An examination of cost management behavior in small restaurant firms

The Business Model and Firm Performance: The Case of Russian Food Service Ventures

“…The overwhelming majority of companies in the food service sphere are small or medium‐size companies operating in the first four steps of company development (survival, breaking even, self‐financing, and stable growth) according to the approach proposed by Volkov (), which makes the application of traditional accounting indicators of economic effects and effectiveness appropriate. Among the existing indicators, we used the return on total assets (ROTA), return on sales (ROS), and return on equity (ROE), which have been employed in other research involving the food service industry (Chathoth and Olsen ; Kim, Dalbor, and Feinstein ; Tse ). The importance of effective management of company resources in high turnover firms (Surlemont et al.…”

“…Food service represents an industry that lends itself to identification of key business characteristics that apply fairly universally. In addition, the majority of companies operating in this industry are small and medium‐sized firms (Kim, Dalbor, and Feinstein ), and companies demonstrating relatively low diversification of business activities compared with many other industries. This characteristic, along with the traditional nature of the value chain, suggest that the majority of companies conduct activities within a clearly identifiable, relatively unchanging business model, which creates the opportunity to analyze its influence over a longer period of time.…”

Ownership structure and firm performance of listed tourism firms

“…It is generally argued that ownership structure is a governance mechanism related to the conflict of interests between principals (owners) and agents (managers), which has implications for firm performance (Claessens et al, ; Fama & Jensen, ; Jensen & Meckling, ; Shleifer & Vishny, ). Some tourism studies have recognized the importance of ownership structure for firm performance (Kim, Balbor, & Feinstein, ; Madanoglu & Karadag, ; Park & Jang, ; Tsai, Pan, & Lee, ). In tourism firms, shareholders own ultimate ownership.…”

Family Ownership, Asset Levels, and Firm Performance in Western European Hospitality Companies

“…They further suggest that institutional shareholders prefer companies displaying a low leverage, good performance and larger size. Similarly, Kim et al (2007) find that for U.S. restaurants profit margins are positively influenced by ownership structures while 2 Studies outside the hospitality industry report diverging relations between firm performance and ownership structure. These notably include articles by Anderson and Reeb (2003), Fahlenbrach (2009), King and Santor (2008), Pérez-González (2006) or Villalonga and Amit (2006) in North America; Bertrand et al (2002), Carney and Child (2013) or Claessens et al (2000) in Asian countries and Andres (2008), Barontini and Caprio (2006), Maury (2006), Sraer and Thesmar (2007) or Thomsen and Pedersen (2000) in Europe.…”