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The Impact of the Debt Burden on the Prosperity of an Enterprise
VEJSADOVÁ DRYJOVÁ, Marie
The dissertation thesis analyzes the debt burden on the prosperity of enterprise that operate in the territory of the Czech Republic, where the prosperity of the companies is expressed in equity capital profitability. The main aim is the empirical validation of the conclusions of financial leverage applied to the specific economic conditions of enterprises in the Czech Republic. The dissertation thesis is focused on the issue of the financial leverage on enterprises. First, the relation of return on equity and debt was evaluated Followed by an analysis of the relation of the debt ratio and a dynamic degree of financial leverage. Also a static degree of financial leverage with increasing debt was quantified. The operational objective was to assess a methodological diversity of quantification of static and dynamic model degrees of financial leverages. The validity of conclusions on the degree of financial leverage was assessed on the basic of the model simulating the impact of debt financing on earnings per share while changing the output (i.e., earnings before interest and taxes). The variance analysis of the return on equity indicator was performed using functional methods. The result was to quantify the effects of partial analytical indicators to the return on equity, the top-level indicator analyzed, mostly the influence of the dynamic degree of financial leverage indicators as a casual factor.
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Objectives of a company in individual periods of its existencional cycle
MALACHOVÁ, Petra
The thesis consists of two parts {--} the theoretical and the practical one. First of all, the theoretical part explicates the terms of `enterprise{\crq} and `business activity{\crq} according to various authors and definitions. Then the phases of an enterprise life cycle are analysed. Then, the enterprise goals - the primary goal and other goals - are described. The next chapter deals with the possibilities of monitoring the goals {--} a pyramid system of factors is analysed here. The practical part contains calculations, tables, graphs and relevant comments on the received values. In the conclusion, the current situation of the enterprise is assessed, and partial goals are proposed.
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Analysis of financial results of Czech companies and their relation to the macroeconomic development
Kuna, Petr ; Marek, Petr (advisor) ; Dufková, Eva (referee)
The foundation stone of this thesis is to perform a financial analysis of Czech non-financial companies for the years from 2007 to 2009 in order to evaluate development of the basic groups of financial analysis ratios before and after the outbreak of the financial crisis. Based on this analysis, I analyze the changes of the selected ratios in relation with the macroeconomic development. This is carried out by means of the description in words and for some significant changes using correlation analysis with GDP. The analysis results in the findings that the changes of ratios of return on assets and return on equity were negative in the analyzed period and for each year the factors of these changes are tracked using the pyramidal decomposition. In the statistical part of my thesis I partially succeeded in proving linear correlation between return on assets and GDP and a lower confidence level linear correlation between personnel cost to revenues ratio and GDP. Also, there were some correlations between individual ratios found to be significant.
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Analysis of the entry of the foreign company by the direct investment in the region
JÍLEK, Jan
This thesis aims to analyse the impacts of the entry of the direct foreign investment of Futaba Czech s. r. o. on Havlíčkův Brod region. The introductory part contains a list of the sources reporting on the company{\crq}s investment decisions. Various aspects concerning the localization factors are included as well. Next part focuses on examining Futaba Czech s. r. o. in particular but also partly on Sklo Bohemi, a. s. and Pleas, a. s. They represent the three largest companies in Havlíčkův Brod region. The main aim of the author of the work was to find out how these three companies influence each other, even though each of them is interested in a different branch of industry. The following hypotheses are examined in the thesis: 1) Funding of FCZ by short-term credits indicates an existence of the significant insecurity, which can cause some doubts about company{\crq}s ability to continue to work according to principle based on continuation unlimited by time. 2) Benefit of the direct foreign investment of Futaba for the region is substantial at the present time and the impacts on the social environment are considerable as well. 3) Termination of operations of the company Sklo Bohemia, a. s. has influenced the social conditions of Havlíčkův Brod region significantly and it has had an influence on the operation of the companies Futaba Czech s. r. o. and Pleas, a. s. All three hypotheses have been verified in the thesis. The last part of the work gives the report of the evaluation of the hypotheses in question and a supposition, that the examined company might leave Czech market, because the results of its management are getting worse, is expressed.
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Setting costs for capital and their usage for calculation of economic value added.
BEČVÁŘOVÁ, Nikoleta
This thesis deals with company capital structure, that is characterized according to methods of horizontal and vertical analysis. Then it deals with prices of particular capital items, costs for capital and influeces on business performance, it means with the calculation of economic value added. Theoretical part describes capital structure items in general, prices of particular items of capital, costs for capital and particular methods for EVA calculation, it means both EVA entity and EVA equity. Practical part characterizes individual items of capital structure and application of chosen model, that is the second model for EVA calculation {--} EVA equity {--} on a concrete company. This calculation was processed through benchmarking on websides of Departement of industry and Trade. The model was applicated on a company, that deals with production of motor and joining vehicles, machines production, machineries production and means of transport repairs {--} ČZ, a.s.
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Financial analysis
Špániková, Jana ; Luzanová, Marianna (advisor) ; Boukal, Petr (referee)
The subject of the bachelor thesis is financial analysis of company Zoeller system s.r.o.. The thesis has two parts, methodological and practical. Methodological part describes individual methods of financial analysis, which are used in practical part of thesis. The thesis contains analysis of company by absolute and ratio indicators, DuPont analysis, analysis of net working capital, calculation of economic value added and prediction of financial distress. The practical part also includes the presentation of company. In thesis were studied financial statements from year 2006 to 2009.
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Financial analysis of enterprise H-PRO
Škubalová, Michaela ; Boukal, Petr (advisor) ; Eysseltová, Sylvie (referee)
Financial analysis is focused on the management of the enterprise during period 2003 - 2009. Main goal of this analysis is concentrated on appreciation of the chief executive officer's deposits and these indicators are used: ROE, ROA, ROS, ROCE, EVA. Fractional goals fill up these indices: liquidity ratios, activity ratios, financial leverage ratios and net working capital. The impact of financial crisis (2009) is also described in this analysis.
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Spatial survey of profitability of european companies in 2006
Brabcová, Hana ; Marek, Petr (advisor) ; Brabenec, Tomáš (referee)
The content of this thesis is the implementation of survey of reached values of return on assets, return on equity and margin of profit in concrete economic branches and particular countries of the European Union, with emphasis on position of the Czech Republic. The conclusion is determination that the most profitable countries are Finland and Estonia and the least profitable states are Italy, Portugal and Cyprus. In regard to the particular branches, the most profitable is "Mining and quarrying of energy producing materials", the opposite is "Fishing". The Czech Republic is always situated around the average of the European Union, whereas its best branch is "Mining and quarrying, except of energy producing materials" and the least successful segment is "Manufacture of coke, refined petroleum products and nuclear fuel".
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