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The Impact of Macroeconomic Factors on the Hotel Industry Through the Financial Leverage Trends: The Portuguese Case
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Orientador(es)
Resumo(s)
This chapter aims to understand the historical trends of hotel industry financial leverage, and to
analyse the impact of macroeconomic factors on it. Therefore, managers can understand the
impact of cyclical factors on capital structure and can act in advance to minimize additional
costs or financial problems. Moreover, it intends to propose an analysis model to be used by
managers and shareholders to control the effect of financial leverage over their companies.
This analysis model can help managers to know the impact of the chosen financing sources on
shareholders’ return and whether there is a change in the financial leverage effect. Results
highlight that the perception of financial leverage by hotel managers is crucial in crisis
situations, such as pandemics and natural disasters, which demands new challenges to
companies.
Descrição
Palavras-chave
Hospitality companies Capital structure Financial leverage Financing decisions Shareholders’ return Recession period Tourism Portugal
Contexto Educativo
Citação
Santos, L., Gomes, C. & Lisboa, I. (2021). The Impact of Macroeconomic Factors on the Hotel Industry Through the Financial Leverage Trends: The Portuguese Case (chapter 6). Handbook of Research onFinancial Management During Economic Downturn and Recovery, IGI Global. DOI: 10.4018/978-1-7998-6643-5.ch006
Editora
IGI Global