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

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        Manuscript_final_draft_e.pdf (PDF, 552Kb)(embargoed until 13/06/2024)
        Author
        Chambers, Nurgul
        Cifter, Atilla
        Attention
        2299/25323
        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.
        Publication date
        2022-04-01
        Published in
        International Journal of Hospitality Management
        Published version
        https://doi.org/10.1016/j.ijhm.2022.103144
        Other links
        http://hdl.handle.net/2299/25323
        Relations
        Hertfordshire Business School
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