HERYÁN, Tomáš. How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic? In Enterprise and competitive environment. Brno: Mendelova univerzita v Brně, 2017. s. 318-325. ISBN 978-80-7509-499-5.
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Základní údaje
Originální název How is a hotel's turnover affected by foreign exchange interventions in the Czech Republic?
Autoři HERYÁN, Tomáš (203 Česká republika, garant, domácí).
Vydání Brno, Enterprise and competitive environment, od s. 318-325, 8 s. 2017.
Nakladatel Mendelova univerzita v Brně
Další údaje
Originální jazyk angličtina
Typ výsledku Stať ve sborníku
Obor 50204 Business and management
Utajení není předmětem státního či obchodního tajemství
Forma vydání elektronická verze "online"
Kód RIV RIV/47813059:19520/17:00010810
Organizační jednotka Obchodně podnikatelská fakulta v Karviné
ISBN 978-80-7509-499-5
Klíčová slova anglicky Hotels; global financial crisis; Czech Republic; FX interventions
Změnil Změnil: RNDr. Daniel Jakubík, učo 139797. Změněno: 7. 2. 2020 10:57.
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 easing 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.
VytisknoutZobrazeno: 23. 6. 2021 23:11