How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic?

Kód výsledku v 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>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic?

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic?

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Enterprise and competitive environment

ISBN

978-80-7509-499-5

ISSN

—

e-ISSN

—

Počet stran výsledku

8

Strana od-do

318-325

Název nakladatele

Mendelova univerzita v Brně

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

9. 3. 2017

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

—