Applying the concept of entrepreneurial ecosystems in Estonia

2019 ◽  
Vol 63 (2-4) ◽  
pp. 134-145
Author(s):  
Merli Reidolf ◽  
Merle Küttim ◽  
Aleksandr Michelson ◽  
Helena Rozeik ◽  
Marianne Kallaste
Keyword(s):  
Knowledge Base ◽  
Qualitative Methodology ◽  
Economic Value ◽  
Value Added ◽  
Production Costs ◽  
Natural Ecosystems ◽  
Theoretical Understanding ◽  
Entrepreneurial Ecosystems ◽  
Sectoral Differences ◽  
The Difference

Abstract Similar to natural ecosystems, entrepreneurs and other entrepreneurial actors are locally interdependent and affect the performance of each other. Mostly economically larger and more successful regions have been studied by using the framework of entrepreneurial ecosystems (EEs). The current study aims at further developing the theoretical understanding of EEs and applying the proposed EE model in the context of Estonia. In the study, a conceptual model of an EE is proposed, the uniqueness of which lies in merging three aspects into a single framework: the nine components of an EE, its value-added, and its phase of development. The model was applied for analysing by means of a qualitative methodology four sector-based subEEs in Estonia. The study showed that even in a small country like Estonia the components of the EE were partly similar, but also partly unique for the subEEs. This was not due to the location, but because of sectoral differences. The difference of the development phase seemed to be related to the knowledge base of the sector. The policy relevance of the model is that it allows looking at the elements of an EE as well as its economic value-added and development prospects. The EE approach allows addressing jointly the difficulties and challenges in the development of EEs, including the issues of digitalisation, skilled labour, and production costs, which would allow the subEEs to develop into mature and resilient networks. Not all the components of an EE have to be equally strong, but their interconnectedness determines the strength of an EE. Policy solutions need to be tailored to the needs of specific subEEs based on the knowledge base and inner dynamics of the sectors.

scholarly journals Sensitivity analysis of Economic Value Added as a dominant indicator of concept of economic profit

2021 ◽  
Vol 129 ◽  
pp. 03014
Author(s):  
Dusan Karpac ◽  
Viera Bartosova
Keyword(s):  
Sensitivity Analysis ◽  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Financial Status ◽  
Economic Profit ◽  
Methods Of Synthesis ◽  
The Difference ◽  
Individual Variables ◽  
The Impact

Research background: The modern goal of enterprises, value creation, is achieved through the concept of economic profit. Profit, as part of profit or loss, is one of the most important flows, pointing to how efficiently corporate capital is used in an entity (Coatney & Poliak, 2020). The article deals with the difference between accounting and economic profit, the selected form of economic profit - the EVA indicator. The economic value added (EVA) indicator is one of the best-known modern indicators of a company's performance (Siekelova et al., 2019). It shows whether the given entity increases its value or only earns for its economic survival. The benefit of this indicator is the valuation of equity and taking into account the risk. It is difficult to express the economic profit itself, therefore the article also addresses the issue of its calculation (Shah et al., 2016). The company needs to know its financial status and the direction it is heading, so we decided to calculate a selected form of economic profit. Purpose of the article: The company needs to know its financial status and the direction it is heading, so we decided to calculate a selected form of economic profit. When expressing the value of the economic value added indicator, it is also important to know the items and components of the calculation that have the strongest meaning and effect on the possible amount of the indicator. Given this, we decided to use a sensitivity analysis, which points to the effect of individual variables that participate in the construction of the EVA calculation. Methods: In this work, the methods of induction, deduction, and comparison were used to obtain a true picture of the subject issue. Methods of synthesis and analysis of the researched issues were also used. Findings & Value added: In the paper there is pointed out the intensity of the impact of individual variables that entered into the calculation of the economic value added indicator as a dominant indicator of concept of economic profit.

scholarly journals MARKETING PERFORMANCE MEASUREMENT: MARKETING METRICS IN TURKISH FIRMS

2013 ◽  
Vol 14 (Supplement_1) ◽  
pp. S413-S432 ◽  
Author(s):  
Gungor Hacioglu ◽  
Osman Gök
Keyword(s):  
Firm Performance ◽  
Economic Value ◽  
Value Added ◽  
Future Research ◽  
Marketing Metrics ◽  
Marketing Performance ◽  
Customer Lifetime ◽  
Sectoral Differences ◽  
Managerial Implications ◽  
The Relationship

