Investment inefficiency in the hospitality industry: The role of economic policy uncertainty

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F23%3A63562558" target="_blank" >RIV/70883521:28120/23:63562558 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S1447677023000062" target="_blank" >https://www.sciencedirect.com/science/article/pii/S1447677023000062</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jhtm.2023.01.006" target="_blank" >10.1016/j.jhtm.2023.01.006</a>

Result language
angličtina
Original language name
Investment inefficiency in the hospitality industry: The role of economic policy uncertainty
Original language description
Corporate investment inefficiency in the hospitality industry is an understudied topic. In this paper, we examine the effect of Economic Policy Uncertainty (EPU) on the investment inefficiency of a sample of 213 hospitality firms in the U.S. for the period 2010–2019. The results reveal that a rise in economic policy uncertainty leads to an increase in firm-level investment inefficiency in the hospitality industry. The underinvestment and the overinvestment problems are exacerbated by uncertainty. The results are robust for different variables specification and econometric techniques. Policy implications are also provided.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50204 - Business and management

Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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