Naslov
Performance Analysis of Small Family Hotels

Autori
Bujan, Ivana ; Crnković-Stumpf, Branka

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

Izvornik
Economy of Eastern Croatia – Vision and Growth / Mašak Tonković, Anka - Osijek : University Josip Juraj Strossmayer in Osijek, Faculty of Economics in Osijek, 2016, 113-121

Skup
5th International Scientific Symposium Economy of Eastern Croatia – Vision and Growth

Mjesto i datum
Osijek, Hrvatska, 02.06.2016. - 04.06.2016

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
small family hotels ; performance measures ; multiple linear regression ; entrepreneurial knowledge ; capital structure

Sažetak
This paper analyzes financial performance measures of small family hotels (SFH). The empirical goal of this paper is to operationalize capital structure and performance measures of SFH which was fulfilled with a given variables used in research models. Performance measures used in this paper are average growth rates for five-year period – from 2010 to 2014, average net profit growth rate and average sales revenue growth rate. Descriptive analysis of performance measures and capital structure measures shows significant deviations regarding minimal and maximal values in the sample consisting of 120 SFH. Two hypotheses set in the paper were confirmed with multiple linear regression and by constructing two empirical models. Empirical results imply that owner`s knowledge on financing set as equity-to-assets ratio significantly positively influences average net profit growth rate which was confirmed in model 1. Furthermore, owner`s knowledge on financing set as debt-to-equity ratio significantly positively influences average sales revenue growth rate which was confirmed in model 2. According to the research presented in this paper, implications for further research are given which suggest international comparative analysis and deeper and more extensive study of non-financial performance measures.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
This work has been supported in part by the
University of Rijeka under the project number
13.02.1.2.09. and in part by the Croatian
Science Foundation under the project 6558
Business and Personal Insolvency – the Ways to
Overcome Excessive Indebtedness

POVEZANOST RADA