Corporate Interest Rates and the Financial Accelerator in the Czech Republic

We analyze the determinants of the corporate interest rates and the financial accelerator in the Czech Republic. Using a unique panel of 448 Czech firms from 1996 to 2002, we find that selected balance sheet indicators influence significantly the firm-specific interest rates. In particular, debt structure and cash flow have significant effects on interest rates, while indicators on collateral play no significant role. We find evidence that monetary policy has stronger effects on smaller firms than on medium and larger firms. Finally, we find no asymmetric effects in the monetary policy over the business cycle

Position of Women in Public Administration in Slovak Republic - the Case of Municipal Offices

Women present half of population in Slovak republic. Their position in society is still changing. Historical evidence shows, that despite of the same abilities of men and women, the position of women in society is often linked with taking care of children and household. Following the questionnaire survey results, this paper shows some similar trends of women position in private and public sector, especially the case of municipal offices as a part of public administration in Slovak republic

Accessibility of websites of the European national tourism boards

Purpose: The aim is to find out the current state of accessibility of the websites of European national tourism boards. Furthermore, the identification of the most common errors in terms of accessibility as well as recommendations leading to their correction is aimed for. Design/methodology/approach: The study is based on methods of testing the availability of web systems. The testing included automated tools, namely AChecker and Accessibility Evaluation Tool, as well as the WCAG 2.1 checklist developed by WebAIM initiative. Findings: The research has shown a relatively high accessibility of those websites. Nevertheless, some accessibility violations have been identified that can significantly complicate the accessibility of those websites for users using various assistive devices or other alternative hardware or software means. The most commonly identified errors include: failure to use alternative text for content-relevant images, the absence of text or audio transcripts for videos shared via Youtube, missing descriptions for text form elements and missing label for search form. Practical implications: The results of the research can be used in the evaluation of web presentations at the level of tourism boards and destination management. Originality/Value: The main output of this article is the application of web testing methodology on a comprehensive set of national tourist boards.peer-reviewe

Entrepreneurship in small and medium-sized enterprises: Comparative study between Slovakia and Poland for the years 2001-2007

The main attention of the submitted paper is devoted to the comparison of development of entrepreneurship in Slovak and Polish small and medium – sized enterprise sector. The conditions for blooming entrepreneurship are created in a national economy. Especially the role of SMEs in transition economy, both countries Slovakia and Poland, has impact on SMEs. Entrepreneurship of small and medium-sized enterprises, is extended in the whole Slovakia. From the viewpoint of regional structure most of enterprises are located in Bratislavsky region (30.4%), Košicky region (11.8%), Žilinsky region (10.1%) and Trenčiansky region (10.1%). On the other hand, the least of enterprises were registered in Nitriansky region (8.9%), Trnavsky region (9.2%) and Banskobystricky region (9.6%). Small and medium entrepreneurship is diverse throughout Poland. The average small and medium entrepreneurship ratio is 44.5, while the highest is in Mazowieckie Region 55.2, and the lowest in Podkarpackie Region 30. The supporting system for private entrepreneurship in both countries, Slovakia and Poland, is very similar and the entrepreneurs are satisfied with offer and help.entrepreneurship, small and medium – sized enterprise, Slovakia, Poland

Evaluation of key positions and employees management level in manufacturing industry - The Czech case

Human resources management, especially the key employees management, has fundamental influence on companies' sustainable business, which has to be considered as the priority of any business functioning. The aim of this paper is to evaluate current level of the key positions and employees management in the Czech business environment and to propose a process of its effective implementation and application in practice. Online questionnaire survey was provided using 105 companies operating in manufacturing industry of the Moravian-Silesian region as the sample. Statistical methods of data analysis were used. Fisher exact test, coefficients Phi and Cramer's V were counted to test relations between variables. The survey results include an evaluation of the present situation as it comes to the use of the key positions and employees management system as well as an identification of interests in new system implementation. There was a low rate of use of given system in these business, with two thirds of companies showing an interest in implementing the new system. The process of implementation and the use of the key positions and employees in practice was proposed. The process is suggested in the way to make its content and form be a certain guide and help for companies to realize particular activities of this process. It would contribute to the successful realization of complex and systematic approach towards the work with the key positions and employees.Web of Science121art. no. 24

Use of talent management by organizations in one of the regions of Czech Republic

The article aims at bringing information on the scope and the level of talent management at organizations in one of the Czech Republic regions, in the Moravian-Silesian Region. On the basis of the data acquired by the questionnaire survey it has been found that organizations in the above-mentioned region are implementing the system of talent management on a small scale: this approach is used by 3.8% of the organizations, that is only 9 out of 237 (100%) of the respondents. The main reasons why this approach is not used is either that organizations have no knowledge of it or there is lack of financial and personnel resources. The article suggests recommendations for a wider application of talent management in Czech practice.Web of Science1361053552

Organised Interests in the Energy Sector: A Comparative Study of the Influence of Interest Groups in Czechia and Hungary

In this article, we explore civil society mobilisation and the impact of organised interests on the energy policies of two post-communist countries - Hungary and Czechia - and specifically nuclear energy. Drawing on numerous hypotheses from the literature on organised interests, we explore how open both political systems are for civil society input and what interest group-specific and socio-economic factors mediate the influence of organised interests. Based on the preference attainment method, our case studies focus on the extent to which organised interests have succeeded bringing nuclear energy legislation in line with their preferences. We find that while both democracies are open to civil society input, policy-making is generally conducted in state-industrial circles, whereby anti-nuclear and renewable energy advocates are at best able to make minor corrections to already pre-determined policies

Are you prepared for a crisis? Survey at Czech small enterprises

A vulnerable position of small enterprises, their effort to understand the threats resulting from potential crises acted as an impulse for research aimed at mapping the current level of their preparedness for a crisis situation sorting out or the adaptation to changed conditions at the market. The paper interprets the results of the questionnaire survey at small enterprises in Czech Republic in 2009. The overall result of the questionnaire survey was finding that managers of small and medium enterprises knew threats relatively well, and they were aware of them but they did not prepare themselves in advance for their negative consequences, the preparation for crisis situations in those small enterprises was not considered a "normal" part of managers' work.Web of Science1371141140

Capital Structure Modelling and Analysis of its Impact on Business Performance

The aim of the paper was to investigate the impact of company's capital structure on its performance. To achieve the goal, the data of Slovak businesses were used. An input analysis of the capital structure of the selected sector was carried out in order to generalize and elaborate conclusions aimed at the capital structure of the businesses analysed. Selected indicators of capital structure were calculated to analyse the relationships between these indicators and business performance. The results of the correlation analysis were complemented by examining the impact of selected independent variables on business performance applying regression analysis and Principal Component Analysis. Based on the findings, capital structure model was formulated to quantify the impact of changes in capital structure on business performance. The contribution of the paper is the identification of capital structure indicators that affect business performance as well as the construction of capital structure model. The article as well as the research, which is the basis for paper elaboration, is the result of professional public interest focused on finding whether the capital structure is the determinant of business performance