This study explores which metrics are considered important in measuring marketing performance in Turkish firms. In addition, the study examines the effects of sectoral differences and market dynamism, and the relationship between the importance attached to metrics and firm performance. The data collected from a sample of 145 Turkish firms via a structured questionnaire derived from the literature reveals that the most importance is attached to consumers’ attitudes metrics. Economic value added and customer lifetime value are the least important metrics in performance evaluation. No significant relationship occurs between the importance that executives attach to metrics and firm performance. Managerial implications and future research opportunities will be presented at the end. The study is, as far as is known, the first attempt at aiming to explore marketing metrics in Turkey, and one of a limited number of studies in emerging economies.

scholarly journals Credit Absorption Capacity of Businesses in the Construction Sector of the Czech Republic—Analysis Based on the Difference in Values of EVA Entity and EVA Equity

2020 ◽  
Vol 12 (21) ◽  
pp. 9078
Author(s):  
Jakub Horak ◽  
Petr Suler ◽  
Jaroslav Kollmann ◽  
Jan Marecek
Keyword(s):  
Czech Republic ◽  
Economic Value ◽  
Weighted Average ◽  
Value Added ◽  
Absorption Capacity ◽  
Economic Value Added ◽  
Investment Climate ◽  
Construction Sector ◽  
The Czech Republic ◽  
The Difference

The contribution deals with the economic value added and its influence on credit absorption capacity. The aim was to determine the significance of the difference between the economic value added (EVA) entity and EVA equity indicators on credit absorption by the construction sector in the Czech Republic. The data came from the Albertina database of Bisnode Czech Republic for the period 2012–2018; small and medium-sized enterprises, in particular, were selected. The most important factor for calculating the amount of credit absorption depends on the EVA entity indicator and the weighted average cost of capital. The calculations produced negative values for credit absorption, which reflects an unattractive investment climate for business owners and their creditors. In other words, loans sought by enterprises in the Czech construction sector do not lead to a greater degree of realization of their goals, i.e., an increase in value for shareholders.

scholarly journals Performance factors of Czech brewing industry companies

2013 ◽  
Vol 61 (2) ◽  
pp. 353-365
Author(s):  
Gabriela Chmelíková
Keyword(s):  
Balanced Scorecard ◽  
Economic Value ◽  
Value Added ◽  
Brewing Industry ◽  
Value Drivers ◽  
Comprehensive Overview ◽  
Significance Level ◽  
Performance Factors ◽  
The Difference ◽  
And Performance

The aim of this paper is to identify and subsequently quantify the intensity of relation between selected value drivers of Czech brewing industry companies and thus answer the question of what the significance level of partial indicators influencing the economic value added in the Czech brewing industry is. The aim was achieved by construction and application of multifactorial model for value generators explanation, which represents a synthesis of the INFA model and performance system Balanced Scorecard. The features typical for the first part of the model are algorithmized relations and financial character of the elements, while in the second with non-financial elements the ability of algorithmization is lost and the connection are defined solely on the basis of causality. This inconsistency also implied the difference in the character of analysis results. The proposed model made it possible to identify the most significant generators of value in the Czech brewing industry and it thus became an important guideline for brewery management. The results of the analysis offer a comprehensive overview of the most important value generators and thus enable the company managers to attain the goals of the owners more effectively.

scholarly journals STRUKTUR MODAL TERHADAP ECONOMIC VALUE ADDED PADA PT PRIMARINDO ASIA INFRASTRUCTURE TBK TAHUN 2001-2015

2018 ◽  
Vol 3 (1) ◽  
pp. 73-80
Author(s):  
Muhammad Husain Muthahhari ◽  
Imas Purnamasari ◽  
Sulastri Sulastri
Keyword(s):  
Capital Structure ◽  
Manufacturing Industry ◽  
Time Series Data ◽  
Economic Value ◽  
Value Added ◽  
Series Data ◽  
Economic Value Added ◽  
Analysis Techniques ◽  
The Difference ◽  
The Capital Structure

