Show simple item record

dc.contributor.authorJung, Sangwonen_US
dc.contributor.authorJang, SooCheongen_US
dc.date.accessioned2021-11-29T20:44:00Z
dc.date.available2021-11-29T20:44:00Z
dc.date.issued2020-10
dc.identifier.citationS.S. Jung, S.S. Jang. 2020. "Have restaurant firms been using right recession turnaround strategies?: Evaluating with propensity score measure." International Journal of Hospitality Management, Volume 91, pp. 102651 - 102651. https://doi.org/10.1016/j.ijhm.2020.102651
dc.identifier.issn0278-4319
dc.identifier.urihttps://hdl.handle.net/2144/43420
dc.description.abstractAmong the diverse strategies that restaurants use in recessions, some studies have shown that strategies that increase advertising, profit margins, or asset turnover have yielded promising results in terms of firm performance. However, the success of these turnaround strategies might be due to the health or size of a firm rather than the implementation of these strategies. Therefore, this study empirically tested this question utilizing the propensity score measure (PSM) due to concerns with selection bias across restaurant segments. The results showed significant improvements in revenue for limited-service and franchise restaurants when aggressive advertising was used but no improvements in profitability. The profit margin strategy had no impact on revenue but affected profitability and stock returns positively for all segments. Finally, the asset turnover strategy had adverse effects on revenue the year after a recession for all segments. These mixed results suggest that managers need to be cautious when implementing recession turnaround strategies.en_US
dc.format.extent102651 - 102651en_US
dc.languageen
dc.language.isoen_US
dc.publisherElsevier BVen_US
dc.relation.ispartofInternational Journal of Hospitality Management
dc.rights© 2020 Elsevier Ltd. Published by Elsevier B.V. The accepted manuscript version of this work is made available under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International license.en_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0
dc.subjectEconomic recessionen_US
dc.subjectPropensity score measureen_US
dc.subjectAdvertisementen_US
dc.subjectProfit marginen_US
dc.subjectAsset turnoveren_US
dc.titleHave restaurant firms been using right recession turnaround strategies?: Evaluating with propensity score measureen_US
dc.typeArticleen_US
dc.description.versionAccepted manuscripten_US
dc.identifier.doi10.1016/j.ijhm.2020.102651
pubs.elements-sourcecrossrefen_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, School of Hospitality Administrationen_US
pubs.publication-statusPublisheden_US
dc.identifier.mycv575961


This item appears in the following Collection(s)

Show simple item record

© 2020 Elsevier Ltd. Published by Elsevier B.V. The accepted manuscript version of this work is made available under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International license.
Except where otherwise noted, this item's license is described as © 2020 Elsevier Ltd. Published by Elsevier B.V. The accepted manuscript version of this work is made available under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International license.