دورية أكاديمية
COVID-19 Shock, Financial Flexibility, and Hotels' Performance Nexus.
| العنوان: | COVID-19 Shock, Financial Flexibility, and Hotels' Performance Nexus. |
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| المؤلفون: | Zhang X; School of Economics and Management, Inner Mongolia University of Technology, Huhhot, China., Chang BG; Department of Accounting, Tamkang University, New Taipei City, Taiwan., Wu KS; Department of Business Administration, Tamkang University, New Taipei City, Taiwan. |
| المصدر: | Frontiers in public health [Front Public Health] 2022 Apr 18; Vol. 10, pp. 792946. Date of Electronic Publication: 2022 Apr 18 (Print Publication: 2022). |
| نوع المنشور: | Journal Article; Research Support, Non-U.S. Gov't |
| اللغة: | English |
| بيانات الدورية: | Publisher: Frontiers Editorial Office Country of Publication: Switzerland NLM ID: 101616579 Publication Model: eCollection Cited Medium: Internet ISSN: 2296-2565 (Electronic) Linking ISSN: 22962565 NLM ISO Abbreviation: Front Public Health Subsets: MEDLINE |
| أسماء مطبوعة: | Original Publication: Lausanne : Frontiers Editorial Office |
| مواضيع طبية MeSH: | COVID-19*/epidemiology, Humans ; Industry ; Pandemics ; Taiwan/epidemiology |
| مستخلص: | This study investigates the nexus of coronavirus disease 2019 (COVID-19) shock, financial flexibility (FF), and firm performance (FP) in Taiwan listed hotel firms. Quantile regression (QR) methods were used to analyze the data from Taiwan Stock Exchange listed hotel firms between 2020 Q1 and 2021 Q2. The results evidence that there is an inversed U-shaped linkage between FF and FP for the hotel industry. Additionally, FF has an inverted U-shaped effect on FP for the asset-light hotel firms for all quantiles except the 50th quantile. In addition, FF also has an inverted U-shaped impact on FP for the asset-heavy hotel firms in the 10th and 90th quantiles. A significant finding in this study is that there is a concave non-linear relationship between FF and FP, consistent with the law of diminishing marginal return. That is, with an increase in FF, the FP is on the rise; when FF exceeds the inflection point level, the FP begins to decline. Thus, a firm must ensure that the FF strategy it adopts must be the most efficient and effective, i.e., it must bring the trade-off between costs and benefits. The empirical results highlight the need for the hotel industry of Taiwan to take the rolling adjustment and optimization of FF after the COVID-19 pandemic for long-term sustainability. Competing Interests: The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest. (Copyright © 2022 Zhang, Chang and Wu.) |
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| فهرسة مساهمة: | Keywords: COVID-19; financial flexibility; firm performance; hotel industry; quantile regression |
| تواريخ الأحداث: | Date Created: 20220505 Date Completed: 20220506 Latest Revision: 20230916 |
| رمز التحديث: | 20231215 |
| مُعرف محوري في PubMed: | PMC9058111 |
| DOI: | 10.3389/fpubh.2022.792946 |
| PMID: | 35509510 |
| قاعدة البيانات: | MEDLINE |
Full Text Finder | تدمد: | 2296-2565 |
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| DOI: | 10.3389/fpubh.2022.792946 |