The Relevance of Sectoral Clustering in Corporate Debt Policy: The Case Study of Slovak Enterprises

Administrative Sciences, Год журнала: 2024, Номер 14(2), С. 26 - 26

Опубликована: Янв. 30, 2024

The processing and transformation of natural resources into completed semi-finished products is the primary function industry in each nation’s economy. There no denying significance sectoral classification economy, but slow development extension one could have resulted advancement other sectors that are now a part contemporary communities. Since there statistically significant differences between various industries, numerous authors currently investigating impact on financial structure firms, revealing as crucial determinant corporate indebtedness. Thus, main aim this study to determine debt level sample 4237 enterprises operating market period 2018–2021 from using eight indicators, well identify relationships them, which may help reveal with homogeneous patterns indebtedness (using cluster analysis) thus understand most stable independent. Kruskal–Wallis test then used if calculated ratios related economic sector. Based results, it can be concluded choice significantly influenced by industry. Financial performance indicators quantitative statistics assess, monitor, forecast company or health. They act instruments for business insiders outsiders assess company’s performance, particularly comparison competitors, pinpoint its strengths weaknesses, making outputs important all types stakeholders.

Язык: Английский

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Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry

Risks, Год журнала: 2022, Номер 10(12), С. 236 - 236

Опубликована: Дек. 12, 2022

Efficient management of working capital is essential for firms to avoid overinvesting in short-term assets maximum profitability while guaranteeing much-needed liquidity run their operations. This study examines the impact on firms’ automotive industry Europe before and during COVID-19 pandemic period. The vital European economy, being a major component total industrial value added GDP continent. Existing research this topic inconclusive, there gap literature exploring effect firm performance periods crisis. Unlike most research, focuses single better capture profitability. It also adds dimension stress importance proper management, especially economic distress. results show that receivables collection period, inventory conversion accounts payable cash cycle have significant negative ROA both pre-pandemic suggesting managers must be prudent regarding firm’s credit policy by not overly generous with terms making every effort promptly collect receivables. Moreover, excessive levels impair locking up valuable reserves, which are vital, Though seemingly counterintuitive, profitable means postponing payables settlement unnecessarily.

Язык: Английский

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Earnings Management and Corporate Performance in the Scope of Firm-Specific Features

Journal of risk and financial management, Год журнала: 2022, Номер 15(10), С. 426 - 426

Опубликована: Сен. 23, 2022

Various models have been created all around the world to identify enterprises that manipulate their earnings. These earnings management techniques aid businesses in enhancing financial performance or gaining some competitive advantages. The primary goal of this article was firm-specific characteristics affect how manage using a sample 15,716 from various economic sectors Slovak environment during 3 year period. level measured by discretionary accruals Kasznik model. In paper, correspondence analysis chi-square distance measure applied find dependence between practices and features (firm size, legal form, sectoral classification). results study indicate aggressive (income-increasing) are typical small with public limited ownership structure, mostly R M (using NACE Conservative (income decreasing) can be observed J F, they also used medium-sized those private structure. revealed large do not tend earnings, as well operating sector K. insights may provide important useful information for shareholders regulators evaluating determinants effective mitigating practices. Authorities, regulators, analysts, auditors importance discovered variances helpful identifying strategies manipulation differ among industries according characteristics.

Язык: Английский

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Renaissance of Creative Accounting Due to the Pandemic: New Patterns Explored by Correspondence Analysis

Stats, Год журнала: 2023, Номер 6(1), С. 411 - 430

Опубликована: Март 3, 2023

The COVID-19 outbreak has rapidly affected global economies and the parties involved. There was a need to ensure sustainability of corporate finance avoid bankruptcy. reactions individuals were not routine, but covered wide range approaches surviving crisis. A creative way accounting also adopted. This study is primarily concerned with behavior businesses in Visegrad Four countries between 2019 2021. pandemic era driving force behind renaissance manipulation. Thus, purpose article explore how enterprises changed during ongoing pandemic. Beneish model applied reveal manipulation analyzed samples. Its M-score calculated for 6113 Slovak, 153 Czech, 585 Polish, 155 Hungarian enterprises. Increasing numbers handling confirmed V4 region. dependency size enterprise occurrence proven. However, structure manipulators been changing. Correspondence analysis specifically showed behavioral changes over time. maps demonstrate which already used before 2019. Then, it noted that influenced modify their patterns 2020 coronavirus had significant potency on use accounting, only individual units, all sizes. In addition, methodology may be investigation sectors post-COVID.

