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The Impact of Financial Management of Fixed Assets on the Economy of Construction Companies
Kusák, Jiří ; Cupal, Martin (referee) ; Chovancová, Jitka (referee) ; Vítková, Eva (advisor)
This doctoral thesis focuses on the impact of financial management of fixed assets on the economy of construction companies. The goal of financial management is to generate profit and provide financial stability. Financial stability is provided by managing the amount of fixed and current assets, the amount of equity and external capital. Therefore, in order to reach the objective of financial management, it is necessary to comply with the basic financial rules. Within the nationwide analyses of economic indicators for different industries, there are data published on the website of the Ministry of Industry and Trade, which relate in general to construction companies in the Czech Republic. For this reason, thesis is focused on given categories of construction companies (small, medium, large), which are defined by turnover, assets and number of employees, with largely focusing on Brno region. The thesis first established the research question incl. main goals, then research was conducted in the field of financial management of fixed assets and the subsequent setting of the research methodology based on the conducted research. The next step was to set up a methodical procedure for determining the impact of financial management of fixed assets on the economic result. The research studied whether categories fulfil all or part of the basic golden financial rules, such as the rule of risk equalization, the balance rule and the pari rule. The research also monitored the structure of assets (the ratio between fixed and current assets, etc. based on elementary methods of financial analysis). Next, the research focused on whether the impact of the financial management of fixed assets on the economic result is the same or different for given categories and established the best method of financing. In the conclusion, the benefit to the science and practice is commented on, a possible continuation of the research is listed here and the methodological procedure is commented here.
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