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The COVID-19 pandemic has fundamentally changed the business environment in many sectors. This study analyzes how the pandemic and the resulting global economic crisis have influenced changes in management. The aim was to explore changes in the dominance of management functions through the lens of economic managers in various companies. A case study approach was adopted to achieve the research objective. The sample file consisted of 238 managers from various operational fields in the Slovak Republic. A new methodology was created to measure the overall changes. An indicator of the rate of change in the dominance of the management functions was calculated. The index consists of two factors: changes in the time devoted to each management function during the pandemic, and changes in the importance of basic activities performed within the individual management function. This study provides an overview of all industries and describes the changes in the context of a company's revenue development during the pandemic. It was discovered that the centralization of strategic decision making was significantly underestimated. Up to 78.69% of managers working in companies whose revenues decreased during the pandemic increased the time devoted to planning, and 90.98% of them decreased the time devoted to leading people. © 2023 by the authors.
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The tourism sector was among the most affected sector during the COVID-19 pandemic and has lost up to USD 5.87 billion potential revenue. Since many countries closed the borders, including Indonesia, by applying travel restrictions and thus tourists postponed their visits. Whereas vaccine distribution has shown good progress as the vaccination percentage in Jakarta and Bali has shown promising results since the majority of its population has been vaccinated, and it helps many industries, including tourism, recover. However, the pandemic might change tourist behavior. In addition, information about tourist destinations is spread poorly in various sources, and it psychologically affects tourists' decision to visit. Many works have been published to address this issue with the recommendation system. However, it does not provide geopolitical variables such as PPKM in Indonesia to ensure safeness for the tourist. Therefore, this research aims to enhance innovations in the tourism industry by considering the geopolitics factor into the system using Multiple Linear Regression. The result of this research demonstrates the effectiveness of geopolitics added variable on three different cities Jakarta, Java, and Bali. It can be implemented in a wide area in Indonesia. For further research, the proposed model can be used in a wide area in Indonesia and developed for a more comprehensive recommendation system. © 2022 IEEE.
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The economic turmoil and restrictions on human movement precipitated by the COVID-19 pandemic severely impacted conservation efforts. Many conservation actors rapidly implemented various adaptive measures in response to the cessation of the nature-based tourism industry, the primary revenue source for much of conservation in sub-Saharan Africa. This timely preliminary study examined the innovative use of virtual safaris, a form of virtual nature-based tourism, as an adaptive response to the crisis. Eight in-depth semi-structured interviews and two written responses from a range of ‘conservation operators' provided insight into motivations, benefits, and challenges associated with using virtual safaris. This novel study found three mechanisms through which virtual safaris helped to alleviate the effects of COVID-19 with the potential to develop conservation resilience: 1) as a stopgap measure, 2) for revenue diversification, and 3) as a means of scaling ecosystem services. Virtual safaris provided a critical lifeline for conservation operators, created a new tool to connect with distant audiences, and strengthened relationships with donors. However, this research highlighted a need to re-evaluate the role of sustainable tourism within conservation, with transformative changes essential to enhance future conservation resilience.
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Policymakers were surprised to find increases in sales tax revenues in 2020 due to expectations that they would drop 8-20%. We investigate this puzzle and provide novel insights into consumption taxes based on this experience. Using a case study from the State of Utah, we document that shifts in the structure of consumption played a significant role in the robustness of sales tax revenue. Two factors stand out in our results. The first factor is the structure of the tax base for sales taxes in the USA. This tax base covers only a subset of personal consumption, excluding, for example, many services. During the pandemic, when services were restricted or shut down, this caused a shift in spending toward goods that are more likely to be in the sales tax base. The second factor is the boom in e-commerce during the pandemic, which boosted sales tax collections. This was catalyzed by recent legal changes that made the collection of sales taxes in e-commerce easier. Interestingly, this e-commerce boost also shifted the point of sale and related sales tax revenues away from urban areas toward suburban areas. Our case study of the pandemic's effect on sales taxes in the USA generally, and Utah's experience specifically, provides lessons for consumption taxes, such as the VAT more broadly, and lessons on the role of consumption taxes for tax revenue volatility.
