scholarly journals COMPETITIVENESS ANALYSIS OF KAZAKHSTAN CONFECTIONARY SECTOR USING FINANCIAL DISCRIMINANT MODELS

2017 ◽  
Vol 5 ◽  
pp. 144-153
Author(s):  
Petr Hájek ◽  
Gulnar Zhunissova ◽  
Taťjana Čábelová ◽  
Adilya Baidildina
Keyword(s):  
Czech Republic ◽  
Predictive Models ◽  
Local Market ◽  
Z Score ◽  
The Czech Republic ◽  
Financial Situation ◽  
Central Asian ◽  
Discriminant Models ◽  
Score Model ◽  
Political Turmoil

Measuring competitiveness offers hundreds of analytical options. We have chosen to analyze and compare companies of confectionery sector in Kazakhstan. We opted to use bankruptcy and creditworthiness models and compare competitiveness through the financial situation of main competitors on that market. Companies analyzed comprise of two Ukrainian companies (Konti and Roshen), Russian companies (Nestlé Russian branch serving also Central Asian markets and KDV - Yaskino) and three local corporations Rakhat, Bayan Sulu and Konfety Karagandy. Models used for analysis are Altman z-score model, Taffler z-score model, IN99, IN01, IN05, and creditworthiness model. The IN models were created in the Czech Republic based on companies' data from the 1990s which was the period of higher inflation, small currency an big banking crisis, massive imports, developing competition and infrequent political turmoil. These models have comparably much greater benefits for analyzing companies in Kazakhstan because they are based on hundreds of companies in contrast to tens of companies on which Altman or Taffler based their famous and highly predictive models. We present an analysis of models in 2007 – 2016 period based on publicly accessible data. We show the IN models have valuable benefits for comparison compared with other older models and that they can disclose certain events or corporate situations in a clearer way than other Altman or Taffler z-score models and should be used in Kazakhstan and improved to suit better the local market environment.

scholarly journals Analysis of decreasing natality trend in the Czech Republic

2008 ◽  
Vol 56 (3) ◽  
pp. 147-156
Author(s):  
Jitka Poměnková ◽  
Lenka Němcová
Keyword(s):  
Czech Republic ◽  
Regression Model ◽  
Multiple Regression Model ◽  
Living Standard ◽  
Second Step ◽  
Economic Factors ◽  
The Czech Republic ◽  
Financial Situation ◽  
Evaluation Influence ◽  
Family State

The aim of this paper is factors identification of the decreasing natality trend in the Czech Republic between years 1991–2005. This identification is done with respect to the financial situation and living standard of families.The first step, analysis of natality factor – animation natality, is performed. Animation natality is divi­ded according to the mother family state in the time of the birth. Trend of born in marriage and trend out of marriage are described. Following analysis is focused on decreasing component of natality – number of born in marriage.The second step is time series correlation analysis used for identification and evaluation influence of demographic and economic factors on decreasing component of natality. Based on this analysis, in­fluen­cing factors for regression model describing natality are selected.The last step is formulation and estimation of multiple regression model describing causality between natality in marriage and selected factors.

scholarly journals Differences in the Concept of Risk Management in V4 Countries

2018 ◽  
Vol 6 (2) ◽  
pp. 100-109 ◽  
Author(s):  
Zuzana Virglerova
Keyword(s):  
Risk Management ◽  
Czech Republic ◽  
Contingency Table ◽  
Z Score ◽  
Absolute Frequency ◽  
Chi Square ◽  
The Czech Republic ◽  
Entrepreneurial Knowledge ◽  
Research Questions ◽  
Visegrád Countries

Abstract Risk management is one of the entrepreneurial knowledge to reduce business risks. The aim of the article is to compare the access to risk management in SMEs in the Visegrad countries (V4). The attention is focused on the differences in a perception of the importance of various risks, the choice of the person responsible for risk management and the frequency of discussion on the current risks in the company. The article deals with the partial results of the empirical questionnaire survey which was completed in 2018 at the Tomas Bata University in Zlín in the Czech Republic. The survey was made among SMEs in the Czech Republic (408 respondents), Slovakia (487), Poland (489) and Hungary (388). The questionnaire included questions about the importance of risks and the concept of risk management in the company. Three research questions were set. To test the formulated research questions, the following statistical tools, such as pivot table, relative and absolute frequency, the Chi-Square calculator for 5 x 5 Contingency Table and Z-score, were used. Finally, the result indicates a different perception of the key risks in Hungary (in comparison with other V4 countries). There are also statistically significant differences in the frequency of discussion on the current risks in relation to the size of the company among V4 countries. The differences among the companies from V4 countries in the choice of the person responsible for risk management were proved as well. The article concludes with a discussion on the comparison of the previous international researches.

