How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic?
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F17%3A00010810" target="_blank" >RIV/47813059:19520/17:00010810 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic?
Original language description
Even though the current paper has focused on the hotels which take a place in our country within their business, some other financial issues are also connected to that problematic. The global financial crisis and its impact on the small open economy as the Czech Republic is, as well as the monetary policy of the Czech National Bank (CNB), both has affected not only the business of entire hotel industry. The aim of the paper is to investigate whether or not as well as how the future restrictive monetary policy could affect the hotel's turnover in the Czech Republic. As the main estimation method it is used the GMM regression with pooled data of the hotels. It is obtained time series for the hotels' profit and loss statements from Bureau van Dijk's Amadeus international statistical database and exchange rates as well as the CNB foreign exchange trading from their online database. According to the CNB, which has decided to use the koruna Exchange rate as an additional instrument for easin g the monetary conditions in 2013, they will still not discontinue the use of the exchange rate as a monetary policy instrument before 2017 Q2. Therefore, suggestions for the hotels to hedge naturally have been made. Finally, there are some ideas for future research in that area, too.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Enterprise and competitive environment
ISBN
978-80-7509-499-5
ISSN
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e-ISSN
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Number of pages
8
Pages from-to
318-325
Publisher name
Mendelova univerzita v Brně
Place of publication
Brno
Event location
Brno
Event date
Mar 9, 2017
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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