Risk return and cost of equity of small and large casual-dining restaurants
|dc.identifier.citation||Madanoglu, M. and Erdem, M. and Gursoy, D. 2008. Risk return and cost of equity of small and large casual-dining restaurants. International Journal of Hospitality Management. 27 (1): pp. 109-118.|
Although the financial performance of US casual-dining restaurants has been better than returns in other restaurant segments, it is not known how large and small casual-dining restaurant companies perform when their stock returns are adjusted for risk. The present study uses traditional and contemporary risk-adjusted performance and cost of equity models to fill the void in this area of research. The results indicate that large casual-dining restaurants outperformed their smaller counterparts on a risk-adjusted basis, and had a lower cost of equity for the 1998-2002 period. In addition, the findings demonstrate that the cost of equity estimates pose some serious challenges when sub-periods before and after September 11 events are included in the analysis. © 2007 Elsevier Ltd. All rights reserved.
|dc.title||Risk return and cost of equity of small and large casual-dining restaurants|
|dcterms.source.title||International Journal of Hospitality Management|
|curtin.department||School of Marketing|
|curtin.accessStatus||Fulltext not available|
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