2025
Heterogeneous impacts of the COVID-19 pandemic on financial performance among European hotels
HERYÁN, Tomáš; Petra RŮČKOVÁ and Jana ŠIMÁKOVÁBasic information
Original name
Heterogeneous impacts of the COVID-19 pandemic on financial performance among European hotels
Name in Czech
Heterogenní dopady pandemie nemoci COVID-19 na finanční výkonnost evropských hotelů
Authors
HERYÁN, Tomáš (203 Czech Republic, belonging to the institution); Petra RŮČKOVÁ (203 Czech Republic, guarantor, belonging to the institution) and Jana ŠIMÁKOVÁ (703 Slovakia, belonging to the institution)
Edition
International Journal of Computational Economics and Econometrics, Švýcarsko, INDERSCIENCE Publishers, 2025, 1757-1170
Other information
Language
English
Type of outcome
Article in a journal
Field of Study
50204 Business and management
Country of publisher
Switzerland
Confidentiality degree
is not subject to a state or trade secret
References:
Impact factor
Impact factor: 0.300 in 2024
Organization unit
School of Business Administration in Karvina
EID Scopus
2-s2.0-105000225635
Keywords (in Czech)
heterogeneous impacts; COVID-19 pandemic; European hotels; financial performance; heterogeneous DiD models; difference-in-differences; cohorts
Keywords in English
heterogeneous impacts; COVID-19 pandemic; European hotels; financial performance; heterogeneous DiD models; difference-in-differences; cohorts
Tags
International impact, Reviewed
Changed: 25/4/2025 15:06, Ing. Tomáš Heryán, Ph.D.
Abstract
In the original language
The purpose of the paper is to investigate whether there would have been differences in the change of shareholders’ funds caused by the COVID-19 pandemic in Europe among medium-sized hotels. Annual data for 17 European countries have been obtained from the Bureau van Dijk Orbis database and clustered with epidemiological data from NUTS-3 regions among selected countries. Using heterogeneous difference-in-differences with cohorts, the average treatment effect on treated has been estimated with panel data. Specifically, differences between the levels of shareholders’ funds and the impact of the moderation effect between return on equity and dividends during the pandemic considering the morbidity among pandemic patients in selected regions. The results have suggested that the impact of the pandemic varies between hotels with a high concentration of ownership structure having a major owner and those with a low concentration and dispersed ownership structure.