Differentiating with brand personality in economy hotel segment

The purpose of this study is to explore the applicability of brand personality in the economy hotel segment and whether hotel brand personality could differentiate between similar hotel brands. Courtyard and Hampton Inn are used in this study. The results of this study suggest that brand personality dimensions can be clearly delineated in the economy hotel sector, in consistent with Aaker’s dimensions, ruggedness, competence, excitement, sophistication, and sincerity. Moreover, similar hotel brands can be perceived differently based on their personalities. Additionally, although common brand personality factor structure can be used to describe economy hotel brands in general, specific hotel brand does exhibit some unique dimensions

Revisiting agency theory: evidence of board independence and agency cost from Bangladesh

This study examines the influence of board independence on firm agency cost among listed firms in Bangladesh, which feature concentrated ownership and high insider representation on corporate boards. This study uses three measures of agency cost: the 'expense ratio', the 'Q-free cash flow interaction' and the 'asset utilization ratio'. The finding of the study is that board independence can reduce the firm agency cost only under 'asset utilization ratio' measure of agency cost. These findings are robust to several robustness tests. Furthermore, the non-linearity tests suggest that the benefit of outside independent directors is generally plausible as a factor controlling agency costs in the case of a medium level of board independence. Overall, these findings do not reject the validity of agency theory, supporting the Anglo-American orthodoxy promoting outside independent directors as good monitors