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Background: During the pandemic of COVID-19, the function and performance of hospitals have been affected by various economic-financial and management aspects. The aim of the current study was to assess the process of therapeutic care delivery and also the economic-financial functions of the selected hospitals before and after COVID-19. Methods: This research is a descriptive-analytical study and a cross-sectional-comparative study in terms of time, and it was conducted in several selected teaching hospitals of Iran University of Medical Sciences. A purposeful and convenient sampling method was used. The data has been collected using the standard research tool (standard checklist of the Ministry of Health) in the two areas of financial-economic and healthcare performance (such as Data of financial and economic indicators such as direct and indirect costs, liquidity ratio and profitability index as well as key performance indicators of hospitals such as bed occupancy ratio (BOR; %), average length of stay (ALOS), bed turnover rate (BTR), bed turnover distance rate (BTIR) and hospital mortality rate (HMR), physician-to-bed ratio and nurse-to-bed ratio) of hospitals in two times before and after the outbreak of COVID-19 (time period 2018 to 2021). The data was collected from 2018 to 2021. Pearson/Spearman regression was used for the evaluation of the relationship between variables using SPSS 22. Results: This research showed the admission of COVID-19 patients caused a change in the indicators we evaluated. ALOS (-6.6%), BTIR (-40.7%), and discharge against medical advice (-7.0%) decreased from 2018 to 2021. BOR; % (+5.0%), occupy bed days (+6.6%), BTR (+27.5%, HMR (+50%), number of inpatients (+18.8%), number of discharges (+13.1%), number of surgeries (+27.4%), nurse-per-bed ratio (+35.9%), doctor-per-bed ratio (+31.0%) increased in the same period of time. The profitability index was correlated to all of the performance indicators except for the net death rate. Higher length of stay and turnover interval had a negative effect on the profitability index while higher bed turnover rate, bed occupancy ratio, bed day, number of inpatient admission, and number of surgery had a positive effect on the profitability index. Conclusion: It has been shown from the beginning of the COVID-19 pandemic, the performance indicators of the studied hospitals were negatively affected. As a consequence of the COVID-19 epidemic, many hospitals were not able to deal with the negative financial and medical outcomes of this crisis due to a significant decrease in income and a double increase in expenses.
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This study investigates the effects of receipt and anticipation of intergovernmental revenues on local governments draw on accumulated fiscal reserves to cushion the impacts of COVID-19-related fiscal stress. Several studies have been conducted on determinants of fiscal reserves accumulation. However, little is known about the determinants of government draw on fiscal reserves, beyond revenue shortfall, in times of fiscal stress. Dwelling on the premise that government's draw on fiscal reserves is influenced by factors beyond revenue shortfall and controlling for the effects of revenue shortfalls and other factors, we analysed local government survey data to determine the effects of intergovernmental revenue on government draw on fiscal reserves. Results show that draw on fiscal reserves is significantly constrained by percent of FY 2020 revenue received from federal and state governments, but significantly and positively inluenced by revenue losses and percent of FY 2021 revenue anticipated from federal government.
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Flight demand forecasting is a particularly critical component for airline revenue management because of the direct influence on the booking limits that determine airline profits. The traditional flight demand forecasting models generally only take day of the week (DOW) and the current data collection point (DCP) adds up bookings as the model input and uses linear regression, exponential smoothing, pick-up as well as other models to predict the final bookings of flights. These models can be regarded as time series flight demand forecasting models based on the interval between the current date and departure date. They fail to consider the early bookings change features in the specific flight pre-sale period, and have weak generalization ability, at last, they will lead to poor adaptability to the random changes of flight bookings. The support vector regression (SVR) model, which is derived from machine learning, has strong adaptability to nonlinear random changes of data and can adaptively learn the random disturbances of flight bookings. In this paper, flight bookings are automatically divided into peak, medium, and off (PMO) according to the season attribute. The SVR model is trained by using the vector composed of historical flight bookings and adding up bookings of DCP in the early stage of the flight pre-sale period. Compared with the traditional models, the priori information of flight is increased. We collect 2 years of domestic route bookings data of an airline in China before COVID-19 as the training and testing datasets, and divide these data into three categories: tourism, business, and general, the numerical results show that the SVR model significantly improves the forecasting accuracy and reduces RMSE compared with the traditional models. Therefore, this study provides a better choice for flight demand forecasting.
