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Considerations Regarding The Impact Of The Covid-19 Pandemics Over The Financial Performance At The Level Of The Tourism Companies Operating In Central And Eastern Europe

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  • Laurentiu DROJ

    (University of Oradea, Faculty of Economics, Finance and Accounting Department, Oradea, Romania)

  • Gabriela DROJ

    (University of Oradea, Faculty of Construction, Cadaster and Architecture, Oradea, Romania)

Abstract

The tourism sector is one of the most dynamic economic sectors in Romania contributing with 6.3% in the number of workplaces and reaching 5.3% from the total GDP. The impact of the COVID-19 pandemic over this sector has been catastrophic. The goal of the proposed article is to perform a brief financial assessment of the companies operating in the tourism sector, located Romania, Croatia, Hungary and Slovenia, by using financial information collected from Amadeus database. The macroeconomic data was collected through Statista and the financial information used in the study is based on the financial reporting data for the years 2016-2020 processed through Amadeus data base. Based on both sets of data the current paper will attempt to analyze the financial information (ROE, ROA, annual return, evolution of cash-flow and number of employees) and determine if a link can be established between the evolution of the financial performance of the selected companies and the COVID-19 pandemics effects over the tourism sector. These companies were selected especially since they are extremely affected by the effects of COVID19 and therefore further research can be performed in the following years.

Suggested Citation

  • Laurentiu DROJ & Gabriela DROJ, 2021. "Considerations Regarding The Impact Of The Covid-19 Pandemics Over The Financial Performance At The Level Of The Tourism Companies Operating In Central And Eastern Europe," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 30(2), pages 291-298, December.
    • Handle: RePEc:ora:journl:v:30:y:2021:i:2:p:291-298
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    File URL: http://anale.steconomiceuoradea.ro/volume/2021/n2/030.pdf
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    References listed on IDEAS

    as
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    3. Tarnoczi Tibor & Fenyves Veronika, 2011. "Liquidity Management And Corporate Risk," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 530-536, July.
    4. Ohlson, Ja, 1980. "Financial Ratios And The Probabilistic Prediction Of Bankruptcy," Journal of Accounting Research, Wiley Blackwell, vol. 18(1), pages 109-131.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financial analysis; financial results; ROE; ROA; Romania; Croatia; Slovenia; Hungary; COVID19; tourism;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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