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Reinvestments in dentistry and differences between western or central and eastern European countries

Author

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  • Tomas Heryan

    (Asst Prof., Department of Finance and Accounting, Silesian University, School of Business Administration, Karviná, Czech Republic)

Abstract

This paper has focused on the willingness of owners to reinvest their profit back into a company. Research gaps in the investigation of financial issues in the healthcare industry are apparent in the literature. The aim of this paper is to estimate the differences in reinvestments between dentistry companies operating in western or central and eastern Europe (CEE). Annual Orbis data were obtained from financial reports from 3,711 western and 1,173 CEE companies. The generalized method of moments with panel data, currently modified by Kripfganz (2019), has been deployed as the main estimation technique. The estimated sample has been divided according to the return on assets into quartiles. The results clearly show that western owners rather reinvested their earnings back into their businesses, whereas CEE owners reinvest at a lower level. Furthermore, the willingness to reinvest, as well as the financial constraints related to that, can affect the quality of dentistry services.

Suggested Citation

  • Tomas Heryan, "undated". "Reinvestments in dentistry and differences between western or central and eastern European countries," Review of Socio - Economic Perspectives 202220, Reviewsep.
    • Handle: RePEc:aly:journl:202220
    DOI: https://doi.org/10.19275/RSEP141
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    References listed on IDEAS

    as
    1. Nancy L. Stokey, 1991. "Human Capital, Product Quality, and Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 587-616.
    2. Sebastian Kripfganz, 2019. "Generalized method of moments estimation of linear dynamic panel-data models," London Stata Conference 2019 17, Stata Users Group.
    3. Manh Dung Tran & Ngoc Hung Dang, 2021. "The Impact of Ownership Structure on Earnings Management: The Case of Vietnam," SAGE Open, , vol. 11(3), pages 21582440211, September.
    4. Kiviet, Jan F., 2020. "Testing the impossible: Identifying exclusion restrictions," Journal of Econometrics, Elsevier, vol. 218(2), pages 294-316.
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    More about this item

    Keywords

    reinvestment of profit; Management of earnings; Dentistry; GMM with panel data;
    All these keywords.

    JEL classification:

    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • D25 - Microeconomics - - Production and Organizations - - - Intertemporal Firm Choice: Investment, Capacity, and Financing
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other

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