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.

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 Proposal of the Functional System for the Airline Companies Financial Situation Assessment

2019 ◽  
Vol 21 (1) ◽  
pp. 3-8
Author(s):  
Ondrej Stopka ◽  
Ladislav Bartuska ◽  
Jacek Caban ◽  
Larisa M. Kapustina
Keyword(s):  
Economic Performance ◽  
General Procedure ◽  
Functional System ◽  
Aviation Industry ◽  
Financial Indicators ◽  
Financial Health ◽  
Financial Situation ◽  
Advantages And Disadvantages ◽  
The Individual

This paper presents the draft methodology to be applied for evaluating the financial health of airlines. In the introductory part, specific attributes, regarding the individual types of airlines, are described. Subsequent parts of the manuscript outline advantages and disadvantages to measure airlines performance when implementing financial indicators, as well as a general procedure to evaluate the financial situation of a company operating in the aviation industry. The most important part of the paper includes the proposal of the specific functional system to evaluate the economic performance of airlines. Financial evaluation itself (evaluation of financial indicators of the enterprise‘s economic performance) is performed through a particular case study when comparing several existing airlines.

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 Practical application of the CCB model in Czechia

2021 ◽  
Vol 39 (2) ◽  
pp. 299-323
Author(s):  
Vitezslav Halek
Keyword(s):  
Czech Republic ◽  
Financial Distress ◽  
Prediction Method ◽  
Bankruptcy Prediction ◽  
Clothing Industry ◽  
Financial Indicators ◽  
Practical Application ◽  
Data Set ◽  
The Czech Republic ◽  
Financial Situation

This research aimed to present a new bankruptcy prediction model and apply this original prediction method in practice. The Come Clean Bankruptcy (or CCB) model uses relevant financial indicators and ratios to detect the signs of impending financial distress in time so that the management can take appropriate measures to avoid it. The model was applied to the data reported by 199 entities operating in the textile/clothing industry in the Czech Republic. Analyzing data reported for the previous seven years enabled us to predict which companies are more likely to end in a difficult financial situation. Afterward, comparing these predictions with the actual development of those companies in 2013-2020 serves to verify the efficacy and usability of the model to corporate reality. The research has shown that companies that went bankrupt in the analyzed period represented only a fraction of the data set (roughly 4.5%). Despite the small number of financial failures occurring during the analyzed period, the CCB model could detect impending bankruptcy in one-third of the cases.

The Differential Effectiveness of the Cognitive Interview Instructions for Enhancing Witnesses’ Memory of a Familiar Event

2014 ◽  
Vol 73 (1) ◽  
pp. 25-34 ◽  
Author(s):  
Magali Ginet ◽  
Jacques Py ◽  
Cindy Colomb
Keyword(s):  
Cognitive Interview ◽  
Critical Event ◽  
Surgical Operation ◽  
Differential Effectiveness ◽  
Correct Information ◽  
Control Instruction ◽  
The Individual ◽  
Practical Implications

This study examines the influence of familiarity on witnesses’ memory and the individual effectiveness of each of the four cognitive interview instructions in improving witnesses’ recall of scripted events. Participants (N = 195), either familiar or unfamiliar with the hospital script, were presented with a video of a surgical operation. One week later, an interviewer used one of the four cognitive interview instructions or a control instruction to ask them about the video. Participants familiar with the surgery context recalled significantly more correct information and, in particular, more consistent and irrelevant details than those unfamiliar with the surgery context. Furthermore, the results confirmed the effectiveness of all four cognitive interview mnemonics in enhancing the amount of correct information reported, irrespective of the participants’ familiarity with the critical event. However, their efficacy differed depending on the category of details considered. The practical implications of these results are discussed.

scholarly journals Individual Alpha Peak Frequency, an Important Biomarker for Live Z-Score Training Neurofeedback in Adolescents with Learning Disabilities

2021 ◽  
Vol 11 (2) ◽  
pp. 167
Author(s):  
Rubén Pérez-Elvira ◽  
Javier Oltra-Cucarella ◽  
José Antonio Carrobles ◽  
Minodora Teodoru ◽  
Ciprian Bacila ◽  
...  
Keyword(s):  
Learning Disabilities ◽  
Pediatric Population ◽  
Peak Frequency ◽  
Normative Values ◽  
Z Score ◽  
Absolute Power ◽  
The Individual ◽  
And Behavior ◽  
The Waves ◽  
Alpha Peak

