Research Article
Dipendra Singh and Katerina
Abstract
Impact of Credit Fluctuations on Risk and Liquidity: An Analysis of Private U.S. Lodging Firms, Sustainable Tourism Capital structure composition of business firms is considered critical for the overall success of firms. Private lodging firms in the industry demand an even deeper focus on these decisions for the nature of this industry and composition of their businesses. This study empirically investigates the effect of credit availability on the leverage of large and small private lodging firms in the United States using multivariate analysis of variance (MANOVA). Study utilizes Case-Schiller home price index to identify the two time points of differing credit availability to businesses in U.S. Leverage and Cash-to-Total Assets Ratio of large and small U.S. lodging firms were analyzed at these differing credit availability time points to assess any significant differences.