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In 2022, the COVID-19 epidemic significantly affected the effective supply of films in China, whereby the market fluctuated, and box-office sales decreased. However, China's resilient film industry continued to persevere with quality products being released. New government policies were launched to help the industry's enterprises alleviate their difficulties. Due to these policies, film enterprises endured to reduce costs, increase efficiency, and survive the difficult times. While the top-grossing films supported the market, a number of small and medium budget films were successful, with the reputation of young filmmakers growing rapidly. Creating healthy industry ecology, rebuilding the confidence of practitioners, giving full play to the main role of the market, increasing the effective supply of diversified products, and promoting the vertical and horizontal integration of film within other industries are of great significance to the recovery of both the Chinese film industry and its market in the post-epidemic period. © 2023 Walter de Gruyter GmbH, Berlin/Boston.
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PurposeThe main objective of this study is to examine the impact of the COVID-19 pandemic on earnings management practices in China using a sample of family and non-family enterprises. More specifically, this study aims to examine whether the COVID-19 pandemic causes variation in Chinese listed family and non-family enterprises' operations, as reflected in the level of real earnings management (REM).Design/methodology/approachThis study uses three standardised REM indicators, namely, the abnormal level of cash flows from operations, the abnormal level of production costs and the abnormal level of discretionary expenses. Ordinary least squares (OLS) regressions are applied to compare the earnings management of Chinese family and non-family enterprises during the pre-pandemic period (2017–2019) and the pandemic period (2020).Findings The authors find that Chinese listed non-family enterprises tend to participate in more REM activities than family enterprises before the COVID-19 outbreak. However, the opposite is true during the pandemic. The authors also find that COVID-19 has increased the involvement of family and non-family enterprises in REM activities.Originality/valueThe results of previous studies based on REM using Chinese listed firms may not be applicable under the new social background of COVID-19. As the period after the COVID-19 outbreak is relatively recent, Chinese researchers have yet to study it comprehensively. The present study is amongst the first empirical attempts investigating the effect of a pandemic financial reporting by investigating whether and how the burst of the COVID-19 crisis affected financial reporting through the earnings management practices of listed Chinese family and non-family enterprises. Such information is crucial because it can provide analysis for all stakeholders to make better decisions.
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The purpose of the paper is to examine the financial health of selected public universities in Malaysia. The study assessed the performance of Malaysian research universities, on the primary reserve ratio, viability ratio, return on net asset ratio and net operating revenue ratio, as well as the Hirschman-Herfindahl Index for revenue diversification from 2010 to 2020. Results suggest poor financial health, high dependence on government funding and revenue volatility. Several universities recorded consecutive financial deficits in recent years. Third-stream revenues are low, and the universities are struggling to generate the 25% self-generated revenue target set by the government. This paper provides longitudinal empirical data on the financial health of public universities and has important implications for policymakers and university management in budget allocation and financial management decisions, particularly given the adverse financial impacts of the COVID-19 pandemic. [ FROM AUTHOR] Copyright of Journal of Higher Education Policy & Management is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)
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This chapter outlines the approach of Expedia Group, the world's travel platform, and the role of technology in revolutionizing travel search, discovery, and booking. It covers innovations developed by online travel agencies (OTAs) and the unique challenges and opportunities provided by the breadth and depth of the data that global OTAs leverage to power travelers' online experiences. The focus is on accommodation, the largest revenue-generating, and most complex tourism segment. The chapter explores specific use cases where data are brought together with leading and innovative machine learning methodologies to improve traveler and supplier experiences. They include recommender systems, machine learning models that help Expedia Group manage the text and image content for over a million properties and revenue management systems for accommodation providers. The chapter concludes with a comment on the Expedia Group COVID- 19 response. © Springer Nature Switzerland AG 2022.
