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ADVERTISING EFFICIENCIES IN THE HOSPITALITY AND TOURISM INDUSTRY
Bhagwa, Yatin N.
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Advertising provides growth in sales volume for the new products and services. The hospitality industry relies heavily on advertising through travel journals and travel sections of print media, television media, and the Internet. The hospitality industry encompasses hotels, cruise lines, theme parks and holiday resorts. The focus of this paper is to investigate the long-term relationship between accounting defined changes in earnings and changes in advertising expenditure by estimation of the degree of advertising leverage -- a measure similar to the degree of total leverage.