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The purpose of this study is to investigate the effect of the COVID-19 pandemic on key performance metrics of accommodation properties by elaborating on the roles of business models (i.e. franchised, chain-managed and independent hotels, and the sharing economy) and state-level restrictions in the US.

The pandemic is considered a variable interference against the average daily rate, occupancy and revenue per available room, which permits the examination of the before and after effects of the pandemic. The panel data model is used to examine the effect of the recent pandemic on the accommodation sector in the USA.

The results showed that chain-managed hotels were the most adversely impacted by the COVID-19 pandemic, while independent hotels were the least adversely impacted. Interestingly, and consistent with emerging consumer needs suggested by spatial distance theory, the pandemic does not have significant negative effects on Airbnb. The adverse impact of the pandemic on hotels was exacerbated in more restrictive states, while Airbnb remained immune to regulatory differences.

This study addresses the dearth of research on the types, roles and efficacy of business models in the accommodation industry and makes important theoretical contributions to the study of business model resilience in the accommodation industry, leveraging the resource-based theory of the firm and spatial distance theory.

The findings of this study make a significant contribution to the extant literature on the resilience of business models in the accommodation industry and have important implications for hotels, Airbnb owners, accommodation brands and destination and health policymakers. They demonstrate that a lower level of corporate control and greater flexibility in brand and operational standards allow for a more effective response to business disruptions such as a global pandemic.

Existing research has examined the results of women’s political leadership participation (WPLP) and the reasons for the lack of advancement of women to management positions. However, little research has been adopting a more comprehensive framework and configuration perspective to investigate the determinants of WPLP. By integrating institutional theory and institutional complementarities theory, this study aims to construct an institution–culture–structure framework to investigate the multiple driving mechanisms of WPLP.

Drawing on the fuzzy set qualitative comparative analysis method and a sample of 66 countries, the authors identify multiple equifinal combinations of conditions related to high and not-high levels of WPLP.

According to the results, the authors summarize five pathways influencing WPLP. These pathways include education and culture-driven pattern, political institutions-driven pattern, political institutions and structure-driven pattern, integrated-driven pattern and political institutions and culture restrictive pattern.

The authors shed new light on the driving mechanism of WPLP and contribute to research on making full out of women’s leadership.

Czechia is a small open economy and a member state of the European Union. Several important trends and episodes that have determined economic growth can be identified over the last two decades. This chapter deals with some macroeconomic features like macroeconomic and labour market performance within the business cycle, the Czech National Bank (CNB) exchange rate commitment and interest rate policy, increasing indebtedness and budget deficits, foreign trade and the international investment position. We applied publicly available data from Eurostat, the Organisation for Economic Co-operation and Development and CNB databases. The data show that the Czech economy was significantly converging to the average economic level of the European Union. We also identified key turning points in business cycles. Macroeconomic data on economic development of the economy indicate an atypical course of the business cycle between 2020 and 2022, which can be evaluated as different from the one that followed the global financial crisis.

For close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the impact such a unionised monetary regime will have on financial stability as represented by the nonperforming loan ratios of Ghana in a counterfactual framework.

This study models nonperforming loan ratios as dependent on the monetary policy rate and the business cycle. The study then used historical data to estimate the parameters of the nonperforming loan ratio response function using an Autoregressive Distributed Lag (ARDL) approach. The estimated parameters are further used to estimate the impact of several counterfactual unionised monetary policy rates on the nonperforming loan ratios and its volatility of Ghana. As robustness check, the Least Absolute Shrinkage Selection Operator (LASSO) regression is also used to estimate the nonperforming loan ratios response function and to predict nonperforming loans under the counterfactual unionised monetary policy rates.

The results of the counterfactual study reveals that the apparent cost of monetary unification is much less than supposed with a monetary union likely to dampen volatility in non-performing loans in Ghana. As such, the WAMZ members should increase the pace towards monetary unification.

The paper contributes to the existing literature by explicitly modelling nonperforming loan ratios as dependent on monetary policy and the business cycle. The study also settles the debate on the financial stability cost of a monetary union due to the nonalignment of business cycles and economic structures.

The amount of current assets and the structure of their financing within working capital management define the level of risk, liquidity and profitability of any company. This chapter identifies the type of working capital investment and financing policies and reveals their influence on the financial performance of Czech firms.

The type of investment policy was defined, based on the structure of current assets and the working capital-to-sales ratio, followed by the share of different liabilities in assets, used to determine the financing policy. The Orbis database provided the chapter with indexes of manufacturing, agricultural, construction and trade companies for the period of 2012–2021.

