An Investigation of Long-term Debt and Firm Value in the Lodging Industry

Michael C. Dalbor, Seoki Lee, Arun Upneja

Research output: Chapter in Book/Report/Conference proceedingChapter

9 Scopus citations


The purpose of this paper is to explore the impact of long-term debt and firm value in the lodging industry. Previous research on capital structure in the lodging industry has been conducted in an attempt to understand what motivates the use of debt. We explore this further by assessing whether or not this debt use translates into increases in firm value. The regression analysis shows that after controlling for size and risk, we find a positive relationship with long-term debt and the value of the firm. Return on assets is negatively related to firm value, but capital expenditures are not.

Original languageEnglish (US)
Title of host publicationAdvances in Hospitality and Leisure
EditorsJoseph Chen
Number of pages10
StatePublished - 2007

Publication series

NameAdvances in Hospitality and Leisure
ISSN (Print)1745-3542

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Tourism, Leisure and Hospitality Management


Dive into the research topics of 'An Investigation of Long-term Debt and Firm Value in the Lodging Industry'. Together they form a unique fingerprint.

Cite this