Financial features of dividend-paying firms in the hospitality industry: A logistic regression analysis |
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Authors: | Hyunjoon Kim Zheng Gu |
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Institution: | 1. College of Business Administration, Dong-A University, 840 Hadan2-Dong, Saha-Gu, Busan, Republic of Korea;2. College of Hotel Administration, University of Nevada, Las Vegas, 4505 Maryland Parkway, Las Vegas, NV 89154, USA |
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Abstract: | The purpose of this study was to identify the financial features that distinguish dividend-paying firms from non-dividend-paying companies in the U.S. hospitality industry. The logistic regression model shows that firm size and profitability are significant drivers of dividend payout, whereas investment opportunities deter dividend payout. In the U.S. hospitality industry, larger hospitality firms with higher profitability but fewer investment opportunities are more likely to pay out dividends to their shareholders. |
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Keywords: | Dividend payout Hospitality firms Logistic regression Firm size Profitability Investment opportunities |
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