scholarly journals Firm-specific factors and financial performance of firms in the Czech Republic

2013 ◽  
Vol 61 (7) ◽  
pp. 2183-2190 ◽  
Author(s):  
Pathirawasam Chandrapala ◽  
Adriana Knápková
Keyword(s):  
Czech Republic ◽  
Financial Performance ◽  
Statistical Power ◽  
Negative Impact ◽  
Positive Impact ◽  
Return On Assets ◽  
Cross Sectional ◽  
The Czech Republic ◽  
Specific Factors ◽  
The Impact

The objective of this study is to investigate the role of internal factors in generating financial performance of firms in the Czech Republic. The paper examines the impact of firm specific factors on company financial performance of 974 firms in the Czech Republic over the period 2005 to 2008, using data in the Albertina database. Pooled and panel cross-sectional time series techniques are used for the data analysis. Return on Assets (ROA) is the dependent variable of the model and eight firm specific factors are introduced as the explanatory variables. Using Return on Assets as the dependent variable, it is established that the firm size, sales growth and capital turnover are having significant positive impact on financial performance of firms. At the same time, debt ratio and inventory reflect significant negative impact on financial performance of firms. Overall explanatory powers of the two models are low and further research is necessary to increase the statistical power of the model. The results from the present study may be very encouraging and useful for managers as well as investors to plan investment and operational activities to achieve profitability objectives more efficiently and effectively. The findings have important managerial implications.

scholarly journals Working Capital, Financing Constraints and Firm Financial Performance in GCC Countries

2015 ◽  
Vol 7 (3) ◽  
pp. 59-64
Author(s):  
Sree Rama Murthy
Keyword(s):  
Financial Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Corporate Financial Performance ◽  
Working Capital ◽  
Return On Assets ◽  
Firm Financial Performance ◽  
Capital Financing ◽  
Gross Margins ◽  
The Impact

This paper looks at the impact of level of working capital on a firm’s financial performance of 153 large manufacturing firms operating in the six Gulf Cooperation Council Countries (GCC).Three hypotheses being tested in the paper are that working capital levels and inventory levels have a negative impact on corporate financial performance, have a positive impact on corporate financial performance, or that there is no empirically provable relationship between working capital and inventory and financial performance. A number of control variables including firm size, gross margins, and age of the firm are used in the regression analysis, as financial performance is not purely dependent on working capital and inventory levels. Pre-tax return on assets (ROA-profit before tax divided by total assets) is used to measure corporate financial performance. Performance is strongly influenced by levels of accounts receivables; however inventory levels and payables have no impact on performance.

scholarly journals Microbial Contamination of Photographic and Cinematographic Materials in Archival Funds in the Czech Republic

2022 ◽  
Vol 10 (1) ◽  
pp. 155
Author(s):  
Sabina Purkrtova ◽  
Dana Savicka ◽  
Jana Kadava ◽  
Hana Sykorova ◽  
Nikola Kovacova ◽  
...  
Keyword(s):  
Czech Republic ◽  
Bacterial Contamination ◽  
Microbial Contamination ◽  
Negative Impact ◽  
Positive Impact ◽  
Fungal Contamination ◽  
Sensitive Layer ◽  
The Czech Republic ◽  
Polyurethane Sponge ◽  
The Impact

In this study we investigated the microbial contamination of 126 samples of photographic and cinematographic materials from 10 archival funds in the Czech Republic. Microorganisms were isolated from the light-sensitive layer by swabbing it with a polyurethane sponge. Microbial isolates were identified by MALDI-TOF MS (bacteria) or by phenotype testing and microscopy (fungi). Bacterial contamination was more abundant and more diverse than fungal contamination, and both were significantly associated with archives. The most frequently isolated fungal genera were Cladosporium, Eurotium, Penicillium, Aspergillus and Alternaria. The most frequently isolated bacteria were Gram-positive genera such as Staphylococcus, Micrococcus, Kocuria, Streptococcus and Bacillus. This bacterial and fungal diversity suggests that air is the main vehicle of contamination. We also analysed the impact of the type of material used for the carrier (paper, baryta paper, cellulose acetate and nitrate or glass) or the light-sensitive layer (albumen, gelatine, collodion and other) on the level and diversity of microbial contamination. Carriers such as polyester and cellulose nitrate may have a negative impact on bacterial contamination, while paper and baryta paper may have a partially positive impact on both fungal and bacterial contamination.

