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@inproceedings{7251,
author = {Kubíčková, Dana and Nulíček, Vladimír and Jindřichovská, Irena},
address = {Prague},
booktitle = {Proceedings of the “The 12th International Days of Statistics and Economics“},
editor = {Löster, T., Pavelka T.},
keywords = {Economic value added; Cost of equity; SMEs},
howpublished = {elektronická verze "online"},
language = {eng},
location = {Prague},
isbn = {978-80-87990-14-8},
pages = {949-958},
publisher = {L. Mackáková, Melandrium (University of Economics, Prague)},
title = {Indicator EVA in conditions of SMEs in the Czech Republic},
url = {https://msed.vse.cz/msed_2018/article/145-Kubickova-Dana-paper.pdf},
year = {2018}
}
TY - JOUR
ID - 7251
AU - Kubíčková, Dana - Nulíček, Vladimír - Jindřichovská, Irena
PY - 2018
TI - Indicator EVA in conditions of SMEs in the Czech Republic
PB - L. Mackáková, Melandrium (University of Economics, Prague)
CY - Prague
SN - 9788087990148
KW - Economic value added
KW - Cost of equity
KW - SMEs
UR - https://msed.vse.cz/msed_2018/article/145-Kubickova-Dana-paper.pdf
L2 - https://msed.vse.cz/msed_2018/article/145-Kubickova-Dana-paper.pdf
N2 - This paper focuses on the indicator Economic Value Added (EVA) in Small and Medium Enterprises (SMEs) in the transitional economy of the Czech Republic. EVA has been in the use on capital markets and in-company managerial calculations since the 1980s. Our research question is to find the actual level of this indicator in conditions of different segments of SMEs market (cross-industry comparison) and furthermore provide comparison of SMEs with large companies. The second research question is to find whether the level of EVA differs depending on the branch of industry in which the SMEs operate. And the last question is to assess whether the level of EVA changes in correlation with selected in company indicators. The research employs a set of 16,302 company data obtained from Albertina database. The preliminary results confirmed the findings of previous research and furthermore they show that the level of EVA indicator is generally very low in the Czech Republic even in the large companies. The findings are limited by many factors stemming from the nature of general economic environment, however, they can contribute to the general overview of the capital employed in the Czech Republic as the transitional economy. The results may serve as an introductory study for the following research on company decision-making. From the standpoint of comparison of EVA has certain shortcoming namely from the point of view that EVA (Economic Value Added) is essentially an absolute value expressed in currency units. For intra-industry comparison we would like to use some comparative value - a ratio similar to ROE or ROA. In our research we attempt to calculate similar measures and use them for comparison.
ER -
KUBÍČKOVÁ, Dana, Vladimír NULÍČEK a Irena JINDŘICHOVSKÁ. Indicator EVA in conditions of SMEs in the Czech Republic. In Löster, T., Pavelka T. \textit{Proceedings of the “The 12th International Days of Statistics and Economics“}. Prague: L. Mackáková, Melandrium (University of Economics, Prague). s.~949-958. ISBN~978-80-87990-14-8. 2018.
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