Browsing by Author "Penela, Daniela"
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- An analytical inquiry on timeshare research: A continuously growing segment in the hospitality industryPublication . Penela, Daniela; Morais, Ana; Gregory, AmyThis study provides an inquiry on research conducted on timeshare, through a collection of 133 academic papers from 69 journals, and 121 theses and dissertations from 29 countries. The results indicate an increasing trend in timeshare research, with 67% of papers published since 2000, and 37% of theses and dissertations in the last decade. The main contributors are Rosen College of Hospitality and Management, on the top for publication of academic papers, and University of Nevada, on first place for timeshare-related theses and dissertations. This firstever far-reaching collection of literature allows the identification of key scholars and universities, and opens opportunities for exchange and cooperation within researchers to advance this body of literature. Finally, the contributions of this paper are not confined to timeshare research, as it draws attention to the importance of theses and dissertations, as a source of information that scholars are not using as much as they can.
- Is timeshare good for firm value and profitability? Evidence from segment reportingPublication . Penela, Daniela; Morais, Ana; Gregory, AmyPurpose: This study aims to take advantage of segment reporting to provide empirical evidence on the impacts of increasing the share of revenue generated from the timeshare segment in companies’ portfolios for firm value and profitability. Design/methodology/approach: This paper examines data from five publicity traded hospitality companies that have a timeshare component and carries out different regression analysis using 69 observations ranging from 1998 to 2016. Findings: The findings support the idea of an inverted U-shaped relationship between the degree of timeshare business (DOT) and firm value and profitability. However, for positive values of DOT, an increase of DOT consistently has a negative impact on firm value and accounting profitability. Research limitations/implications: This study adds to previous findings through the addition of new variables and contemporary accounting practices. Though sufficient for the analyses conducted, the limited number of observations raises generalizability issues. Further research with larger data sets is advised. Practical implications: This study implies that timeshare may continue to grow, but not as a segment in the lodging sector; rather as an industry mainly composed of timeshare-dedicated companies. As firms consider diversification or consolidation, this study may inform decisions related to potential firm value. Originality/value: This study provides evidence to support previous literature related to spin-off activity in the lodging sector. Perhaps more importantly, this study adds value to research on firm value and profitability by extending traditional models and by developing a new “degree of business” variable using segment reporting.
- The effect of IFRS adoption on the business climate: A country perspectivePublication . Penela, Daniela; Estevão, João; Morais, AnaAbstract: Based on the ten areas that are measured by the ease of doing business (EDB) and based on the getting credit (GC) indicator, this study seeks to analyze factors that lead to a more favor able business climate in different countries. The methodology of fuzzy set qualitative comparative analysis (fsQCA) was used to determine the paths taken by configurations or conditions in which variables affect an outcome. The results showed that high EDB and GC scores may be obtained un der specified levels of IFRS (International Financial Reporting Standards) adoption degree and user experience requirements. Therefore, the adoption of IFRS could result in a better business climate in a nation since it would increase the comparability of financial statements, which will lower costs for investors, draw in foreign investors, and boost trust. Finally, the findings indicated that, depending on the presence of specific levels of GDP per capita, entrepreneurship, income group, and foreign direct investment (FDI) inflows, low or high values of IFRS adoption and high experience in applying IFRS are necessary to achieve high GC scores.