The results obtained revealed the liquidity and financial independence of all selected industries. Flexible investment and conservative financing policies in agriculture were accompanied by low profitability. The decrease of the working capital-to-sales ratio and the attraction of the current debts for assets financing provided a higher return on assets in the manufacturing, agricultural and trade sectors.

The purpose of this paper is to analyse the impact of Andalusia’s tourism promotion budgets and the efficiency of its campaigns from 2010 to 2022.

A mixed-methods approach is used. Tourism promotion budgets from 2010 to 2022 were measured as a supply indicator. Demand indicators (e.g. airport’s passenger arrivals, number of tourists and hotel occupancy rate) are analysed to measure tourism promotion budget impacts on them.

Tourism promotion budgets are a priority to stimulate tourism demand for Andalusia in times of uncertainly, and promotion campaigns are pivotal to attract and convert potential customers into actual tourists. Moreover, findings reveal that tourism promotion budgets had positive impacts on tourism demand. Whereas tourism promotion campaigns such as “Andalucía wants you back”, “Intensely”, Fitur, World Travel Market, ITB Berlin events and tourism advertising through digital channels have helped to improve tourism demand in Andalusia, ignoring the effects of the COVID-19 pandemic in the year 2020.

This study emphasizes how tourism promotion budgets and promotion campaigns must be constantly monitored by destination marketing organizations to measure the efficiency and effectiveness of assigned economic budgets and its return on investment.

The authors examine whether or not applicants and recipients of federal disability insurance (DI) inflate their self-assessed health (SAH) problems relative to others. To do this, the authors employ a technique which uses anchoring vignettes. This approach allows them to examine how various cohorts of the population interpret survey questions associated with subjective self-assessments of health. The results of the analysis suggest that DI participants do inflate the severity of a given health problem, but by a small but significant degree. This tendency to exaggerate the severity of disability problems is much more apparent among those with more education (especially those with a college degree). In contrast, racial minorities tend to underestimate severity ratings for a given disability vignette when compared to their white peers.

In the context of investment decisions, the intricate interplay between exogenous shocks and their influence on investor confidence significantly shapes their behaviors and, consequently, their outcomes. Investment decisions are influenced by uncertainties, exogenous shocks as well as the sentiments and confidence of investors, factors typically overlooked by decision-makers. This study will meticulously examine these multifaceted influences and discern their intricate hierarchical nuances in the sentiments of industrial entrepreneurs during the COVID-19 pandemic.

Employing the robust framework of the generalized linear latent and mixed models (GLLAMM), this research will thoroughly investigate individual and group idiosyncrasies present in diverse data compilations. Additionally, it will delve deeply into the exogeneity of disturbances across different sectors and regions.

Relevant insights gleaned from this research elucidate the adverse influence of exogenous forces, including pandemics and financial crises, on the confidence of industrial entrepreneurs. Furthermore, a significant discovery emerges in the regional analysis, revealing a notable homogeneity in the propagation patterns of industrial entrepreneurs' perceptions within the sectoral and regional context. This finding suggests a mitigation of regional effects in situations of global exogenous shocks.

Within the realm of academic inquiry, this study offers an innovative perspective in unveiling the intricate interaction between external shocks and their significant impacts on the sentiment of industrial entrepreneurs. Furthermore, the utilization of the robust GLLAMM captures the hierarchical dimension of this relationship, enhancing the precision of analyses. This approach provides a significant impetus for data-informed strategic directions.

This study clarifies the intricate nature of globalization's impact on unemployment rates in South Africa. Given the heterogeneous views on globalization's effect on economic development, this study aims to offer a nuanced perspective. Furthermore, it aims to explore the mediating role of entrepreneurial development in shaping the complex relationship between globalization and unemployment.

The study employs four key indicators to measure entrepreneurial development, globalization and unemployment rates in South Africa. Hierarchical regression is used to evaluate the relationship between globalization and unemployment rates, and how entrepreneurial development mediates this relationship. Additionally, both the Sobel test and bootstrapping analyses were employed to verify and validate the mediating relationship.

The study demonstrates that globalization constitutes a crucial determinant of (un)employment rates in South Africa. The study shows that entrepreneurial development, specifically in the context of established business ownership, but not total early-stage entrepreneurial activity, exhibits an inverse relationship with unemployment rates. Moreover, it was observed that the positive impact of globalization on entrepreneurial development in South Africa becomes evident as SMEs advance to the established stage.

The study's concentration on South Africa constrains the applicability of the results to other nations.

Based on the findings of this study, it is essential for emerging economies, such as South Africa, to take measures to foster a robust entrepreneurial ecosystem that can aid in the growth and international competitiveness of young SMEs.

To the best of the authors' knowledge, this study represents the first endeavor to analyze the potential impact of entrepreneurial development, as measured by both nascent and mature SMEs, on the correlation between globalization and unemployment.