After the recent financial crisis the need for unchallenged tools evaluating the financial health of enterprises has even arisen. Apart from well-known techniques such as Z-score and logit models, a new approaches were suggested, namely the data envelopment analysis (DEA) reformulation for bankruptcy prediction and production function-based economic performance evaluation (PFEP). Being recently suggested, these techniques have not yet been validated for common use in financial sector, although as for DEA approach some introductory studies are available for manufacturing and IT industry. In this contribution we focus on the thorough validation calculations that evaluate these techniques for the specific agribusiness industry. To keep the data as homogeneous as possible we limit the choice of agribusiness companies onto the area of the countries of Visegrad Group. The extensive data set covering several hundreds of enterprises were collected employing the database Amadeus of Bureau van Dijk. We present the validation results for each of the four mentioned methods, outline the strengths and weaknesses of each approach and discuss the valid suggestions for the effective detection of financial problems in the specific branch of agribusiness.
It is a common fact, that innovations are the necessary prerequisite of economic development. With regard to the gradual globalization of the world economy, it is obvious that the strategic objectives of every country are directed to own economic wealth which is lead especially by the small and medium-sized enterprises. Due to the fact that these business entities are creating the most of economic growth of every country, the necessity of research, support and development of their innovation potential is obvious. The last and also the least that one could starve for is the building up the barriers to innovativeness of domestic companies, and to decrease competitiveness of the country.In the paper, the authors are focused on the determination of barriers to innovation potential of small and medium-sized enterprises. For this reason, the secondary research of recent studies on innovation barriers has been elaborated. Subsequently, the primary research has been realized on the statistical sample of 173 SMEs. Based on the data analyses, the authors have proved four statistical interactions between innovation potential and factors which stand as barriers to innovation potential development. This paper is based on the confrontation of outcomes of primary research with the secondary research on world-wide perceived barriers to innovations. Data obtained from the primary research had mostly the qualitative and categorical character. Due to this fact, especially Chi-square Test, normalized Pearson coefficient of contingence and Chuprov’s coefficient have been applied.
The impact of financial and economic crisis influencing economic development in EU countries is analysed predominately on macroeconomic level. Major part of economic studies analyse the effect of crisis on both real and potential economic growth, unemployment, inflation and debt dynamic. However the effects of the crisis are visible also at microeconomic level. The economic results of businesses are significantly influenced by the negative macroeconomic development at both national and international level. Both decrease in potential growth and purchasing power due to economic recession and more restrictive fiscal policy have a direct impact on aggregate demand and thus the microeconomic sector as whole. Additional source of problems is connected with banking sector crisis and the access to financing mainly for small and medium-sized enterprises (SME’s). The aim of the paper is to fill the gap in economic research and to analyse the impact of the ongoing crisis on business entities in selected eurozone member countries. Authors selected two eurozone member countries from EU periphery (Greece and Ireland). Both countries are severely hit by economic crisis and authors suppose that also their business sector will be significantly influenced. However author believes that the structural differences will lead over the time in faster recovery of Irish businesses in contrast to the Greek one.We create dataset using Amadeus database which contains the harmonized data about statistically significant set of business in selected countries. Authors then sorting the data according selected variables such as size of the company, NACE categorization and comparative indicators of individual business economic performance, namely representatives of indicators groups profitability, solvency, liquidity and indebtedness/financial structure of business entities. For the purpose of analysis authors analyse the data series three years before the crisis (2005, 2006 and 2007) and the three years of crisis (2008, 2009 and 2010). The dataset consists of 3,567 business entities in both observed countries. In the study we use the cluster analysis to detect some basic patterns and trends in business sector in terms of homogeneity within dataset. Based on the results of microeconomic environment analysis (impact of crisis and national economic policies) authors assess the optimal reaction of economic policy (both national and EU) to improve the condition of businesses which authors believe are the source of future economic recovery.
Groups of agricultural producers had been established in the former Czechoslovakia already in 1930s and with the transition to a market economy it is again relevant to think about the renewal of some type of economic partnership among agricultural producers. The need to establish a group of agricultural producers may occur in the broader context of increasing dynamics within current competitive forces’ models with regard to even relatively less dynamic sector of agriculture. Further development of this kind of economic partnership among agricultural producers in the Czech Republic is eligible for support via public subsidies, namely by Common Agricultural Policy. Nevertheless many agricultural producers are still facing tougher foreign direct competitors after EU accession as single economic units instead of establishing new or joining existing producer groups, namely in production of fruit and vegetables. Authors identify and describe subsidies currently available for further establishment of economic cooperation within structures of agri-food complex and agricultural producers. This is followed by a framework economic analysis of the whole fruit and vegetables production sector within year period 2004–2009 using Farm Accountancy Data Network with the focus on established producer groups using financial statements issued in Business Register of the Czech Republic.
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