scholarly journals Corporate Governance And Its Effect On Firm Performance In An Emerging Economy

2022 ◽  
Vol 2 (3) ◽  
pp. 281-291
Author(s):  
Langa Esmael KAREM ◽  
Hawkar Anwer HAMAD ◽  
Hakar Abubakir BAYZ ◽  
Naji Afrasyaw FATAH ◽  
Diary Jalal ALI ◽  
...  
Keyword(s):  
Financial Performance ◽  
Business Processes ◽  
Board Members ◽  
Board Composition ◽  
Return On Assets ◽  
Board Size ◽  
Cross Sectional ◽  
The Impact ◽  
The Relationship ◽  
Board Ownership

Having a board of directors is very important to ensure the smooth running of business processes and have an impact on the company's financial performance. This study to determine the impact of board characteristics namely board size, board ownership and board composition on the financial performance of organizations as measured by Return on Assets. The study employed a descriptive-explanatory research design based on a cross-sectional approach. Correlation and regression analyses were conducted to determine the depth and extent of the relationship between the variables. The study revealed a positive and significant association between the board size and financial performance on an average of 9 board members. Board composition revealed that having more external directors had no effect on the financial performance, it neither increased it nor decreased it, leading to the rejection of the hypothesis. On the other hand, board ownership was found to be beneficial in terms of having directors as owners of the business, corroborating the Stakeholder Theory. The studies showed that there was still a need to select board members with caution striking a balance between the number of directors as well as their composition to ensure that the organization reaps maximum benefits from the board.

scholarly journals The effect of business strategies on financial performance – An applied study on Saudi joint stock companies –: أثر استراتيجيات الأعمال على الأداء المالي – دراسة تطبيقية على الشركات المساهمة السعودية –

2021 ◽  
Vol 5 (17) ◽  
pp. 166-146
Author(s):  
Tariq Hassan Alzahran Tariq Hassan Alzahran
Keyword(s):  
Financial Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Business Strategies ◽  
Survey Method ◽  
Financial Reports ◽  
Differentiation Strategy ◽  
Industrial Companies ◽  
Comprehensive Survey ◽  
The Impact

The study aimed to identify the impact of business strategies on financial performance in Saudi joint stock companies, and used the descriptive analytical method, and the study community is of all the industrial companies listed on the Saudi capital market and the 81 companies, and the sample of the study became after excluding companies whose data are not available during the study period (73) companies. Corporate financial reports were collected from 2010 to 2019, and the data was analysed using Panel data, based on the statistical method represented in the Multi- Regression. The comprehensive survey method of industrial companies in Saudi Arabia was used, and the study found that there was no impact of the product differentiation strategy on the financial performance of Saudi industrial companies, and that there was no impact of the cost leadership strategy on the financial performance of Saudi industrial companies. The size of the company also has a positive impact on the rate of return on ownership, leverage negatively affects financial performance, and the company's life has a negative impact on financial performance. The study recommends future studies to increase the size of the sample and study all Saudi companies to ascertain the impact of business strategies on the performance of companies, and recommended companies to reduce indebtedness and leverage, so that the strategies provided by serving companies in raising financial performance, and working on the application of strategies in a scientific manner so that they have a positive impact on the performance of companies.

Interfunctional Coordination at Hi-Tech Firms

2012 ◽  
Vol 23 (1) ◽  
pp. 70-76 ◽  
Author(s):  
Lucie Kanovska ◽  
Eva Tomaskova
Keyword(s):  
Czech Republic ◽  
Market Orientation ◽  
Business Performance ◽  
Positive Impact ◽  
External Environment ◽  
New Method ◽  
Mutual Cooperation ◽  
The Czech Republic ◽  
The Impact ◽  
A Company

