Title

Underlying Factors of Ups and Downs in Financial Leverage Overtime

Document Type

Article

Publication Date

12-21-2017

Publication Title

Tourism Economics (Tier 2, IF 0.83, CS 0.81)

Volume

23

Issue

6

First page number:

1321

Last page number:

1342

Abstract

We present new stylized facts on the underlying reasons of US hospitality and tourism firms’ fluctuating levels of financial leverage during the period 1990–2015 using comprehensive micro and macro-level accounting data overtime.

Keywords

book leverage, financial leverage, firm-specific factors, leverage proxies, macroeconomic indicators, market leverage

Language

eng

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