THE INFLUENCE OF FOREIGN ECONOMIC FACTORS ON THE PERFORMANCE OF TOUR OPERATORS IN ROMANIA

Angelica BUBOI (danaila) () and Cristina Gabriela Cosmulese ()
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Angelica BUBOI (danaila): Bucharest Academy of Economic Studies, 010374, Romania
Cristina Gabriela Cosmulese: Stefan cel Mare University of Suceava, 720229, Romania

European Journal of Accounting, Finance & Business, 2023, vol. 11, issue 3, 104-111

Abstract: The article aims to identify models for assessing the performance of companies operating under CAEN code 7911: Activities of tourist agencies, under the influence of multiple crises, in the period 2012-2021. To this end, the top 110 companies for each CAEN code were selected for analysis through the top companies’ platform. In the data collection process, the value of the turnover indicator was taken into account. Following the data processing, an econometric model was developed based on multiple linear regression. The results of the research reveal that the greatest influence on turnover during the period analysed was exerted by the variables ROA, average number of employees and overall liquidity, demonstrating the importance of employees and the efficient use of financial resources in times of crisis. Moreover, the results suggest that the least influence is given by receivables and debts, because in such periods travel agencies and restaurants prefer immediate receipts to be able to meet expenses without increasing the value of debts in an unstable economic environment.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:11:y:2023:i:3:p:104-111

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