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After exploring the various factors influencing the characteristics of corporate governance, as well as the specific risks for capital financing in hospitality firms, this research provides empirical evidence to show that hospitality firms with stronger shareholder influence tend to have higher credit ratings. In a related finding, this investigation confirms that hospitality stakeholders are able to evaluate their potential risks by determining a firm's credit ratings and can protect their long-term interest by increasing their power versus management in the corporate governance of the firm.","abstract_html":"Investment in hospitality firms is perceived to be riskier than investments in other types of industries. Based on literature linking good corporate governance to lower default risks and higher credit ratings, this quantitative study is designed to identify the effects of corporate governance on credit ratings in the hospitality industry. After exploring the various factors influencing the characteristics of corporate governance, as well as the specific risks for capital financing in hospitality firms, this research provides empirical evidence to show that hospitality firms with stronger shareholder influence tend to have higher credit ratings. In a related finding, this investigation confirms that hospitality stakeholders are able to evaluate their potential risks by determining a firm's credit ratings and can protect their long-term interest by increasing their power versus management in the corporate governance of the firm.","abstract_has_math":false,"creators":["Guo, Keni"],"institution":"Virginia Tech","degree_name":"Master of Science","degree_level":"masters","degree_discipline":"Hospitality and Tourism Management","degree_department":"Hospitality and Tourism Management","school":null,"contributors":[],"advisors":[],"committee_chairs":["Singal, Manisha"],"committee_members":["Xiang, Zheng","Magnini, Vincent Paul"],"year":2015,"date_issued":"2015-06-19","date_published":"2015-06-19","updated_at":"2026-07-22T22:18:46Z","subjects":["Corporate Governance","Credit Ratings","Debt Financing","Agency Cost"],"languages":[],"rights":["In Copyright"],"rights_urls":["http://rightsstatements.org/vocab/InC/1.0/"],"identifier_entries":[{"key":"dc:identifier.other","label":"Dc Identifier Other","values":["vt_gsexam:5542"],"render_values":[{"text":"vt_gsexam:5542","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/10919/73655","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.committeechair","label":"Committee Chair","values":["Singal, Manisha"]},{"key":"dc:contributor.committeemember","label":"Committee Member","values":["Xiang, Zheng","Magnini, Vincent Paul"]},{"key":"dc:contributor.department","label":"Department","values":["Hospitality and Tourism Management"]},{"key":"dc:creator","label":"Author","values":["Guo, Keni"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2016-12-11T07:00:15Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2016-12-11T07:00:15Z"]},{"key":"dc:date.issued","label":"Date","values":["2015-06-19"]},{"key":"dc:publisher","label":"Institution","values":["Virginia Tech"]},{"key":"dc:type","label":"Dc Type","values":["Thesis"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Hospitality and Tourism Management"]},{"key":"thesis:degree_level","label":"Degree Level","values":["masters"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Master of Science"]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["Virginia Polytechnic Institute and State University"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Corporate Governance","Credit Ratings","Debt Financing","Agency Cost"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:rights","label":"Dc Rights","values":["In Copyright"]},{"key":"dc:rights.uri","label":"Rights URI","values":["http://rightsstatements.org/vocab/InC/1.0/"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.other","label":"Dc Identifier Other","values":["vt_gsexam:5542"]},{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/10919/73655"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["Investment in hospitality firms is perceived to be riskier than investments in other types of industries. 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