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Impact of leverage on financial information quality: International evidence from the hospitality industry

Author

Listed:
  • Cédric Poretti
  • Alain Schatt
  • Tiphaine Jerome

    (CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes)

Abstract

Earnings are a key firm-performance yardstick for investors. The quality of earnings has fascinated researchers and investors alike, as it may be manipulated by a firm's management. This paper studies the relationship between earnings quality and debt levels of firms in the hospitality sector, using a sample of 642 firms from 26 countries for the 2002-2016 period. Results of this study suggests a generally positive relationship between a firm's leverage and its earnings quality in the hospitality sector, particularly for firms incorporated in countries with stronger investor protection. As such, some interesting implications of the leverage-earnings quality relationship are revealed for investors, lenders, and professionals in the hospitality industry.

Suggested Citation

  • Cédric Poretti & Alain Schatt & Tiphaine Jerome, 2020. "Impact of leverage on financial information quality: International evidence from the hospitality industry," Post-Print hal-04536821, HAL.
    • Handle: RePEc:hal:journl:hal-04536821
    DOI: 10.7275/bp3n-mw53
    as

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