scholarly journals CHANGES IN VIEW ON FINANCIAL POSITION AND PERFORMANCE OF A COMPANY AT APPLICATION OF THE IFRS IN THE CZECH REPUBLIC

2014 ◽  
Vol 14 (1) ◽  
pp. 16-23 ◽  
Author(s):  
Michaela Beranová ◽  
Josef Polák
Keyword(s):  
Czech Republic ◽  
The Czech Republic ◽  
Financial Position ◽  
And Performance ◽  
A Company

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 Accounting Policies in the Function of Quality Assessment of Financial Statements

2021 ◽  
Vol 59 (3) ◽  
pp. 357-373
Author(s):  
Jelena Raičević
Keyword(s):  
Quality Assessment ◽  
Financial Statements ◽  
Relevant Information ◽  
Cash Flows ◽  
Business Decisions ◽  
Financial Position ◽  
And Performance ◽  
Complex Relationships ◽  
A Company

Abstract Financial statements represent an instrument by which relevant information about a company is passed on to its users. Based on the information presented in the financial statements, i.e. information on the financial position and performance of the company, and generated cash flows and capital, users make business decisions. Specific accounting policies serve as the basis for the preparation of quality financial statements. Management is responsible for the preparation and presentation of financial statements and selects accounting policies. Although simple, the issue of choosing the accounting policies can be extremely delicate and complex. Besides management, there are other stakeholders who may be affected by this issue. As a consequence, there are complex relationships that affect the choice of accounting policies, and thus the quality of financial statements.

scholarly journals Decision Making, Interest Intermediation, and Value: In Government, Public, and Private Agencies Corporatism for Work Promotion

2020 ◽  
Vol 11 (4) ◽  
pp. 324-342
Author(s):  
Esien Eddy Bruno
Keyword(s):  
Decision Making ◽  
Czech Republic ◽  
Performance Monitoring ◽  
Paper Analysis ◽  
Public And Private ◽  
The Czech Republic ◽  
Transition To Work ◽  
Delegation Of Authority ◽  
And Performance ◽  
Public And Private Cooperation

Abstract This paper analysis decision making, interest intermediation, and value in the realm of government, public and private cooperation under corporatism to enable young third-country immigrants’ transition to work in Austria, Finland and the Czech Republic. Based on document analysis, this paper concludes a centralized delegation of authority, interest intermediations, and public values administrative devices in corporatism governance with democratic deficit that steer young third-country immigrants transition to work. However, the Czech Republic is dissimilar to Austria and Finland with the focus on relationship and partnership cooperation pattern to build contacts, where as Finland and Austria prefer cooperation in the form of coordinating varying employment objectives. The outcome points to deliberate democracy in neoliberal market-oriented setting. This is relevance to bureaucratic accountability and performance monitoring, but imperative to operational risk that may not only impair vulnerable people's belongings, but jeopardize public value accountability, sustainable finance and democratic values.

scholarly journals Strategic options for newly entering companies into the wine sector in the Czech Republic

2012 ◽  
Vol 60 (7) ◽  
pp. 387-398
Author(s):  
Radka Šperková ◽  
Renata Skýpalová
Keyword(s):  
Czech Republic ◽  
Gradual Increase ◽  
The Czech Republic ◽  
Market Shares ◽  
Methodological Tool ◽  
Ge Matrix ◽  
Wine Sector ◽  
Strategic Options ◽  
Business Entities ◽  
A Company

Market environment is currently characterised by a constant dynamic development and changing conditions. The wine sector in the Czech Republic has passed and still passes through a number of changes which affect the decisions of business entities that are considering whether to enter the industry or not. The importance of strategic management is on the rise in this area as well as the significance of a company strategies creation which give the company the instructions how to use their distinctive ability and transform it into a competitive advantage. With regard to the distribution of market shares of each of the companies in the market, it is considered that the market will enter two different size firms, i.e. company A and B, in which the fundamental assumptions have been chosen so that they simulate two extreme examples of enterprises that might emerge in the market. The two chosen types of businesses are proposed recommendations focused on the most effective entry with the use of a methodological tool – GE Matrix (General Electric). For the micro-enterprise (company B) it was a careful entry with minimising the entry investment, differentiation of production and subsequent gradual increase of the market share. For medium-sized enterprise (company A) it means the need of high investments, primarily to the purchase of technology and marketing.

scholarly journals Company Value, Real Options and Financial Leverage

10.14311/798 ◽  
2006 ◽  
Vol 46 (1) ◽  
Author(s):  
O. Drahovzal
Keyword(s):  
Czech Republic ◽  
Financial Resources ◽  
Debt Ratio ◽  
Financial Leverage ◽  
The Czech Republic ◽  
Company Value ◽  
Total Debt ◽  
Points Of View ◽  
A Company

This paper deals with determining of the value of companies and financial leverage. The author tries to find the optimum debt ratio for selected companies in the Czech Republic. The method of yield option extension is used for evaluating a company. The DCFC method was selected as the yield method, due to its simplicity. The dynamic model used allows us to make changes in the debt ratio with recalculations of all parameters that depend on it. The assessment is made from two points of view: Firstly, the maximum of the total amount of financial resources, and, secondly, the maximum of the inverse sums of the ROE index and the ratio of equity to the value of the company. The values of the total debt ratio and the long-term debt ratio are shown as results. 

scholarly journals Business Combinations of Czech Companies: Empirical Analysis of Their Typology

2018 ◽  
Vol 66 (1) ◽  
pp. 313-323 ◽  
Author(s):  
Jiří Pospíšil ◽  
Hana Vomáčková
Keyword(s):  
Czech Republic ◽  
Ownership Structure ◽  
Balance Sheet ◽  
Financial Statements ◽  
Fair Value ◽  
Descriptive Study ◽  
Business Combinations ◽  
The Czech Republic ◽  
Financial Position ◽  
Statistical Sample

This paper is a descriptive study which analyses company transformations - a subset of M&A - which took place in the Czech Republic in 2013. Based on the statistical sample containing detail data of 115 transformations, we analysed important aspects of company transformations (M&A) such as ownership structure of the participating companies, deployment of the effective date, acquisition date, balance-sheet date, date of registration and transformation project date, utilization of available forms of company transformations, utilization of financial statements for transformation purposes and incidence of fair-value revaluation. The results of the research shows, that majority of company transformations are in fact corporate holdings reorganisations rather than business combinations as defined by IFRS 3 and it also suggests that the rules for accounting for these transactions are in fact misused for distribution of earnings (even unrealized earnings) through the corporate holdings. We have also identified cases of severe distortion of faithful representation of successor’s company financial position, most often as a result of retrospective company transformations, where the effective day of the merger was put before the date of acquisition of the majority on target’s equity.

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.

Sign in / Sign up

Export Citation Format

Share Document