探討影響台灣國際觀光旅館財務績效之因素

Abstract

本篇研究在探討各個因素對旅館財務績效之影響，研究對象針對台灣46間國際觀觀旅館2002年至2011年的財務指標作分析，並採用旅客國籍、旅館營運年限、所在位置、住房率、經營方式、及與國際機場距離等因素作探討。在研究方法部分，首先，利用單根檢定來確認所分析的資料為定態；接著，進行移動平均迴歸以及考慮異質變異下的縱橫面回歸去做分析，並用LM檢定以及Hausman檢定去檢測本研究所採用之模型。研究結果指出依旅客國籍來看，國內旅客對於旅館的財務績效有顯著且正向的影響存在；而旅館的住房率、旅館的營運年限、以及加入連鎖系統的旅館，對財務績效也有著顯著以及正向的效果存在。整合移動平均以及縱橫面資料回歸分析的實證結果發現，本國旅客、住房率、旅館營運年限、加入連鎖系統為增進旅館財務績效的重要因素。

The study is aim to investigate factors affecting financial performance for hotels in Taiwan. The dataset includes 46 international tourist hotels’ financial performance in Taiwan from the period 2002 to 2011. The moving average regression and panel data regression are used to analyze the effects of factors like tourists by nationalities, the operation year, location, occupancy rate, management style, and distance between international airports on hotels’ financial performance. First, exercising unit root test to see the data used in moving average regression and panel data regression is stationary and then run the regression. Second, the Hausman test is employing to examine whether fixed-effects model or random-effects model is suitable for panel data regression. Third, using LM test to confirm that panel data regression is better than mixed-data regression. The empirical results suggest that nationality of domestic visitors have significantly positive effects on financial performance, and occupancy rate, the operation year of hotel, and hotels join in chain system are the key factors that affect financial performance.