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HERYÁN, Tomáš and Petra RŮČKOVÁ. Financial variables affecting the liquidity of those profitable medium-sized companies within tourism in Bulgaria, the Czech Republic and Poland. In Sonia Mileva, Nikolina Popova. Research, Development and Education in Tourism. 2019th ed. Newcastle upon Tyne: Cambridge Scholars Publishing, 2019. p. 181-198. ISBN 978-1-5275-3719-4.
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Basic information
Original name Financial variables affecting the liquidity of those profitable medium-sized companies within tourism in Bulgaria, the Czech Republic and Poland
Authors HERYÁN, Tomáš and Petra RŮČKOVÁ.
Edition 2019. vyd. Newcastle upon Tyne, Research, Development and Education in Tourism, p. 181-198, 18 pp. 2019.
Publisher Cambridge Scholars Publishing
Other information
Original language English
Type of outcome Chapter(s) of a specialized book
Country of publisher United Kingdom of Great Britain and Northern Ireland
Confidentiality degree is not subject to a state or trade secret
Publication form printed version "print"
WWW Zde je možno knihu zakoupit
Organization unit School of Business Administration in Karvina
ISBN 978-1-5275-3719-4
Tags financial management, tourism
Tags International impact, Reviewed
Links SGS/7/2018, research and development project.
Changed by Changed by: Ing. Tomáš Heryán, Ph.D., učo 16183. Changed: 10/1/2020 15:09.
Abstract
It is without any doubt that business decisions for sustainable development in tourism are affected by the financial decisions of financial managers. This chapter focuses on the issue of financial management decisions. Liquidity of a company has a key role within financial management among all industries, including tourism. However, the question still remains. What drives liquidity among those profitable hotels and travel agencies? The aim of the study is to estimate, how liquidity is affected by selected financial variables among profitable medium-sized companies within tourism in Bulgaria, the Czech Republic, and Poland. Through the following analysis financial data has been obtained from the annual reports of 1,690 medium-sized tourism companies collected within AMADEUS, the international statistical database. The estimated period is from 2006 to 2015. As the main estimation method, the Generalized Method of Moments (GMM) with panel data is deployed. Then a comparison is made between both the whole sample and these profitable hotels as well as travel agencies in selected countries.
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