Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9734294 | International Journal of Hospitality Management | 2005 | 23 Pages |
Abstract
The firm value estimate is derived from accounting and finance practices that focus on physical assets as opposed to intangible assets (Arthur Andersen Hospitality Leisure Executive Rep. 5 (1998) 2). The cost of equity estimation models used in firm valuation and capital investment decisions fall short of tapping important constructs to firm value, especially the intangible ones. The purpose of this study is to assess the present cost of equity capital determination models and provide a view of their relevancy for the lodging industry while simultaneously attempting to propose new options to meet the valuation and capital budgeting needs of the lodging industry.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Strategy and Management
Authors
Melih Madanoglu, Michael D. Olsen,