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Abstract: The findings of a study concerned with the locus of power between hotel owners and operators in Australia and New Zealand with hotels operated via a management contract are reported. Hypotheses are developed and tested in relation to the potential of locus of power to be associated with capital budgeting procedures. Using questionnaire survey data, support has been provided for the view that greater owner power is associated with: greater owner involvement in the capital budgeting process; greater emphasis on financial analytical tools in capital budgeting; and operators experiencing greater difficulty in securing a release of funds from the furniture, fixture and equipment reserve. [Copyright &y& Elsevier]

An empirical study concerned with investigating the prevalence and nature of brand valuation activity in strongly-branded New Zealand based companies is reported. Analysis of data provided by 60 companies responding to a questionnaire mailed to all New Zealand companies identified as owning recognisable brand names revealed that 15 (25%) had been involved in brand valuation activity. Support for a hypothesised relationship between the acquisitive orientation of companies and the propensity to value brands has been provided. The extent to which brand valuation is conducted as an information service to management suggests that the financial accounting orientation that has characterised much of the brand valuation debate may be somewhat inappropriate. [ABSTRACT FROM AUTHOR]