant systematic risk correlated negatively with assets turnover but positively with quick ratio. The findings suggest that high efficiency in generating sales revenue helps lower the systematic risk, while excess liquidity tends to increase the risk.

ACS Style

Zheng Gu; Hyunjoon Kim. Determinants of Restaurant Systematic Risk: A Reexamination. The Journal of Hospitality Financial Management 2002, 10, 1 -13.

AMA Style

Zheng Gu, Hyunjoon Kim. Determinants of Restaurant Systematic Risk: A Reexamination. The Journal of Hospitality Financial Management. 2002; 10 (1):1-13.

Chicago/Turabian Style

Zheng Gu; Hyunjoon Kim. 2002. "Determinants of Restaurant Systematic Risk: A Reexamination." The Journal of Hospitality Financial Management 10, no. 1: 1-13.

Journal article
Published: 01 March 2002 in International Journal of Hospitality Management
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This empirical study investigated the performance of hotel real estate investment trusts (REITs) over the 1993–1999 period in comparison with the overall market and six other REIT sectors. The Jensen Index was employed to measure the performance of each REIT sector relative to the market portfolio. A one-way analysis of variance (ANOVA) was conducted and the Tukey multiple comparison method was used to enable performance comparisons across the REIT sectors. The results indicate that hotel REITs carried the highest market risk as compared to other REIT sectors. The risk-adjusted return of hotel REITs was in line with that of the overall market. Moreover, as a portfolio, the hotel REIT sector underperformed office, industrial, and diversified REIT sector. In terms of individual stock performance, the average performance of hotel REITs was inferior to those of office, industrial, residential, and diversified REITs. These findings suggest that a conservative growth strategy accompanied by an internally oriented financing policy may help lower hotel REITs’ risk and improve their return, thus improving their risk-adjusted performance.

ACS Style

Hyunjoon Kim; Anna S. Mattila; Zheng Gu. Performance of hotel real estate investment trusts: a comparative analysis of Jensen indexes. International Journal of Hospitality Management 2002, 21, 85 -97.

AMA Style

Hyunjoon Kim, Anna S. Mattila, Zheng Gu. Performance of hotel real estate investment trusts: a comparative analysis of Jensen indexes. International Journal of Hospitality Management. 2002; 21 (1):85-97.

Chicago/Turabian Style

Hyunjoon Kim; Anna S. Mattila; Zheng Gu. 2002. "Performance of hotel real estate investment trusts: a comparative analysis of Jensen indexes." International Journal of Hospitality Management 21, no. 1: 85-97.

Article
Published: 01 December 1998 in Progress in Tourism and Hospitality Research
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This study examines the risk features of casino firms. In particular, it investigates the systematic and unsystematic risks of investing in casino stocks and the determinants of their systematic risk, or beta. Using the financial data of 35 USA casino firms from 1992 through 1994, the study found that 92% of their total risk was contributed by firm-specific unsystematic risk. The rest was due to their market-related systematic risk. The systematic risk was found to be negatively correlated with assets turnover ratio. The findings suggest that making existing gaming capacity more productive, rather than expanding, may reduce a casino firm's systematic risk and enhance the firm value. Copyright © 1998 John Wiley & Sons, Ltd.

ACS Style

Zheng Gu; Hyunjoon Kim. Casino Firms' Risk Features and their Beta Determinants. Progress in Tourism and Hospitality Research 1998, 4, 357 -365.

AMA Style

Zheng Gu, Hyunjoon Kim. Casino Firms' Risk Features and their Beta Determinants. Progress in Tourism and Hospitality Research. 1998; 4 (4):357-365.

Chicago/Turabian Style

Zheng Gu; Hyunjoon Kim. 1998. "Casino Firms' Risk Features and their Beta Determinants." Progress in Tourism and Hospitality Research 4, no. 4: 357-365.