The aim of this article is to use multiple discriminant analysis (MDA) and logit models to assess the risk of bankruptcy of companies in the Polish tourism sector in the crisis conditions caused by the COVID-19 pandemic. A review of the literature is used to select models appropriate to analyze the risk of bankruptcy of tourism enterprises listed on the Warsaw Stock Exchange (WSE). The data are from half-year financial statements (the first half of 2019 and 2020, respectively). The obtained results are compared with the current values of the Altman EM-score model and selected financial ratios. An analysis allowed the estimation of the risk of bankruptcy of enterprises from the tourism sector in Poland as well as the assessment of the prognostic value of these models in the tourism sector and the risk of a collapse of this market in Poland. The article fills the research gap created by the negligible use of solvency analysis of the tourism sector and constitutes the basis for estimating the risk of collapse of the tourism sector in a crisis situation.
Background. The choice of location of a hotel is one of the most important decisions taken at the pre-investment stage. Through the impact on the costs and revenues, it affects the hotel's profitability and other indicators of economic efficiency.
Purpose: Successful business cooperation requires the managerial effectiveness shaped by capabilities necessary to leverage a firm's resources in the international marketplace. Because firms like other organisations can face unique challenges through building their managerial capabilities, the purpose of this study is to analyse managers' competencies of small-to-medium-sized firms and determine what the primary determinant of shaping managers' effectiveness is? Approach/Methodology/Design: A grounded theory and interviews with 142 Polish managers from private firms to determine their key competencies. Findings: The competencies categories emerged from the research findings. The study showed a dominant area of conceptual and relationship competencies in an entrepreneurial competency framework, which results from openness to the environment. Besides, this study confirmed other researchers' arguments that managerial competencies are thought to be multidimensional constructs. Practical Implications: The article brings several valuable information that can be the base material and reference to further research and practice. Originality/Value: The study combines research on business in Western countries with companies' activity from Central Europe. It fits into the research stream of competencies as drivers of managerial effectiveness, entrepreneurship, and an entrepreneurial competency framework.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.