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An examination of capital structure in the restaurant industry

Upneja, A.; Dalbor, M.C.

International Journal of Contemporary Hospitality Management 13(2): 54-59

2001


ISSN/ISBN: 0959-6119
DOI: 10.1080/10913211.2000.10653739
Accession: 003640954

The capital structure decisions of restaurant firms are examined. It is hypothesized that these decisions are based upon a financial "pecking-order" as well as the position of the firm in the financial growth cycle. Using ratios from publicly-traded restaurant firms in the USA and ordinary least squares regression models, the results tend to support the notion that both the pecking-order and the financial growth cycle influence financing decisions.

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