Evaluating Business Performance and Efficiency in the Medical Tourism: A Multi-criteria Approach

Čabinová, Veronika; Gallo, Peter; Pártlová, Petra; Dobrovič, Ján; Stoch, Milan

doi:10.29036/jots.v12i22.247

Cited by 13 publications

(8 citation statements)

References 29 publications

(30 reference statements)

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“…The state funding of sports, the number of educational institutions training professional athletes, coaches, doctors-rehabilitators of sports and other injuries (Cabinova et al, 2021;Kumar et al, 2021;Sarihasan, 2022) directly and indirectly describe the sports management system of any country (Afrifa et al, 2021;Marsova et al, 2021). At the same time, one should emphasize that the investment decision-making process (Moskalenko et al, 2022;Prokopchuk et al, 2022;) in financial markets is complicated in modern conditions due to chaotic behavior and high uncertainty in the development of prices for investment instruments (Carmen et al, 2022;Jankova et al, 2021;Millia et al, 2022).…”

Section: Methodological Approachmentioning

confidence: 99%

The effectiveness of the sports management system in Europe: High achievements, public funding and a healthy lifestyle

Koibichuk¹,

Drozd²,

Somogyi³

2022

Economics &Amp; Sociology

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The article proposes an original approach to evaluating the effectiveness of the sports management system, which differs from the classical linear and non-linear optimization methods due to its use of quantile regression models. Three main indicators were chosen for creating the quantile regressions: (i) number of participants in the Olympic Games - as a feature of the effectiveness of the high-achievement sports; (ii) total number of people engaged in sports - as a feature of an effective mass sports system, which ensures a healthy lifestyle of the population; and (iii) state expenses on recreational and sports services. The quality of quantile regressions was validated by the Fisher test and the two-factor variance analysis. The research focused on the data of 30 European countries, which officially and publicly provide access to statistical reports on these issues. The countries were divided into two groups with above-average and below-average effectiveness of the sports management system. Two hypotheses were proposed and tested in the study. Hypothesis H1 was that the effectiveness of high-achievement sports depends on the amount of state funding for developing the sports industry. Research results confirmed this hypothesis for countries with an above-average level of sports management system effectiveness, but refuted it for the other group. Hypothesis H2 stated that the more massive the development of sport in a country, i.e., the more people are engaged in sports and lead a healthy lifestyle, the more likely this country is to achieve victories in high-achievement sports. This hypothesis was confirmed for both groups of countries.

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Section: Methodological Approachmentioning

confidence: 99%

The effectiveness of the sports management system in Europe: High achievements, public funding and a healthy lifestyle

Koibichuk¹,

Drozd²,

Somogyi³

2022

Economics &Amp; Sociology

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“…The issues of financial and economic development of resort industry were expolored by M. Cheng and D. Edwards (Cheng, Edwards, 2019); R. Štefko, S. Jenčová and P. Vašaničová (Štefko, Jenčová, Vašaničová, 2020) as well as M. Košíková and V. Loumová (Košíková, Loumová, 2019). V. Čabinová, P. Gallo, P. Pártlová, J. Dobrovič and M. Stoch (Čabinová, Gallo, Pártlová, Dobrovič, Stoch, 2021) as well as G. Saravana Kumar and N. Geetha Soni (Saravana Kumar, Geetha Soni, 2020) used in their research a multi-criteria approach to assessing business performance, the effectiveness of health and wellness (medical) tourism and customer satisfaction among domestic tourists at resorts. Development issues, problems and the significant impact of medical tourism on the well-being of society were studied by T.G.…”

Section: A Review Of Relevant Publicationsmentioning

confidence: 99%

“…The scientific paper investigates the methodological approaches of Western researchers such as V. Čabinová, P. Gallo, P. Pártlová, J. Dobrovič and M. Stoch, (Čabinová, Gallo, Pártlová, Dobrovič, Stoch, 2021), M. Halaskova, R. Halaskova, B. Gavurova, M. Kubak (Halaskova, Halaskova, Gavurova, Kubak, 2021), A. Turgay and S. H. Park (Rokni, Turgay, Park, 2017), R. Badola, S. A. Hussain, P. Dobriyal, U. Manral and A. K. Gill (Ruchi Badola, Syed Ainul Hussain, Pariva Dobriyal, Upma Manral, Amanat Kaur Gill., 2018), C. Suess, S. Baloglu and J. A. Busser (Suess, Baloglu, Busser, 2018), V. Chauhan and J. Singh (Vinay Chauhan, Jasvinder Singh., 2017) and others.…”