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Small and medium-sized enterprises (SMEs) are suffering heavily from the Covid-19 pandemic. Pincode Telenet International (PTI) is a small company providing software solutions to the utility sector in the Netherlands. Its revenue depends entirely on outsourcing contracts given by utility providers. When the market environment is disrupted by the Covid-19 outbreak and its lasting impact, PTI is confronted with a 35% drop in revenue and many uncertainties. This case illustrates how PTI copes with uncertainties by focusing on one certainty: the available resources. The resource-based coping strategy presented in this case engages students to reflect on how different resources can be used to strengthen collaborations and expand a customer base. It thus advances our understanding of opportunity recognition and entrepreneurial behaviour in times of crisis.
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In the early months of 2020, pandemic covid-19 hit many parts of the world. Especially developing countries like India observed a negative growth rate in few quarters of last financial year. Retailing is one of the key sectors that contribute to Indian GDP with a share of nearly 10 percent. Hence there is a need for the retail sector to bounce back which is possible with the efficient use of new digital technologies. Market basket analysis is used here to extract the association rules which can be directly used for formulating discount and combo offers. Along with that, these rules can be used to decide the product positioning in the retail store. Items which are bought together can be placed next to each other to increase sales. Recommendation systems are most commonly used in ecommerce websites like Amazon, Flipkart, etc, and streaming platforms like Netflix to recommend the items that are to be purchased by users. Although recommendation engines are implemented in multiple web and mobile applications, these are not in the implementation stage in offline retail stores due to many implications associated with them like infrastructure, cost, etc. In this project, we have used market basket analysis and recommendation systems to propose a model to implement in retail stores to increase sales revenues and enhance customer experience. © 2022 IEEE.
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Purpose: The objective of this study is to analyze the effects of adopting CPC 47 on the level of the earnings management of companies listed in the Brazilian capital market. Methodology: The sample used in this study is composed of 207companies listed in B3 in the observation period 2012-2021 totaling 2070 observations. The approach is quantitative, using multiple linear regression with balanced panel data. Dechow, Hutton, Kim and Sloan (2012) and Kothari, Leone and Wasley (2005) models were used to improve the discretionary accruals and an earnings management model with control and interest variables. Results: The results did not confirm the hypothesis that the adoption of CPC 47 affected the level of results management in the analyzed period but showed that indebtedness and operating cash flow explain discretionary accruals, regardless of the adoption of the pattern of revenue recognition. This evidence about earnings management increased with the adoption of CPC 47 was contrary to Baldissera, Gomes, Zanchet and Fiirst (2018), however, according to the findings of Grecco (2013), Jewel and Nakao (2014) and Braga (2020) in relation to the effects of accounting standards. The results indicate that companies with higher operating cash flow can generate accounting information with better quality regardless of the effects of the adoption of CPC 47. The period of the coronavirus pandemic did not significantly affect earnings management levels. Contributions of the Study: As a contribution, the study expands the theoretical knowledge about the effects of CPC 47 on earnings management. Additionally, in a practical way, it collaborates with regulatory organs, auditors, executives, stakeholders and the financial market in general.
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The SARS-CoV-2 pandemic has had a significant impact on rail operations worldwide. Adopting control measures such as a 50% occupancy rate can contribute to a safer travel environment, though at the expense of operational efficiency. This paper addresses the issues of social distancing and revenue maximization for a train operating company in a post-pandemic world. Although the two objectives appear to be highly contradictory, we believe that judicious planning can optimize both to a great extent. Existing research on social distancing on public transport has only considered the risk of virus transmission during travel. This is the first attempt to recognize the risk of virus spread in different cities along with transmission risk as part of developing a social distancing plan. We study the problem of assigning seats to passenger groups on long-distance trains while ensuring social distancing within coaches. A novel seating assignment policy is proposed that takes into account several factors that govern the spread of virus. In an effort to reduce the spread of the virus and improve revenue simultaneously, a mixed-integer programming (MIP) model is proposed to assign seats to passengers. Several families of valid inequalities and preprocessing steps are proposed to strengthen the MIP formulation, which represents a substantial contribution to the literature on group seat assignment problem. The validity of the model and the effectiveness of the valid inequalities have been evaluated using real-life data from Indian Railways. The computational results demonstrate a significant reduction in the risk of contagion and an increase in seat utilization compared to the current approach employed by operators.