The paper is focused on the determination of new knowledge about interfunctional coordination. Interfunctional coordination was defined at the beginning of 90s. It is the coordination of all company activities leading to the increase of business performance. Interfunctional coordination is connected with market orientation. It is one of necessary principle of market orientation. It is not possible to use market orientation without interfunctional coordination. Market orientation is based on marketing conception. The first detailed studies were offered by Kohli and Jaworski (1990) and Narver and Slater (1990). Market orientation is described as a method helping to contribute better managing of a company by many researchers. A lot of papers on this topic were publicized during the last two decades. The earliest papers involved the first definitions of market orientation; offered methods for its measuring; and investigated the impact of market orientation on business performance. The last attitudes towards market orientation agree that market orientation enables managers to focus on external and internal elements and activities, which influence the activity of a company leading to its performance increase (Tomaskova, 2009). At present, we have a lot of methods used for the measuring of market orientation. Using a proper method depends on the branch or economic system. The perception of the implementation of market orientation is changing during the period, as well. However, the main principle is still the same – market orientation has a positive impact on business performance. Nowadays, a lot of authors deal with the implementation of market orientation. Because of this reason, we have prepared research “Research on implementation on market orientation in Hi-Tech Firms” (GA 402/07/1493). The goal of the research was to detect barriers of the implementation of market orientation. We divided the barriers of the implementation into three parts according to managers’ influence in an internal, branch and external environment. State, economy and technologies are named as the main elements of external environment. The main barriers connected with the elements of branch environment are quality and quantity of branch stakeholders. Barriers of internal environment involve the barriers connected with the top management and its personality, skills, knowledge and experiences, all employees of a company and interfunctional coordination. The paper deals with the interfunctional coordination at hi-tech firms. The objective of the paper is to define barriers connected with interfunctional coordination and to detect the perception and importance of interfunctional coordination at hi-tech firms. The theoretical knowledge is noticed in some research studies. The data was acquired by means of a questionnaire. New Method measured market orientation in a company. The questionnaire New Method with 7-point Likert scale constituted by Tomaskova (2005) was used for the research. The complete database was analysed by using standard statistical methods (correlation analysis, Spearman correlation coefficient, chi-square) as well as other sophisticated techniques (Cronbach alpha). The main results of the research show that the level of market orientation at the hi-tech firms in the Czech Republic is high and confirm how important is gaining information and using this information inside the company for market orientation. The main results of the research confirm that interfunctional coordination is the base of market orientation. Hi-tech firms in the Czech Republic perceive interfunctional coordination as very necessary presumption for their future development and prosperity. The highest rate for this part received the following statements confirming positive company attitude for innovation, preference for teamwork and mutual cooperation in firms and also effort to be flexible. On the other hand, the lowest average rate had the statement describing relations between superiors and subordinates and their strictness and formalness.DOI: http://dx.doi.org/10.5755/j01.ee.23.1.1224

scholarly journals Cluster performance management

ACC Journal ◽  
2020 ◽  
Vol 26 (2) ◽  
pp. 94-100
Author(s):  
Natalie Pelloneová
Keyword(s):  
Czech Republic ◽  
Financial Performance ◽  
Performance Management ◽  
Public Support ◽  
Top Down ◽  
Cluster Performance ◽  
The Czech Republic ◽  
Business Entities ◽  
High Degree ◽  
The Impact

The presented article is based on research evaluating the impact of cluster organisations on the financial performance of member entities. The author’s doctoral thesis examines whether there is a difference in the financial performance of cluster organisations created through the bottom-up and the top-down approaches, under the conditions existing in the Czech Republic. Both types of clusters that meet the condition of maturity (established before or in 2012) and of a high degree of activity were selected for the research. The financial performance of member business entities was assessed using the following indicators: ROA, ROE, ROS, EVA, EVA/employee and EVA/sales. The aim of the research was to demonstrate whether public support for clusters would be reflected in member entities’ better financial performance. The final part of the paper then summarises and discusses the findings.

scholarly journals Vliv změny pravidel v roce 2010 na střelbu hráčů Národní basketbalové ligy

2015 ◽  
Vol 9 (2) ◽  
pp. 77-84
Author(s):  
Václav Svoboda ◽  
Emil Řepka
Keyword(s):  
Czech Republic ◽  
Negative Impact ◽  
Male Competition ◽  
T Test ◽  
F Test ◽  
The Czech Republic ◽  
Rules Changes ◽  
The Impact ◽  
Paired T Test

The aim of our study is to identify and evaluate the impact of rules changes in 2010 on success of two-point shooting and three-point shooting between selected Czech and foreign players taking part in National Basketball League- top male competition in the Czech Republic who have met with our specifi ed conditions in examined seasons 2009/10 and 2010/11. There are following methods used in the very research in the empirical part: Student’s paired t-test, Two-sample F-test, Student’s unpaired t-test of equality of variances and Size of eff ect. The results of these tests has statistically confi rmed our hypotheses H1 and H2 – it means decreasing of two-point shooting success in season 2010/11 for all examined players and reducing of success at three-point throws between players with Czech nationality. On the contrary, it has not confi rmed the hypothesis H3, thus increasing of three-point shooting success in season 2010/11 between foreign players. Substantively, we consider as an essential result the 20.1% negative impact of the rules changes on success of three-point shooting for players of Czech nationality.

