Alter Ego Only Four Times? The Case Study of Business Profits in the Visegrad Group

Simple item page
dc.contributor.authorValášková, Katarína
dc.contributor.authorGavurová, Beáta
dc.contributor.authorĎurana, Pavol
dc.contributor.authorKováčová, Mária
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2020-09-02T09:42:30Z
dc.date.available2020-09-02T09:42:30Z
dc.description.abstractThe paper studies a new point of view and the approach to profit as an inherent part of business finance as well as a symbol of every healthy economy. The fundamental function of the profit is a stimulus; it means initial motivator of the business activity. The profit provides core resources for survival at the business start and after the stabilization, it is the synonym for progress. The aim of this paper is to detect significant change-points in times series of EBITDA during the analysed period in every country of the Visegrad Group to recognize the progress years in the monotonic development. We use a method of homogeneity test of time series that delivers significant robust results. We observe the variable EBITDA to eliminate different tax, interest and depreciation policies of these emerging countries. The original research of this article is based on empirical results of business profits of the sample of 3,853 enterprises covered by the broad theoretical review. Firstly, we identify missing values; and detect the outliers by Z-score and Grubbs test. EBITDA of 1,058 Slovak enterprises, 688 Czech enterprises, 1,376 Polish enterprises and 731 Hungarian enterprises is analysed during the period from 2010 to 2018. We eliminate the inconsistent observations and construct average values of EBITDA. Secondly, we prove normality by Jarque-Bera test, and support it by Shapiro-Wilk test, Anderson-Darling test, Lilliefors test to deliver reliable results. Thirdly, we find an independency of distribution that confirm randomness by the Box-Pierce test. And finally, we identify the years that affect heterogeneity of EBITDA in the countries of the Visegrad Four. We uncover some really surprising results. For all countries in the Visegrad Four, the year 2013 is detected as a change-point at a significance level of 0.05. This significant year shifts EBITDA between two homogeneous series with corresponding central lines and recognizes the similar annual development within the groups. In addition, we discuss the results to the areas and factors affecting the business risk. The adjustable area represented by the business dynamism has no significant impact on the development of EBITDA. The uncontrollable macroeconomic factors such as a GDP, unemployment rate, inflation rate, average monthly gross wage, and Ease of doing business index demonstrate the same development of Slovak, Czech, Polish and Hungarian enterprises. We connect our gained results to the undisputed influence of these factors and its derived components on monotonic development of EBITDA. Despite the fact, that the countries are not economically interconnected as they used to be in the past, in has to be underlined that their mutual relations are still very narrow and close and that might be the reason, why identical results are achieved in the countries with divergent development.en
dc.formattext
dc.identifier.doi10.15240/tul/001/2020-3-007
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/157483
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
dc.relation.isbasedonAerts, K., Kraft, K., & Lang, J. (2015). Profit sharing and innovation. Industrial and Corporate Change, 24(6), 1377–1392. https://doi.org/10.1093/icc/dtv009
dc.relation.isbasedonAgha, O. M. A. M., Bağçacı, S. Ç., & Şarlak, N. (2017). Homogeneity analysis of precipitation series in North Iraq. IOSR Journal of Applied Geology and Geophysics, 5(3), 57–63. https:// doi.org/10.9790/0990-0503025763
dc.relation.isbasedonAltman, J., & Dillon, M. (2005). Commercial development and natural resource management on the indigenous estate: A profit-related investment proposal. Economic Papers: A Journal of Applied Economics and Policy, 24(3), 249–262. https://doi. org/10.1111/j.1759-3441.2005.tb00377.x
dc.relation.isbasedonAnand, A., Singhal, S., & Singh, O. (2019). Optimal advertising duration for profit maximization. Journal of Management Analytics, 1–23. https://doi.org/10.1080/23270 012.2019.1702904
dc.relation.isbasedonAnderson, S. J., Chandy, R., & Zia, B. (2018). Pathways to profits: The impact of marketing vs. finance skills on business performance. Management Science, 64(12), 5559–5583. https://doi.org/10.1287/mnsc.2017.2920
dc.relation.isbasedonAngelova, G., Parvanov, P., Chetrafilov, G., Krasteva, N. Y., & Krastev, V. I. (2017). Sustainability in tourism cadre training and selection in Bulgaria perceptions of university students on their skills. REVISTA INCLUSIONES, 4(3), 144–156.
