id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-286274-1tb3uha2	Chen, Ming-Hsiang	The economy, tourism growth and corporate performance in the Taiwanese hotel industry	2009-08-18		.txt	text/plain	8663	445	52	The indicators of corporate performance under consideration are occupancy rate (OPR), return on assets (ROA), return on equity (ROE), stock return, and the overall financial performance measured by a comprehensive score (a combined measure of asset management, profitability, short-term solvency or liquidity and long-term solvency based on factor analysis). The effects of changes in the state of economy (real GDP growth rate, [Formula: see text]) and tourism growth (growth rate of total foreign tourist arrivals, [Formula: see text]) on the corporate performance of tourist hotels are then examined via panel regression tests. In consequence, this study enables us to evaluate the impact of economic condition and tourism expansion on the corporate performance of tourist hotels in terms of not only their sales revenue, profitability and stock performance but also the overall financial performance. The dummy variables of crisis events are incorporated into test regressions to control for their potential effects on interactions between the corporate performance of hotel firms and the two factors (economy and tourism growth).	./cache/cord-286274-1tb3uha2.txt	./txt/cord-286274-1tb3uha2.txt