Toward a resolution of the cost of equity conundrum in the lodging industry: a conceptual framework
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 sh...
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| Veröffentlicht in: | International journal of hospitality management 2005-12, Vol.24 (4), p.493-515 |
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| container_start_page | 493 |
| container_title | International journal of hospitality management |
| container_volume | 24 |
| creator | Madanoglu, Melih Olsen, Michael D. |
| description | 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. |
| doi_str_mv | 10.1016/j.ijhm.2004.10.007 |
| format | Article |
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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. 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| fulltext | fulltext |
| identifier | ISSN: 0278-4319 |
| ispartof | International journal of hospitality management, 2005-12, Vol.24 (4), p.493-515 |
| issn | 0278-4319 1873-4693 |
| language | eng |
| recordid | cdi_pubmedcentral_primary_oai_pubmedcentral_nih_gov_7117031 |
| source | Elsevier ScienceDirect Journals |
| subjects | Cost of capital Firm valuation Intangibles Lodging industry |
| title | Toward a resolution of the cost of equity conundrum in the lodging industry: a conceptual framework |
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