The investigation of the effect of corporate governance on firm's credit ratings in the hospitality industry

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dc.contributor.authorGuo, Kenien
dc.contributor.committeechairSingal, Manishaen
dc.contributor.committeememberXiang, Zhengen
dc.contributor.committeememberMagnini, Vincent Paulen
dc.contributor.departmentHospitality and Tourism Managementen
dc.date.accessioned2016-12-11T07:00:15Zen
dc.date.available2016-12-11T07:00:15Zen
dc.date.issued2015-06-19en
dc.description.abstractInvestment in hospitality firms is perceived to be riskier than investments in other types of industries. Based on literature linking good corporate governance to lower default risks and higher credit ratings, this quantitative study is designed to identify the effects of corporate governance on credit ratings in the hospitality industry. After exploring the various factors influencing the characteristics of corporate governance, as well as the specific risks for capital financing in hospitality firms, this research provides empirical evidence to show that hospitality firms with stronger shareholder influence tend to have higher credit ratings. In a related finding, this investigation confirms that hospitality stakeholders are able to evaluate their potential risks by determining a firm's credit ratings and can protect their long-term interest by increasing their power versus management in the corporate governance of the firm.en
dc.description.degreeMaster of Scienceen
dc.format.mediumETDen
dc.identifier.othervt_gsexam:5542en
dc.identifier.urihttp://hdl.handle.net/10919/73655en
dc.publisherVirginia Techen
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subjectCorporate Governanceen
dc.subjectCredit Ratingsen
dc.subjectDebt Financingen
dc.subjectAgency Costen
dc.titleThe investigation of the effect of corporate governance on firm's credit ratings in the hospitality industryen
dc.typeThesisen
thesis.degree.disciplineHospitality and Tourism Managementen
thesis.degree.grantorVirginia Polytechnic Institute and State Universityen
thesis.degree.levelmastersen
thesis.degree.nameMaster of Scienceen

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