COMPARATIVE STUDY OF FINANCIAL PROFITABILITY OF ROMANIAN TOURISM COMPANIES

Abstract

The objective of our paper is to examine the performance of companies in the Romanian tourism sector based on profitability indicators and to highlight the possible correlations between them. Financial performance was studied based on the average values of Return on Assets (ROA), Return on Equity (ROE) and Return on Sales (ROS) calculated over a 10-year period. Our analysis is focused on tourism companies listed on the Bucharest Stock Exchange, which obtained net profits throughout the period. The database was built on the annual financial reports for the period 2008-2017, available on the Bucharest Stock Exchange website and on the website of the Ministry of Public Finance.

Keywords

• Profitability ratios
• Tourism
• Financial performance
• Quantitative methods
• Pearson correlation