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Title: Testing and developing the environment risk construct in hospitality strategy research
Authors: Koyatan Chathoth, P
Olsen, M
Keywords: Remote environment
Environment risk
Corporate strategy
Capital structure
Firm performance
Economic risk
Business risk
Market risk
Growth strategies
Return on equity
Free cash flow per share
Issue Date: 2005
Publisher: SAGE Publications
Source: Journal of hospitality and tourism research, 2005, v. 29, no. 3, p. 312-340 How to cite?
Journal: Journal of hospitality and tourism research 
Abstract: The study of environment risk as a construct in strategy research has been mostly conducted in the context of events that occur in the environment of enterprises. Moreover, prior studies in hospitality strategy research have captured managers'perceptions of their environment and its impact on firm business strategy, organizational structure, and performance. In this study, the authors develop an approach to model environment events by measuring the risk factors using indicators of a ratio scale and by testing the risk effects on the firm vis-à-vis corporate strategies, capital structure, and performance. The dimensions of the environment risk construct and their measures are developed and then tested with regard to their relationship to the performance of the firm. The results of this research suggest that proxies of environment risk account for a significant variation in the firm's strategy and its performance.
ISSN: 1096-3480
EISSN: 1557-7554
DOI: 10.1177/1096348005276495
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