dc.relation.isbasedonAram, J. D., & Cowen, S. S. (1990). Strategic planning for increased profit in the small business. Long Range Planning, 23(6), 63–70. https://doi.org/10.1016/0024-6301(90)90103-B
dc.relation.isbasedonBai, J., & Ng, S. (2005). Tests for skewness, kurtosis, and normality for time series data. Journal of Business & Economic Statistics, 23(1), 49–60. https://doi. org/10.1198/073500104000000271
dc.relation.isbasedonBelás, J., & Sopková, G. (2016). A Model of Entrepreneurial Orientation. Transformation in Business & Economics, 15(2), 630–644.
dc.relation.isbasedonBlomgren, A. (2011). Does corporate social responsibility influence profit margins? A case study of executive perceptions. Corporate Social Responsibility and Environmental Management, 18(5), 263–274. https://doi. org/10.1002/csr.246
dc.relation.isbasedonBogliacino, F., & Pianta, M. (2012). Profits, R&D, and innovation – A model and a test. Industrial and Corporate Change, 22(3), 649– 678. https://doi.org/10.1093/icc/dts028
dc.relation.isbasedonBox, G. E., & Pierce, D. A. (1970). Distribution of residual autocorrelations in autoregressive-integrated moving average time series models. Journal of the American Statistical Association, 65(332), 1509–1526. https://doi.org/10.2307/2284333
dc.relation.isbasedonCapponi, G., Criscuolo, P., Martinelli, A., & Nuvolari, A. (2019). Profiting from innovation: Evidence from a survey of Queen’s Awards winners. Structural Change and Economic Dynamics, 49, 155–169. https://doi. org/10.1016/j.strueco.2019.02.002
dc.relation.isbasedonCarroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. Academy of management review, 4(4), 497– 505. https://doi.org/10.5465/amr.1979.4498296
dc.relation.isbasedonCarroll, A. B. (1998). The four faces of corporate citizenship. Business and society review, 100/101(1), 1–7. https://doi. org/10.1111/0045-3609.00008
dc.relation.isbasedonChen, E. H. (1971). The power of the Shapiro-Wilk W test for normality in samples from contaminated normal distributions. Journal of the American Statistical Association, 66(336), 760–762. https://doi.org/10.1080/0162 1459.1971.10482342
dc.relation.isbasedonChuang, C.-J., & Wu, C.-W. (2019). Determining optimal process mean and quality improvement in a profit-maximization supply chain model. Quality Technology & Quantitative Management, 16(2), 154–169. https://doi.org/1 0.1080/16843703.2017.1389124
dc.relation.isbasedonDesyllas, P., & Sako, M. (2013). Profiting from business model innovation: Evidence from Pay-As-You-Drive auto insurance. Research Policy, 42(1), 101–116. https://doi.org/10.1016/j. respol.2012.05.008
dc.relation.isbasedonDufour, J.-M., Farhat, A., Gardiol, L., & Khalaf, L. (1998). Simulation-based Finite Sample Normality Tests in Linear Regressions. Econometrics Journal, 1(1), 154–173. https://doi.org/10.1111/1368-423X.11009
dc.relation.isbasedonFarrell, P. J., & Rogers-Stewart, K. (2006). Comprehensive study of tests for normality and symmetry: extending the Spiegelhalter test. Journal of Statistical Computation and Simulation, 76(9), 803–816. https://doi. org/10.1080/10629360500109023
dc.relation.isbasedonFelstead, M. (2019). Cyber-physical production systems in Industry 4.0: Smart factory performance, innovation-driven manufacturing process innovation, and sustainable supply chain networks. Economics, Management, and Financial Markets, 14(4), 37–43. https://doi. org/10.22381/EMFM14420195
dc.relation.isbasedonFreeman, R. (1984). Strategic Management: A Stakeholder Perspective. Englewood Cliffs, NJ: Prentice-Hall.
dc.relation.isbasedonFriedman, H. H., Friedman, L. W., Frankel, M. R., & Amoo, T. (2019). Enhancing critical and ethical thinking with scenarios. Psychosociological Issues in Human Resource Management, 7(1), 7–29. https://doi. org/10.22381/PIHRM7120191
dc.relation.isbasedonFriedman, M. (1970, September 13). The social responsibility of business is to increase its profits. The New York Times Magazine, pp. 122–126. https://doi.org/10.1007/978-3- 540-70818-6_14
dc.relation.isbasedonFurnham, P. (2019). Automation and autonomy of big data-driven algorithmic decision-making. Contemporary Readings in Law and Social Justice, 11(1), 51–56. https://doi.org/10.22381/CRLSJ11120198
dc.relation.isbasedonGarcia, F. A. A. (2012). Tests to Identify Outliers in Data Series (Doctoral dissertation). Rio de Janeiro: Pontifical Catholic University of Rio de Janeiro.
