scholarly journals Business risks and their impact on business future concerning the entrepreneur’s experience with business bankruptcy: case of Czech Republic

2020 ◽  
Vol 18 (2) ◽  
pp. 418-430
Author(s):  
Ján Dvorský ◽  
Aleksandr Ključnikov ◽  
Jiří Polách
Keyword(s):  
Czech Republic ◽  
Financial Risk ◽  
Business Failure ◽  
Direct Impact ◽  
Linear Regression Models ◽  
The Czech Republic ◽  
The Future ◽  
The Difference ◽  
The Impact

The article aims to determine the difference in the perception of selected business risks and their impact on the future of business concerning the entrepreneur’s experience with business bankruptcy. The case study involved 73 small and medium-sized enterprises (SMEs) with experience of business bankruptcy and 381 SMEs without the experience of business bankruptcy from the Czech Republic (CR). Linear regression models were used to verify statistically significant causal relationships between selected indicators of the most significant business risks and respondents’ perceptions of the future of business. The results brought interesting findings. The attitudes of entrepreneurs show that personnel, market, and financial risk are among the three most significant business risks. Experience with business failure is not a significant factor in determining the impact of market indicators on the business’s perceived future. The adequacy of sales of services and products has the greatest impact. The experience of the bankruptcy of SMEs is important in financial risk attitudes. According to entrepreneurs who have no experience with bankruptcy, the perception of financial performance has the greatest direct impact on the future of business. Conversely, for entrepreneurs who have experienced bankruptcy, the ability to properly manage financial risk on the company’s future has the greatest direct impact.

scholarly journals DIFFERENCES IN BUSINESS RISK EFFECTS ON THE FUTURE OF SMEs DUE TO THE COVID-19 PANDEMIC

2021 ◽  
Vol 9 (2) ◽  
pp. 14-31
Author(s):  
Ján Dvorský ◽  
Martin Čepel ◽  
Anna Kotásková ◽  
Katarína Bugánová
Keyword(s):  
Czech Republic ◽  
Financial Performance ◽  
Financial Risk ◽  
Business Environment ◽  
The Czech Republic ◽  
Non Profit ◽  
Top Managers ◽  
The Future ◽  
Linear Regression Modeling ◽  
The Impact

The article aims to identify, analyze, and quantify disparities in the impact of entrepreneurial risks on the future of small and medium-sized enterprises in the business environment of the Czech Republic in light of the COVID-19 pandemic. The research was carried out on 814 SMEs in two phases. 454 SMEs participated in the first phase of the research, which took part before the COVID-19 pandemic. 360 SMEs took part in the second research phase during the pandemic. Statistical methods such as correlation analysis and linear regression modeling were applied to evaluate statistical hypotheses. The results yielded interesting findings. According to respondents, the three most significant business risks in the SME segment include market, financial, and personnel risk in the period before the COVID-19 pandemic and during the COVID-19 pandemic. Prior to the COVID-19 pandemic, entrepreneurs saw the adequacy of sales and financial performance of the business as key determinants that impact the future of SMEs over a 5-year horizon. Conversely, during the COVID-19 pandemic, entrepreneurs perceived the management of the company's personnel performance, financial performance, and ability to manage financial risk as determinants that affect the future of SMEs over five years. According to owners and top managers during the COVID-19 pandemic, the most significant factor is the adequacy of personnel risk in SMEs.On the one hand, the findings benefit the owners themselves and the top managers of SMEs. On the other hand, government institutions and organizations that decide on government measures promote a penetrating environment. Also, the non-profit sector (e.g. Association of Small and Medium-Sized Enterprises and Crafts of the Czech Republic) assists SMEs in their edible activities and activities. 

scholarly journals Application of the methodology related to the emission standard to specific railway line in comparison with parallel road transport: a case study

2018 ◽  
Vol 244 ◽  
pp. 03002 ◽  
Author(s):  
Iwona Rybicka ◽  
Ondrej Stopka ◽  
Vladimír Ľupták ◽  
Mária Chovancová ◽  
Paweł Droździel
Keyword(s):  
Global Warming ◽  
Czech Republic ◽  
Energy Consumption ◽  
Greenhouse Gases ◽  
Road Transport ◽  
Emission Standard ◽  
The Czech Republic ◽  
Railway Line ◽  
The Impact

