Corpus ID: 56231522

INVESTIGATING THE EFFECTS OF CORPORATE GOVERNANCE ON CREDIT RATINGS IN THE HOSPITALITY INDUSTRY

@inproceedings{Guo2015INVESTIGATINGTE,
  title={INVESTIGATING THE EFFECTS OF CORPORATE GOVERNANCE ON CREDIT RATINGS IN THE HOSPITALITY INDUSTRY},
  author={Ken H. Guo},
  year={2015}
}
Investment in hospitality firms is perceived to be riskier than investments in other types of industries. Based on literature linking good corporate governance to lower default risks and higher credit ratings, this quantitative study is designed to identify the effects of corporate governance on credit ratings in the hospitality industry. After exploring the various factors influencing the characteristics of corporate governance, as well as the specific risks for capital financing in… Expand

References

SHOWING 1-10 OF 42 REFERENCES
The Effect of Corporate Governance on Firm’s Credit Ratings: Further Evidence Using Governance Score in the United States
We investigate whether corporate governance affects firms’ credit ratings and whether improvement in corporate governance standards is associated with improvement in investment grade rating. We useExpand
Discussion of the effects of corporate governance on firms’ credit ratings
Abstract Ashbaugh-Skaife, Collins, and LaFond [2006. The effects of corporate governance on firms’ credit ratings. Journal of Accounting and Economics (this issue)] find that better governed firmsExpand
The Effects of Corporate Governance on Firms' Credit Ratings
TLDR
It is documented, after controlling for firm-specific risk characteristics, that credit ratings are negatively associated with the number of blockholders and CEO power, and positively related to takeover defenses, accrual quality, earnings timeliness, board independence, board stock ownership, and board expertise. Expand
A descriptive examination of corporate governance in the hospitality industry
Abstract The purpose of this descriptive study is to explore the nature and extent of corporate governance practices in the U.S. hospitality industry. The data were derived from three sources:Expand
Effect of Corporate Governance on Bond Ratings and Yields: The Role of Institutional Investors and Outside Directors
This paper provides evidence linking corporate governance mechanisms to higher bond ratings and lower bond yields. Governance mechanisms can reduce default risk by mitigating agency costs andExpand
Does good governance matter to debtholders? Evidence from the credit ratings of Japanese firms
Consistent with existing evidence based on US firms, we show that good governance is associated with higher credit ratings. The most significant variables are institutional ownership and disclosureExpand
Corporate Governance and Risk Taking
Better investor protection could lead corporations to undertake riskier but value-enhancing investments. For example, better investor protection mitigates the taking of private benefits leading toExpand
Can good corporate governance practices contribute to firms' financial performance? – evidence from Malaysian companies
This paper examines the impact of corporate governance practices and structures on the performance of firms in Malaysia. An empirical study was conducted based on data involving 120 Malaysian-listedExpand
Corporate Disclosure Quality and the Cost of Debt
This paper provides evidence that firms with high disclosure quality ratings from financial analysts enjoy a lower effective interest cost of issuing debt. This finding is consistent with theExpand
An examination of US hotel firms' risk features and their determinants of systematic risk
This study examined risk features of hotel firms and the determinants of their systematic risk. After reviewing the financial data for 31 US hotel firms from 2004 through 2008, we found that 86% ofExpand
...
1
2
3
4
5
...