Making anti-takeover provisions a bulwark of financial stability for hospitality firms during the COVID-19 crisis

Naima Lassoued and Imen Khanchel

International Journal of Business Governance and Ethics, 2025, vol. 19, issue 5, 597-615

Abstract: This study examines the impact of anti-takeover provisions (ATPs) on mitigating default risk among firms within the hospitality industry during the pandemic. The sample includes 253 firms from the hospitality sector and closely related industries. The results show that the adoption of ATPs is associated with a reduced default risk during the pandemic, suggesting that hospitality firms implementing ATPs exhibit increased resilience to the health crisis and have effectively navigated the adverse impacts of the pandemic. These findings remain robust and consistent through a series of rigorous robustness checks.

Keywords: hospitality industry; ATPs; COVID-19; Z-score. (search for similar items in EconPapers)
Date: 2025
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