What Drives Liquidity of Tourism Companies? Microeconomic Evidence from Bulgaria, Czech Republic and Poland
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F18%3A00011099" target="_blank" >RIV/47813059:19520/18:00011099 - isvavai.cz</a>
Result on the web
<a href="https://acta.mendelu.cz/66/6/1477/?fbclid=IwAR0lxbo-up3GZpt3Qj9FfZ_gh50WQfWi1tc7L4ur3aDjozLINYf36tzE_jc" target="_blank" >https://acta.mendelu.cz/66/6/1477/?fbclid=IwAR0lxbo-up3GZpt3Qj9FfZ_gh50WQfWi1tc7L4ur3aDjozLINYf36tzE_jc</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.11118/actaun201866061477" target="_blank" >10.11118/actaun201866061477</a>
Alternative languages
Result language
angličtina
Original language name
What Drives Liquidity of Tourism Companies? Microeconomic Evidence from Bulgaria, Czech Republic and Poland
Original language description
Current paper focuses on business economics of tourism industry. Liquidity of a company has the key role within financial management among all industries, including the tourism as well. However, the question still remains: What drives the liquidity among hotels and travel agencies? The aim of the paper is to investigate whether or not is the liquidity among tourism companies in Bulgaria, Czech Republic and Poland affected by other selected microeconomic variables. It is obtained financial data from annual reports of 1,892 tourism companies collected within Amadeus, the international statistical database. Estimated period is from 2006 till 2015. In particular it has been explored three variables (i) return on assets, (ii) share of stockholders' funds, and (iii) average length of loans from creditors. As the main estimation method is employed the Generalized Method of Moments (GMM) with panel data. A comparison is made between both, large as well as medium sized hotels and travel agencie s in selected countries.
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
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Volume of the periodical
66
Issue of the periodical within the volume
6
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
8
Pages from-to
1477-1484
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85060226436