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Pregled bibliografske jedinice broj: 972352

Financial Analysis as a Measure of Risk Management in Croatia's Hotel Industry


Karanović, Goran; Karanović, Bisera; Štambuk, Ana
Financial Analysis as a Measure of Risk Management in Croatia's Hotel Industry // The Economies of the Balkan and the Eastern European Countries in the changing World, KnE Social Sciences / Polychronidou, Persefoni ; Karasavvoglou, Anastasios (ur.).
Warsaw, Poland: Eastern Macedonia and Thrace Institute of Technology –Department of Accounting and Finance, Greece, Warsaw School of Economics, Poland, and Poznań University of Economics and Business, Poland, 2018. str. 88-106 doi:10.18502/kss.v3i10.3532 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)


Naslov
Financial Analysis as a Measure of Risk Management in Croatia's Hotel Industry

Autori
Karanović, Goran ; Karanović, Bisera ; Štambuk, Ana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
The Economies of the Balkan and the Eastern European Countries in the changing World, KnE Social Sciences / Polychronidou, Persefoni ; Karasavvoglou, Anastasios - Warsaw, Poland : Eastern Macedonia and Thrace Institute of Technology –Department of Accounting and Finance, Greece, Warsaw School of Economics, Poland, and Poznań University of Economics and Business, Poland, 2018, 88-106

Skup
The Economies of the Balkan and the Eastern European Countries in the changing World (EBEEC 2018)

Mjesto i datum
Varšava, Poljska, 11–13.05.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Risk management, fundamental analysis, ratio analysis, hotels, Croatia

Sažetak
The purpose of this article is to examine the relative financial performance of the Croatian hotel industry and identify recent trends by combining fundamental financial analysis, descriptive statistics and trend analysis as measures of risk management. Based on the data aggregated from the Croatian Financial Agency (FINA) for the period of 2007-2017, cumulative financial statements are generated for the entire hotel industry. The findings of ratio analysis reveal that although hotel companies have experienced strong growth in real estate investments and capital reserves accumulation during the period, the overall hotel industry in Croatia is nevertheless highly leveraged, operationally inefficient, unprofitable and plagued with liquidity problems. Most of these issues can be attributed to the unfinished transition of select hotel companies to a free market economy. The study’s results are relevant both for the scientific and the professional field, as empirical analyses of financial performance of the domestic hotel industry have been scarce to date. In that respect, this has been a first study of its sort conducted for the hotel industry in Croatia which addresses the lack of existing literature and is expected to provoke similar studies in the future.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
This paper has been financially supported by the University of Rijeka, for the project ZP UNIRI 2/17.



POVEZANOST RADA


Projekt / tema
ZP UNIRI 2/17

Ustanove
Ekonomski fakultet, Rijeka,
Fakultet za menadžment u turizmu i ugostiteljstvu, Opatija,
Visoka poslovna škola PAR, Rijeka

Časopis indeksira:


  • Web of Science Core Collection (WoSCC)
    • Conference Proceedings Citation Index - Social Sciences & Humanities (CPCI-SSH)


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