D 2015

WACC and factors influenced its level in conditions of SMEs in Czech Republic

KUBÍČKOVÁ, Dana and Kamila GROMBÍŘOVÁ

Basic information

Original name

WACC and factors influenced its level in conditions of SMEs in Czech Republic

Name in Czech

WACC and factors influenced its level in conditions of SMEs in Czech Republic

Authors

KUBÍČKOVÁ, Dana and Kamila GROMBÍŘOVÁ

Edition

Ostrava, sborník mezinárodní vědecké konference, p. 299-308., 9 pp. 2015

Publisher

VSB-TU Ostrava

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50200 5.2 Economics and Business

Country of publisher

Czech Republic

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

electronic version available online

Organization unit

University of Finance and Administration

ISBN

978-80-248-3865-6

Keywords (in Czech)

WACC, capital structure, costs of equity

Keywords in English

WACC, capital structure, costs of equity

Tags

International impact, Reviewed
Změněno: 20/10/2021 22:44, Ing. Dana Kubíčková, CSc.

Abstract

ORIG CZ

V originále

This paper is focused on the indicator of WACC in the conditions of SMEs in the transitional economy in the Czech Republic. The behavior of SMEs in connection with the capital structure is described as specific, with a special features rooted in the national economic conditions. The research question is what is the typical model of capital structure of these companies in the Czech Republic and if there are differences in the individual section of SMEs, i. e. in micro, small and medium companies. The research is based on the set of three hundreds of Czech small and medium companies, data of which were derived from the database of Albertina. The results confirmed the findings of previous research: the main part of the firms´ capital is formed by the equity. The share of foreign resources is composed primarily of trade payables. Indicator WACC thus reflects mainly costs of equity in a concrete branch and company.

In Czech

This paper is focused on the indicator of WACC in the conditions of SMEs in the transitional economy in the Czech Republic. The behavior of SMEs in connection with the capital structure is described as specific, with a special features rooted in the national economic conditions. The research question is what is the typical model of capital structure of these companies in the Czech Republic and if there are differences in the individual section of SMEs, i. e. in micro, small and medium companies. The research is based on the set of three hundreds of Czech small and medium companies, data of which were derived from the database of Albertina. The results confirmed the findings of previous research: the main part of the firms´ capital is formed by the equity. The share of foreign resources is composed primarily of trade payables. Indicator WACC thus reflects mainly costs of equity in a concrete branch and company.