Язык: Английский

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Industry 4.0: Marvels in Profitability in the Transport Sector

Mathematics, Год журнала: 2023, Номер 11(17), С. 3647 - 3647

Опубликована: Авг. 23, 2023

Despite the COVID-19 pandemic, current era offers ultimate possibility for prosperous corporate life, especially in transport sector. Industry 4.0 covers artificial intelligence, big data, or industrial IoT, and thus spatial cognition algorithms, traffic flow prediction, autonomous vehicles, smart sustainable mobility are not far away. The mentioned tools have already been implemented by enterprises emerging countries. This exploration focused on transportation within V4 region from 2016–2021. article aims to confirm positive sequel of applying chosen indicators profitability. positive, negative, no shift development 534 businesses was based Pettitt’s test. Pearson chi-square test disclosed significant dependency between shifts profitability ratios. Then, more than 25% involved had ROA, ROC, ROS, ROR. research proved only its balanced effect but also augmented force through z-test proportion. investigation may provide multiple proofs connected sectors with adapt deliver call governments make this tool achievable.

Язык: Английский

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The Effect of CSR Policy on Earnings Management Behavior: Evidence from Visegrad Publicly Listed Enterprises

Risks, Год журнала: 2022, Номер 10(11), С. 203 - 203

Опубликована: Окт. 25, 2022

A corporate socially responsible-focused approach adds value to a firm in the form of financial benefits addition improving its image. To meet demands various stakeholders, including consumers, employees, and shareholders, produce high-quality reporting, some managers participate CSR initiatives. The investigation relationship between social responsibility earnings management publicly listed Visegrad companies is main aim paper. purpose identify correlation concept (measured by ESG score) behavior determined discretionary accrual levels (using modified Jones model). ascertain association earnings/discretionary or describe major changes development these variables, several statistical techniques were applied (correlation analysis, one-way ANOVA, ANOVA with repeated measures). As this pioneering study environment (analyzing 35 enterprises reporting score), research findings may have significant policy implications for decision-makers, regulators, auditors, investors their efforts restrict enhance quality reporting.

Язык: Английский

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Research on Corporate Indebtedness Determinants: A Case Study of Visegrad Group Countries

Mathematics, Год журнала: 2023, Номер 11(2), С. 299 - 299

Опубликована: Янв. 6, 2023

Debt financing is arguably the most important source of external for enterprises and has become popular in recent years. Corporate debt related to monitoring corporate indebtedness, which a necessary part evaluating overall financial performance an enterprise will occur if does not have enough equity. However, rising indebtedness can be difficult situation form default inability meet their emerging liabilities. The main aim this paper perform analysis operating Visegrad Group countries subsequently examine whether firm size legal statistically significant impact on selected indicators. Firstly, it was using 10 ratios. Subsequently, nonparametric Kruskal–Wallis test used more detailed focused examining differences individual ratios based form. Bonferroni corrections were applied detect where stochastic dominance occurred. results reveal countries, confirming calculated Recognizing several determinants critical because these firm-specific features may interpreted as proxies probability or volatility assets, simplify decision-making processes creditors stakeholders.

Язык: Английский

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Does the Size of the Business Still Matter, or Is Profitability under New Management, by Order of the COVID-19?

Journal of risk and financial management, Год журнала: 2023, Номер 16(4), С. 219 - 219

Опубликована: Март 31, 2023

Businesses should come up with a strategy, plans, and goals so that their total assets can make profit during the transformation process. Utilizing various features of property generate this income. This comparison provides evidence profitability. During global economic downturn, number businesses encountered issues caused payment situations profitability to deteriorate. The goal article is ascertain whether particular indicators also revealed pandemic-related crisis, particularly in Visegrad Group countries. analysis was conducted based on categories business size. Specifically, 8671 enterprises were analyzed. evaluation there significant change negative direction, positive or no change. It possible clear diagram companies took part study figure out median values order compare results chosen indicators. Correspondence conclusions could be more accurate. According findings study, ROA, ROE, ROS did not significantly across enterprise size years preceding, during, after pandemic. Since government regulations V4 countries had impact these businesses, most obvious case small within indicator. added value derived from its selected largest group Central European nations relevance.

Язык: Английский

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How Much Progress Have We Made towards Decarbonization? Policy Implications Based on the Demand for Electric Cars in Poland

Energies, Год журнала: 2024, Номер 17(16), С. 4138 - 4138

Опубликована: Авг. 20, 2024

The growing demand for personal mobility is leading to an increase in vehicle use, which turn contributing higher carbon emissions. It widely acknowledged that emission-free electric vehicles (EVs) will play a pivotal role the decarbonization process, particularly of transport systems. objective this paper was present trends Poland, together with identification market shocks and assessment programs supporting electromobility. number imported domestically purchased new used (BEV) registrations analyzed using TRAMO-SEATS ARIMA-X-12 seasonal adjustment methods. rise sales Poland driven by government’s electromobility support alterations tax legislation, no discernible impact. increased significantly, exhibiting upward trajectory. However, growth constrained inadequate charging stations, are primarily powered electricity derived from coal. Consequently, while development evident, process remains challenge.

Язык: Английский

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The Nexus between Smart Sensors and the Bankruptcy Protection of SMEs

Sensors, Год журнала: 2022, Номер 22(22), С. 8671 - 8671

Опубликована: Ноя. 10, 2022

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

Язык: Английский

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