Strategic Choice and Financial Structure in Casual Themed Restaurants

dc.contributor.authorKim, Joung-Eunen
dc.contributor.committeechairOlsen, Michael D.en
dc.contributor.committeememberKumar, Ramanen
dc.contributor.committeememberKwansa, Francis A.en
dc.contributor.departmentHospitality and Tourism Managementen
dc.description.abstractCapital structure is one of the most frequent topics in the finance literature. This literature has its origins in studies of the manufacturing industry. Much of the results of this work have been applied indiscriminately to other industries without thorough validation. Only limited studies have considered financial structure in hospitality industry. The service industry is different than manufacturing industry, and even the hospitality industry is not homogeneous. The restaurant industry and lodging industry are quite different from each other. Of interest to this present study is to seek to understand how the patterns of capital structure are shaped within the context of the multi-unit casual themed restaurant industry. Restaurant industry is well known for a high bankruptcy rate. Many multi-unit restaurants exist in the casual themed restaurants strategic group in the Unites States, and many small independent restaurants are also present. The firm's strategic choice and its relationship with financial structure became a topic for my research. Publicly traded casual themed restaurants have been selected in this study. Hypothetically a common capital structure exists among firms within this strategic group. In this study, an investigation can consider the relationship among financial ratios as well as the uniqueness of the financial structure of the casual themed restaurants.en
dc.description.degreeMaster of Scienceen
dc.publisherVirginia Techen
dc.rightsIn Copyrighten
dc.subjectFinancial Ratioen
dc.subjectWorking Capitalen
dc.subjectFinancial Structureen
dc.subjectFirm Valueen
dc.subjectShort-term Debten
dc.subjectLong-term Debten
dc.titleStrategic Choice and Financial Structure in Casual Themed Restaurantsen
dc.typeThesisen and Tourism Managementen Polytechnic Institute and State Universityen of Scienceen


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