초록 열기/닫기 버튼
The purpose of study is to identify the causes of the corporate financial distress and provide a distress prediction model in the tourist hotel industry. We defined the hotel companies with distress events between 2000 and 2007 to differentiate the distressed from the non-distressed. The analysis of this study was organized in two steps. The first step explained the prediction power of individual financial ratios with t-test. The financial ratios used in the logistic regression model were selected by backward elimination method. The second step established the distress prediction model with the logistic regression model. The results were as follows. First, the stability was the most important. Second, the profitability and the growth was important. In light of these results, liabilities from the financial institutions were found to make the major negative impact on the profitability and the growth and take disadvantage of their investment opportunities for tourist hotels.
키워드열기/닫기 버튼
Tourist Hotel Industry, Distress Prediction Model, Financial Ratio, Logistic Regression Analysis
