Bankruptcy Risk Exposure of Serbian Hotels in the Period 2008-2012

Mizdraković, Vule; Knežević, Goranka; Stanić, Nenad

doi:10.15308/sitcon-2015-164-167

Cited by 10 publications

(15 citation statements)

References 6 publications

(8 reference statements)

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“…It has been found that 3-and 5-star hotels are more at risk of bankruptcy than 4-star hotels, while 2-star hotels are at a lower risk. Mizdraković et al (2015) found that there has been deterioration in the financial stability of hotel businesses in 2008-2011 in the Republic of Serbia, while the average value of Altman's Z-score model in 2011 compared to 2008 decreased by about 70%.…”

Section: Literature Reviewmentioning

confidence: 98%

Bankruptcy forecasting of hotel companies in the Republic of Serbia using Altman's Z-score model

Milašinović

Knežević

Mitrović

2019

Menadž u hotelijerstvu i turiz

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Monitoring the financial health of a company to prevent bankruptcy is not only a matter of interest to owners, management and creditors as previously thought, but also a subject of interest to the wider community due to the consequences that bankruptcy may cause. There are numerous models for predicting bankruptcy, but one of the most commonly used is Altman's Z-score model. Over time, the model has been modified so that from its initial form that was intended solely for one enterprise model, today we have a model that can be applied to manufacturing, service, public and private enterprises, as well as to businesses operating in developing markets. The paper uses Altman's Z-score model for companies operating in developing markets to assess the financial health, that is, the possibility of bankruptcy in a sample of 7 hotel companies listed on the Belgrade Stock Exchange.

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Section: Literature Reviewmentioning

confidence: 98%

Bankruptcy forecasting of hotel companies in the Republic of Serbia using Altman's Z-score model

Milašinović

Knežević

Mitrović

2019

Menadž u hotelijerstvu i turiz

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“…For the purposes of the paper's subject, it is important to point out the possibility of bankruptcy of hotel companies. In order to examine the possibility of bankruptcy in hotel companies from Serbia, Mizdrakoviš et al (2015) applied several models. The business of hotel companies was observed in the period from 2008 to 2012.…”

Section: Literature Reviewmentioning

confidence: 99%

Profitability analysis of hotel companies in the Republic of Serbia

Mitrović¹,

Knežević²,

Milašinović³

2021

Menadž u hotelijerstvu i turiz

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The purpose of the research is to examine the level and trends of profitability ratios of hotel companies operating in the Republic of Serbia in the period from 2016 to 2019. The research was conducted on a sample of 100 hotel companies, where profitability was measured by the operating profit rate, the net profit rate, the rate of return on total assets and the rate of return on equity. The results of the research show that the values of the used profitability indicators have increased in 2017 compared to 2016, but decreased in 2018 and 2019. Statistical analysis found that changes in the operating profit rate and net profit rate during the observed four-year period were not statistically significant, while the decline in the value of the rate of return on total assets in 2018 compared to 2017 and the decline in the rate of return on equity in 2018 compared to 2017 and in 2019 compared to 2018 was statistically significant. The results of the research can be important for (1) the management of a company, (2) its owners, because they enable gaining an insight into the level of profitability of entrusted companies, i.e. the companies that are in the ownership, and (3) investors and creators of tourism development policy.

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“…Kralicek's DF indicator was created on a sample of European companies on the markets in Austria, Germany and Switzerland (Mizdraković et al, 2015). Using the data from financial statements, Professor Kralicek conducted a multivariate discriminatory analysis and formed a business success model which is used for predicting bankruptcy (Zenzerović & Peruško, 2006 After developing this indicator, Professor Kralicek created a QuickTest model that is applied in assessing a company's financial performance and the viability of assets.…”

Section: Models For Identifying Peter Kralicek's Business Successmentioning

confidence: 99%

Business success analysis in the hotel industry

Nikolić¹

2017

Proceedings of the 4th International Scientific Conference - FINIZ 2017

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Abstract:When analyzing a company's business operations, business indicators are considered, which, on the basis of the values obtained at the calculation stage, point to its financial position, i.e. its situation. In addition to standard business indicators, group models of indicators, also known as "prognostic models" are created and by their application it is possible to predict financial situation, i.e. stability or instability of a company. In this paper, the data from the financial statements for 2013, 2014, 2015 and 2016 will be tested using Kralicek's DF model and Quick Test and a forecast regarding business stability of the sampled hotels in Serbia will be provided.

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Bankruptcy Risk Exposure of Serbian Hotels in the Period 2008-2012

Cited by 10 publications

References 6 publications

Bankruptcy forecasting of hotel companies in the Republic of Serbia using Altman's Z-score model

Bankruptcy forecasting of hotel companies in the Republic of Serbia using Altman's Z-score model

Profitability analysis of hotel companies in the Republic of Serbia

Business success analysis in the hotel industry

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