This study can be conducted in sectors other than the hotels such as

This study can be conducted in sectors other than the

This preview shows page 33 - 39 out of 41 pages.

This study can be conducted in sectors other than the hotels such as manufacturing sectors, banks, finance and development banks or hydropower companies. The researcher can also use other financial rations for comparison such as NIM, debt ratio and leverage as an independent variable in the study. Future research should aim at whether similar results can be found for different sectors, characterized by different degrees of financial development. In order to cope with the limitations of this study, future research could also compare results between listed and
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COMPARISON OF FINANCIAL PERFORMANCE OF LISTED HOTELS 34 unlisted hotels of Nepal. This study taken for a short-term period of eight years showed that ROE has significant impact and ROA and NIAT has insignificant impact across the listed hotels of Nepal Stock Exchange. The future researches could examine the relationship between these independent and dependent variables for a long-term period and analyze whether the results are same or vary with the extended period.
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COMPARISON OF FINANCIAL PERFORMANCE OF LISTED HOTELS 35 Appendix Table 1 Empirical Literature Review Table Authors Major Findings [ CITATION Avk95 \l 1033 ] Established that the financial performance of banks and other financial institutions is measured using a combination of financial ratios analysis, measuring performance against budget or a mix of other methodologies. [ CITATION Jha12 \l 1033 ] Decided from the multiple regression analysis that the CAR, IETTL and NIM were significant but had a negative effect on ROA while NPL and CDR did not have any considerable effect on ROA. [ CITATION All13 \l 1033 ] Discovered there is no a significant mean difference of profitability among of peer banks groups in term of ROA. (Mutswenje, 2014) Settled that most of the banking groups have witnessed a downturn performance in terms of ROA from 2009 to 2010. [ CITATION Bha14 \l 1033 ] Acknowledged that Liquidity, Efficiency, Profitability, Capital Adequacy and Assets Quality had significant relationship with the financial performance of the company
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COMPARISON OF FINANCIAL PERFORMANCE OF LISTED HOTELS 36 Table 2 List of samples of Hotels selected under study Name of the Hotels Abbreviations Study Period Observations Oriental Hotel Limited OHL 2010-2017 8 Soaltee Hotel Limited SHL 2010-2017 8 Taragaon Regency Hotel Ltd. THL 2010-2017 8 Table 3 Descriptive statistics of variables under study Statistics ROA ROE NIAT Mean 0.2357 0.1465 153029335.9 Median 0.195 0.095 134842724 Std. Deviation 0.60733 0.0991 62972644.93 Minimum 0.04 0.02 54853192 Maximum 2.93 0.32 315887388
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COMPARISON OF FINANCIAL PERFORMANCE OF LISTED HOTELS 37 Table 4 ANOVA table for ROA Sum of Squares df Mean Square F Sig. Between Groups 1.340 2 .670 1.892 .181 Within Groups 6.021 17 .354 Total 7.361 19 Table 5 Multiple Comparison table for ROA (I) Name of company Mean Difference (I-J) Std. Error Sig. 95% Confidence Interval Lower Bound Upper Bound OHL SHL .11319 .32140 .729 -.5649 .7913 THL -.49086 .34360 .171 -1.2158 .2341 SHL OHL -.11319 .32140 .729 -.7913 .5649 THL -.60404 .32140 .077 -1.2821 .0741 THL OHL .49086 .34360 .171 -.2341 1.2158 SHL .60404 .32140 .077 -.0741 1.2821 Table 6 ANOVA table for ROE
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COMPARISON OF FINANCIAL PERFORMANCE OF LISTED HOTELS 38 Sum of Squares df Mean Square F Sig. Between Groups .141 2 .071 21.553 .000 Within Groups .056 17 .003 Total .197 19 Table 7 Multiple Comparison table for ROE (I) Name of company Mean Difference (I-J) Std. Error Sig.
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