9th Annual Conference of the EuroMed Academy of Business: Innovation, Entrepreneurship and Digital Ecosystems, 2016
This paper focuses on the situation in Italy with specific reference to cooperatives. It aims to ... more This paper focuses on the situation in Italy with specific reference to cooperatives. It aims to analyse their economic situation - represented by two profitability ratios (ROI, ROE) - during the decade 2004-2013, that is before, during and after the crisis. Specifically, after an exploratory study, it wants to verify if there are statistically significant differences caused by geographical area and/or belonging business sector. With these aims and starting from secondary data on AIDA database (at the end 1,446 cooperatives), the trend analysis and analysis of variance (ANOVA) have been used. The findings show, at first, that the profitabilty of cooperatives has a very negative trend in any geographic area and business sector. So it is strong affected by crisis. Secondly, only the business sector affects the level of profitability. The analysis is interesting because income, in cooperatives, has a special meaning: it should in fact be added to benefiting members that are accounted for as \u203peculiar\u204 management costs
International Journal of Productivity and Performance Management
PurposeThis study illustrates the economic and financial dynamics of the sector, analysing the ev... more PurposeThis study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.Design/methodology/approachThe analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.FindingsThe study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.Research limitations/implicationsIn the future, other indices should be considered to gain a more comprehensive view. This is a quantitative ...
Restaurant businesses play a leading role in the economy of a tourist country. Traditionally the ... more Restaurant businesses play a leading role in the economy of a tourist country. Traditionally the destination of many foreign guests, Italy is also renowned for its excellent cuisine based on the Mediterranean diet. This paper analyzes the trend of two profitability indices of a sample of large Italian restaurants, related to the pre-pandemic period and in the COVID-19 year, 2020. For this purpose, financial statements from the AIDA database were used. Profitability was studied using RoE (return on equity) and RoS (return on sales). The study is related to the entire country and its three macro-regions (North, Center, and South with islands). The analysis showed a dramatic fall in the year of COVID-19 despite government interventions to support the business that has been subject to forced closures. The main limitation of this study is its purely quantitative nature limited to a sample of restaurants with annual revenues over €800,000. The results are useful to Italian and foreign entrepreneurs who can relate their situation to the average situation in the sector. In the future, the study should consider other profitability and asset indices, as well as investigate investments in sustainability, taking into account the role of restaurants which should contribute to the development of fair, ethical, and sustainable tourism.
En Italia, el sector del turismo fue uno de los más afectados por Covid 19, a pesar del important... more En Italia, el sector del turismo fue uno de los más afectados por Covid 19, a pesar del importante apoyo estatal. En 2020, se produjo un descenso de más del 50% en las reservas hoteleras, con una caída de los destinos de más del 80%. Aunque Italia es un país rico en atractivos artísticos y naturales, sigue siendo codiciada por los flujos de entrada, a pesar de la creciente competencia de nuevos destinos. El equilibrio económico-financiero de los hoteles se ha visto afectado. Este artículo está dedicado a un análisis detallado de la dinámica de los ingresos hoteleros, analizando la evolución decenal, tanto a nivel nacional como por macro zona, de dos índices (Roe y Roa) para una muestra significativa de empresas. Algunas elaboraciones estadísticas descriptivas apoyan el estudio cuantitativo, incluyendo las pruebas Anova y Tukey-Kramer. Los resultados muestran que la crisis pandémica ha reducido significativamente la rentabilidad. El documento contribuye al estudio de los efectos econ...
9th Annual Conference of the EuroMed Academy of Business: Innovation, Entrepreneurship and Digital Ecosystems, 2016
This paper focuses on the situation in Italy with specific reference to cooperatives. It aims to ... more This paper focuses on the situation in Italy with specific reference to cooperatives. It aims to analyse their economic situation - represented by two profitability ratios (ROI, ROE) - during the decade 2004-2013, that is before, during and after the crisis. Specifically, after an exploratory study, it wants to verify if there are statistically significant differences caused by geographical area and/or belonging business sector. With these aims and starting from secondary data on AIDA database (at the end 1,446 cooperatives), the trend analysis and analysis of variance (ANOVA) have been used. The findings show, at first, that the profitabilty of cooperatives has a very negative trend in any geographic area and business sector. So it is strong affected by crisis. Secondly, only the business sector affects the level of profitability. The analysis is interesting because income, in cooperatives, has a special meaning: it should in fact be added to benefiting members that are accounted for as \u203peculiar\u204 management costs
International Journal of Productivity and Performance Management
PurposeThis study illustrates the economic and financial dynamics of the sector, analysing the ev... more PurposeThis study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.Design/methodology/approachThe analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.FindingsThe study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.Research limitations/implicationsIn the future, other indices should be considered to gain a more comprehensive view. This is a quantitative ...
Restaurant businesses play a leading role in the economy of a tourist country. Traditionally the ... more Restaurant businesses play a leading role in the economy of a tourist country. Traditionally the destination of many foreign guests, Italy is also renowned for its excellent cuisine based on the Mediterranean diet. This paper analyzes the trend of two profitability indices of a sample of large Italian restaurants, related to the pre-pandemic period and in the COVID-19 year, 2020. For this purpose, financial statements from the AIDA database were used. Profitability was studied using RoE (return on equity) and RoS (return on sales). The study is related to the entire country and its three macro-regions (North, Center, and South with islands). The analysis showed a dramatic fall in the year of COVID-19 despite government interventions to support the business that has been subject to forced closures. The main limitation of this study is its purely quantitative nature limited to a sample of restaurants with annual revenues over €800,000. The results are useful to Italian and foreign entrepreneurs who can relate their situation to the average situation in the sector. In the future, the study should consider other profitability and asset indices, as well as investigate investments in sustainability, taking into account the role of restaurants which should contribute to the development of fair, ethical, and sustainable tourism.
En Italia, el sector del turismo fue uno de los más afectados por Covid 19, a pesar del important... more En Italia, el sector del turismo fue uno de los más afectados por Covid 19, a pesar del importante apoyo estatal. En 2020, se produjo un descenso de más del 50% en las reservas hoteleras, con una caída de los destinos de más del 80%. Aunque Italia es un país rico en atractivos artísticos y naturales, sigue siendo codiciada por los flujos de entrada, a pesar de la creciente competencia de nuevos destinos. El equilibrio económico-financiero de los hoteles se ha visto afectado. Este artículo está dedicado a un análisis detallado de la dinámica de los ingresos hoteleros, analizando la evolución decenal, tanto a nivel nacional como por macro zona, de dos índices (Roe y Roa) para una muestra significativa de empresas. Algunas elaboraciones estadísticas descriptivas apoyan el estudio cuantitativo, incluyendo las pruebas Anova y Tukey-Kramer. Los resultados muestran que la crisis pandémica ha reducido significativamente la rentabilidad. El documento contribuye al estudio de los efectos econ...
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