Profitability and Working Capital Management of Czech SMES: Empirical Evidence in the Period of Financial Crisis

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Profitability and Working Capital Management of Czech SMES: Empirical Evidence in the Period of Financial Crisis

Popis výsledku v původním jazyce

In this study, we attempt to measure the link between working capital management and profitability on a sample of Czech SMEs during the time of financial crisis. As the period of our measurement coincides with the worst financial crisis that affected developed economies at the beginning of the 21 century, we expect the profitability of Czech firms and corresponding variables of working capital management to be also affected. In this conjuncture, we want to discover the role working capital management on microeconomic in-company level. Some negative relations and increased volatility of results can be expected during the crisis years, even when Czech companies were found to be profitable in general. The results of our analysis show that the working capital management performs in the same manner as in "normal times", which can be interpreted is a sign of long term stability of Czech economic environment. Nevertheless, our results need to be verified and contrasted with subsequent (non-crisis) periods of data, which could be a topic for future research.

Název v anglickém jazyce

Profitability and Working Capital Management of Czech SMES: Empirical Evidence in the Period of Financial Crisis

Popis výsledku anglicky

In this study, we attempt to measure the link between working capital management and profitability on a sample of Czech SMEs during the time of financial crisis. As the period of our measurement coincides with the worst financial crisis that affected developed economies at the beginning of the 21 century, we expect the profitability of Czech firms and corresponding variables of working capital management to be also affected. In this conjuncture, we want to discover the role working capital management on microeconomic in-company level. Some negative relations and increased volatility of results can be expected during the crisis years, even when Czech companies were found to be profitable in general. The results of our analysis show that the working capital management performs in the same manner as in "normal times", which can be interpreted is a sign of long term stability of Czech economic environment. Nevertheless, our results need to be verified and contrasted with subsequent (non-crisis) periods of data, which could be a topic for future research.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2017

Kód důvěrnosti údajů

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

Název statě ve sborníku

IFRS: Global Rules and Local Use: Proceedings of the 5th International Scientific Conference

ISBN

978-80-906585-4-7

ISSN

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e-ISSN

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Počet stran výsledku

11

Strana od-do

61-71

Název nakladatele

Anglo-americká vysoká škola, z.ú.

Místo vydání

Praha

Místo konání akce

Praha

Datum konání akce

20. 10. 2017

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000431393100004