The influence of some factors of competitiveness on business risks

The impact of significant competition factors on the riskiness of business risk in the SMEs sector in the Czech Republic and Slovak Republic. The empirical research was constructed on the basis a questionnaire. The attitudes from 641 entrepreneurs from two countries were collected during the year 2018. The statistical hypotheses were evaluated using quantitative methods. The multiple linear regression models were used to evaluate the impact of the competitive environment and of the narrow business environment on the perception of the riskiness of business risk according to entrepreneurs. The conclusions ofthe research showed an interesting finding. The authors found that the competitive environment, as well as the narrower business environment, affects the perception of the riskiness of business risk. It has also been shown that my customers accept the prices of my products and services. This is the most important indicator of a competitive environment. The most important indicator of a narrower business environment is that my customers support me in doing business. The authors believe that the article has brought several interesting findings and new incentives for the further research and discussion regarding to the perception of enterprise risk not only in the selected countries this research. © 2020 The Author(s)

Theoretical Aspects of Brand Building in Seafood Industry

The aim of this paper is to describe theoretical aspects of brand building in seafood industry, because of its perpectives and the lack of brand building practice in this field. According to this, basics elements of brands are described and brand building and tools of brand concept development are analyzed

Collateral requirements for SME loans: empirical evidence from the Visegrad countries

The purpose of this paper is to examine the determinants of collateral for small and medium enterprises (SMEs) in the context of Visegrad countries: Czech Republic, Slovak Republic, Hungary and Poland. The data set for this paper was obtained from the Business Environment and Enterprise Performance Survey (BEEPS), which was conducted by the World Bank and the European Bank for Reconstruction and Development (EBRD) from 2012-2014. A binary logistic regression model with different specifications was employed to examine the effect of independent variables on the incidence of collateral. The results show that risky borrowers need to pledge collateral and the reduction of asymmetric information can lower the incidence of collateral for SMEs. Moreover, we find that female borrowers are more likely to pledge collateral than male borrowers are. The results also suggest that loans with a longer maturity are more likely to be collateralized than short-term loans. We find evidence that bank-borrower proximity can alleviate the incidence of collateral whereas bank concentration may increase collateral requirements. Policy makers may consider these results to implement policies that can promote bank competition and can lower collateral requirements for female borrowers. The paper contributes to the ongoing debate on the determinants of collateral.Internal Grant Agency of FaME TBU [IGA/FaME/2017/010

Does bank ownership affect relationship lending: A developing country perspective

In this paper we aim to explore how the type of bank ownership - local private banks, government-owned banks (public banks) and foreign banks - can affect relationship lending to small and medium enterprises (SMEs) by using a unique data set from Bangladeshi banking sector. We found that private banks differ from government-owned and foreign banks in terms of relationship lending and credit facilities to SMEs. More specifically, our results suggest that unlike government and foreign banks, private banks do consider soft information from relationship lending while setting up the loan spread to SMEs. We can also confirm that exclusive banking relationship or repeated banking with private banks can soften credit conditions (loan maturity and covenants). Moreover, we found empirical evidence that banking relationship is important for private banks in terms of SME credit risk evaluation. Finally, as according to our expectation, the results confirm that regardless of prior relationship, private banks are more depended on collateral-based lending to SMEs than government-owned or foreign banks. © Foundation of International Studies, 2017. and CSR, 2017

Logistics management of the rail connections using graph theory: the case of a public transportation company on the example of Koleje Dolnośląskie S.A.

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Comparison of selected methods for performance evaluation of Czech and Slovak commercial banks

The successful development of economy is based on the efficient and stable performance of commercial banks. A broad range of methods is used to evaluate them. Each method has its own specific features and logic, which results in the existence of discrepancies in the results of their evaluation. For this reason, as well as due to the elimination of model risk, numerous methods are recommended in practice to detect multidimensional disproportions in bank performance and to create a comparator base. This led to the realization of the research aimed at assessing the performance of selected Czech and Slovak banks by applying several methods and evaluating the process and outcome differences of these methods. The data were obtained from the non-consolidated financial statements published in the annual reports of the evaluated banks. The analysis showed that all methods have roughly the same results. Almost perfect correlation had been found not only among the methods of multi-criteria evaluation, but also among the other investigators. © 2017 Vilnius Gediminas Technical University (VGTU) Press.VEGA 1/0446/15, VEGA, Vedecká Grantová Agentúra MŠVVaŠ SR a SAVSlovak Scientific Grant Agency within VEGA [1/0446/15

