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- ItemA LITERATURE REVIEW OF BUSINESS PERFORMANCE MEASUREMENT(Mendel University Press, 2024-10-16) Sobotková, NikolaThe paper is aimed at a critical review of the literature dealing with the measurement of business performance. Because, nowadays the importance of implementing modern and effective management methods to maintain competitive advantage in almost all business sectors is emphasised, given the increasing competitive pressure. The measurement of business performance is also an important aspect of management and decision-making in organisations. Various indicators are currently being investigated to show the importance of modern approaches and effective measurement systems. This paper aims to identify a list of these modern methods, their bottlenecks and point out the possibility of introducing new and better indicators for performance measurement. The aim of this work is thus to create a critical review of the literature, especially about the latest findings of research articles on the selected topic. The purpose of this article is then to point out the limits of the current state of literature in the field of modern methods to measure business performance and highlight possible research gaps arising from the review in this area.
- ItemNEW AML TOOLS: ANALYZING ETHEREUM CRYPTOCURRENCY TRANSACTIONS USING A BAYESIAN CLASSIFIER(Fintechalliance LLC, 2024-09-21) Lyeonov, Serhiy; Tumpach, Miloš; Loskorikh, Gabriella; Filatova, Hanna; Reshetniak, Yaroslav; Dinits, RuslanThe emergence of cryptocurrencies as a form of digital payments has contributed to the emergence of numerous opportunities for the implementation of effective and efficient financial transactions, however, new fraud and money laundering schemes have emerged, as the anonymity and decentralization inherent in cryptocurrencies complicate the process of monitoring transactions and control by governments and law enforcement agencies. This study aims to develop a mechanism for analyzing transactions in the Ethereum cryptocurrency using a Bayesian classifier to identify potentially suspicious transactions that may be related to terrorist financing and money laundering. The Bayesian approach makes it possible to consider the probabilistic characteristics of transactions and their interrelationships to increase the accuracy of detecting anomalous and potentially illegal transactions. For the analysis, data on transactions of the Ethereum currency from June 2020 to December 2022 were taken. The developed mechanism involves determining a set of characteristics of transaction graph nodes that identify the potential for their use in illegal financial transactions and forming intervals of their permissible values. The article presents cryptocurrency transactions as an oriented graph, with the nodes being the entities conducting transactions and the arcs being the transactions between the nodes. In assessing the risks of using cryptocurrencies in money laundering, the number/amount of transactions to and from the respective node, the balance of these transactions (absolute value), and the type of node were considered. The analysis showed that among the 100 largest nodes in the network, 11 were identified as having a << critical >> risk level, and the most closely connected nodes were identified. This methodology can be used not only to analyze the Ethereum cryptocurrency but also for other cryptocurrencies and similar networks.
- ItemFactors of Credit Ratings for Transfer Pricing of Loans in European Conditions(Prague Univ Economics and Business, 2024-10-10) Boďa, Martin; Brychta, Karel; Ištok, Michal; Solilová, VeronikaIn accord with international transfer pricing regulations, the borrower's creditworthiness is the main factor to be reflected in valuation of cross-border loan transactions between associated enterprises. However, trouble invariably arises for small and medium-sized enterprises that do not have an assigned credit rating. The aim of this paper is to determine the most reliable predictors of a company's credit rating for European entities facing missing rating coverage for the purpose of transfer pricing. Based on 2015-2019 data sourced from the Orbis database, the study examines key financial ratios and non-financial information that could be instrumental in reconstructing a long-term rating category of a company assigned by Moody's Investors Service. The results identify interest coverage as the most useful predictor. Therefore, a law-approved and taxcredit rating) should preferably exploit interest coverage as a link to the otherwise missing ratings.
- ItemUnique Features of Czech Family Businesses(Sciendo, 2024-07-18) Srbová, Pavla; Režňáková, MáriaPurpose of the article Family businesses are the predominant form of business, and not only in the Czech Repub-lic. As such, they have a significant impact on the economy. The literature review shows that family businesses have specific characteristics that distinguish them from non-family businesses. A family business is one in which the family holds a majority ownership and controls strategic decisions. In these businesses, there is a sense of social responsibility, and the owners tend to care about the business environment and support the next generation of the family. As a result, increased attention is paid to the specifics of these businesses. It is, therefore, important to know the specifics of Czech family businesses and compare them with assumptions from the literature. Methodology/methods The characteristics of family-owned businesses were identified on the basis of a literature review. These characteristics were then the subject of a questionnaire survey. Data were analysed using descriptive statistics and evaluated in relation to assumptions made in the foreign literature. Scientific aim This article aims to describe the specifics of Czech family businesses and compare them with the assumptions derived from the literature. This is followed by an explanation of the reasons for the differences found as compared to expectations. Findings The following differences from foreign research on family businesses can be highlighted: Czech family businesses have a short history, they do not often develop long-term plans, one third of owners are willing to accept non-family investors, and only 10% of owners stated that family members are preferred when selecting employees. Conclusions Many family businesses in the Czech Republic are currently dealing with the first generational trans-fer. This study improves understanding of Czech family business specifics, which could help to prevent failures in the succession of family businesses to the next generation. Originality/value The study examines the unique aspects of Czech family businesses as compared to their coun-terparts abroad.
- ItemPerformance of Family Businesses in the Specific Conditions of CEE Countries: The Case of the Czech Republic(SAV SR, 2024-08-23) Režňáková, Mária; Karas, Michal; Srbová, Pavla; Pěta, Jan; Michalíková, EvaMany authors point out that family businesses in the CEE region due to a dif-ferent historical development might exhibit specific features and because of that deserve specific attention. The presented paper aims to contribute to this effort by exploring factors driving the performance of family businesses in the Czech Republic, in course of the research a panel of 7,995 businesses was analyzed by using the linear mixed effects model. The common problem of missing data, especially on micro-enterprises, was addressed by using CHAID methodology. We found that the factors driving family business performance differs between micro and SMEs segments of businesses, while the effect of families is most significant in terms of the model’s slope rather than constant.