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Impact of the pandemic on the HoReCa industry in 2020

Author

Listed:
  • Adelina-Andreea Siriteanu

    (“Alexandru Ioan Cuza” University of Iasi, Iasi, Romania)

  • Erika-Maria Doacă

    (“Alexandru Ioan Cuza” University of Iasi, Iasi, Romania)

Abstract

Small and medium-sized enterprises in Romania, as well as those throughout the European Union, have been severely affected by the COVID-19 pandemic. This crisis has affected the HoReCa industry the most in the world, given that events and accommodations have been cancelled and restaurants closed. The main reason why this industry has suffered the most is the health regulations imposed by governments to limit the spread of the virus. This paper aims to make an analysis of 3 companies in this industry that are listed on the Bucharest Stock Exchange. Thus, we will use time series data for the period 2009-2020 in the EViews econometric software. The purpose of the analysis is to highlight the economic shock caused by the pandemic, as well as the solutions found by these companies to overcome this crisis. Thus, we will use the net result as a dependent variable, and we will use income and expenses as independent variables. The paper indicates that small and medium-sized enterprises in the field of HoReCa in Romania have been severely affected by the pandemic crisis, due to lack of access to finance, high unemployment, and declining incomes.

Suggested Citation

  • Adelina-Andreea Siriteanu & Erika-Maria Doacă, 2022. "Impact of the pandemic on the HoReCa industry in 2020," Journal of Financial Studies, Institute of Financial Studies, vol. 12(7), pages 185-200, May.
    • Handle: RePEc:fst:rfsisf:v:12:y:2022:i:7:p:185-200
    DOI: 10.55654/JFS.2022.7.12.12
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    References listed on IDEAS

    as
    1. Matthias Breier & Andreas Kallmuenzer & Thomas Clauss & Johanna Gast & Sascha Kraus & Victor Tiberius, 2021. "The role of business model innovation in the hospitality industry during the COVID-19 crisis," Post-Print hal-03514806, HAL.
    2. Alexander W. Bartik & Marianne Bertrand & Zoë B. Cullen & Edward L. Glaeser & Michael Luca & Christopher T. Stanton, 2020. "How Are Small Businesses Adjusting to COVID-19? Early Evidence from a Survey," NBER Working Papers 26989, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    pandemic; HoReCa industry; sustainability; financial market.;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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