Learning disabilities (LDs) have an estimated prevalence between 5% and 9% in the pediatric population and are associated with difficulties in reading, arithmetic, and writing. Previous electroencephalography (EEG) research has reported a lag in alpha-band development in specific LD phenotypes, which seems to offer a possible explanation for differences in EEG maturation. In this study, 40 adolescents aged 10–15 years with LDs underwent 10 sessions of Live Z-Score Training Neurofeedback (LZT-NF) Training to improve their cognition and behavior. Based on the individual alpha peak frequency (i-APF) values from the spectrogram, a group with normal i-APF (ni-APF) and a group with low i-APF (li-APF) were compared in a pre-and-post-LZT-NF intervention. There were no statistical differences in age, gender, or the distribution of LDs between the groups. The li-APF group showed a higher theta absolute power in P4 (p = 0.016) at baseline and higher Hi-Beta absolute power in F3 (p = 0.007) post-treatment compared with the ni-APF group. In both groups, extreme waves (absolute Z-score of ≥1.5) were more likely to move toward the normative values, with better results in the ni-APF group. Conversely, the waves within the normal range at baseline were more likely to move out of the range after treatment in the li-APF group. Our results provide evidence of a viable biomarker for identifying optimal responders for the LZT-NF technique based on the i-APF metric reflecting the patient’s neurophysiological individuality.

scholarly journals Effect of individual- versus collective-based nutritional-lifestyle intervention on the atherogenic index of plasma in children with obesity: a randomized trial

2021 ◽  
Vol 18 (1) ◽  
Author(s):  
Elvira Verduci ◽  
Giuseppe Banderali ◽  
Elisabetta Di Profio ◽  
Sara Vizzuso ◽  
Gianvincenzo Zuccotti ◽  
...  
Keyword(s):  
Body Mass Index ◽  
Lifestyle Intervention ◽  
Body Mass ◽  
Univariate Analysis ◽  
Atherogenic Index ◽  
Z Score ◽  
Blood Profile ◽  
Atherogenic Index Of Plasma ◽  
Paediatric Obesity ◽  
The Individual

Abstract Background The Atherogenic Index of Plasma is a predictive biomarker of atherosclerosis in adults but there is a lack of studies in paediatric population aimed at evaluating the longitudinal changes of the AIP and of the cardiometabolic blood profile related to nutritional interventions. The aim of this study was to compare the effect of individual- versus collective-based nutritional-lifestyle intervention on the Atherogenic Index of Plasma in schoolchildren with obesity. Methods One-hundred sixty-four children aged 6–12 years with Body Mass Index z-score > 2 referred to the Paediatric Obesity Clinic, San Paolo Hospital, Milan, Italy, were consecutively enrolled and randomized to undergo to either an individual- (n = 82) or a collective- (n = 82) based intervention promoting a balanced normo-caloric diet and physical activity. In addition, the individual intervention included a tailored personalized nutritional advice and education based on the revised Coventry, Aberdeen, and London-Refined taxonomy. Both at baseline and after 12 months of intervention, dietary habits and anthropometric measures were assessed, a fasting blood sample were taken for biochemistry analysis. Results The participation rate at 12 months was 93.3% (n = 153 patients), 76 children in the individual-intervention and 77 children in the collective intervention. At univariate analysis, mean longitudinal change in Atherogenic Index of Plasma was greater in the individual than collective intervention (− 0.12 vs. − 0.05), as well as change in triglyceride-glucose index (− 0.22 vs. − 0.08) and Body Mass Index z-score (− 0.59 vs. − 0.37). At multiple analysis, only change in Body Mass Index z-score remained independently associated with intervention (odds ratio 3.37). Conclusion In children with obesity, an individual-based nutritional and lifestyle intervention, including techniques from the CALO-RE taxonomy, could have an additional beneficial effect over a collective-based intervention, although the actual size of the effect remains to be clarified. Trial Registration Clinical Trials NCT03728621

scholarly journals Incidence of Characteristic Findings during Veterinary Carcass Inspections 2010–2019 in the Czech Republic and the Relation to the Level of Health and Welfare of Individual Classes of Cattle

Animals ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 537
Author(s):  
Michal Kaluza ◽  
Vladimir Vecerek ◽  
Eva Voslarova ◽  
Zbynek Semerad ◽  
Annamaria Passantino
Keyword(s):  
Czech Republic ◽  
Health Issues ◽  
Pathological Findings ◽  
Pathological Changes ◽  
Great Intensity ◽  
The Czech Republic ◽  
Stunted Growth ◽  
Liver And Pancreas ◽  
Systemic Disorder ◽  
The Individual

