scholarly journals Company Value, Real Options and Financial Leverage

10.14311/798 ◽  
2006 ◽  
Vol 46 (1) ◽  
Author(s):  
O. Drahovzal
Keyword(s):  
Czech Republic ◽  
Financial Resources ◽  
Debt Ratio ◽  
Financial Leverage ◽  
The Czech Republic ◽  
Company Value ◽  
Total Debt ◽  
Points Of View ◽  
A Company

This paper deals with determining of the value of companies and financial leverage. The author tries to find the optimum debt ratio for selected companies in the Czech Republic. The method of yield option extension is used for evaluating a company. The DCFC method was selected as the yield method, due to its simplicity. The dynamic model used allows us to make changes in the debt ratio with recalculations of all parameters that depend on it. The assessment is made from two points of view: Firstly, the maximum of the total amount of financial resources, and, secondly, the maximum of the inverse sums of the ROE index and the ratio of equity to the value of the company. The values of the total debt ratio and the long-term debt ratio are shown as results. 

scholarly journals Value generators in forestry and logging

2020 ◽  
Vol 73 ◽  
pp. 02003
Author(s):  
Veronika Machová ◽  
Jakub Horák
Keyword(s):  
Value Creation ◽  
Financial Statements ◽  
The Czech Republic ◽  
Company Value ◽  
External Sources ◽  
Key Variables ◽  
The Subject ◽  
A Company ◽  
Value Creation Process

The aim of business is the company value which depends on its ability to generate future profits. It means that all the future decisions must be1 adopted with regard to the influence on the company value. The subject of interest in this paper concerns forestry and logging companies, particularly financial statements of companies that were active on the Czech market in 2016 and thus showed a profit. Aim of this paper is to identify particular value generators of forestry and logging companies in the Czech Republic in 2016. For this reason, the best possible methodology was developed to determine them and the objective was eventually achieved. Using artificial neural networks, a total of 14 indicators, entering a company value creation process most frequently, were identified and measured by the EVA equity indicator. The following key variables were identified as company value generators: external sources, long-term liabilities, material and energy consumption, other operating expenses and sales of goods.

Pengaruh Financial Leverage terhadap Financial Performance pada Sektor Industri Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2015

2018 ◽  
Vol 9 (2) ◽  
pp. 33-48
Author(s):  
Rivaldy Februansyah ◽  
Ika Yanuarti
Keyword(s):  
Financial Performance ◽  
Manufacturing Sector ◽  
Linear Regression Analysis ◽  
The Other ◽  
Debt Ratio ◽  
Financial Leverage ◽  
Coverage Ratio ◽  
Equity Ratio ◽  
Internal Fund

The manufacturing sector is one of the most dominant economic sectors in in achieving growth and development in Indonesia. It needs adequate fund to develop its business. The sources of fund are from internal and external. The firm usually optimized the usage of internal fund prior to external fund. The internal fund comes from equity while the external funds are from debt and stock. Debt is also known as financial leverage. There is a phenomenon that the usage of debt increased the firm’s financial performance, since interest on debt could lower the payment of tax (tax shield). On the other side, the higher the financial leverage the higher the risk of bankruptcy. This research aims to analyze whether financial leverage has an influence on financial performance in the manufacturing sector listed on the Indonesia Stock Exchange (IDX) period 2015. The method of analysis used in this research is multiple linear regression analysis. This research uses quantitative approach with a sample of 140 listed companies in the manufacturing industry. The firm’s financial performance could be measured by the financial ratios. Financial Leverage ratios are ratios that measure the ability of firm’s to meet its financial obligation and the level of usage debt as compared to equity. There are several financial leverage ratios that used in this research, such as Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), and Long Term Debt Ratio (LTDR). Financial performance indicates the ability of firm to generate profit and measured by Profitability Ratio. Return on Asset (ROA) is one of the Profitability Ratio. The statistical result shows that Debt Ratio (DR) negatively affect Return on Asset (ROA) and Interest Coverage Ratio (ICR) positively affect Return on Asset (ROA). Meanwhile, Debt to Equity Ratio (DER) and Long Term Debt Ratio (LTDR) did not affect Return on Asset (ROA). On the other hand, result shows that Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), and Long Term Debt Ratio (LTDR) affect Return on Asset (ROA) simultaneously. Keywords: Financial Leverage, Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), Long Term Debt Ratio (LTDR), Financial Performance, Return on Assets (ROA)

Partner Selection Across the Life-Course: Age Variation in Partner Preferences in the Czech Republic

2021 ◽  
pp. 136078042199237
Author(s):  
Jana Klímová Chaloupková ◽  
Renáta Topinková ◽  
Markéta Šetinová
Keyword(s):  
Czech Republic ◽  
Older Women ◽  
Age Groups ◽  
Financial Resources ◽  
Younger Adults ◽  
The Czech Republic ◽  
Men And Women ◽  
Partner Preferences ◽  
Age Variation ◽  
The Life Course

The proportion of people seeking a partner later in life has increased in recent decades. However, studies exploring age variation in partner preferences are quite rare. We aim to fill this gap by examining the partner preferences for household care skills, financial resources, and education of unpartnered individuals aged 19–65 years ( n = 1145) who participated in speed-dating events in the Czech Republic. We hypothesized that the importance of these characteristics varies with age, and that this variance may differ for men and women. The results show that gender differences concerning these characteristics are mostly stable across age groups. The exception is the importance of household care skills, which increases for older men and decreases for older women. We found that older adults value financial resources more than younger adults, and that this increase is true for women and men. Finally, we did not find evidence that the importance of education differs with age.

