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- ItemGREEN MANAGEMENT IMPLEMENTATION: A CASE OF THE BULGARIAN HOTEL MARKET(Technická Univerzita v Liberci, ) Scholz, Petr; Červová, Lenka; Janeček, Petr; Linderová, Ivica; Ekonomická fakultaThis research article focuses on the ecological operation of accommodation services in Bulgaria. The aim of this article is to evaluate the application of various green management elements and measures in selected hotels in Bulgaria, namely in the cities of Sofia and Varna. The research will pay attention to the implementation of individual green measures in hotel operations as well as a comparison between hotel categories and hotels in the two cities in terms of the application of green measures. Running an environmentally friendly hotel can have several positive effects. It significantly manifests itself in the area of marketing – it creates an image, has an effect on current and prospective guests, and defines the positioning of the hotel. It also impacts the economic and operational aspects, with ecological elements having the potential to reduce hotels’ operating costs. The societal impact of running hotels in an environmentally friendly fashion lies in resource conservation and ensuring environmental sustainability. This research was carried out using mixed research methods, combining semi-structured interviews with hotel management staff in Varna (n = 90) and Sofia (n = 96). The total sample of participating hotels represented 81.6% of hotels in the two cities. The interviews were complemented with a questionnaire survey, which focused on the application of environmentally friendly solutions in hotel operations. In the data analysis stage, the methods of correspondence analysis, the ANOVA test and the Kruskal-Wallis test were used. The results suggest that the higher the hotel category, the stronger the trend to use environmentally friendly methods in running hotels. The research also found that there were differences between the level at which green measures were applied in hotel operations in the two cities. The research results are applicable in practice by national professional associations that support resource conservation and thus affect the entire hospitality industry.
- ItemTRENDS IN THE CATERING AND ACCOMMODATION BUSINESS IN THE MORAVIAN SILESIAN REGION(Technická Univerzita v Liberci, ) Kostková, Miroslava; Pellešová, Pavlína; Kajzar, Patrik; Ekonomická fakultaThe development of tourism trends significantly influences the tourist attractiveness of the destination ad increases tourist attendance. The paper presents the results of the research Tourist Trends in the Moravian Silesian Region (MSR), which focused on examining trends in accommodation and catering facilities, as a significant part of tourism services. The research area included trends and innovations in the field of services and the reaction of the offer of these services due to the change in the preferences of customers and visitors to these facilities. The main goal of the paper was to identify new trends in the offer of accommodation and catering services and to determine factors affecting repeat visit or purchase. Quantitative research using a questionnaire survey and qualitative research using structured interviews with business representatives in 2017 and 2020 was used and the results were compared. The opinions of visitors and representatives of the business on service quality indicators were compared. The dependence of service quality indicators related to repeat visits or service purchases was examined using the chi-squared test of independence. Evaluations of some service quality indicators did not confirm their dependence on repeat visits/purchases. Representatives of accommodation and catering services have a common opinion on the importance of specific indicators of service quality for repeat guest visits. The survey showed changes in the offer and quality of services of accommodation and catering companies in the Moravian Silesian Region due to changing preferences of the customers. The formulation of new trends in this part of the offer of tourism can serve as an inspiration for local entrepreneurs in the region and lead them to develop new products and introduce new services, to increase their business success and also to increase tourist attendance in the region.
- ItemCOMPARISON OF CREATIVE ACCOUNTING RISKS IN SMALL ENTERPRISES: THE DIFFERENT BRANCHES PERSPECTIVE(Technická Univerzita v Liberci, ) Drábková, Zita; Pech, Martin; Ekonomická fakultaSmall enterprises are exposed to new challenges in examining the impact of creative accounting on their financial statements, particularly when assessing ‘going concerned’ conditions and increasing the risk of fraud. The article aims to identify accounting errors and fraud risks made by accounting adjustments, thus distorting the true and fair presentation of financial statements. We aim to explore the risks of creative accounting based on the relationship between profit creation (EBT) and cash flow (CF) by applying the CFEBT risk triangle method. We analyze small enterprises operating mainly in the trade, processing, and construction industry to achieve this. The detected risks of accounting records were subsequently compared and evaluated in the selected branches of activities. Our research findings confirmed that M-score values were primarily negative for the monitored industries of small enterprises. The resulting values point to applying creative accounting methods – earning management, which pursues, in particular, tax optimization, and, on the other hand, the fulfilment of profitability criteria. A more profound analysis of selected accounting items and financial indicators confirmed more substantial differences between the trade and construction industries. Differences between the branches were found in one-half of the financial indicators and most of the 14 accounting items monitored. The accounting risks ascertained may be used as a tool for reducing the information asymmetry between authors of accounting records and users of reported accounting data and information. The detection and evaluation of risks of accounting errors and errors beyond the economic substance of reported data may considerably improve the quality of decision-making of internal and external users and is also used by persons authorized to conduct the administration and Corporate Governance for increasing the efficiency of enterprises’ internal control systems.
