Is Gibrat’s law valid for travel agencies and tour operators? Evidence from the Visegrad group countries

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Is Gibrat’s law valid for travel agencies and tour operators? Evidence from the Visegrad group countries

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Is Gibrat’s law valid for travel agencies and tour operators? Evidence from the Visegrad group countries

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název periodika

Journal of East European Management Studies

ISSN

0949-6181

e-ISSN

1862-0019

Svazek periodika

24

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

19

Strana od-do

447-465

Kód UT WoS článku

000483449500005

EID výsledku v databázi Scopus

2-s2.0-85073272477