Petra Růčková, Nicole Škuláňová
Every company needs financial resources for its business activities before its establishment and during its existence. For accounting purposes, these funds are arranged in the balance sheet, in which they form a part called the capital or financial structure, which, including both longterm and short-term sources of funding, is the subject of this research. In addition to the time structure, the financial structure is further divided into equity and debt sources of financing. The question that economists have been trying to answer for more than half a century is “what the right ratio of equity and debt sources of funding is?” We could find studies of various years, such as Modigliani and Miller (1963), Bradley et al. (1984), Bokpin (2009), Orlova et al. (2020), Růčková and Stavárek (2020) or Jin (2021). Unfortunately, even in such a long time, no answer has been found, because the balance of funding sources is influenced by a number of factors and therefore, countless studies dealing with this issue are still being published. In view of this fact, there is no general theory of capital structure, as stated by Myers (2001).
Gabriela Trnková, Zdeňka Žáková Kroupová
The production of food products is one of the strategic branches of the manufacturing industry, as it supplies food to the market and thus ensures the diet of the population. In 2018, based on data from the Ministry of Industry and Trade (MPO, 2019), the food industry accounted for 5.4% of the total value added of the manufacturing industry. Furthermore, 7.6% of employees in the total number of manufacturing industry workers demonstrate social importance, however, with a significant wage disparity compared to other sectors of the manufacturing industry. The business structure of the Czech food industry is represented mainly by small and medium-sized enterprises and so the importance of this sector is also irreplaceable from rural development point of vies. However, in a strong competitive environment, more and more production concentration and at the same time specialization are manifested.
Elwira Gross-Gołacka, Marta Kusterka-Jefmańska, Paulina Spałek, Bartłomiej Jefmański
In the modern world, one of the key factors of success of an organization is intellectual capital. A dynamically changing external environment exerts pressure on enterprises to implement innovative solutions, products and services. The value created to a lesser degree depends on the possessed tangible assets, compared to the value of intangible ones. Intellectual capital resources are established as the basis for the level of competitiveness of an organization in the 21st century by among others Bounfour and Edvinsson (2005), Cabrita and Vaz (2006). Currently, competitive advantage is determined by unique recourses, which are difficult to reproduce by the competition. Intellectual capital is thus more and more often perceived as a key resource of an enterprise. It is also one of the most valuable resources of an enterprise, which enables its sustainable development. It is critical base of organization’s innovative and strategic sustainability (Bontis, 2002; Bontis et al., 2000). It is comprised of human capital, structural capital and relational capital.
Mohammed Nazim Uddin, Mosharrof Hosen, Mustafa Manir Chowdhury, Tanbina Tabassum, Manjurul Alam Mazumder
Corporate governance has been a critical issue focused by regulatory bodies, policymakers, and academicians to improve the economic and sustainability conditions in developing countries for over a decade (Brown et al., 2011; Wintoki et al., 2012; Claessens, 2006). Additionally, the collapse of corporate governance has compromised the government legally, financially, and economically, resulting in a lack of accountability in Bangladesh. An organised financial system includes proper asset allocation, fund abuse prevention, minority interest protection, and timely dividend payment to improve the corporate governance system and enable corporate laws to enhance firm value (La Porta, 2006). In a competitive global market, a robust regulatory framework is required to mandate organisational compliance involving policies and procedures to ensure accountability (Uddin et al., 2019).
Mohan Saini, Denisa Hrušecká
Logistics has become one of the key vertical in the organization and as an important industry for an economy as a whole. It plays an important role in the economic development of a country, including various infrastructure development to support and enhance manufacturing and other sectors. The economy has to perform efficiently in this sector for supporting a growth in all other sectors. To provide a visibility on the same, World Bank publishes index for providing visibility on the performance and scope for improvement in logistics sectors of economies. This index is known as logistics performance index and this has been included in this study for understanding the effect on economic development of the country along with the logistics cost.