Sectoral and Firm-Level Determinants of Profitability: A Multilevel Approach
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43310%2F18%3A43914767" target="_blank" >RIV/62156489:43310/18:43914767 - isvavai.cz</a>
Nalezeny alternativní kódy
RIV/61384399:31130/18:00053205
Výsledek na webu
<a href="https://doi.org/10.2478/ijek-2018-0012" target="_blank" >https://doi.org/10.2478/ijek-2018-0012</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.2478/IJEK-2018-0012" target="_blank" >10.2478/IJEK-2018-0012</a>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Sectoral and Firm-Level Determinants of Profitability: A Multilevel Approach
Popis výsledku v původním jazyce
The paper aimed to contribute to the literature on the determinants of firm profitability, from the perspective of the Czech economy. We followed a multilevel/hierarchical approach towards the analysis of the sectoral and firm-level determinants of the profitability of companies operating in the Czech food processing industry during years 2005 - 2012 (622 Firms in 10 Sectors). We assessed an impact of industry (i.e. market concentration, sector growth rate and growth rate of imports) and firm-level characteristics (i.e. market share, firm age, firm size, number of employees, debt/equity ratio and short-term risk) on the return on assets (ROA). Surprisingly, there were no substantial differences between the separate models for industry and firm-level determinants and a combined one. We found a positive impact of market concentration and market share and a negative effect of age and risk-taking behaviour on a firm profitability. Based on these findings, managers in the Czech food and drink industry should pay more attention to the debt policy.
Název v anglickém jazyce
Sectoral and Firm-Level Determinants of Profitability: A Multilevel Approach
Popis výsledku anglicky
The paper aimed to contribute to the literature on the determinants of firm profitability, from the perspective of the Czech economy. We followed a multilevel/hierarchical approach towards the analysis of the sectoral and firm-level determinants of the profitability of companies operating in the Czech food processing industry during years 2005 - 2012 (622 Firms in 10 Sectors). We assessed an impact of industry (i.e. market concentration, sector growth rate and growth rate of imports) and firm-level characteristics (i.e. market share, firm age, firm size, number of employees, debt/equity ratio and short-term risk) on the return on assets (ROA). Surprisingly, there were no substantial differences between the separate models for industry and firm-level determinants and a combined one. We found a positive impact of market concentration and market share and a negative effect of age and risk-taking behaviour on a firm profitability. Based on these findings, managers in the Czech food and drink industry should pay more attention to the debt policy.
Klasifikace
Druh
J<sub>ost</sub> - Ostatní články v recenzovaných periodicích
CEP obor
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OECD FORD obor
50204 - Business and management
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2018
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
International Journal of Entrepreneurial Knowledge
ISSN
2336-2952
e-ISSN
—
Svazek periodika
6
Číslo periodika v rámci svazku
2
Stát vydavatele periodika
CZ - Česká republika
Počet stran výsledku
13
Strana od-do
32-44
Kód UT WoS článku
—
EID výsledku v databázi Scopus
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