The Effect Of Geographic Dispersion On The Initial And Long-Run IPO Performance

Özdemir, Özcan

doi:10.1177/1096348014563395

Cited by 5 publications

(1 citation statement)

References 74 publications

(174 reference statements)

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“…Locational diversification can enhance revenue performance for a broader market segment coverage and proximity of places of interest (Ozdemir, 2017; Song, Park, & Lee, 2017). Travelers’ location preference being individually specific, geographically diversified accommodations could better cater to their needs in different market segments.…”

Section: Literature and Hypothesesmentioning

confidence: 99%

Locational Strategy of Professional Hosts: Effect on Perceived Quality and Revenue Performance of Airbnb Listings

Mao

2019

Journal of Hospitality & Tourism Research

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Professional hosts usually invest in properties at various locations. Our study aims to investigate the effect of their locational strategy (clustering vs. diversification) on the perceived quality and revenue performance of each listing in their portfolio. Using data of Airbnb in New York City, we find that locational clustering drives the perceived quality but undermines the revenue performance of each listing, and these effects are further moderated by the size of the listing portfolio managed by a professional host. Implications for Airbnb investment using effective locational strategy are provided.

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Section: Literature and Hypothesesmentioning

confidence: 99%

Locational Strategy of Professional Hosts: Effect on Perceived Quality and Revenue Performance of Airbnb Listings

Mao

2019

Journal of Hospitality & Tourism Research

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Geographical Dispersion and Investment Efficiency

Wang

Liu

Pan

et al. 2021

Emerging Markets Finance and Trade

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Restaurant firms’ IPO motivations and post-IPO performances

Mun

Jang

2019

IJCHM

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Purpose This study aims to identify why restaurant firms go public (IPO) despite high financing costs and which factors make firms stay public for the long term after an IPO. Also, this study aimed to link and compare restaurant firms’ pre- and post-IPO accounting information and how IPO proceeds were used. Design/methodology/approach This study used random-effects regression analysis with a number of dependent variables for a sample of 1,347 unbalanced panel data. In addition, logistic regression analyses were used to identify why restaurant firms were delisted within short periods after going public. Findings First, rebalancing financial structures was the most important reason for IPOs, whereas financing future growth was only a minor motivation. Second, post-IPO performance significantly differed between restaurant firms based on their pre-IPO financial conditions, as well as how they used IPO proceeds. Third, restaurant firms with low profitability, inefficient non-operating expenses and difficulties in generating revenue increased their financial burdens, which ultimately caused restaurant firms to be delisted within a short period after an IPO. Furthermore, the reasons for merging included cash shortages, large short-term liabilities and increased major operating expenses, together with increases in capital expenditures. Originality/value This study is unique, in that it explains the relationships between motivations for going public and post-IPO performances by directly linking the usages of IPO proceeds with firms’ operational performances. To the best of the authors’ knowledge, this study is the first to examine the effects of IPOs on restaurant firms’ operational, non-operational, investment and financial activities on firms’ performances.

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The Effect Of Geographic Dispersion On The Initial And Long-Run IPO Performance

Cited by 5 publications

References 74 publications

Locational Strategy of Professional Hosts: Effect on Perceived Quality and Revenue Performance of Airbnb Listings

Locational Strategy of Professional Hosts: Effect on Perceived Quality and Revenue Performance of Airbnb Listings

Geographical Dispersion and Investment Efficiency

Restaurant firms’ IPO motivations and post-IPO performances

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