DuPont analysis among European dentistry companies to measure the impact of the COVID-19 pandemic

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dc.contributor.authorHeryan, Tomáš
dc.contributor.authorGajdova, Karin
dc.date.accessioned2024-05-21T13:43:38Z
dc.date.available2024-05-21T13:43:38Z
dc.date.issued2024
dc.description.abstract-translatedAlthough health economics belongs to the highly respected economic disciplines within the research literature, there is a considerable gap related to the investigation of dentistry in particular, even after the global pandemic of COVID-19 disease. Fundamentally, the DuPont framework is a well-known complex analysis to evaluate companies from the point of view of financial performance. The investigation of the return on equity as a relation between the return on assets and the equity multiplier, simply called the leverage effect, is presented in this paper. Therefore, this study aims to estimate the effect of leverage and its changes due to the COVID-19 pandemic among dentistry companies in selected European countries with different healthcare insurance systems. This comparative investigation focused on the generalised method of moments with dynamic panel data from Orbis, the Bureau van Dijk financial database for 1,128 dentistry companies in nine European countries. Methodologically, concerning those post-estimation techniques to evaluate over- and underestimation of the models. It has been differentiating between companies with a high or low ownership concentration structure. The results have shown differences in the leverage effect during the pandemic, assuming that companies with a major owner increased their equity, while the debt leverage increased among those companies with dispersed ownership and vice versa. If economic theory states that debt financing is more effective for a company than using internal sources, it is apparently different in the case of dentistry during the pandemic. However, dispersed ownership is more often related to dentistry, according to mergers in this particular business industry.en
dc.format14 s.cs
dc.format.mimetypeapplication/pdf
dc.identifier.citationE+M. Ekonomie a Management = Economics and Management. 2024, roč. 27, č. 1, s. 161–174.cs
dc.identifier.doihttps://doi.org/10.15240/tul/001/2024-1-010
dc.identifier.issn1212-3609 (print)
dc.identifier.issn2336-5064 (online)
dc.identifier.urihttp://hdl.handle.net/11025/55528
dc.language.isoenen
dc.publisherTechnická univerzita v Libercics
dc.rightsCC BY-NC 4.1en
dc.rights.accessopenAccessen
dc.subjectfinanční výkoncs
dc.subjectdluhová pákacs
dc.subjectekonomika zdravotnictvícs
dc.subjectzdravotnických systémůcs
dc.subjectkoncentrace vlastnické strukturycs
dc.subject.translatedfinancial performanceen
dc.subject.translateddebt leverageen
dc.subject.translatedhealth economicsen
dc.subject.translatedhealthcare systemsen
dc.subject.translatedconcentration of ownership structureen
dc.titleDuPont analysis among European dentistry companies to measure the impact of the COVID-19 pandemicen
dc.typečlánekcs
dc.typearticleen
dc.type.statusPeer revieweden
dc.type.versionpublishedVersionen

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