Is Gibrat’s law valid for travel agencies and tour operators? Evidence from the Visegrad group countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F71226401%3A_____%2F19%3AN0100261" target="_blank" >RIV/71226401:_____/19:N0100261 - isvavai.cz</a>
Result on the web
<a href="https://www.nomos-elibrary.de/10.5771/0949-6181-2019-3-447/is-gibrat-s-law-valid-for-travel-agencies-and-tour-operators-evidence-from-the-visegrad-group-countries-volume-24-2019-issue-3" target="_blank" >https://www.nomos-elibrary.de/10.5771/0949-6181-2019-3-447/is-gibrat-s-law-valid-for-travel-agencies-and-tour-operators-evidence-from-the-visegrad-group-countries-volume-24-2019-issue-3</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.5771/0949-6181-2019-3-447" target="_blank" >10.5771/0949-6181-2019-3-447</a>
Alternative languages
Result language
angličtina
Original language name
Is Gibrat’s law valid for travel agencies and tour operators? Evidence from the Visegrad group countries
Original language description
The purpose of this paper is to investigate the validity of Gibrat’s law for a sample of travel agents from the Visegrad group (V4) countries and to identify the size-growth relationship. Using a linear auto-regressive model and ordinary least squares estimator, we rejected the validity of Gibrat’s law in the V4 countries (except Poland, where the results were mixed). The smallest firms tend to grow faster than their larger counterparts. Using quantile regression models, we concluded that the size-growth link differed depending on actual firm size. Before reaching minimum efficient scale (MES), there is a positive relationship between firm growth and firm size. This relationship is negative after reaching MES: the smaller firms grow faster than bigger ones. Gibrat’s law tends to be valid in the population of firms that have reached MES. This shows that economies and diseconomies of scale could play a significant role in explaining the size-growth relationship of travel agents.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
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
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of East European Management Studies
ISSN
0949-6181
e-ISSN
1862-0019
Volume of the periodical
24
Issue of the periodical within the volume
3
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
19
Pages from-to
447-465
UT code for WoS article
000483449500005
EID of the result in the Scopus database
2-s2.0-85073272477