Hotel owner / operator structures: implications for capital budgeting process

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Title Hotel owner / operator structures: implications for capital budgeting process
Author Guilding, Christopher John
Journal Name Management Accounting Research
Editor M Bromwich, R W Scapens
Year Published 2003
Place of publication United Kingdom
Publisher Academic Press
Abstract The findings of a field study concerned with appraising capital budgeting process implications arising from different owner/operator structures employed in the hotel industry are reported. Dimensions of conflict that can arise between hotel operators and owners are examined. Consistent with expectations motivated by agency theory, data collected suggest that capital budgeting systems in hotels operating under a divorced owner/operator structure exhibit more formalisation and a greater propensity for investment proposal cash forecast biasing. These findings suggest a degree of dysfunctionalism associated with the divorced/owner operator structure widely adopted in the hotel industry.
Peer Reviewed Yes
Published Yes
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Copyright Statement Copyright 2003 Elsevier. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Volume 14
Edition 2003
Page from 179
Page to 199
ISSN 1044-5005
Date Accessioned 2004-03-01
Language en_AU
Research Centre Griffith Institute For Tourism
Subject PRE2009-Management Accounting
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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