The relationship between managerial holdings and performance: An empirical study on the restaurant industry

The relationship between managerial stock holdings and performance, measured by profitability, operating efficiency, and stock return, was examined for the publicly traded restaurant companies during the period of 1995-1996. Additionally, the study investigated whether the degree of association between managerial ownership and performance, as measured by the same variables, differs across three groups identified by the range of managerial ownership; The empirical results support that managerial ownership has a positive impact on most of the performance variables (i.e. operating efficiency and profitability). Firm size, a control variable, was also found to be significantly associated with profitability, operating efficiency, and stock return. The impact of managerial ownership on performance variables was most evident in the group with 0%-15% managerial ownership. This results suggest that large restaurant firms with relatively low managerial ownership may utilize equity ownership most effectively as a managerial incentive to improve performance.

Name thesis:degree_name

Master of Science (MS)

Level thesis:degree_level

Thesis

Discipline thesis:degree_discipline

Hotel Administration

Grantor dc:publisher

University of Nevada, Las Vegas

Year

1998

Author dc:creator

• Kim, Young Kwi

Contributors dc:contributor

• Zheng Gu

Statement dc:rights

• IN COPYRIGHT. For more information about this rights statement, please visit http://rightsstatements.org/vocab/InC/1.0/

Identifier

https://oasis.library.unlv.edu/rtds/842

OAI identifier oai:identifier

oai:oasis.library.unlv.edu:rtds-1841