지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2011.7
- 수록면
- 335 - 350 (16page)
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초록· 키워드
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This study examines whether [um values in restaurant companies are potentially related to the levels of cash held by those firms. The investigation divides 987 finn-year observations from 115 US-based restaurant firm: during the 1997 to 2008 period into quartiles based on their cash-holding levels. Three common market-based measures of return (Tobin's Q, market-to-book-value ratio, and price-to-book-value ratio) were used to assess firm values for the most and least cash-holding intensive quartiles. The results reveal that, by each of these measures, the market places higher value on the cash-rich restaurant firms than it does on the cash-poor restaurant firms. These findings generally support the trade-off theory of cash holdings in the restaurant industry, implying that cash reserves can be a strategically managed means for creating and maintaining value in restaurant firms.
목차
Abstract
Ⅰ. Introduction
Ⅱ. Previous Findings and Research Hypothesis
Ⅲ. Data and Methodology
Ⅳ. Results
Ⅴ. Discussion, Conclusion, and Further Research
References
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UCI(KEPA) : I410-ECN-0101-2013-326-000478513