Template-Type: ReDIF-Article 1.0 Author-Name: Jan Vavřina Author-Workplace-Name: Mendel University in Brno Author-Name: Lubor Lacina Author-Workplace-Name: Mendel University in Brno Title: Profitability of Business Entities Settled in Selected Countries of the Eurozone Periphery Abstract: Greece, Ireland, Portugal and Spain can be defined as Eurozone periphery countries due to their specifics being rooted in policy systems and lagging behind in economic performance when compared with EU-15 countries. The objective of this paper is to provide an initial exploration of the similar and dissimilar business aspects' development within observed Greek and Irish entities' economic performance in different industries, using two-dimensional visualisation in the context of the recent world financial and economic crisis. This visualisation approach using classical correspondence analysis helps to reveal broader associations, which could influence the economic status of observed business units. Greek and Irish businesses which have been considered to be specifically, strongly and negatively influenced by the world economic downturn were observed. A sample of companies' corporate financial statements' data were employed. The sample of entities was set up according to the criterion of profitability of the whole involved capital development, regardless of its nature during the time period of the years 2008 - 2010, i. e. according to either the continual increase or decrease of the aforementioned indicator. Consequently, there were explored other attributes of assorted businesses, namely economic size and industry classification as the components for cross-tabular data sets. Authors revealed associations among different industries and size categories of Greek and Irish businesses using classical correspondence analysis. Classification-JEL: G32,M21 Keywords: Eurozone, Economic Crisis, Correspondence Analysis, Business Entities, Financial analysis Journal: Acta Universitatis Bohemiae Meridionalis Pages: 75-91 Volume: 17 Issue: 2 Year: 2014 DOI: 10.32725/acta.2014.005 File-URL: http://acta.ef.jcu.cz/doi/10.32725/acta.2014.005.html File-Format: text/html File-URL: http://acta.ef.jcu.cz/doi/10.32725/acta.2014.005.pdf File-Format: Application/pdf X-File-Ref: http://acta.ef.jcu.cz/RePEc/boh/references/aub-201402-0001.txt Handle: RePEc:boh:actaub:v:17:y:2014:i:2:p:75-91 Template-Type: ReDIF-Article 1.0 Author-Name: Lenka Smékalová Author-Workplace-Name: Tomas Bata University in Zlín Title: An Analysis of the Impact of Cohesion Policy in the Transport Sector Abstract: With reference to the general importance of transport infrastructure for regional development, this paper takes a different approach to the analysis of the European Union cohesion policy funding and views it in terms of transport oriented business entities. It analyses the data matrix of cohesion policy funded projects in the period 2007 - April 2011, in terms of the beneficiary characteristics, project characteristics and spatial distribution within the districts of the Czech Republic. The results show particular activity of public sector entities in transport infrastructure oriented projects, while private sector entities focus rather on human resources and technological advancement projects. The analysis confirms the predominance of small and medium enterprises among the beneficiaries in the majority of districts, but results contradict the officially declared preference of economically lagging regions. Classification-JEL: O18,O22,R42 Keywords: Cohesion Policy, Private Sector, Public Sector, Small and Medium Enterprises, Transport Journal: Acta Universitatis Bohemiae Meridionalis Pages: 93-101 Volume: 17 Issue: 2 Year: 2014 DOI: 10.32725/acta.2014.006 File-URL: http://acta.ef.jcu.cz/doi/10.32725/acta.2014.006.html File-Format: text/html File-URL: http://acta.ef.jcu.cz/doi/10.32725/acta.2014.006.pdf File-Format: Application/pdf X-File-Ref: http://acta.ef.jcu.cz/RePEc/boh/references/aub-201402-0002.txt Handle: RePEc:boh:actaub:v:17:y:2014:i:2:p:93-101 Template-Type: ReDIF-Article 1.0 Author-Name: Miroslava Dolejšová Author-Workplace-Name: Tomas Bata University in Zlín Title: Which Altman Model Do We Actually Use? Abstract: The aim of this paper is to critically evaluate the terms that are described by various authors in Czech literature, compare those terms with the terms used by the original Altman model, use data from selected enterprises to show whether enterprises could be considered at risk of bankruptcy due to such inaccuracies and verify whether the average Z-score values for small enterprises within the Zlín Region are greater than 3. The data were analysed using a one-sample t-test and the Altman model for enterprises that are not publicly-traded. Financial statements for 2007 through 2011 were used in the data analysis.The one-sample t-test showed that the sample of 32 small enterprises from the Zlín Region had good financial health. The largest percentage change that was associated with a decline in performance was demonstrated when adding net profit to retained earnings (-16.64%). The largest percentage change that was associated with an improvement in performance was demonstrated when using current assets instead of working capital (33.07%). Replacing retained earnings with net profit reduced the enterprise's performance (a percentage change of -24.43%). Adding funds from profit and net profit to retained earnings reduced performance by 0.17 percentage points.We recommend using net working capital to calculate the X1 ratio. Retained earnings should be used to calculate the X2 ratio. Only sales should be used to calculate the X5 ratio. For manufacturing enterprises that are not publicly-traded, we recommend using equation (8). Publicly-traded enterprises may use equation (2). Enterprises that provide services and enterprises in emerging markets may use equation (4). Classification-JEL: C12,C81,G33,G34 Keywords: Prediction of bankruptcy, Altman model, Misinterpretation, small enterprises, one-sample t-test Journal: Acta Universitatis Bohemiae Meridionalis Pages: 103-111 Volume: 17 Issue: 2 Year: 2014 DOI: 10.32725/acta.2014.007 File-URL: http://acta.ef.jcu.cz/doi/10.32725/acta.2014.007.html File-Format: text/html File-URL: http://acta.ef.jcu.cz/doi/10.32725/acta.2014.007.pdf File-Format: Application/pdf X-File-Ref: http://acta.ef.jcu.cz/RePEc/boh/references/aub-201402-0003.txt Handle: RePEc:boh:actaub:v:17:y:2014:i:2:p:103-111