scholarly journals The Impact of Financial Performance, Financial Risk, Liquidity, and Corporate Governance on Corporate Value

2020 ◽  
Vol 1 (2) ◽  
pp. 154
Author(s):  
Yunita Karlina ◽  
Andreas Lako
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Financial Risk ◽  
Negative Impact ◽  
Positive Impact ◽  
Linear Regression Analysis ◽  
Percent Level ◽  
Analysis Data ◽  
Corporate Value ◽  
The Impact

The purpose of this study is to analyze the impact of financial performance, financial risk, liquidity, and corporate governance (CG) on the corporate value in the period t0 and t+1. The proxy for financial performance, financial risk, liquidity, and corporate governance is respectively return on equity (ROE), debt to assets ratio (DAR), current ratio (CR), and corporate governance perception index (CGPI). The proxy for corporate value is price to book value (PBV). The method for analysis data is multiple linear regression analysis. The results show that financial performance has positive impact on the corporate value in the period t0 and t+1 on one percent level of significance. However, financial risk and liquidity have positive impact on the corporate value in the period t0 and t+1 but the impact is not statistically significant. CG shows different impact on the corporate value in the period t0 and t+1 in which it indicates negative impact in the period t0 but positive impact in the periode t+1. The impacts are however statistically insignificant. Generally, the results indicate that financial performance is the main factor that increases corporate value.

scholarly journals The Impact of Corporate Social Responsibility on the Financial Performance of Listed Companies in Thailand

2021 ◽  
Vol 13 (16) ◽  
pp. 8920
Author(s):  
Muttanachai Suttipun ◽  
Pankaewta Lakkanawanit ◽  
Trairong Swatdikun ◽  
Wilawan Dungtripop
Keyword(s):  
Financial Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Descriptive Analysis ◽  
Listed Companies ◽  
Annual Reports ◽  
Corporate Social ◽  
The Impact

This study aims to: (1) investigate the amount of corporate social and environmental responsibility (CSR) spending, awards, and activities of listed companies in the Stock Exchange of Thailand (SET) and in the Market for Alternative Investment (MAI); (2) test the impact of CSR spending, awards, and financial performance activities; and (3) examine the amount of CSR spending, awards, and activities between companies with and without a CSR committee. The sample included all the listed companies in the resource industry from the SET and the MAI. The data were collected from the companies’ annual reports from 2015 to 2019. Descriptive analysis, an independent-sample t-test, a correlation matrix, and an unbalanced panel data analysis were used to analyze the data. The average level of spending per activity was 2.2964 million baht. There were, on average, 2.1741 awards and 11.4178 activities during the studied period. Moreover, there was a significant negative impact of CSR spending, and a positive impact of CSR awards and activities, on corporate financial performance. Finally, there was a significantly different amount of CSR spending, awards, and activities between the companies with and without a CSR committee. The findings of this study demonstrate that legitimacy theory can be used to explain the benefit of CSR to Thai-listed companies, although CSR is still a voluntary corporate responsibility in Thailand.

scholarly journals The Impact of Bailout on Financial Performance And Bank Risk-Taking During Financial Crisis: A Critical Systematic Review

2019 ◽  
Vol 3 (1) ◽  
pp. 7-13
Author(s):  
Dety Nurfadilah
Keyword(s):  
Systematic Review ◽  
Financial Crisis ◽  
Financial Performance ◽  
Risk Taking ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Positive Impact ◽  
Bank Risk ◽  
The Global Financial Crisis ◽  
The Impact

The focus on the bank bailout has been increased since the global financial crisis in 2008 in most countries. However, previous studies often discover the relationship between bailout and corporate governance. In this study, bank bailout literature will be reviewed with the focus on the impact of bailout on bank financial performance and bank risk-taking during the financial crisis. Multi-step strategy is used to collect the data from 2000 to 2016. From the 7 papers were chosen based on the criteria. This systematic review has shown that the bank bailout has a positive impact on financial performance, however, it has a negative impact on bank risk-taking for a longer period.

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