Purpose - This study was conducted to look at the capital structure and economic value addedDesign / methodology / approach -The method of this research using and verification.. The object of this research is PT Primarindo Asia Infrastructure Tbk. Data collection techniques with time series. Data analysis techniques using multiple analysis techniques that is with the help of SPSS 20 for windows.Findings - Based on the results of research using verifikatif analysis, obtained the result that the capital structure does not have a positive effect on economic value added which means if there is a change in capital structure will affect with the increase of economic value addedOriginality / value - This research provides a basis for understanding the issues of capital structure overview and Economic value added. The difference of this research with the previous research is located on the object which is the company in the manufacturing industry that is PT Primarindo Asia Infrastructure Tbk with the variables studied are capital structure, and economic value added, and using theory or reference different from previous researchers. The results of this study that the structure of the capital in the nose using debt to equity ratio has a negative result

scholarly journals ANALISIS AGROINDUSTRI LEMPUK DURIAN DI DESA SELATBARU KECAMATAN BANTAN KABUPATEN BENGKALIS

2021 ◽  
Vol 35 (2) ◽  
pp. 93-106
Author(s):  
Dora Felicita Dongoran ◽  
Sisca Vaulina
Keyword(s):  
Production Process ◽  
Raw Materials ◽  
Survey Methods ◽  
Economic Value ◽  
Value Added ◽  
Production Costs ◽  
Added Value ◽  
Small Scale ◽  
Net Income ◽  
Supporting Materials

Agroindustry is an activity of processing agricultural products to be semi-product or product that has economic value. The purpose of this study was to determine the characteristics of entrepreneurs and agroindustry business profiles of lempuk durian, the use of raw materials, supporting materials, labor, processing technology, and production processes of lempuk durian, the poduction costs, income, efficiency and added value of lempuk durian, and marketing of durian products. The study used survey methods located in Selatbaru Village, Bantan District, Bengkalis Regency, Riau Province. A total of 4 craffsmen was selected as respondents by the census.  The data were analyzed by qualitative descriptive and quantitative descriptive approaches. The results showed that the lempuk durian craffsman averaged 47 years old, 12 years old education, 14 years of business experience, and 5 person of family member.  Agroindustry profile of lempuk durian was a small-scale industry category. The use of raw materials consisted of durian meat and supporting materials such as sugar, firewood, plastic packing, bunch, string, label, isolation, solar, and gas cylinders. The average use of fixed costs was IDR 1,968,633 per production process, production costs was IDR 15,886,133 per production process, gross income was IDR 26,937,500 per production process and net income was IDR 11,051,367 per production process and RCR value was 1.70 with value-added IDR 51,016. The marketing of lempuk durian had two marketing channels.

scholarly journals The use of neural networks to determine value based drivers for SMEs operating in the rural areas of the Czech Republic

2020 ◽  
Vol 11 (2) ◽  
pp. 325-346 ◽  
Author(s):  
Jaromír Vrbka
Keyword(s):  
Neural Networks ◽  
Czech Republic ◽  
Rural Areas ◽  
Economic Value ◽  
Value Added ◽  
Value Drivers ◽  
Data Set ◽  
The Czech Republic ◽  
The Difference ◽  
A Company

Research background: In the past, the main objective of a company was to generate sufficient profit. Nowadays, a company must seek to achieve much broader objectives. To be successful in this pursuit, it must not only measure financial performance, but also monitor internal and external developments, increase shareholders’ wealth and protect the interests of other stakeholders, i.e. to analyze and act on those factors that affect company value. Purpose of the article: The objective of the contribution is to determine through the use of artificial neural networks the relationship between business value drivers, or value based drivers (VBD), and EVA Equity, which is economic value added (EVA), of small and medium-sized enterprises operating in the rural areas of the Czech Republic. Methods: The data was obtained from the Bisnode´s Albertina database. The data set consists of the profit and loss accounts for 2013 to 2017 of small and medium-sized enterprises operating in rural areas of the Czech Republic. Two scenarios are analyzed. In the first, the independent variables are only the value drivers, whereas in the second, company location (region) is included. The objective is to find the dependence of EVA Equity on individual VBD and company location. A sensitivity analysis is conducted, on the basis of which the importance of individual value drivers and company location is determined. Findings & Value added: The output is a set of value drivers, which could be used by company managers to regulate the growth of EVA Equity, i.e. value for shareholders. The findings reveal that the difference between successful and unsuccessful companies is determined by the level of involvement of human capital; companies use a large number of substitutes for factors of production, whereby the involvement of borrowed capital is likely to cause a positive financial leverage effect.

scholarly journals Components of the financial performance of agricultural enterprises

