COMPANY INVESTMENTS IN THE CONTEXT OF FINANCIAL STRATEGIES

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F22%3A43905599" target="_blank" >RIV/60076658:12510/22:43905599 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.dbc.wroc.pl/dlibra/publication/154800/edition/115011/content" target="_blank" >https://www.dbc.wroc.pl/dlibra/publication/154800/edition/115011/content</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.15611/aoe.2022.1.07" target="_blank" >10.15611/aoe.2022.1.07</a>

Jazyk výsledku

angličtina

Název v původním jazyce

COMPANY INVESTMENTS IN THE CONTEXT OF FINANCIAL STRATEGIES

Popis výsledku v původním jazyce

This paper is focused on the determination of type of financial strategy to company investment. The analysis traces which financial strategies are preferred by companies from industries classified according to technological intensiveness. The study used data from 7,095 Czech enterprises during the 2014-2018 period. The typology of strategies was based on dynamic criteria created by combining indices of financial ratios. This study confirmed that management do not strictly prefer a conservative or aggressive investment strategy. A quarter of investment companies are rather inclined towards a strategy with conservative elements regarding the area of financing and aggressive elements regarding the golden rule of investing (Strategy B). One-third of the companies practise risky investment (long-term assets grow faster than sales). The contribution of this paper is an extension of investment theory by the typology of financial strategies of investing companies, which can be useful in making future investor decisions, for creators of subsidy policies and financial institutions providing financing for company investments.

Název v anglickém jazyce

COMPANY INVESTMENTS IN THE CONTEXT OF FINANCIAL STRATEGIES

Popis výsledku anglicky

This paper is focused on the determination of type of financial strategy to company investment. The analysis traces which financial strategies are preferred by companies from industries classified according to technological intensiveness. The study used data from 7,095 Czech enterprises during the 2014-2018 period. The typology of strategies was based on dynamic criteria created by combining indices of financial ratios. This study confirmed that management do not strictly prefer a conservative or aggressive investment strategy. A quarter of investment companies are rather inclined towards a strategy with conservative elements regarding the area of financing and aggressive elements regarding the golden rule of investing (Strategy B). One-third of the companies practise risky investment (long-term assets grow faster than sales). The contribution of this paper is an extension of investment theory by the typology of financial strategies of investing companies, which can be useful in making future investor decisions, for creators of subsidy policies and financial institutions providing financing for company investments.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2022

Kód důvěrnosti údajů

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

Název periodika

Argumenta Oeconomica

ISSN

1233-5835

e-ISSN

2720-5088

Svazek periodika

48

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

PL - Polská republika

Počet stran výsledku

22

Strana od-do

163-185

Kód UT WoS článku

000803080900007

EID výsledku v databázi Scopus

2-s2.0-85133868799