Acta turistica, Vol. 20 No. 2, 2008.
Izlaganje sa skupa
HOTEL OWNERSHIP STRUCTURE AS A COMPETITTVENESS FACTOR: THE CASE OF THE SLOVENIAN HOTEL INDUSTRY
Tanja Mihalič
orcid.org/0000-0002-8575-448X
; Faculty of Economics, University of Ljubljana, Slovenia
Ljubica Knezevic Cvelbar
; Faculty of Economics, University of Ljubljana, Slovenia
Sažetak
Ownership structure is an important corporate govemance mechanism and one of the many factors of company and sector competitiveness. This is particularly true for transition countries
which have undergone and are going through the privatisation process. Empirical evidence in developed and transition countries shows that a company's performance js strongly influenced by its ownership stmcture. The question arises of what kind of ownership structure can improve a company's performance.The paper researches the relationship between ownership structure and company performance in the Slovenian hotel sector. Previous research proves that the Slovenian state, directly and indirectly through state funds, is not enough efficient owner, whereas private owners and employees are more active and more interested in their company's performance. Research into the Slovenian hotel sector shows that the privatisation process has not finished and that state and investment funds consequently remain important owners of Slovenian 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 does not reveal sufficient performance potential, an ownership change is needed to boost both the sector's competitiveness and the competitiveness of Slovenia as a tourism destination.
Ključne riječi
ownership structure; destination competitiveness; company performance; Slovenia
Hrčak ID:
76290
URI
Datum izdavanja:
1.12.2008.
Posjeta: 2.642 *