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Borrowing from arguments of agency theory, the present study aims to investigate the moderating effect of the deviation from optimal franchising on the relationship between corporate governance provisions and firm financial performance.

The sample consists of 35 publicly listed US restaurant firms for the 1990-2008 period. The study uses a hierarchical regression with cross-sectional time-series fixed effects.

The results show that the deviation from optimal franchising worsens the negative relationship between corporate governance provisions and firm performance.

The availability of governance data restricts our sample to large publicly listed firms in the US restaurant industry, limiting the ability to generalize results for small and privately held restaurant firms.

Firm executives should not only pay attention to which corporate governance provisions they adopt but also strive to maintain an optimal level of franchising.

The key contribution of this study to governance literature is that this study demonstrates how the presence of multiple governance mechanisms influences firm performance.

This paper aims to examine and analyze the findings of an empirical survey of the productivity of guest‐related IT applications and perceptions of hotel managers on IT competency in upscale hotels in Turkey.

The data is collected via a structured questionnaire from 122 upscale hotels in Turkey.

The findings of this study show that hotel managers view guest‐related IT applications as highly productive and appreciate IT's benefits. It seems there is a strong relationship between guest‐related IT applications and productivity in the lodging industry.

This study reflects the perception of hotel managers working in a specific country, i.e. Turkey (and only upper class hotels).

This study provides a useful insight for hoteliers to understand the productivity dimensions of guest‐related IT applications. This understanding will shape the patterns of decision makers when considering the adoption of certain technologies or when preparing IT capital budgets. The results will also assist hoteliers to adopt the most beneficial technologies and formulate more appropriate strategies around customer preferences.

Changes in customer preferences and new innovations leave some technology applications outdated or useless. This study provides a new perspective on the productivity of guest‐related IT applications. The findings of this paper can be used as a guide for hoteliers deciding on which IT applications to be implemented to meet customer expectations while maximizing the benefits of a hotel property.

The purpose of this study is to examine and to compare the most utilized information technology (IT) investment decision methods between hotels with centrally managed IT, and hotels with locally managed IT.

The empirical data were collected via a structured questionnaire from hotel managers in the USA.

The key findings of the research are that evaluation activities for hospitality IT investments have not been performed widely and consistently. Although sophisticated evaluation methods have been developed over the years, they do not appear to have provided a satisfactory answer to improve IT decision‐making practice. In this study, significant differences were found in how IT investments are evaluated in hotels with centrally managed IT as compared to hotels with locally managed IT. The hotels with centrally managed IT tend to use more financial and non‐financial evaluation methods since all investments are expected to show a positive return on investment.

The research findings highlight the importance of the use of IT investment evaluation techniques in hotels and the major differences between hotels with centrally and locally managed IT.

The literature on IT investment evaluation methods in the lodging industry is limited. Being one of the first studies in this area, these research findings are particularly valuable for practitioners and researchers.