THE OWNERSHIP STRUCTURE AS A CORPORATE GOVERNANCE MECHANISM IN SERBIAN HOTELS
Journal Title: UTMS Journal of Economics - Year 2010, Vol 1, Issue 1
Abstract
This article analyses the development in Serbien tourism sector during the last decade. The article is focused on the ownership structure and company performance in the light of corporate governance theory and the actuel privatisation process. Previous research has proven that Serbien state is a poor and pasive owner, whereas private owners and amployees are more active and more interested in their company’s economic performance. This article shows that the transition to private ownership in the Serbian hotels sector has not been finished. Consequently, state-owned and investment funds remain important owners of Serbien hotels. The financial performance of hotel companies is below average in the economy and can be correlated with the current ownership structure. Since the current ownership structure has a negative impact on the hotel sector competitiveness, an ownership change is needed to boost the sector’s competitivensess and the competitivensess of Serbia as tourist destination.
Authors and Affiliations
Pero Petrovic, Slobodan Cerovic
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TYPOLOGY OF RECREATIONAL-TOURISM RESOURCES AS AN IMPORTANT ELEMENT OF THE TOURIST OFFER
Tourism or the hospitality industry is among those economic activities that apart from realizing direct economic profits, it directly or indirectly impacts on the development of many other industries. Tourism through the...
Contents Vol.9 No.1
Contents
LEGAL FORMS OF MODERN DESTINATION MANAGEMENT ORGANIZATIONS AND THEIR INFLUENCE ON THE RANGE OF TASKS AND RESPONSIBILITIES
This article presents possible legal and organizational forms of modern destination management organizations (DMO) on the one hand, and their influence on the potential range of the tasks and responsibilities of these or...
SPECIFIC FORM OF SHORT-TERM FINANCING
The aim of this paper is to point out the significance and role of factoring as an alternative financing model, and its role in overcoming liquidity problems of business entities due to difficult and late payments as wel...