dc.relation.isbasedonGarst, J., Blok, V., Jansen, L., & Omta, O. (2017). Responsibility versus profit: The motives of food firms for healthy product innovation. Sustainability, 9(12), 2286. https://doi.org/10.3390/su9122286
dc.relation.isbasedonGazzola, P., Vătămănescu, E.-M., Andrei, A. G., & Marrapodi, C. (2019). Users’ motivations to participate in the sharing economy: Moving from profits toward sustainable development. Corporate Social Responsibility and Environmental Management, 26(4), 741–751. https://doi.org/10.1002/csr.1715
dc.relation.isbasedonGeorge, R., & Kabir, R. (2008). Business groups and profit redistribution: A boon or bane for firms? Journal of Business Research, 61(9), 1004–1014. https://doi.org/10.1016/j. jbusres.2007.12.002
dc.relation.isbasedonGhosh, D., & Vogt, A. (2012). Outliers: An evaluation of methodologies. In JSM Proceedings, Survey Research Methods Section (pp. 3455– 3460). Alexandria, VA: American Statistical Association. Retrieved from http://www.asasrms. org/Proceedings/y2012/Files/304068_72402.pdf
dc.relation.isbasedonGhosh, D., Ghosh, D. K., & Zaher, A. A. (2011). Business, ethics, and profit: Are they compatible under corporate governance in our global economy? Global Finance Journal, 22(1), 72–79. https://doi.org/10.1016/j.gfj.2011.05.006
dc.relation.isbasedonGil Salmerón, A. M. (2016). The relationship of CSR and the business profit: can the most responsible companies be more profitable? Revista FIR, FAEDPYME International Review, 5(8), 60–71. Retrieved from http://faedpyme.ojs. upct.es/index.php/revista1/article/view/107/162
dc.relation.isbasedonHallberg, N. L., & Brattström, A. (2019). Concealing or revealing? Alternative paths to profiting from innovation. European Management Journal, 37(2), 165–174. https://doi.org/10.1016/j.emj.2018.04.003
dc.relation.isbasedonHayhoe, T., Podhorská, I., Siekelová, A., & Stehel, V. (2019). Sustainable manufacturing in Industry 4.0: Cross-sector networks of multiple supply chains, cyberphysical production systems, and AI-driven decision-making. Journal of Self-Governance and Management Economics, 7(2), 31–36. https://doi.org/10.22381/JSME7220195
dc.relation.isbasedonHu, M.-C., Kang, J.-S., & Wu, C.-Y. (2017). Determinants of profiting from innovation activities: Comparisons between technological leaders and latecomers. Technological Forecasting and Social Change, 116, 223–236. https://doi.org/10.1016/j.techfore.2016.10.013
dc.relation.isbasedonHudakova, M., Masar, M., Luskova, M., & Patak, M. R. (2018). The Dependence of Perceived Business Risks on the Size of SMEs. Journal of Competitiveness, 10(4), 54–69. https://doi.org/10.7441/joc.2018.04.04
dc.relation.isbasedonHussain, W. (2012). Corporations, profit maximization and the personal sphere. Economics & Philosophy, 28(3), 311–331. https://doi.org/10.1017/S0266267112000260
dc.relation.isbasedonJanoskova, K., & Kral, P. (2019). An InDepth Analysis of the Summary Innovation Index in the V4 Countries. Journal of Competitiveness, 11(2), 68–83. https://doi. org/10.7441/joc.2019.02.05
dc.relation.isbasedonJensen, M. C. (2001). Value maximization, stakeholder theory, and the corporate objective function. Journal of Applied Corporate Finance, 14(3), 8–21. https://doi. org/10.1111/j.1745-6622.2001.tb00434.x
dc.relation.isbasedonJensen, M. C. (2002). Value maximization, stakeholder theory, and the corporate objective function. Business Ethics Quarterly, 12(2), 235–256. https://doi.org/10.2307/3857812
dc.relation.isbasedonJeon, M. M., Lee, S., & Jeong, M. (2020). Perceived corporate social responsibility and customers’ behaviors in the ridesharing service industry. International Journal of Hospitality Management, 84, 102341. https://doi.org/10.1016/j.ijhm.2019.102341
