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| Tekijä: | Liu, Y-D |
| Otsikko: | Profitability measurement of UK theme parks: an aggregate approach |
| Lehti: | International Journal of Tourism Research
2008 : MAY-JUNE, VOL 10:3 p. 283-288 |
| Asiasana: | profitability data envelopment analysis tourism BUSINESS RATIOS united kingdom |
| Vapaa asiasana: | window analysis, theme park, DEA |
| Kieli: | eng |
| Tiivistelmä: | The theme park industry represents one of the major components of the tourism industry. The theme park business requires substantial capital investments and is particularly sensitive to financial leverage. The initial investments will be followed by the costs of operating to update the available attractions and implement new rides to retain market share. This paper attempts to apply data envelopment analysis (DEA) instead of traditional ratio analysis to aggregate various financial ratios into a composite profitability index representing the overall profitability of the theme park. The aim is to try to provide enough information and ignore the inefficiency caused by conflicting signals that are common when many ratios are considered. The five ratios adopted in the analysis are in common use for evaluating firms profitability. The sample consists of 12 theme parks managed by 10 leading theme park operators in the UK. The results reveal that the multi-site operators are significantly more profitable than their single site rivals. The competition between different theme park operators is increasing and the market continues to be dominated by one operator, Tussauds. |
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