The impact of investments in energy conversation technologies on the economic performance of companies - example from the Czech Republic

Krause, Josef

doi:10.5755/j01.ee.28.4.14978

Cited by 3 publications

(3 citation statements)

References 15 publications

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“…For a comprehensive view of the current extent of the use of the lean concepts as a whole (or its individual methods), it is necessary to focus on studies from different areasquality, process performance, economic performance, competitiveness, etc. (Rajnoha & Lorincová, 2015;Krause, 2017;Kozubíková et al, 2015;Ginevičius et al, 2015;Rajnoha & Lesníková, 2016;Monni et al, 2017;Muhammad et al, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

The Use of Lean Methods in Central Eastern European Countries: the Case of Czech and Slovak Republic

Rajnoha¹,

Dobrovič²,

Gálová³

2018

Economics &Amp; Sociology

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Increasing competition, both at the global and local levels, shortening product life cycle, and strengthening customer's position are only some of the factors currently affecting the viability of businesses. To stay at a market, retain old and gain new customers businesses are constantly looking for new ways to improve. One of the possibilities to improve is the lean concept. This concept offers the ways to find the points with waste and eliminate them. The main objective of this research is to analyze the extent of lean methods' use in Central Eastern European countries-Czech and Slovak Republics. Two surveys were carried out independently of each other between 2013 and 2017. The purpose of the researchers was to determine the extent of the selected industrial engineering methods' use in both these countries through an online questionnaire survey. In general, the analyzed methods are more often implemented by businesses in Czech Republic, but the results also suggest that some of the analyzed methods are not implemented in these countries equally. E.g., Kaizen or 5S method are the methods more typical for the industrial companies in Czech Republic. On the other hand, for example, the Total Quality Management did not reveal statistically significant differences in the implementation by companies in Czech and Slovak Republics.

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Section: Literature Reviewmentioning

confidence: 99%

The Use of Lean Methods in Central Eastern European Countries: the Case of Czech and Slovak Republic

Rajnoha¹,

Dobrovič²,

Gálová³

2018

Economics &Amp; Sociology

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“…In this context in which companies in the energy sector, besides the crisis induced by Russia's invasion of Ukraine, face several challenges (such as climate change, pollution or scarce resources), they must understand the social, environmental, and economic impact of their activity, pressure from stakeholders being significantly enhanced (Waddock & Graves, 1997;Krause, 2017;Tariq et al, 2022). Thus, energy companies integrate into their activity a wide range of socially responsible actions that go beyond the legal requirements (Agudelo et al, 2020;Kludacz-Alessandri & Cyganska, 2021).…”

Section: Introductionmentioning

confidence: 99%

Drivers of Firms’ Financial Performance in the Energy Sector: A Comparative Approach between the Conventional and Renewable Energy Fields

Noja

Cristea

Pirtea

et al. 2023

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Given the sizeable importance of companies from the energy sector, and the economic, social, and environmental implications generated by their activity, an in-depth assessment of the relationship between financial performance and Corporate Social Responsibility (CSR) initiatives becomes essential for this sector. In this paper, we investigate the shaping factors of the financial performance of companies in the energy field, with a particular focus on the renewable energy sector, in a comparative approach with the conventional ones. The data were gathered from the Refinitiv Eikon database. The methodology applied consists of several advanced econometric procedures, namely robust regression and structural equation modelling. Our findings bring to the fore the distinctiveness of the main drivers of financial performance of companies from the renewable energy sector, compared with the conventional ones, for which specific policies and strategies are needed to comply with the CSR dimensions, as predictors of financial performance in the energy sector.

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“…Further studies address the implementation of the lean as a concept and include both the external environment (supply chains, strategic partnerships with suppliers and customer interaction) and the internal environment (processes, technology, quality, innovations, organizational aspects, social factors, sustainability etc.) (Tizroo et al, 2017;Sharma et al, 2015;Muhammad et al, 2017;Yoo & Seo, 2017;Rajnoha & Lesnikova, 2016;Monni et al, 2017;Krause, 2017;Kocmanova et al, 2017;Koraus et al, 2017;Afonina, 2015;Virglerova et al, 2016;Urban & Joubert, 2017;Kozubikova et al, 2015).…”

Section: Introductionmentioning

confidence: 99%

Measurement of Impact of Selected Industrial Engineering Practices on Companies’ Economic Performance

Rajnoha

Gálová

Rózsa³

2018

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Industrial engineering (IE) represents a significant tool how to eliminate waste in both manufacturing and other areas of the enterprise. This helps reduce costs, increase production effectiveness and other characteristics, which can lead to better competitiveness and performance. Finding IE methods that have significant impact on overall business performance is the main purpose of this paper. Another objective was to determine whether the impact of industrial engineering methods applies to all industries in the Czech Republic or whether it applies only to selected industries. The data was obtained through an online questionnaire survey, the survey focused on a wide range of manufacturing companies (N=235) from different industries, different sizes and ages. For comparing the overall business performance among individual respondents, a ROE 1 (Return on Equity) indicator was selected. To measure this indicator from the impact of the tax, investment and credit policy, a modified ROE indicator (ROE 2 calculated first with EBITDA-Earnings before Interest, Taxes, Depreciation and Amortization and then ROE 3 calculated with EBIT-Earnings before Interest and Taxes) was used. The results show that the use of IE methods in manufacturing plants is limited to a few selected methods. Similarly, only a few industrial engineering methods are typically used in high performance firms and can therefore be said to be involved in increasing performance. The statistically significant relationship between specific IE method and the higher performance measured by ROE 1 or ROE 2 was observed only for standardization, 5S, JIT, APS and six sigma. Presented research also shows that this influence of methods does not apply to individual IE methods globally in all the sectors studied, but only in some of them.

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The impact of investments in energy conversation technologies on the economic performance of companies - example from the Czech Republic

Cited by 3 publications

References 15 publications

The Use of Lean Methods in Central Eastern European Countries: the Case of Czech and Slovak Republic

The Use of Lean Methods in Central Eastern European Countries: the Case of Czech and Slovak Republic

Drivers of Firms’ Financial Performance in the Energy Sector: A Comparative Approach between the Conventional and Renewable Energy Fields

Measurement of Impact of Selected Industrial Engineering Practices on Companies’ Economic Performance

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