Abstract:The paper seeks to extend Biger, Nguyen, and Hoang' (2008) findings regarding the determinants of capital structure. Empirical results show that that leverage is negatively related to the firm's profitability. This paper offers useful insights for the service industry owner/operators and managers based on empirical evidence.

Purpose -The purpose of this paper is to examine the relationship between transformational leadership (TL) and employee desire for empowerment (EDFE). This study also aims to extend Gill and Mathur's findings regarding improving employee dedication and pro-social behavior. Design/methodology/approach -Hospitality industry employees from Canada and India were surveyed to test the relationship between TL and EDFE in countries that differ substantially in their levels of cultural power distance. Findings -Results suggest that the improvement in the degree of EDFE is positively related to the improvement in the degree of perceived TL implementation in the hospitality industry in both countries. However, substantial differences in relative impact were observed between restaurant (high in both countries) and hotel/motel workers (low in Canada, high in India). In addition to cultural power distance, levels of TL and EDFE were significantly lower in India than in Canada, and levels of TL were significantly lower among restaurant workers than among hotel/motel workers. Practical implications -Managers who exhibit TL behaviors are more likely to heighten their employees' desire to be empowered, regardless of cultural context. Originality/value -The findings help to explain failures in organizational efforts to empower workers by demonstrating the critical role of TL behaviors in heightening EDFE.

This study examines the relationship between corporate performance and the CEO compensation. Data were collected from www.sedar.com [the official site that provides access to most public securities documents and information filed by public companies and investment funds with the Canadian Securities Administrators (CSA) in the SEDAR filing system], www.sec.gov/edgar.shtml, and www.hoovers.com to examine the relationship between corporate performance and the CEO compensation. Results suggest that CEO compensation is the function of net profit margin. This paper offers useful insights for the service industry owner/operators based on empirical evidence.

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