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Identification of Value Determinants of the Mechanical Engineering Enterprises in the Czech Republic
Strnadová, Michala ; Hrvolová, Božena (referee) ; Koráb, Vojtěch (referee) ; Živělová, Iva (referee) ; Režňáková, Mária (advisor)
This doctoral thesis is focused on value based management. The basic principle of value based management states that the main object in an organization is value enhancement. Within an organization the concept of value based management connects activities and people participating in business processes to maintain that the resources the owners put into the business are evaluated. The essential task of value based management is to find and identify factors which contribute increasing performance and creating the value of a company, known as value drivers. The purpose of this thesis is to identify the factors which by significant amount affect the value of the mechanical engineering enterprises in the Czech Republic. In the first part of the thesis an analysis of current academic knowledge in area of value drivers is made. The base of the analysis is created by foreign resources because there is only limited amount of information in domestic literature. Besides the determination of value approach and its benefits attention is mainly paid to organizing results from value generators area. Findings of secondary resources analysis are used for own research problem. The second part of the thesis includes determination of the main objects and the research problem as well as formulation of the research questions and tested hypotheses. The third part is focused on describing methods which were used in the thesis. In the thesis was applied logical (induction – deduction, analysis – synthesis, generalization – concretaization) and empirical methods (comparsion method, quantitative research methods). Primary data was collected by using a questionnaire. Obtained data was analyzed using logarithmic decomposition of the return on equity, Boosted Trees and descriptive statistics (for example measures of location, measures of variability) and more statistical methods for analysis of statistical hypothesis (Kolmogorov-Smirnov test, Lilliefors test for normality, F-test, Student’s t-test, Chi-squared test, Fisher’s exact test, Spearman’s rank correlation coefficient). In the fourth part of the thesis the branch of manufacturing industry is characterized and the identification of performance factors is accomplished applying logarithmic decomposition of the return on equity. The other subjects of research were companies in a branch called “Manufacturing of machines and devices”. The fifth part of the thesis includes summary of findings of the prime research and its discussion. Primary data was obtained by a questionnaire survey and completed with accounting information of respondents. The findings of the research show that main determinants affecting the value of engineering companies in the Czech Republic are return on assets, profit margin, consumption, sales profitability, personnel costs and value added. The qualitative value drivers are good reputation, human resources (employees) and its characteristics, business and flexibility, performance and productivity, assets, competency responsible staff, attentiveness to requirement of customers, innovation and quality.
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Identification of Value Determinants of the Mechanical Engineering Enterprises in the Czech Republic
Strnadová, Michala ; Hrvolová, Božena (referee) ; Koráb, Vojtěch (referee) ; Živělová, Iva (referee) ; Režňáková, Mária (advisor)
This doctoral thesis is focused on value based management. The basic principle of value based management states that the main object in an organization is value enhancement. Within an organization the concept of value based management connects activities and people participating in business processes to maintain that the resources the owners put into the business are evaluated. The essential task of value based management is to find and identify factors which contribute increasing performance and creating the value of a company, known as value drivers. The purpose of this thesis is to identify the factors which by significant amount affect the value of the mechanical engineering enterprises in the Czech Republic. In the first part of the thesis an analysis of current academic knowledge in area of value drivers is made. The base of the analysis is created by foreign resources because there is only limited amount of information in domestic literature. Besides the determination of value approach and its benefits attention is mainly paid to organizing results from value generators area. Findings of secondary resources analysis are used for own research problem. The second part of the thesis includes determination of the main objects and the research problem as well as formulation of the research questions and tested hypotheses. The third part is focused on describing methods which were used in the thesis. In the thesis was applied logical (induction – deduction, analysis – synthesis, generalization – concretaization) and empirical methods (comparsion method, quantitative research methods). Primary data was collected by using a questionnaire. Obtained data was analyzed using logarithmic decomposition of the return on equity, Boosted Trees and descriptive statistics (for example measures of location, measures of variability) and more statistical methods for analysis of statistical hypothesis (Kolmogorov-Smirnov test, Lilliefors test for normality, F-test, Student’s t-test, Chi-squared test, Fisher’s exact test, Spearman’s rank correlation coefficient). In the fourth part of the thesis the branch of manufacturing industry is characterized and the identification of performance factors is accomplished applying logarithmic decomposition of the return on equity. The other subjects of research were companies in a branch called “Manufacturing of machines and devices”. The fifth part of the thesis includes summary of findings of the prime research and its discussion. Primary data was obtained by a questionnaire survey and completed with accounting information of respondents. The findings of the research show that main determinants affecting the value of engineering companies in the Czech Republic are return on assets, profit margin, consumption, sales profitability, personnel costs and value added. The qualitative value drivers are good reputation, human resources (employees) and its characteristics, business and flexibility, performance and productivity, assets, competency responsible staff, attentiveness to requirement of customers, innovation and quality.
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