{"id":10009,"date":"2020-10-07T16:47:20","date_gmt":"2020-10-07T20:47:20","guid":{"rendered":"https:\/\/www.bu.edu\/hospitality\/?p=10009"},"modified":"2021-05-18T15:56:41","modified_gmt":"2021-05-18T19:56:41","slug":"postcrisis-reit-performance-using-financial-ratios-a-data-envelopment-analysis-approach-tourism-economics","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/hospitality\/2020\/10\/07\/postcrisis-reit-performance-using-financial-ratios-a-data-envelopment-analysis-approach-tourism-economics\/","title":{"rendered":"Postcrisis REIT performance using financial ratios: A Data Envelopment Analysis Approach Tourism Economics"},"content":{"rendered":"<div class=\"sectionInfo abstractSectionHeading\">\n<h4>By: <a href=\"https:\/\/www.bu.edu\/hospitality\/profile\/apostolos-ampountolas\/\">APOSTOLOS AMPOUNTOLAS, Ph.D.<\/a><\/h4>\n<figure id=\"attachment_10111\" aria-describedby=\"caption-attachment-10111\" style=\"width: 1210px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" src=\"\/hospitality\/files\/2021\/05\/Website-Images-1200x700-1.png\" alt=\"\" width=\"1200\" height=\"700\" class=\"wp-image-10111 size-full\" style=\"font-size: 16px;\" srcset=\"https:\/\/www.bu.edu\/hospitality\/files\/2021\/05\/Website-Images-1200x700-1.png 1200w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/05\/Website-Images-1200x700-1-636x371.png 636w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/05\/Website-Images-1200x700-1-1024x597.png 1024w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/05\/Website-Images-1200x700-1-768x448.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-10111\" class=\"wp-caption-text\">Photo by <a href=\"https:\/\/unsplash.com\/@jdent?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Jason Dent<\/a> on <a href=\"https:\/\/unsplash.com\/s\/photos\/real-estate?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Unsplash<\/a><\/figcaption><\/figure>\n<h3 class=\"sectionHeading\">Abstract<\/h3>\n<\/div>\n<div class=\"abstractSection abstractInFull\">\n<p><span>This study examines the performance of public lodging real estate investment trusts (REITs) following the financial crisis period from 2013 to 2017. We employed data envelopment analysis, a nonparametric technique based on linear programming, to measure performance. Determinants of efficiency were assessed by a set of financial ratios predicting each REIT\u2019s efficiency against its peers. Consequently, a Malmquist productivity index (MPI) evaluated the efficiency change in several periods. The empirical results revealed that the REITs generally performed well despite the moderate degree of volatility in the financial ratios. Results showed a wide variation in performance consistency, with a limited number of REITs\u2014that is, 5 out of 20\u2014consistently performing well during the study period. Additionally, the MPI indicated a decline in efficiency, while the productivity change showed a mixture of reflections. The decomposition components of the productivity index and efficiency changes are also provided. This study sheds light on understanding inefficient REITs and provides some guidance on the critical indicators that would help such REITs restructure their operational strategies to improve efficiency.<\/span><\/p>\n<p>Read More: <a href=\"https:\/\/journals.sagepub.com\/doi\/abs\/10.1177\/1354816620962664\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/journals.sagepub.com\/doi\/abs\/10.1177\/1354816620962664<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By: APOSTOLOS AMPOUNTOLAS, Ph.D. Abstract This study examines the performance of public lodging real estate investment trusts (REITs) following the financial crisis period from 2013 to 2017. We employed data envelopment analysis, a nonparametric technique based on linear programming, to measure performance. Determinants of efficiency were assessed by a set of financial ratios predicting each [&hellip;]<\/p>\n","protected":false},"author":18480,"featured_media":10111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[332,67,8],"tags":[72,71],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts\/10009"}],"collection":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/users\/18480"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/comments?post=10009"}],"version-history":[{"count":6,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts\/10009\/revisions"}],"predecessor-version":[{"id":10112,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts\/10009\/revisions\/10112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/media\/10111"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/media?parent=10009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/categories?post=10009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/tags?post=10009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}