Attributes of Financial Management of Family Companies in the Czech Republic and Slovakia

Abstract Immovable property tax is one of the key elements of fiscal decentralization in the Czech Republic. It is the only tax that is directed to municipal budgets in the full amount. It is also the only tax the total receipts of which can be influenced by municipalities by means of corrective features. Although the significance of immovable property tax in the process of fiscal decentralization is undeniable, its role in municipal budgets is much discussed. The goal of the article is to evaluate the role of immovable property tax in budgets of Czech municipalities through its impact on the resulting balance of financial management of a particular municipality. The role of immovable property tax is assessed against its importance for the municipal budget. The data concerning financial management of municipalities, the amount of receipts of immovable property tax and the possibilities of utilization of the local coefficient in the year 2019 are analyzed in detail. The results identified by the analysis are compared with the situation in 2012 and it may be stated that although the role of immovable property tax in municipal budgets has decreased if compared with the year 2012, it still represents a significant income of Czech municipalities. At the same time, the current economic situation suggests that the importance of immovable property tax will increase in the years to come.

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The Impact of Fiscal Rules on the Financial Management of Municipalities: A Comparative Analysis of the Czech Republic and Slovakia

Local Public Finance ◽

10.1007/978-3-030-67466-3_7 ◽

2021 ◽

pp. 109-130

Author(s):

Juraj Nemec ◽

Daniel Klimovský ◽

Vladimir Šagát ◽

Michal Plaček ◽

Lucie Sedmihradská

Keyword(s):

Czech Republic ◽

Comparative Analysis ◽

Financial Management ◽

Fiscal Rules ◽

The Czech Republic ◽

The Impact

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Evaluation of Tax Incomes of Municipalities in Conditions of the Slovak and Czech Republics

Acta Universitatis Bohemiae Meridionalis ◽

10.1515/acta-2018-0003 ◽

2018 ◽

Vol 21 (2) ◽

pp. 16-27

Author(s):

Viera Papcunová ◽

Dana Országhová ◽

Radomíra Hornyák Gregáňová

Keyword(s):

Czech Republic ◽

Financial Management ◽

Fiscal Decentralization ◽

Slovak Republic ◽

Total Current ◽

Neoclassical Theory ◽

The Czech Republic ◽

Economic Entity ◽

Cumulative Data ◽

Long Time

Abstract The basis of neoclassical theory of fiscal policy is the significant rationality of economic subjects. Rationality results from the ability of these entities to optimize their decisions within a long time horizon, taking into account the activities of other entities, for example Government. An important economic entity is also municipalities and cities as representatives of local self-government. In most countries, fiscal decentralization has taken place in relation to local self-government which aim was reducing the local government's dependence on the state's financial management. Nevertheless, the state's incomes are still identifying as an important part of local budgets. The objective of the contribution is to evaluate the tax incomes of municipalities on the basis of selected indicators in the conditions of the Slovak Republic and the Czech Republic in the period 2009 - 2016. The basis for the analysis was cumulative data from municipalities in the Slovak Republic (2 890 municipalities) and cumulative data from municipalities in the Czech Republic (6 271 municipalities) processed in MS Excel. The analysis showed that incomes from tax of personal income represent on average over the analysed period 70% on tax incomes for municipalities in the Slovak Republic and 22% on tax incomes of municipalities in the Czech Republic. Within the structure of the current incomes of municipalities in the Slovak and Czech Republic, tax incomes represent an important component. At the level of municipalities in the Slovak Republic tax incomes represent on average over the analysed period 53% on total current incomes of municipalities and in municipalities in the Czech Republic tax incomes represent 52% on total current incomes of municipalities. Within the analysed period, we register a faster increase of the total current incomes in the municipalities in the Slovak Republic in comparison with the municipalities of the Czech Republic.

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Financial and Personal Issues of the Transferred State Administration Competencies in the Building Procedure to Municipality Offices

Acta Regionalia et Environmentalica ◽

10.2478/aree-2019-0009 ◽

2019 ◽

Vol 16 (2) ◽

pp. 45-52

Author(s):

Ivana Lichnerová

Keyword(s):

Czech Republic ◽

Financial Management ◽

Slovak Republic ◽

The State ◽

The Czech Republic ◽

State Administration ◽

Research Findings ◽

State Subsidies

AbstractThe aim of the paper is to draw attention to consequences of the transfer of competency at the level of the building procedure from state authorities to municipal offices in the Slovak Republic and the Czech Republic. The defined research objective was achieved firstly by conducting controlled interviews with representatives of the building offices in the Nitra Region and, secondly, by analysis of financing of this competency from the obtained data from publicly available sources in both states. Secondly, the paper includes a comparison of the financial management of the transferred competencies at the level of the building procedure between the Nitra Region (Slovakia) and the Pardubice Region (Czech Republic). By conducting controlled interviews in the Nitra Region, we came to the conclusion of the financial under-dimensioning of this competency. By comparing the amount of state subsidies provided for the building procedure in both regions, significant differences were found. Based on our research findings, we recommend reassessing the state subsidies for the transferred competency in the field of building procedure.

