Assessing the Existence of Synergistic Effect in the Consolidated Accounting Entities in the Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F18%3APU128037" target="_blank" >RIV/00216305:26510/18:PU128037 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/62156489:43110/18:43915004 RIV/62156489:43310/18:43915004

Výsledek na webu

<a href="https://businessperspectives.org/journals/investment-management-and-financial-innovations/issue-281/assessing-the-existence-of-synergistic-effect-in-the-consolidated-accounting-entities-in-the-czech-republic" target="_blank" >https://businessperspectives.org/journals/investment-management-and-financial-innovations/issue-281/assessing-the-existence-of-synergistic-effect-in-the-consolidated-accounting-entities-in-the-czech-republic</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.21511/imfi.15(2).2018.27" target="_blank" >10.21511/imfi.15(2).2018.27</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Assessing the Existence of Synergistic Effect in the Consolidated Accounting Entities in the Czech Republic

Popis výsledku v původním jazyce

The objective of the research was to identify possible positive synergistic effect of concerns. Because of the advantages of the existence of consolidated financial statements we focused on the Czech consolidated groups. Consolidated financial statements of 719 groups of accounting entities – concerns in the Czech Republic were studied, i.e., the statistical population consisted of 719 reporting units, which can be considered as the total population of all published consolidated financial statements. Following economic indicators were analyzed to discover the existence of positive synergistic effect: cash position ratio, return on equity, return on sales. Based on the research we concluded, that Return on equity revealed dependency between change in the value of the indicator of the parent company and consolidated unit. Values of this indicator are interesting from the investment point of view. They confirm success of capital acquisitions. Cash ratio monitoring revealed an inconsistent environment, unambiguous data correlation between the group data and the individual financial statements of the parent companies. Return on sales indicator showed that consolidated groups had reached higher values of the indicator, i.e., lower total cost ratio than parent companies. Data correlation was found on the low level, i.e., the parent companies did not influence consolidated data. Acquisition companies in the Czech Republic in period 2008-2013 generated positive financial synergy. For financial indicator of return on equity was confirmed dependence between consolidated groups and parent companies. Positive financial synergy was found out for all monitored financial indicators.

Název v anglickém jazyce

Assessing the Existence of Synergistic Effect in the Consolidated Accounting Entities in the Czech Republic

Popis výsledku anglicky

The objective of the research was to identify possible positive synergistic effect of concerns. Because of the advantages of the existence of consolidated financial statements we focused on the Czech consolidated groups. Consolidated financial statements of 719 groups of accounting entities – concerns in the Czech Republic were studied, i.e., the statistical population consisted of 719 reporting units, which can be considered as the total population of all published consolidated financial statements. Following economic indicators were analyzed to discover the existence of positive synergistic effect: cash position ratio, return on equity, return on sales. Based on the research we concluded, that Return on equity revealed dependency between change in the value of the indicator of the parent company and consolidated unit. Values of this indicator are interesting from the investment point of view. They confirm success of capital acquisitions. Cash ratio monitoring revealed an inconsistent environment, unambiguous data correlation between the group data and the individual financial statements of the parent companies. Return on sales indicator showed that consolidated groups had reached higher values of the indicator, i.e., lower total cost ratio than parent companies. Data correlation was found on the low level, i.e., the parent companies did not influence consolidated data. Acquisition companies in the Czech Republic in period 2008-2013 generated positive financial synergy. For financial indicator of return on equity was confirmed dependence between consolidated groups and parent companies. Positive financial synergy was found out for all monitored financial indicators.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

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OECD FORD obor

50205 - Accounting

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Investment Management and Financial Innovations

ISSN

1810-4967

e-ISSN

1812-9358

Svazek periodika

15

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

12

Strana od-do

305-316

Kód UT WoS článku

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EID výsledku v databázi Scopus

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