Sharing Economy as Unconventional Alternative to Traditional Transport Services

The sharing economy, as a developing business model, is becoming more and more popular. This phenomenon can be observed in many countries. The sharing economy, as a part of human life in its essence, has existed for a long time. In general, the sharing economy is considered an economic model where individuals or organizations share a certain type of property or, in this way, provide services for a financial reward. One of the most used sectors, where there is constant interest, is the shared transport of people, goods, and services. However, platforms operating in the shared transportation segment should be analysed from various points of view, such as their financial results and overall economic stability. The study is primarily focused on the sector of shared transport and transport services. The chief objective of the study was to demonstrate the impact of the COVID-19 pandemic on shared transport and transport services within the territory of the Slovak Republic. The analysis included ride-hailing platforms such as Bolt Services SK as well as food and dining delivery platforms such as Wolt Slovakia. Through appropriately chosen methods of financial and economic analysis, the situation of the platforms before and during the COVID-19 pandemic was determined. We also performed an analysis of the development of the number of cars and the related level of automobilization in the territory of the Slovak Republic, since the shared economy represents an alternative to conventional economic models

The Growth of Research in Earnings Management Phenomenon

The practice of earning management is the use of accounting methods to create financial statements that favourably portray a company's operations and financial standing. The issue of earnings management is theoretically defined in the paper from two angles - theoretical and visual analysis. The paper offers various sources and different earnings management-related elements at the theoretical level. The objective of the paper is to outline the most recent developments in the research field of earnings management, which is a subset of a larger collection of ideas, including financial fraud, employee incentives, and governmental laws to reveal the effects and consequences these practices may have on. The stakeholders and capital market. By expressing the publishing activity in the scientific section of Web of Science over the span of 67 years, the visual portion is also presented using bibliometric analysis- a method for exploring and analysing large amounts of scientific data. The accepted outputs are also particular instances of companies with a history of deception, understood in terms of their revenue report. The theoretical level for the idea of earnings management, as well as a visual comprehension of the significance of this earnings management issue, are presented in a long-term horizon to declare and underline the importance of the research issue in corporate practice

A Systematic Review of Literature and Comprehensive Bibliometric Analysis of Capital Structure Issue

Economists have been dealing with the issue of using sources of financing in business activities for more than half a century. The search for a suitable combination of equity and debt financing has led to a number of studies and later theories that deal with the issue of capital structure optimization. The authors often focus in their publications on whether the capital structure of the enterprise can be optimized or whether the business activities and the fulfilment of its main objectives are conditioned by the management of financial resources. For this reason, the issue of capital structure is constantly highly topical. The main goal of this research paper is to clarify the basic concepts associated with the question about the capital structure of enterprise. The analysis was preceded by a detailed study of the publications by identifying the most crucial research papers, countries, and authors in the Web of Science database. The term capital structure was a search keyword focused on scientific research papers published in the Web of Science database during 2010-2021. The final search result with all available information was exported and subsequently used to create the bibliometric map itself in the VOS Viewer program. The results of the bibliometric analysis show that the keywords capital structure and determinants are the two most related words using the analysis of citations of common occurrence, and the most crucial international co-author relations arose between the USA and China

Application of Clark and Wright´s Savings Algorithm Model to Solve Routing Problem in Supply Logistics

Distribution logistics is an inseparable part of a logistics chain. It starts at the moment of a finished product supply to a warehouse of finished products and ends at the moment of its delivery to a final customer. Only a minimal amount of products is supplied directly to the final customer. It is more common to supply the product to the customer indirectly using several distribution degrees. While the product is supplied to the final customer, it is necessary to encompass a whole range of logistics activities. The objective of the article is to highlight the possibility of solving the problem of routing according to Clarke-Wright´s method. It is one of a large number of heuristic methods which solves the problem of vehicle routing

Application of Chosen Fraudulent Detection Technique in the Slovak Business Environment

The paper analyses the possibility of applying chosen fraudulent detection technique in the condition of Slovakia and then evaluates its explanatory power. The authors based on the idea that in addition to positive effects of globalization, negative effects on the activity of economic entities are also manifestations of this process. As the society has become more dependent on information technologies, increased globalisation and greater interconnectedness, certain exposure to negatives has expanded right along with them. One of this negative effect is clearly a financial crime of various type, including fraudulent financial reporting. The financial statements should “describe” factually and truthfully the financial and economic health of a company because it is the main sources of information for various type of stakeholders. Handling of it (considering in the context of financial crime) is primary the responsibility of owners or managers (provided the separation of the ownership structure from the management structure). Reasons for doing so are different. Their common denominator is the artificial creation of information asymmetry to obtain different “benefits”. It is therefore logical that the need for constructing techniques that would reveal an unacceptable legal action by a company in a financial reporting process is at the forefront

