University of Hertfordshire

Working capital management and firm performance in the hospitality and tourism industry

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Working capital management and firm performance in the hospitality and tourism industry. / Chambers, Nurgul; Cifter, Atilla.

In: International Journal of Hospitality Management, Vol. 102, 103144, 01.04.2022.

Research output: Contribution to journalArticlepeer-review

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@article{d24c3e9fffe042e8b540e58a242a12d8,
title = "Working capital management and firm performance in the hospitality and tourism industry",
abstract = "The aim of this study is to provide empirical evidence concerning the effects of working capital on firm performance in the hospitality and tourism industry. We identify an inverted U-shaped relationship between working capital and firm performance. More specifically, the U-shaped relationship exists for accommodation, food and travel firms. In contrast, a positive linear relationship is valid for sport firms while changes in working capital have no effect on performance for gambling firms. To the best of our knowledge, this study is the first empirical research study to extend cross-country analysis in respect of sub-hospitality and tourism industries to a worldwide context. The findings suggest that hospitality and tourism managers should consider the diversity of relationships between working capital and firm performance in sub-hospitality and tourism industries when deciding on an appropriate strategy for working capital management.",
keywords = "Hospitality and tourism industry, Panel data analysis, Performance, Working capital management",
author = "Nurgul Chambers and Atilla Cifter",
note = "{\textcopyright} 2022 Elsevier Ltd. All rights reserved. This is the accepted manuscript version of an article which has been published in final form at https://doi.org/10.1016/j.ijhm.2022.103144",
year = "2022",
month = apr,
day = "1",
doi = "10.1016/j.ijhm.2022.103144",
language = "English",
volume = "102",
journal = "International Journal of Hospitality Management",
issn = "0278-4319",
publisher = "Elsevier Limited",

}

RIS

TY - JOUR

T1 - Working capital management and firm performance in the hospitality and tourism industry

AU - Chambers, Nurgul

AU - Cifter, Atilla

N1 - © 2022 Elsevier Ltd. All rights reserved. This is the accepted manuscript version of an article which has been published in final form at https://doi.org/10.1016/j.ijhm.2022.103144

PY - 2022/4/1

Y1 - 2022/4/1

N2 - The aim of this study is to provide empirical evidence concerning the effects of working capital on firm performance in the hospitality and tourism industry. We identify an inverted U-shaped relationship between working capital and firm performance. More specifically, the U-shaped relationship exists for accommodation, food and travel firms. In contrast, a positive linear relationship is valid for sport firms while changes in working capital have no effect on performance for gambling firms. To the best of our knowledge, this study is the first empirical research study to extend cross-country analysis in respect of sub-hospitality and tourism industries to a worldwide context. The findings suggest that hospitality and tourism managers should consider the diversity of relationships between working capital and firm performance in sub-hospitality and tourism industries when deciding on an appropriate strategy for working capital management.

AB - The aim of this study is to provide empirical evidence concerning the effects of working capital on firm performance in the hospitality and tourism industry. We identify an inverted U-shaped relationship between working capital and firm performance. More specifically, the U-shaped relationship exists for accommodation, food and travel firms. In contrast, a positive linear relationship is valid for sport firms while changes in working capital have no effect on performance for gambling firms. To the best of our knowledge, this study is the first empirical research study to extend cross-country analysis in respect of sub-hospitality and tourism industries to a worldwide context. The findings suggest that hospitality and tourism managers should consider the diversity of relationships between working capital and firm performance in sub-hospitality and tourism industries when deciding on an appropriate strategy for working capital management.

KW - Hospitality and tourism industry

KW - Panel data analysis

KW - Performance

KW - Working capital management

UR - http://www.scopus.com/inward/record.url?scp=85122629465&partnerID=8YFLogxK

U2 - 10.1016/j.ijhm.2022.103144

DO - 10.1016/j.ijhm.2022.103144

M3 - Article

VL - 102

JO - International Journal of Hospitality Management

JF - International Journal of Hospitality Management

SN - 0278-4319

M1 - 103144

ER -