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Single Audits Pre-COVID-19 The Single Audit Act requires that audits be performed annually, except for certain entities that have been grandfathered in for biennial audits, on behalf of all federal agencies by independent accounting firms or by individual states' internal auditors. Most of these awards were granted in 2021;however, this program was not included in the 2021 OMB Supplement. [...]auditors had to determine which compliance requirements needed to be tested using Part 7 and Part 3 of the supplement. Typically, the audit threshold for a single or program-specific audit of federal awards is based on expenditures. Because for-profit entities are not required to adhere to the audit requirements in 2 CFR Part 200, the SBA has the flexibility to define audit requirements and thresholds specific to the SVOG program. [...]the SBA has defined the audit threshold for a for-profit entity that has received an SVOG award based on the GAAP principle of revenue recognition, specifically applied to recognition of an SVOG award.
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This article attempts to answer the followed research question: how did the restaurants innovate their business model in order to adapt it to the COVID crisis?. A study of two cases shows that the activities, the resources and skills, the revenue model, and the beneficiaries have been transformed even sometimes reinforced in order to keep the business on. In the two cases, the inner resources were mobilised and the offer was changed. As regards the suppliers, their profiles have been changed because of the take away offer which pushed the restauranteurs to have new recipients and new materials in order to adapt their offer. © 2022, Academic Conferences and Publishing International Limited. All right reserved.
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This review paper consists of details about Bangladesh's total revenue from tourism with the actual figure, investment amount, employment status, and roles of government and private organizations in the tourism and hospitality industry. The chapter also shows data from different sources like Bangladesh Tourism Board (BTB), Bangladesh Parjatan Corporation (BPC), World Travel and Tourism Council (WTTC), United States Agency International Development (USAID), National Board of Revenue (NBR) and different ministries of the Government of Bangladesh (GOB). The chapter finds new steps that are taken to make the tourism industry more attractive. New infrastructure, projects, and marketing activities that are currently done by government and private organizations are also mentioned. Effects of COVID-19 on Bangladesh's tourism was also focused with detailed statistics about total job loss, and industry-wise revenue loss. Other barriers and shortcomings that stop international tourists from coming to the country and resulting in low revenue collection were also identified. Recommendations were made based on former research results and observations from news portals, journals, and other sources. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021.
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Digital media platforms in Uganda experimented with subscription-based models as an alternative to the traditional advertising model and as a recovery plan from the effects of COVID-19. Drawing from the theory of the political economy of the media, this study focusses on the critical success factors for subscription-based models in digital media platforms, audience consumption habits vis-a-vis payment for content, the effect of paywalls on the company financials and finally, establish the barriers to subscription uptake in Uganda. Media started charging users subscription fees for content in the 1990s (Chyi, 2005). Technological advances changed audience consumption habits from consuming hardcopy newspapers to accessing content on the go through their smartphones, tablets, and computers (Berger, Matt, Steininger, & Hess, 2015). Whilst some consumers pay for content, several audience surveys in East Africa indicated a lack of consistency among the paying audiences (KARF, 2019). Most consumers never purchased subscription and were avert to paywalls. The study used a mixed-method approach to find that the increase in internet penetration in Uganda and smartphone usage were the most significant enablers of paidcontent consumption in Uganda. The quality of content, poor packaging, and unfair prices by publishers were the biggest barriers to consumption of paid news content. © 2022 by Alex Taremwa.
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In striving to slow the spread of the COVID-19 pandemic, governments across the globe acted quickly to implement various "stay-at- home" orders and bans on all "non-essential activities." While these actions were likely effective in slowing the spread of the virus, the economic impacts were felt almost immediately. The US deficit rose to $3.1 trillion following massive spending to aid individuals and small businesses. Internationally, governments have been increasing their debt loads to combat both the health and financial impacts of the pandemic. Indeed, by the end of 2020, the international debt load increased to a record-breaking $281 trillion. Almost as quickly, various proposals have been offered regarding how to mitigate this pandemic-fueled deficit. One solution offered is the return of a historical tax scheme-an excess profits tax. Excess profits taxes have historically been applied both domestically and internationally during times of war. Although there are variations in how an excess profits tax is calculated, traditionally, an excess profits tax is applied to those companies who earn returns in excess of a set "normal" rate of return.