At present, the impact of transport on the environment constitutes a serious problem. This mainly concerns energy consumption and production of greenhouse gases (GHG) that via their participation in greenhouse effect intensification contribute to global warming. In this paper, the calculations provided by the EN 16258: 2012 methodology will be applied to two modes of transport: railway and road transport. Subsequently, the methodology will be applied to a case study of a selected nonelectrified railway line in comparison with parallel road transport. In particular, energy consumption and production of greenhouse gases will be monitored depending on traveling the distance between selected cities in the Czech Republic.

scholarly journals The Influence of Excellence on Municipal Performance: Quasi-Experimental Evidence From the Czech Republic

SAGE Open ◽  
2020 ◽  
Vol 10 (4) ◽  
pp. 215824402097823
Author(s):  
Michal Plaček ◽  
Milan Křápek ◽  
Jan Čadil ◽  
Bojka Hamerníková
Keyword(s):  
Czech Republic ◽  
Experimental Design ◽  
Local Governments ◽  
Positive Impact ◽  
Free Disposal Hull ◽  
Actual Performance ◽  
The Czech Republic ◽  
Quasi Experimental ◽  
The Difference ◽  
The Impact

This article examines the impact of excellence-promoting policies on the actual performance of municipalities in the Czech Republic. In this analysis, the performance of municipalities that have received awards for the use of quality management tools is compared with a selected group of municipalities that did not receive awards. Data envelopment analysis (DEA; with constant and variable returns on the scale), free disposal hull (FDH), and Order-M methods were utilized to represent performance. For the actual performance comparison, a quasi-experimental design was used. The analysis of outputs using the difference impact method found that this specific public policy did not have a positive impact on the efficiency of municipalities. If the difference-in-differences method is used, the opposite is achieved. However, the technical efficiency gains are very small. The use of the quasi-experimental design along with the determination of inputs and outputs which are characteristic of the Czech Republic also offers a contribution when this method is being applied to the assessment of institutions in the form of local governments.

scholarly journals Macroeconomic implication of the floods – a case study for the regions of the Czech Republic

2012 ◽  
Vol 60 (7) ◽  
pp. 289-298 ◽  
Author(s):  
Jana Soukopová ◽  
Lenka Furová
Keyword(s):  
Czech Republic ◽  
Capital City ◽  
The Czech Republic ◽  
Economic Level ◽  
Damage Structure ◽  
Fixed Capital Formation ◽  
Macroeconomic Indicators ◽  
Czech Society ◽  
The Impact

Floods are natural events with extensive impact on property and life of affected people. They significantly came in 1997 into the life of Czech society and since then has caused damage almost 172 billion CZK. The paper focuses on the assessment of impact of floods from 1997 to 2010 on economic level of each region. The impact is assessed on basis of development of the basic macroeconomic indicators such as GDP and economic level of regions, change in fixed capital formation, sales of industrial products and unemployment. The basic idea is to show how much floods have influenced region’s economy and if it depends more on the amount of flood damages or nature of damage (structure within infrastructure). 13 regions of the Czech Republic except Prague were chosen for the analysis. Prague was excluded from the analysis because of its specific status (capital city and the region) and economic conditions among regions in the Czech Republic (higher GDP per capita than the national average).

scholarly journals Measuring The Impact of an Administrative Fine on a Company And Its Future Survival: a Case Study From The Czech Republic

2021 ◽  
Vol 17 (4) ◽  
pp. 34-49
Author(s):  
Tomas Krabec ◽  
Romana Čižinska
Keyword(s):  
Czech Republic ◽  
Constitutional Court ◽  
Business Activity ◽  
Economic Returns ◽  
The Czech Republic ◽  
Long Run ◽  
Administrative Punishment ◽  
The Impact ◽  
Specific Amount

Abstract An administrative fine is a monetary penalty that may be imposed by a supervisory authoritity as an administrative punishment. Such a fine adversely interferes in the cash flow generation of the company in question. The fine can be described as an investment carrying opportunity costs with no economic returns. However, according to the judgment of the Constitutional Court of the Czech Republic Pl. ÚS 3/02 of 13 August 2002 it is submitted that the fine cannot be imposed in such an amount that would ultimately be liquidating for the sanctioned entrepreneur. The assessment of whether the specific amount of the fine imposed represents such an intensive interference with the entrepreneur's property that his business activity becomes pointless (i.e., in the long run only for the payment of a fine) is elaborated in this article. Based on a case study from the Czech Republic, this article deals with an example of a suitable methodological procedure, on the basis of which it is possible to evaluate the impact of a specific amount of fine imposed on the property of a sanctioned entrepreneur and assess ex ante whether (i) continuity of his business will be interrupted in the future, i.e., when, as a result of the payment of the fine, he eventually goes bankrupt in the form of insolvency or over-indebtedness and / or (ii) his business activity will only serve to pay the fine and thus become "pointless". The presented economic narrative and methodology are relevant for policy makers and, particularly, for supervisory authorities imposing the fines or assessing the requests for remission.