Theoretical Aspects of Brand Building in Seafood Industry

The aim of this paper is to describe theoretical aspects of brand building in seafood industry, because of its perpectives and the lack of brand building practice in this field. According to this, basics elements of brands are described and brand building and tools of brand concept development are analyzed

Earnings management in V4 countries: the evidence of earnings smoothing and inflating

Earnings management is one of the most challenging, debated and controversial topics in finance and financial management. Organisational, legislative, and social norms regarding the ethics of earnings management may vary significantly, with the views of top management and economic environment playing significant roles in shaping the organisational social norm. Thus, the aim of this research is to assess if earnings management is the common practice of enterprises within V4 countries. A novel approach of the selection process to assess the ability of selected earnings management detection models was applied. To highlight discrepancies and similarities among the countries, the non-parametric alternative of analysis of variance was applied. The research confirmed that enterprises do manipulate earnings, typical is upward manipulation. Furthermore, the research unveiled the extent of manipulation with earnings in unique country samples and thus emphasised the importance of both corporate and national ethical principles and managerial decisions, which affect corporate financial reporting quality. However, it is increasingly challenging to identify various aspects and incentives which forced enterprises operating at the global level to smooth and inflate earnings to improve earnings presented in the financial statements and to misinterpret financial results. © 2020 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.Slovak Research and Development AgencySlovak Research and Development Agency [APVV-17-0546

Key determinants of the quality of business environment of SMEs in the Czech Republic

The business environment is determined by various obstacles the business owners have to deal with in the course of their work. This article aims to create a model of the quality of business environment, define the key determinants of this model, and quantify the correlations among the individual determinants in the area of small and medium-sized enterprises (SMEs) in the Czech Republic. Partial results of a survey carried out at the Tomas Bata University in Zlín in 2015 were used for the analysis. On the basis of previous surveys, four determinants were set that influence the quality of business environment (State, Public perception, Financial markets and banks, Business risks). From these four areas, questions were selected and asked to business owners in the Czech Republic in the abovementioned survey. Links were identified among selected questions asked to the owners. These links led to adjusting the business environment to four determinants: State and public perception, Banks and their approach to business, Knowledge of rules and principles, and financial risks and their increase in post-crisis time. Subsequently, correlations were identified among these determinants. It was ascertained that the knowledge of the conditions of the financial system leads to a positive perception of the banks’ approach in terms of external finance. Moreover, a positive influence of the banking sector on how the business owners perceive financial risks was identified. Another important result of the survey is the fact that business owners who have the necessary knowledge of the financial market perceive financial risks as less intense compared to those lacking such knowledge of the financial market

Quantification effectiveness activities traffic company by the rules of data envelopment analysis

Effectiveness quantification of enterprises and identification of causes, eventually of resources of their inefficiency is an important assumption which determines their position in competitive set- ting. There are used lots of different quotient indicators to analyze effectiveness in practice which arise from standard reports of financial statement. Calculation of quotient indicators is simple, however we can locate only a few factors which influence complete „work“ effectiveness of dia- gnosed enterprise. New procedures have recently started to be used for measurements of relative effectiveness of production units. Procedure file of the procedures, methods and algorithms is called in general Data Envelopment Analysis DEA. It is about methods which represent a parti- cular field of application on linear programming. DEA is a method of linear programming which was originally developed for regarding of effectiveness of driving and planning of non - profitable institutions (e.g. schools, hospitals, etc). Afterwards its application spread to some economical fields as well, where there is measured effectiveness of different enterprises or organization units by means of DEA. Presented contribution is dealing with quantification of effectiveness of road transportation companies by means of DEA and monitoring of effectiveness of companies in time by means of Malmqist index. It is divided into 2 sections. In the first section you will find description of basic DEA models and the second is devoted to Malmquist index. Malmquist index is one of the quantitative implements of evaluating the effectiveness, which attempts a model description of influence of technology modifications and their separation from other sources of increasing even- tually decreasing of effectiveness of companies. It enables its separation into two components during evaluation of amendments in time - amendment of relative effectiveness against set of other units (road transportation companies) and amendments of borders of production possibilities evoked by new technologies