Long-term changes in body weight, BMI, and adiposity rebound among children and adolescents in the Czech republic

2007 ◽  
Vol 5 (3) ◽  
pp. 409-425 ◽  
Author(s):  
J. Vignerová ◽  
L. Humeníkova ◽  
M. Brabec ◽  
J. Riedlová ◽  
P. Bláha
Keyword(s):  
Body Weight ◽  
Czech Republic ◽  
Children And Adolescents ◽  
The Czech Republic ◽  
Adiposity Rebound ◽  
Long Term Changes

scholarly journals Loose Monetary Policy and Corporate Investment of Manufacturing Firms in the Czech Republic

2018 ◽  
Vol 18 (4) ◽  
pp. 371-385
Author(s):  
Veronika Kajurová ◽  
Dagmar Linnertová
Keyword(s):  
Monetary Policy ◽  
Czech Republic ◽  
Interest Rates ◽  
Corporate Investment ◽  
Manufacturing Firms ◽  
Investment Activity ◽  
The Czech Republic ◽  
Low Interest Rates ◽  
Negative Effect

Abstract The aim of the paper is to evaluate the effects of loose monetary policy on corporate investment of manufacturing firms in the Czech Republic during the period between 2006 and 2015. The main focus of the paper is on the effect of low interest rates on investment activity of Czech firms; additionally, the effects of interactions between interest rate and other firm-specific variables are investigated. The results indicate that corporate investment is positively associated with firm size, investment opportunities, and long term debt. Also, a negative effect of the cash position is found. Further, the findings show that monetary policy is a significant determinant of firm investment activity: when the monetary policy is loose, investment is positively affected. Furthermore, differences in the determinants of investment between highly and low leveraged firms were revealed.

scholarly journals Values of rainfall erosivity factor for the Czech Republic

2013 ◽  
Vol 61 (2) ◽  
pp. 97-102 ◽  
Author(s):  
Miloslav Janeček ◽  
Vít Květoň ◽  
Eliška Kubátová ◽  
Dominika Kobzová ◽  
Michaela Vošmerová ◽  
...  
Keyword(s):  
Czech Republic ◽  
Water Erosion ◽  
Rainfall Erosivity ◽  
The Czech Republic ◽  
Average Value ◽  
R Factor ◽  
The Usa ◽  
Time Division ◽  
R Factors

Abstract The processing of ombrographic data from 29 meteorological stations of the Czech Hydrometeorological Institute (CHMI), according to the terms of the Universal Soil Loss Equation for calculating long term loss of soil through water erosion, erosion hazard rains and their occurrence have been selected, with their relative amount and erosiveness - R-Factors determined for each month and years. By comparing the value of the time division of the R-Factor in the area of the Czech Republic and in selected areas of the USA it has been demonstrated that this division may be applied in the conditions of the Czech Republic. For the Czech Republic it is recommended to use the average value R = 40 based on the original evaluation.

scholarly journals Consequences of the Public Contract Law for Purchase of Scientific Appliances in the Czech Republic

2015 ◽  
Vol 63 (2) ◽  
pp. 675-681
Author(s):  
Martin Vyklický
Keyword(s):  
Czech Republic ◽  
Contract Law ◽  
Public Funds ◽  
The Czech Republic ◽  
The Public ◽  
Flow Of Funds ◽  
Science And Research ◽  
Research Equipment ◽  
Public Contract

This article essentially covers in more detail the consequences of the present wording of the Public Contract Law for purchase of scientific appliances in the Czech Republic. The beginning of the article deals with increasing public expenses in research; then, the problem is defined concerning unsuitable wording of certain provisions of the Public Contract Law; while subsequently, the solution for the problem is searched together with the final comments. Investing of public funds into science and research is probably the most efficient in a long-term horizon. However, the flow of funds for acquisition of scientific and research equipment should be supported by appropriate legislation with such wording and form not to prevent purchases of that equipment. Availability of public funds for something which in fact cannot be, due to wrongly set legislation, acquired by a contracting authority is the problem which must be eliminated through timely implementation of the above proposed changes in the Public Contract Law.

scholarly journals Comparison of hospitalized and ambulatory patients with heart failure in the Czech Republic and Europe. Data from the ESC Heart Failure Long-Term Registry

Cor et Vasa ◽  
2015 ◽  
Vol 57 (1) ◽  
pp. e6-e11 ◽  
Author(s):  
Jan Krupička ◽  
Anna Andrusková ◽  
Markéta Hegarová ◽  
Marie Lazarová ◽  
Filip Málek ◽  
...  
Keyword(s):  
Heart Failure ◽  
Czech Republic ◽  
The Czech Republic ◽  
Patients With Heart Failure ◽  
Ambulatory Patients
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