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Private equity and venture capitalists' investment criteria in the Czech Republic

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis ◽

10.11118/actaun201058060641 ◽

2010 ◽

Vol 58 (6) ◽

pp. 641-652 ◽

Cited By ~ 2

Author(s):

Marek Zinecker ◽

Jaroslava Rajchlová

Keyword(s):

Czech Republic ◽

Venture Capital ◽

Financial Management ◽

Private Equity ◽

Investment Decision ◽

Practical Experience ◽

Average Weight ◽

The Czech Republic ◽

Capital Financing

For investment decision making to be rational, the existence of investment criteria is required. In the theory of financial management, the effectiveness of investment is traditionally judged by the degree to which an investment proposal contributes to achieving the main financial goal of business, i.e. market value maximization of the firm.So far, potential businesses for Private Equity and Venture Capital financing in the Czech Republic have not had information regarding investment criteria and their significance, when considered by investors, at their disposal, which is due to absence of relevant research results.This article presents results of the research project whose aim is to establish which criteria are considered to perform an essential role in the selection of business proposals by firms investing Private Equity and Venture Capital in the Czech Republic as well as the most common reasons for rejecting the proposals. Based on practical experience of financing by Private Equity and Venture Capital, the research made it possible to identify the most significant criteria, namely characterization of management, market, product and the rate of investment capital appreciation. The results of the research are consequently compared with findings which were published in similar studies undertaken in the past (e.g. Tyebjee, Bruno, 1984; Fried, Hisrich, 1994; MacMillan et al., 1985, 1987; Muzyka et al., 1996; Eisele, 2002).The research supports the thesis that, when considering business proposals, above-average weight is attached to criteria concerning the characterization of management, i.e. experience and competencies in all stages of business life cycle. Nevertheless, the fulfilment of the criteria is not sufficient for investors to evaluate a business proposal positively. They also place an emphasis on selected criteria related to market and product. By publishing empirical data, an important signal regarding up-to-date evaluative criteria and their weight is sent to those interested in financing by means of Private Equity/Venture Capital as well as investors in Private Equity and Venture Capital funds and to investment companies.

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FINANCIAL MANAGEMENT OF ENTERPRISES IN THE CONTEXT OF LEGAL ENTITY INCOME TAX IN THE CZECH REPUBLIC

SGEM 2014 Scientific SubConference on POLITICAL SCIENCES, LAW, FINANCE, ECONOMICS AND TOURISM ◽

10.5593/sgemsocial2014/b22/s6.038 ◽

2014 ◽

Author(s):

Martina Cernikova

Keyword(s):

Czech Republic ◽

Financial Management ◽

Income Tax ◽

The Czech Republic ◽

Legal Entity

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The Use of Digitization in Small and Medium-Sized Agricultural Enterprises: Evidence from the Czech Republic

Journal of Digital Science ◽

10.33847/2686-8296.3.2_6 ◽

2021 ◽

Vol 3 (2) ◽

pp. 84-93

Author(s):

Martina Valentová ◽

Lilia Dvořáková

Keyword(s):

Czech Republic ◽

Financial Management ◽

Crop Production ◽

Point Of View ◽

World Population ◽

Economic Point ◽

The Czech Republic ◽

Agricultural Enterprises ◽

Analysis And Evaluation ◽

Secondary Sources

This paper presents the results of the research focused on the issues of digitization of agriculture in the context of current global developments and on the need to increase the amount of food produced in order to feed the continuously growing world population. The paper aims to analyze the use of the selected digitization tools in the crop production in the Czech Republic by small and medium-sized enterprises and to evaluate that from the economic point of view. To achieve the objectives, the desk research, the analysis and evaluation of secondary sources, and the method of directed interviews with managers and employees of the selected business entity were used. The research results evidence the positives and negatives of the use of the selected digitization tools within the crop primary production and represent the basis for further research aimed at the development of economic and financial management of small and medium-sized agricultural enterprises in the context of Agriculture 4.0 concept.

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