- ItemTHE COMPETENCY-BASED TRAINING & ASSESSMENT, AND IMPROVEMENT OF TECHNICAL COMPETENCIES AND CHANGES IN PEDAGOGICAL BEHAVIOR(Technická Univerzita v Liberci, ) Khan, Saba; Ahmed, Rizwan Raheem; Streimikiene, Dalia; Streimikis, Justas; Jatoi, Munsif Ali; Ekonomická fakultaThis research aims to analyze the improvement of technical competencies and changes in pedagogical behavior on competency-based training and assessment. We developed a modified conceptual model with the help of previous literature. We examined the impact of competency-based training & assessment on traditional teaching methodologies, practical teaching strategies, technical knowledge, and pedagogical & technical components as outcome variables. We also incorporated behavior & psychological aspects of teachers as mediators in our modified conceptual model and examined the mediation between exogenous and endogenous variables. We have collected the data of 458 respondents using a modified structured questionnaire from public and private teachers of Sindh technical and vocational institutions online from different regions of Sindh, Pakistan. For the data analyses, we employed SEM-based multivariate techniques. The findings exhibit that the direct relationship between competency-based training & assessment (independent variable) has a significant and positive influence on traditional teaching methodologies, practical teaching strategies, technical knowledge, and pedagogical & technical components as outcome variables. Similarly, the findings further concluded that behavior & psychological aspects are potent mediators between competency-based training & assessment and traditional teaching methodologies, teaching-learning abilities, practical teaching strategies, technical knowledge, and pedagogical & technical components as outcome variables. Hence, the behavior & psychological aspects of teachers is a vital factor that accelerates the impact of competency-based training & assessment on the dependent variables. The outcomes of this research are imperative theoretical and practical implications, which may guide the direction of future researchers and policymakers of vocational training and education.
- ItemDETERMINANTS OF CASH HOLDINGS: EVIDENCE FROM BALKAN COUNTRIES(Technická Univerzita v Liberci, ) Vuković, Bojana; Mijić, Kristina; Jakšić, Dejan; Saković, Dušan; Ekonomická fakultaThe purpose of this paper is to identify the determinants and indicate their impact on the company’s cash holdings in the wholesale industry in ten Balkan countries. Effective cash holdings management is key to any company’s healthy and smooth business operation, so comprehending and analyzing the relationship between the company’s internal determinants and cash holdings is vital. The sample used for this work included 106 companies, whose operations were studied over a four-year period (2014–2017), using the panel data model with fixed effects. The obtained results showed that three of the five observed variables (size, leverage, non-cash liquid assets, profitability and asset tangibility) have a statistically significant impact on the company’s cash holdings. It was determined that larger wholesale companies generally hold less cash, primarily due to more favorable external sources of financing, thus, financially stronger wholesale companies on the Balkans are likely to hold less cash. Only by practicing adequate inventory management and receivables collection policy can wholesale companies ensure effective working capital, leading to the fact that more profitable wholesale companies hold more cash. The realized profit of wholesale companies is used to increase liquidity as well as to stimulate business growth and development. The research results revealed that, in order to achieve an optimal cash holdings level, the observed wholesale companies in Balkan countries tend to constantly balance between profitability and liquidity. This paper contributes to improving the liquidity of wholesale companies in Balkan countries. It also offers wholesale companies assistance in establishing and maintaining an optimal cash holdings policy in order to reduce the potential risk of financial distress enable them to take advantage of all investment alternatives to maximize profit. All stakeholders will benefit from the developed model with significant determinants of the cash holdings policy along with the findings of this paper, especially when making decisions related to the cash holdings policy of wholesale companies and improving the overall business efficiency.
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