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- ItemWhy Do Companies Go Public? Evidence from the Prague Stock Exchange(Cracow University of Economics, 2019-03-19) Skalická, Martina; Zinecker, Marek; Balcerzak, Adam Przemyslaw; Meluzín, TomášObjective: In this article, we intend to contribute evidence in regard to going public motivation on a sample of companies that launched an IPO at the Prague Stock Exchange between 2004 and 2017. Research Design & Methods: In order to evaluate the prevailing motives for the IPO launch, we design and apply a set of composite indicators the values of which may be understood as an indication of the extent to which IPO launch motives originate in the zone of the issuing company's needs or in the zone of interest of its owner (owners). Findings: Our main conclusion is that the dominant going public motivation is to allow current shareholders to cash out and to enhance the company's publicity and image. Implications & Recommendations: Since the study disclosed that the prevailing motive of primary issues at the Prague Stock Exchange was the exit of investors and enhancing publicity and image we suggest that companies launching the Prague Stock Exchange in recent years were predominantly determined by non-financial aspects. Thus, the research findings represent substantial implications for issuers, investment bankers, the stock exchange, and macroeconomic policy makers when the concept of incentive schemes how to increase the attractiveness of the local capital market will be proposed. Contribution & Value Added: Our set of composite indicators allows to assess not only the predominant IPO motive zone, but also measure the intensity of the motives. This helps to understand better the urgency of the needs of the issuing companies satisfied by the IPO implementation.
- ItemHR Marketing as Supporting Tool of New Managerial Staff in Industry 4.0(MDPI, 2019-08-21) Procházková, Kateřina; Milichovský, FrantišekHuman Resource marketing (HRM) is focused on the creation of job-position with all relevant parameters such as work specification, wage, and adequate communication of job-offer. Wage is possible to understand not only the amount of money but also as all kinds of reward for the work. Remuneration of staff has received more interest during the last decade, especially in connection of managers and the concept of industry 4.0. Job offers description helps to find out suitable applicants for specific managerial positions. The main objective of the paper is to state the relationship between gender and the chosen variables (job-sources). For this purpose, there was a realized questionnaire survey, focused on HRM in the business environment in the Czech Republic. The sample population for survey consists of 522 people, from which gave back only 185 participants (return is 35,44%). To process gained data, there were employed Pearson’s chi-square test for independence, cluster analysis. Graphical design was made by ROC curve. According to results, there were defined relationships between gender and job servers as job-source, and gender and social networks as job-source. This dependence is supported by the ROC curve, which shows the expectation of wage income according to work-experience.
- ItemModeling cause and effect relationships of strategy map using economic and social performance factors in the organizational culture(Mendel University Press, 2020-07-01) Hornungová, Jana; Petrová, Kateřina; Milichovský, FrantišekThe paper deals with the possibility to use a strategy map as a tool for the management of a company's strategy. The objective of the paper is to introduce performance factors that are included in the map, playing an important role in the evaluation of economic and social indicators. According to defined factors we stated the performance model with a focus on three important corporate perspectives such as economic, working environment, and the local community. These perspectives are considered such an important part of the strategic management of the business and can help an organization to define and assess progress towards the attainment of its objectives. The introductory part of the article presents the reduction of economic and social factors of performance and further uses this information to draft a strategy map, specific to the chosen sector. Establishment of causal link schemes among the individual strategic objectives, mutually linked and influencing each other, leads to the confirmation that the success of the strategy depends on many factors.
- ItemFactor Analysis: An Instrument for Selection of Social Performance Factors(Universidad Pablo de Olavide, 2014-06-06) Hornungová, JanaThe article is focused on the identification of social performance factors. For this purpose was used multidimensional statistical method – factor analysis. The basic set for the selection of indicators, was the concept (and the social tool) of Corporate Social Responsibility, subsequently, was constructed the questionnaire. Empirical research was attended by 32 companies, from the area Information and Communication Activities (CZ-NACE, section J), with the number of employees over 250. The aim of the factor analysis was selection of significant indicators and performance factors for selected area from the input database. On the basis of the paper, there were evaluated three social factors from the area of working environment and two social factors from the area of local community. The understanding of their application into the internal management shall be necessary prior to company's decision regarding the measures of key performance indicators.
- ItemInsolvency Forecasting through Trend Analysis with Full Ignorance of Probabilities(University of Economics, Prague, 2020-05-31) Poláček, Tomáš; Kruntorádová, MarkétaThe complex views of insolvency proceedings are unique, poorly known, interdisciplinary and multidimensional, even though there is a broad spectrum of different BM (Bankruptcy Models). Therefore, it is often prohibitively difficult to make forecasts using numerical quantifiers and traditional statistical methods. The least information-intensive trend values are used: positive, increasing, zero, constant, negative, decreasing. The solution of a trend model is a set of scenarios where X is the set of variables quantified by the trends. All possible transitions among the scenarios are generated. An oriented transitional graph has a set of scenarios as nodes and the transitions as arcs. An oriented path describes any possible future and past time behaviour of the bankruptcy system under study. The graph represents the complete list of forecasts based on trends. An eight-dimensional model serves as a case study. On the transitional graph of the case study model, decision tree heuristics are used for calculating the probabilities of the terminal scenarios and possible payoffs.