scholarly journals Quality Destination Management

2019 ◽  
Vol 67 (4) ◽  
pp. 1027-1037
Author(s):  
Tomáš Dania ◽  
Kateřina Mlejnková ◽  
Ida Rašovská
Keyword(s):  
Sustainable Development ◽  
Czech Republic ◽  
Quality Management ◽  
The Czech Republic ◽  
Tourist Destinations ◽  
The Future ◽  
European Foundation ◽  
The Difference ◽  
Model Of Excellence

Tourism is recognized as a significant industry worldwide, a key sector and source of development and income in several countries. The article focuses on quality management in tourist destinations in the Czech Republic. The overall objective of the present study is to uncover the evaluation of destination management by tourist organisations. Hence, the importance of destination management for each organisation based on the model of excellence EFQM (European Foundation for Quality Management) is evaluated. Moreover, the article highlights and assesses the difference between organisations which possess a certificate of quality and those which do not. Furthermore, the findings of the research, the data for which were collected from respondents at tourism organisations in the Czech Republic, can be used for assessing the competitiveness of destinations and for recommendations for sustainable development in the future.

scholarly journals WHAT IS THE PRICE OF OUTDOOR ADVERTISING: A CASE STUDY OF THE CZECH REPUBLIC?

2021 ◽  
Vol 11 (1) ◽  
pp. 386-391
Author(s):  
JAROSLAV ZAHRÁDKA ◽  
VERONIKA MACHOVÁ ◽  
JIŘÍ KUČERA
Keyword(s):  
Czech Republic ◽  
Outdoor Advertising ◽  
The Czech Republic ◽  
The Difference ◽  
Outdoor Advertisement ◽  
The Individual

The aim of the paper is to analyze the price of outdoor advertising in various regions of the Czech Republic. The base source of data is the website plakatov.cz, from which the prices of outdoor advertisement in individual regions were obtained. The results show that the prices of outdoor advertisement in the individual regions are the same. The main difference is in how many outdoor advertisements are located in individual regions for the lowest and how many for the highest price. An overview was created, which shows what is the price of outdoor advertisement in each region, how many ads are located in each region and subsequently, the data is displayed using a map. The results show that the cheapest outdoor advertisement is located in the Hradec Králové region. The price of the outdoor advertisement in the Hradec Králové Region is CZK 5,204. On the contrary, the most expensive outdoor advertisement is in Prague. The price of outdoor advertising in Prague is CZK 16,567. Most outdoor advertisements are located in Prague. There are 174 outdoor advertisements in Prague. The lowest number of outdoor advertisements is in the Pardubice and Zlín regions. There are 18 outdoor advertisements in both regions. The difference between outdoor advertisements in the Pardubice and Zlín regions is in their price. While in the Zlín Region outdoor advertising costs CZK 6,466, in the Pardubice Region it costs CZK 12,333. The results are beneficial for people who are interested in outdoor advertising. They are mostly beneficial for outdoor advertising producers to know their standing compared to their competition and other regions.

scholarly journals Transition economy and happiness the Czech Republic compared with the Netherlands in the 1990- 2004 period

2016 ◽  
Vol 10 (2-3) ◽  
pp. 119-126 ◽  
Author(s):  
JAC Van Ophem ◽  
V. Kohout ◽  
W.J.M. Heijman
Keyword(s):  
Czech Republic ◽  
The Netherlands ◽  
Transition Economy ◽  
Social Institutions ◽  
Subjective Health ◽  
Subjective Health Status ◽  
The Czech Republic ◽  
Living Together ◽  
The Impact

The paper deals with the subject Transition economy and happiness – a case study of the Czech Republic in a comparison with The Netherlands in the 1990- 2004 period. The paper addresses the following two questions: 1. How has the level of happiness changed since 1990 in the Czech Republic and in The Netherlands? 2. Are there differences with respect to variables that explain differences in happiness between both countries. It appears that. at the beginning of the 1990s of the last century, the Czechs were less happy than the Dutch and, that, people in the Czech Republic were less happy in 1999 than they were in 2004. Furthermore, Happiness in the Czech Republic is approaching the level of happiness in The Netherlands. In both countries happiness is positively affected by subjective health status, perceived freedom of choice over life, being married or living together and satisfaction with one’s financial situation and having trust in social institutions. But there are differences with respect to the impact of age, education and religion .

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