2011 ◽  
Vol 59 (7) ◽  
pp. 57-68 ◽  
Author(s):  
Michaela Beranová ◽  
Marcela Basovníková
Keyword(s):  
Financial Performance ◽  
Economic Value ◽  
Value Added ◽  
Production Costs ◽  
Substantial Part ◽  
Economic Value Added ◽  
Agricultural Enterprises ◽  
Operating Profit ◽  
The Government ◽  
Production Subsidies

Financial performance of agricultural enterprises is discussed mainly in relation to agricultural subsidies policy of the Government. Agriculture is undoubtedly a specific sector of the national economy because the market conditions do not ensure a settlement of production costs of agricultural commodities. Than the most of agricultural enterprises have negative financial performance measured with the Economic Value Added (EVA).The aim of this paper is to identify and determine the main factors influencing the value of the EVA indicator in agricultural enterprises while the analysis is focused especially on four variables directly entering the calculation of economic value added. But the fact that these four variables are functions of other variables has to be also taken into account. Constructed multi-dimensional regression model corresponds with the fundamental logic of the calculation of economic value added. It has been observed that the strongest influence on the value of EVA stands on the side of operating profit. But in agricultural enterprises, the important part of this profit consists just in the agricultural production subsidies. This way, these subsidies become the substantial part of the performance of agricultural enterprises.

Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) (Studi Kasus pada PT Astra International, Tbk. Periode Tahun 20082012)

2017 ◽  
Vol 1 (1) ◽  
Author(s):  
Abdul Hamid
Keyword(s):  
Financial Performance ◽  
Financial Services ◽  
Stock Price ◽  
Economic Value ◽  
Composite Index ◽  
Value Added ◽  
Secondary Data ◽  
Study Approach ◽  
Market Value Added ◽  
The Interest Rate

This study is a qualitative study using a case study approach to the PT. Astra International, Tbk. The object of this research is PT. Astra International, Tbk. PT. Astra International, Tbk is a company engaged in six business sectors, namely: automotive,financial services, heavy equipment, mining and energy, agribusiness, information technology, infrastructure and logistics. Researchers chose PT. Astra International, Tbk as research objects due in the year 2012, PT. Astra International, Tbk managed to rank first in the list of 100 Best Companies to Go Public by the 2011 financial performance of Fortune magazines Indonesia. The data used in this research is secondary data, the financial statements. Astra International, Tbk 20082012. Other secondary data used is the interest rate of Bank Indonesia Certificates (SBI), the Jakarta Composite Index (JCI), and thecompanys stock price began the year 20082012. This study aims to determine the companys financial performance by the use of EVA and MVA approach, therefore the data analysis technique used is the EVA and MVA. Based on the value EVA of the year 2008 2012, PT. Astra International, Tbk has good financial performance that managed to meet the expectations of the company and the investors. Based on the value of MVA during the years 20082012, PT. Astra International, Tbk managed to create wealth and prosperity for companies and investors. It concluded that financial performance. AstraInternational, Tbk for five years was satisfactory.

Enterprise Performance Analysis of the Selected Service Sector by Applying Modern Methods with an Emphasis on the Creation and Application of the Modified Creditworthy Model (MCWM)

2018 ◽  
Vol 9 (17) ◽  
Author(s):  
Erika Onuferová ◽  
Veronika Čabinová
Keyword(s):  
Service Sector ◽  
Prediction Models ◽  
Economic Value ◽  
Value Added ◽  
Financial Indicators ◽  
Tourism Sector ◽  
Future Success ◽  
Financial Growth ◽  
Net Assets ◽  
Third Dimension

The aim of presented paper was to create and subsequently apply the Modified 3D Creditworthy Model (MCWM) of performance reflecting sectoral characteristics and financial specificities of the selected sample of Slovak tour operators over the years 2013 – 2017. The intention of this research study was to implement the key financial indicators and appropriate prediction models into both dimensions of the traditional 2D Creditworthy Model of performance and to supplement its third dimension applying the selected modern assessment methods – the Economic Value Added and the Return On Net Assets as we consider them to be one of the most important indicators of future success and company's financial growth. This modification will help to better identify the current financial position of tour operators and more accurately identify causes that hinder the development of financial performance of the selected sample of enterprises. However, after adjusting the upper and lower quartile averages of a particular industry, this methodology is applicable in the wider context of enterprises, not only those operating in the tourism sector.

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