Pathological findings in individual classes of cattle were assessed from the viewpoint of their localization and category. The objective of the study was to evaluate whether there are differences in the range and number of findings made between the individual classes of cattle. The results of veterinary inspections on 2,514,666 head of cattle slaughtered in the Czech Republic in the period 2010–2019 were used for the assessment. In terms of localization, the most frequent findings in cows were in the liver and pancreas (46.13%), the urinary tract (40.76%) and the lungs (36.23%). These findings also predominated in heifers and bulls, though they were recorded at lower frequencies (p < 0.01) than in cows. The most frequent pathological changes in heifers and bulls were chronic findings in the lungs (16.09% and 12.27%, respectively). The range of findings in calves differed significantly from other classes of cattle, primarily as the result of respiratory and diarrheal syndrome being the most frequent diseases in calves. Calves were the class of cattle most frequently diagnosed with findings in the lungs (44.89%), as well as other unclassified changes (24.43%) and overall changes (21.55%), which point to a systemic disorder of the organism. The results of this study confirmed the differing states of health in the individual classes of cattle and the differing health issues to which treatment and the prevention of the most frequently occurring infectious and non-infectious diseases must be adapted. Cattle welfare is affected not only by the level of health but also by the herd management and economics. This is confirmed by the range of findings, and the deterioration of living conditions especially in cows, likely because of great intensity of farming, but also in calves which suffered from emaciation or stunted growth.

Entrepreneurship in regions: differentiated impacts of the socio cultural and gender types

2015 ◽  
Vol 28 (1) ◽  
pp. 45-76 ◽  
Author(s):  
Claudio Mancilla ◽  
José Ernesto Amorós
Keyword(s):  
Negative Impact ◽  
Positive Impact ◽  
Fear Of Failure ◽  
Content Type ◽  
Reference Models ◽  
Cultural Aspects ◽  
And Gender ◽  
The Individual ◽  
Practical Implications ◽  
Secondary City

Purpose The purpose of this paper is to study the differentiated impact of factors that influence the propensity to entrepreneur in a sample of people in Chile. A distinction is made between individuals that live in primary cities and secondary cities. The differentiating factors are socio‐cultural aspects (reference models – positive examples of entrepreneurs – and perception of social fear of failure) and the gender of the individual. Design/methodology/approach For the research data from the survey used in Chile by the Global Entrepreneurship Monitor for the years 2010 and 2011 were used. A logit model was used to determine the differentiated impact of the analysed factors and interactions were done using the method proposed by Corneliâen and Sonderhof (2009). Findings These showed that the fact that an individual lives in a secondary city decreases his entrepreneurship probability. The positive impact that the reference models have is weaker in women. Contrary to what was expected, the negative impact of the fear of failure perception is weaker in women. Practical implications These results have the implications to suggest focused public policies and differentiations that consider the socio‐cultural, territorial (focused in cities) and gender aspects. Originality/value The research contributes by giving empirical evidence of the existence of the negative impact of living in a secondary city and of differentiated effects of socio‐cultural factors from the gender perspective.

Digital competences of the workforce – a research topic?

2017 ◽  
Vol 23 (3) ◽  
pp. 721-734 ◽  
Author(s):  
Matthias Murawski ◽  
Markus Bick
Keyword(s):  
Research Topic ◽  
Future Research ◽  
Digital Competence ◽  
Content Type ◽  
Research Activities ◽  
Starting Point ◽  
Pros And Cons ◽  
Definition Of ◽  
The Individual ◽  
Practical Implications

Purpose Considering working in the digital age, questions on the consequences for the individual workers are, so far, often neglected. The purpose of this paper is to deal with the question of whether the digital competences of the workforce is a research topic. The authors argue for the thesis that it is indeed a research topic. Design/methodology/approach In addition to a literature analysis of the top IS, HR, and learning publications, non-scientific sources, as well as the opinions of the authors, are included. The authors’ thesis is challenged through a debate of corresponding pros and cons. Findings The definition of digital competences lacks scientific depth. Focussing on the workforce is valid, as a “lifelong” perspective is not mandatory for research. Digital competence research is a multidisciplinary task to which the IS field can make a valuable contribution. Research limitations/implications Although relevant references are included, some aspects are mainly driven by the opinions of the authors. The theoretical implications encompass a call for a scientific definition of digital competences. Furthermore, scholars should focus on the competences of the workforce, including occupations, roles, or industries. The authors conclude by providing a first proposal of a research agenda. Practical implications The practical implications include the alignment of multiple stakeholders for the design of “digital” curricula and the integration by HR departments of the construct of digital competences, e.g. for compensation matters and job requirements. Originality/value This paper is one of very few contributions in the area of the digital competences of the workforce, and it presents a starting point for future research activities.

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