Detail publikace

The Evaluation of Financial Performance of Manufacturing Firms in the Czech republic and in 28 countries of the European Union and the effect of the Economic Crisis

Originální název

The Evaluation of Financial Performance of Manufacturing Firms in the Czech republic and in 28 countries of the European Union and the effect of the Economic Crisis

Anglický název

The Evaluation of Financial Performance of Manufacturing Firms in the Czech republic and in 28 countries of the European Union and the effect of the Economic Crisis

Jazyk

en

Originální abstrakt

The aim of this article is to determine impact the economic crisis on the financial performance of Czech manufacturing firms and its subsequent comparison with manufacturing firms from 28 EU countries over the past ten years (2006-2015 ) and find evidence of relations between selected financial indicators in the selected divisions. The article is based on secondary quantitative research conducted among SMEs in the Czech Republic and 28 countries from EU. Relevant data are acquired from the database Amadeus. The sample contains 1,412 firms operating in the domestic manufacturing industries and of 14,881 firms in the same category operating in 28 EU countries. The analysis of development of sales in selected period and three financial indicators were selected to obtain proper results. The findings are processed using statistical indicator, Winsorized mean and Spearman correlation. Firstly, development of the sales together with added value is applied and shows a positive result represented by the increase in the studied period. More significant increase has been recognized withnin sample of Czech manufacturing firms. Secondly, a Return on Assets demonstrates evident impact of the financial crisis in the year of its onset. The last indicator used for purposes of this paper, Total Debt shows decreases tendency. As was shown by the literature, the impact of the financial crisis on firm performance is of great importance. Over the past ten years, the financial health of industrial enterprises in the country has increased the financial health. The growth of financial efficiency of industrial enterprises in the Czech Republic was higher than in the 28 EU countries. There is clear evidence of strong relation betweenr Total Debt ratio of Czech companies and Added Value on Sales where the higher Debt Ratio is accompanied by lower Added Value on Sales. companies and Added Value on Sales where the higher Debt Ratio is accompanied by lower Added Value on Sales.

Anglický abstrakt

The aim of this article is to determine impact the economic crisis on the financial performance of Czech manufacturing firms and its subsequent comparison with manufacturing firms from 28 EU countries over the past ten years (2006-2015 ) and find evidence of relations between selected financial indicators in the selected divisions. The article is based on secondary quantitative research conducted among SMEs in the Czech Republic and 28 countries from EU. Relevant data are acquired from the database Amadeus. The sample contains 1,412 firms operating in the domestic manufacturing industries and of 14,881 firms in the same category operating in 28 EU countries. The analysis of development of sales in selected period and three financial indicators were selected to obtain proper results. The findings are processed using statistical indicator, Winsorized mean and Spearman correlation. Firstly, development of the sales together with added value is applied and shows a positive result represented by the increase in the studied period. More significant increase has been recognized withnin sample of Czech manufacturing firms. Secondly, a Return on Assets demonstrates evident impact of the financial crisis in the year of its onset. The last indicator used for purposes of this paper, Total Debt shows decreases tendency. As was shown by the literature, the impact of the financial crisis on firm performance is of great importance. Over the past ten years, the financial health of industrial enterprises in the country has increased the financial health. The growth of financial efficiency of industrial enterprises in the Czech Republic was higher than in the 28 EU countries. There is clear evidence of strong relation betweenr Total Debt ratio of Czech companies and Added Value on Sales where the higher Debt Ratio is accompanied by lower Added Value on Sales. companies and Added Value on Sales where the higher Debt Ratio is accompanied by lower Added Value on Sales.

BibTex


@inproceedings{BUT138831,
  author="Vojtěch {Bartoš} and Denisa {Jelčová}",
  title="The Evaluation of Financial Performance of Manufacturing Firms in the Czech republic and in 28 countries of the European Union and the effect of the Economic Crisis",
  annote="The aim of this article is to determine impact the economic crisis on the financial performance of Czech manufacturing firms and its subsequent comparison with manufacturing firms from 28 EU countries over the past ten years (2006-2015 ) and find evidence of relations between selected financial indicators in the selected divisions. The article is based on secondary quantitative research conducted among SMEs in the Czech Republic and 28 countries from EU. Relevant data are acquired from the database Amadeus. The sample contains 1,412 firms operating in the domestic manufacturing industries and of 14,881 firms in the same category operating in 28 EU countries. The analysis of development of sales in selected period and three financial indicators were selected to obtain proper results. The findings are processed using statistical indicator, Winsorized mean and Spearman correlation. Firstly, development of the sales together with added value is applied and shows a positive result represented by the increase in the studied period. More significant increase has been recognized withnin sample of Czech manufacturing firms. Secondly, a Return on Assets demonstrates evident impact of
the financial crisis in the year of its onset. The last indicator used for purposes of this paper, Total Debt shows decreases tendency. As was shown by the literature, the impact of the financial crisis on firm performance is of great importance. Over the past ten years, the financial health of industrial enterprises in the country has increased the financial health. The growth of financial efficiency of industrial enterprises in the Czech Republic was higher than in the 28 EU countries. There is clear evidence of strong relation betweenr Total Debt ratio of Czech companies and Added Value on Sales where the higher Debt Ratio is accompanied by lower Added Value on Sales.
companies and Added Value on Sales where the higher Debt Ratio is accompanied by lower
Added Value on Sales.",
  booktitle="Finance and performance of firms in science, educaion and practice: Proceedings of the 8th International Scientific Conference",
  chapter="138831",
  howpublished="online",
  year="2017",
  month="april",
  pages="57--70",
  type="conference paper"
}