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confidence: 99%

Market and Administrative Regulators of Health and Wellness Tourism Market in Ukraine

Yukhnovska,

Kureda,

Korneliuk

2022

BJES

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The purpose of the article is to analyze the segments and specific factors of the development of health (medical), rehabilitation, wellness and recreational types of tourism in Ukraine and the demand for their services. The authors studied the health status of the population of Ukraine during 2015-2021, as well as indicators of morbidity among the population, which allowed to conclude about the society's need for the services of sanatoriums and resorts. Methodology. Theoretical and methodological basis of this study are the provisions of economic theory, which are presented in the fundamental works of domestic and foreign scientists on market and administrative regulators of the market of recreational tourism in Ukraine. Results. The article examines the current state of the transport infrastructure, information and communication technologies, standards of medical and health tourism services that contribute to the competitiveness of the national market of health (medical), wellness and recreational tourism. Calculations were made on the basis of official statistical data on the number of tourist flows in Ukraine by purpose of trips organized by domestic tour operators and travel agents. On the basis of these data the authors identified trends in realized demand for health and wellness (medical) services of travelers in health and recreational tours to foreign countries, where their funds go not only to health facilities, but also to the foreign tourism industry as a whole. The authors analyzed the trends in the number of sanatoriums and health resorts in Ukraine during 1990-2017, which showed a significant decrease in their number, and identified the reasons for this trend. The authors investigated the legal basis for the administrative regulation of the market of health (medical) tourism in Ukraine, namely the powers of state administration of the central executive authorities, local state administrations, executive bodies of local self-government in the field of tourism. Practical implications. Also, the typical international models of public administration in the development of tourism and resorts have been studied and determined that in the context of market reforms of the Ukrainian economy, a model for the formation of the state institution of tourism management and the emergence of this model in the country has been investigated. The article also focuses on the process of privatization of health resorts located or created in the territories of resorts of local importance and using the natural healing resources of these territories. Value/originality. It would be advisable to coordinate the activities of different levels of administration in the development of regional health tourism in order to rationally and efficiently use regional resources and eventually achieve a synergistic effect.

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“…The legal way of tax optimization is tax avoidance, while illegal tax reduction is called tax evasion. Between the two concepts can be a vague boundary, it uses the term "tax evasion" (Williams et al, 2020;Hlawiczka et al, 2021;Cabinova et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

Valuing the Interest Tax Shield in the Central European Economies: Panel Data Approach

Kováčová¹,

Krajčík²,

Michalkova³

et al. 2022

JOC

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Capital structure is one of the most frequently discussed issues within Corporate Finance Theory. Optimizing the capital structure and value of the tax shield through the evaluation of its interests can lead to the increasing value of the enterprise, followed by the rising competitiveness and flexibility. The aim of this study is to provide a novel look at the value of the interest tax shield and its determinants in the emerging economies of the Visegrad Four. The model was created on a net sample of nearly 7,000 profitable enterprises between 2015 and 2019 using a one-way fixed effects model of panel data. Regional model results show five main determinants of the debt tax shield (Tangibility, Current Ratio, Gearing, Cost of debt and Size). Others, such as non-debt tax shield, business growth or profitability, are regional, and their impact varies depending on the economic conditions of the countries. The direction of influence of the main determinants indicates that, contrary to the assumed trade-off theory, profitable companies manage the capital structure and the value of tax shield according to the pecking order or modified pecking order theory. The tax shield is made up mostly of interest on short-term loans, which increases the risk of financial distress. There is a hierarchy of funding sources, from trade credit, through shortterm loans, to long-term loans, which are used in the analysed firms to the smallest extent. The structure of liabilities may be considered another determinant of the debt tax shield.

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Evaluating Business Performance and Efficiency in the Medical Tourism: A Multi-criteria Approach

Cited by 13 publications

References 29 publications

The effectiveness of the sports management system in Europe: High achievements, public funding and a healthy lifestyle

The effectiveness of the sports management system in Europe: High achievements, public funding and a healthy lifestyle

Market and Administrative Regulators of Health and Wellness Tourism Market in Ukraine

Valuing the Interest Tax Shield in the Central European Economies: Panel Data Approach

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