The Nexus between Smart Sensors and the Bankruptcy Protection of SMEs

Transportation, logistics, storage, and many other sectors provide a wide space for applying Industry 4.0. This era, with its components, represents the equipment necessary to obtain a unique competitive advantage. Being smart through sensors, big data, and digitalization corresponds not only to evolution but also provides protection for businesses in the face of depression. The COVID-19 pandemic caused collapses and defects for very large enterprises and large enterprises, especially for small and medium-sized enterprises (SMEs). This article focuses on SMEs and their profits from using smart sensors. Thus, the aim was to expose the striking effect of Industry 4.0 on earnings during the crisis in the Visegrad Four. The Mann–Kendall trend was used to map the consequences contrasting the period of 2016–2021. The investigation involved samples from 1221 Slovak, 259 Czech, 855 Polish, and 2156 Hungarian enterprises. The results showed that more than 80% of businesses did not have a negative trend in how their earnings changed over time. This fact was confirmed by a z-test for the comparison of one proportion for each analyzed country. The adaptation to Industry 4.0 strengthened the muscle for bankruptcy resilience during the crisis. In addition, it may encourage enterprises to be smart in the same or different sectors

Logit business failure prediction in V4 countries

The paper presents the creation of the model that predicts the business failure of companies operating in V4 countries. Based on logistic regression analysis, significant predictors are identified to forecast potential business failure one year in advance. The research is based on the data set of financial indicators of more than 173 000 companies operating in V4 countries for the years 2016 and 2017. A stepwise binary logistic regression approach was used to create a prediction model. Using a classification table and ROC curve, the prediction ability of the final model was analysed. The main result is a model for business failure prediction of companies operating under the economic conditions of V4 countries. Statistically significant financial parameters were identified that reflect the impending failure situation. The developed model achieves a high prediction ability of more than 88%. The research confirms the applicability of the logistic regression approach in business failure prediction. The high predictive ability of the created model is comparable to models created by especially sophisticated artificial intelligence approaches. The created model can be applied in the economies of V4 countries for business failure prediction one year in advance, which is important for companies as well as all stakeholders

Beneish M-score: A measure of fraudulent financial transactions in global environment?

Research background: Earnings is a source of information for capital owners, potential investors, competitors, customer and supplier of the company. Managers have the direct motivation and knowledge and use adequate techniques to adjust legally the reported earnings to meet the specific requirements of the company and achieve stable financial results. Thus, earnings management is currently the most provocative and highly topical issue in the field of finance and accounting at the global perspective. Purpose of the article: The main purpose of the paper is to detect the manipulation with earnings in a specific sector of economy, following the global principles of financial reporting, and to reveal the degree of manipulation of enterprises in the selected countries of the Visegrad grouping. Methods: The model of Beneish M-score is applied using the sectoral data and compares the level of manipulation in the period 2015-2019. The Beneish model is a mathematical-statistical model that uses financial ratios calculated with accounting data of a specific enterprise aimed to detect if an enterprise is likely that the reported earnings of the company were manipulated. Findings & Value added: The paper monitors the development of the manipulation with earnings in the given sector (enterprises tend to manage earnings upwards), and analyses the influences of macroeconomic factors on the phenomenon of earnings management. The detection of earnings management by M-score helps protect business partners of an enterprise against fraudulent behaviour, especially in the global environment

Logit business failure prediction in V4 countries

The paper presents the creation of the model that predicts the business failure of companies operating in V4 countries. Based on logistic regression analysis, significant predictors are identified to forecast potential business failure one year in advance. The research is based on the data set of financial indicators of more than 173 000 companies operating in V4 countries for the years 2016 and 2017. A stepwise binary logistic regression approach was used to create a prediction model. Using a classification table and ROC curve, the prediction ability of the final model was analysed. The main result is a model for business failure prediction of companies operating under the economic conditions of V4 countries. Statistically significant financial parameters were identified that reflect the impending failure situation. The developed model achieves a high prediction ability of more than 88%. The research confirms the applicability of the logistic regression approach in business failure prediction. The high predictive ability of the created model is comparable to models created by especially sophisticated artificial intelligence approaches. The created model can be applied in the economies of V4 countries for business failure prediction one year in advance, which is important for companies as well as all stakeholders