What Drives Liquidity of Tourism Companies? Microeconomic Evidence from Bulgaria, Czech Republic and Poland
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
What Drives Liquidity of Tourism Companies? Microeconomic Evidence from Bulgaria, Czech Republic and Poland
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
What Drives Liquidity of Tourism Companies? Microeconomic Evidence from Bulgaria, Czech Republic and Poland
Popis výsledku anglicky
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.
Klasifikace
Druh
J<sub>SC</sub> - Článek v periodiku v databázi SCOPUS
CEP obor
—
OECD FORD obor
50204 - Business and management
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2018
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
—
Svazek periodika
66
Číslo periodika v rámci svazku
6
Stát vydavatele periodika
CZ - Česká republika
Počet stran výsledku
8
Strana od-do
1477-1484
Kód UT WoS článku
—
EID výsledku v databázi Scopus
2-s2.0-85060226436