scholarly journals FINANCIAL HEALTH OF ENTERPRISES INTRODUCING SAFEGUARD PROCEDURE BASED ON BANKRUPTCY MODELS

2018 ◽  
Vol 19 (5) ◽  
pp. 692-705 ◽  
Author(s):  
Jaroslav Schönfeld ◽  
Michal Kuděj ◽  
Luboš Smrčka
Keyword(s):  
Descriptive Statistics ◽  
Financial Health ◽  
Z Score ◽  
Problematic Situation ◽  
The Czech Republic ◽  
Financial Situation ◽  
Financial Conditions ◽  
Time Period ◽  
One Year ◽  
The Individual

This paper is focused on the financial situation of enterprises introducing safeguard procedure (in other words moratorium) in the Czech Republic. The paper’s aim is to show if the enterprises asking for the safeguard procedure do have financial conditions for recovering and maintaining the going concern principle. The safeguard procedure should help the enterprise to solve their problematic situation because it protects them against creditors for the court approved time period. The safeguard procedure cannot be successful when the financial situation is extremely poor and therefore this paper analyses the enterprises’ financial situation upon applying for safeguard. The situation is evaluated using bankruptcy models, such as Altman Z-Score, Kralicek Quick Test, IN 99 and IN05. The evaluation is conducted in different time moments, specifically one year, two years and three years before implementing the safeguard procedure. Results for the individual enterprises are summed up by basic descriptive statistics as mean, median, low and upper quartiles. The results show that the financial situation of most enterprises was very poor before introducing the safeguard procedure and it had deteriorated during the years before.

scholarly journals CSR ACTIVITIES IN THE CZECH SME SEGMENT

2020 ◽  
Vol 8 (1) ◽  
pp. 49-64 ◽  
Author(s):  
Zdenko Metzker ◽  
Justas Streimikis
Keyword(s):  
Czech Republic ◽  
Positive Impact ◽  
Small And Medium Enterprises ◽  
Management Practice ◽  
Business Owners ◽  
Z Score ◽  
The Czech Republic ◽  
Medium Enterprises ◽  
Corporate Social ◽  
Final Effect

The aim of the study is to find out the perception of the concept of corporate social responsibility (CSR) by the segment of small and medium-sized enterprises in the Czech Republic. In connection with the objectives of the study, a questionnaire survey was carried out on a sample of 419 respondents – business owners and managers. The data were collected from September 2019 to January 2020. χ2 and Z-score were used to assess the hypotheses. It was found that there were statistical differences in the perception of some aspects of the positive impact of the introduction of the CSR concept in case of monitoring responses based on the geographic scope of the business. The results showed that although the manager should take into account the ethical and moral implications of his decisions, less than half of the respondents are familiar with the concept of CSR and enforce it in their management practice and ultimately managers cannot identify positive benefits from CSR implementation – it declares positive answers whose values oscillate around 30%. The findings show that there are no statistically significant differences in the answers of managers depending on the size of the company - this proves that micro, small and medium enterprises, respectively their managers do not differ in their attitudes to the topic of CSR. The final effect of the paper is to show the perception of the concept of CSR of entrepreneurs - respondents in the Czech Republic.

scholarly journals Remittance behaviour and integration process of Ukrainian migrants in Italy and the Czech Republic

2013 ◽  
Vol 3 (1) ◽  
pp. 1-11
Author(s):  
Elena Ambrosetti ◽  
Eralba Cela ◽  
Wadim Strielkowski
Keyword(s):  
Czech Republic ◽  
Demographic Characteristics ◽  
Integration Process ◽  
Specific Context ◽  
The Czech Republic ◽  
Financial Situation ◽  
Target Country ◽  
Context Characteristics ◽  
Remittance Behavior

This paper uses a case study of Ukrainian migrants in Italy and the Czech Republic to demonstrate the similarities in remittance behavior and integration process of same ethnic group in different destination countries. Our findings show that that remittance behavior of Ukrainian migrants in the Czech Republic and Italy is significantly determined by their financial situation, demographic characteristics, level of human capital and the level of integration as well as the specific context characteristics. In addition, we find evidence for the fact that Ukrainian migrants who are more settled in a target country will send less or no remittances to Ukraine and that therefore the Stark’s hypothesis of remittances decay holds true for this ethnical group regardless of the country of residence.

scholarly journals Reasonability of wine investment in the Czech Republic

2012 ◽  
Vol 60 (2) ◽  
pp. 181-188
Author(s):  
Tomáš Lintner
Keyword(s):  
Czech Republic ◽  
Transformation Process ◽  
Local Market ◽  
The European Union ◽  
Positive Role ◽  
Great Opportunity ◽  
The Czech Republic ◽  
Globalizing World ◽  
Wine Sector ◽  
The One

