Financial Practices, Management Characteristics and Performance: A Study of SMEs in Hospitality Sector

International Seminar on Financial Markets: Issues and Challenges, 2011

1 Pages Posted: 3 Apr 2012

See all articles by P.M.B Jayathilake

P.M.B Jayathilake

Rajarata University of Sri Lanka - Department of Business Management

D.M.C.

affiliation not provided to SSRN

Date Written: January 1, 2011

Abstract

Tourism, as a major force in the post-war development strategy in Sri Lanka, creates more opportunities and challenges to different businesses in the industry. Small and medium hospitality firms play a significant role in the tourism industry and, therefore, this study aims to investigate the financial practices, management characteristics and business performance in those types of hotels. Data were collected using a structured questionnaire directing to owner managers of selected 100 firms. According to results, financial practices and the management characteristics are identified as significant determinants of firm’s performance. Further, results suggest that the necessity of the improvements in financial strategies since firms have shown that a poor attention on financial practices.

Keywords: financial practices, firm performance, owner manager, tourism

Suggested Citation

Jayathilake, Bandula and Dasanayake, Chaminda, Financial Practices, Management Characteristics and Performance: A Study of SMEs in Hospitality Sector (January 1, 2011). International Seminar on Financial Markets: Issues and Challenges, 2011, Available at SSRN: https://ssrn.com/abstract=2032515 or http://dx.doi.org/10.2139/ssrn.2032515

Bandula Jayathilake (Contact Author)

Rajarata University of Sri Lanka - Department of Business Management ( email )

Mihintale
Sri Lanka

Chaminda Dasanayake

affiliation not provided to SSRN ( email )

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
132
Abstract Views
527
rank
261,771
PlumX Metrics