The paper deals with the validity of bottled wine investment commited in the Czech Republic. The Agrarian sector of the Czech Republic went during last 20 years through several key changes. After the transformation process its facing the external competitive condition of the globalizing world, especially the one of the European Union common market. One of the Czech Agrarian branch, its wine sector, might play a positive role for the whole „industry“ in future. At presence, there is an increasing trend of the volume of wine investment made not only on local market, but across the whole world as well. All crucial factors such as purchase, storage, ageing a saling process must be properly considered and evaluated. It deals with the principles of wine investment, revenue, risk of purchase and storage of the bottled wine including its liquidity. The process of choice of the appropriate wine for aging is outlined. It shows all possible complications and an approach to the regular investor. This paper using a critical overview on the actual publically spread opinion that the wine investment is a great opportunity compared to the others. The issue is whether to recommend an investment into bottled wine in respect of local market conditions.

scholarly journals Factors that influence the success of small and medium enterprises in ICT: a case study from the Czech Republic

2015 ◽  
Vol 16 (3) ◽  
pp. 304-315 ◽  
Author(s):  
Martin Krejcí ◽  
Wadim Strielkowski ◽  
Inna Čabelková
Keyword(s):  
Czech Republic ◽  
Questionnaire Survey ◽  
Success Factors ◽  
Small And Medium Enterprises ◽  
Local Market ◽  
Financial Indicators ◽  
The Czech Republic ◽  
Technology Sector ◽  
Medium Enterprises

Small and medium enterprises (SMEs) occupy a large niche in the information and technology sector (ICT) and play an important role in the functioning on any state’s economy. This paper focuses on a specific local market and uses the Czech Republic as a case study in order to establish the success factors crucial for achieving economic success. It aims at determining those factors with the help of econometric success rate models based on the own data collected via the means of questionnaire survey among ICT enterprise. Our results show that the earnings-employee ratio, average revenues and the investment in own R&D play the most important role in the success of Czech SMEs in question. Both, financial and non-financial indicators perform significantly in the predictions of success.

scholarly journals Municipalities without elected councils. Causes of insufficient fulfilment of candidate lists in some municipalities in local elections in 2018

2021 ◽  
Vol 17 (1) ◽  
pp. 57-82
Author(s):  
Petr Dvořák ◽  
Stanislav Balík
Keyword(s):  
Czech Republic ◽  
Qualitative Analysis ◽  
Voter Turnout ◽  
Media Analysis ◽  
Local Elections ◽  
The Czech Republic ◽  
Financial Situation ◽  
Municipal Elections

Abstract By means of a qualitative analysis of the sixteen municipalities in the Czech Republic in which additional elections were held in 2019, five variables were identified which may explain why additional elections occurred. For analysis, we used data from the Czech Statistical Office (municipal elections 1994 to 2019), the Ministry of Interior of the Czech Republic and information on individual municipalities from media analysis. We have identified the following possible variables which may affect whether additional elections are held: end of elites, non -stand as a candidate again, the end of municipal representatives, incumbent decides not to defend mandate (variable Non -defend mandate) and personal disputes within the municipality. Conversely, the financial situation of the municipality, the age of the representatives, the voter turnout in the municipality, the number of voters, the number of candidate lists or associations and candidates proved inconclusive in most municipalities. A significant increase in new candidates is a consequence rather than an explanation of the holding of additional elections.

scholarly journals FINANCIAL SITUATION OF PRE-PACKED INSOLVENCIES

2020 ◽  
Vol 21 (4) ◽  
pp. 1111-1127
Author(s):  
Jaroslav Schönfeld
Keyword(s):  
Debt Ratio ◽  
Financial Indicators ◽  
Z Score ◽  
Insolvency Proceeding ◽  
The Czech Republic ◽  
Financial Situation ◽  
Reorganization Plan ◽  
The Individual ◽  
Insolvency Proceedings ◽  
Practical Implications

This paper is focused on the financial situation of companies entering insolvency proceedings. It does not work with all kinds of the insolvent companies, but this paper concentrates on one specific issue. The issue is pre-pack insolvencies. The main aim is to show if the financial situation is an important factor for consent to pre-pack. The pre-pack insolvencies are insolvency cases which start with an insolvency proposal which is accompanied by a reorganization plan already approved by creditors. Prepacks should help make the insolvency process quicker and enable enterprise financial rehabilitation and sustain the going concern principle. On the other hand, the procedure can hardly be successful when the financial situation of the company is extremely poor. Therefore this paper evaluates the financial situation of the companies with pre-packed insolvency in the Czech Republic. The analysis of companies was conducted over one, two or three year periods prior to the companies entering an insolvency proceeding. According to the literature, financial indicators used for evaluation are commonly EBITDA, cash liquidity, debt ratio, ROA and the Altman Z-Score prediction model. Results for the individual enterprises are summed up in this paper using basic descriptive and variable statistics. Conclusions have especially practical implications because they show financial inability of majority pre-packed cases.

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