dc.relation.isbasedonJones, T. M. (1995). Instrumental stakeholder theory: A synthesis of ethics and economics. Academy of Management Review, 20(2), 404–437. https://doi.org/10.5465/ amr.1995.9507312924
dc.relation.isbasedonKamble, S. S., Gunasekaran, A., & Gawankar, S. A. (2018). Industry 4.0 framework: A systematic literature review identifying the current trends and future perspectives. Process Safety and Environmental Protection, 117, 408–425. https://doi.org/10.1016/j. psep.2018.05.009
dc.relation.isbasedonKanovský, M. (2018). The Research Effectivity of Slovak Universities: Quantitative Analysis of Trends 2008–2017. Sociológia – Slovak Sociological Review, 50(4), 429–447. https://doi.org/10.31577/sociologia.2018.50.4.17
dc.relation.isbasedonKim, I.-H. S., Ku, T.-Y. D., & Lee, B.-Y. M. (2019). Business model schema: business model innovation tool based on direct causal mechanisms of profit. Technology Analysis & Strategic Management, 32(4), 379–396. https://doi.org/10.1080/09537325.2019.1661988 Komsta, L. (2006). Processing data for outliers. The Newsletter of the R Project, 6(2), 10–14.
dc.relation.isbasedonKotek, K., Schoenberg, A. M., & Schwand, C. (2018). CSR Behavior: Between Altruism and Profit Maximization. In R. Altenburger (Ed.), Innovation Management and Corporate Social Responsibility (pp. 159–169). Cham: Springer. https://doi.org/10.1007/978-3-319-93629-1_8
dc.relation.isbasedonKowo, A. S., Sabitu, O. O., & Bola, K. (2019). An investigation of the role of entrepreneurship agencies for entrepreneurship development in Nigeria. Ekonomicko-manazerske Spektrum, 13(2), 68–80. http://dx.doi.org/10.26552/ ems.2019.2.68-80
dc.relation.isbasedonKrastev, V., Koyundzhiyska-Davidkova, B., & Atanasova, I. (2020). The impact of the corruption on the sustainable development of the businesses in South-West Bulgaria. In Proceedings of the 19th International Scientific Conference Globalization and its Socio-Economic Consequences 2019 – Sustainability in the Global-Knowledge Economy (SHS Web of Conferences Vol. 74, No. 06015). Rajecke Teplice, Slovakia. https://doi.org/10.1051/shsconf/20207406015
dc.relation.isbasedonKrech, C. A., Rüther, F., & Gassmann, O. (2015). Profiting from invention: Business models of patent aggregating companies. International Journal of Innovation Manage­ ment, 19(03), 1540005. https://doi.org/10.1142/ S1363919615400058
dc.relation.isbasedonKrech, C. A., Rüther, F., & Gassmann, O. (2018). Profiting from invention: Business models of patent aggregating companies. In J. Tidd (Ed.), Exploiting Intellectual Property to Promote Innovation and Create Value (pp. 361–391). Singapur: World Scientific Publishing Company. https://doi.org/10.1142/9781786343512_0016
dc.relation.isbasedonKristofik, P., Horak, J., & Suler, P. (2019). Provision of trade credits in relation to corporate payment ability: Acase study of the Visegrad four. Ekonomicko-manazerske Spektrum, 13(1), 96– 108. https://doi.org/10.26552/ems.2019.1.96-108
dc.relation.isbasedonKrizanova, A., Moravcikova, K., & Rypakova, M. (2016). The social area of corporate social responsibility focusing on social policy. In G. Lee (Ed.), ICASS 5th International Conference on Applied Social Science (pp. 339–344). Bangkok, Thailand.
dc.relation.isbasedonLazonick, W., Mazzucato, M., & Tulum, Ö. (2013). Apple’s changing business model: What should the world’s richest company do with all those profits? Accounting Forum, 37(4), 249–267. https://doi.org/10.1016/j. accfor.2013.07.002
dc.relation.isbasedonLeite, F. S. F., de Figuêiredo, H. S., Hugo, S., & Crisóstomo, V. L. (2013). Applicability of the profit per employee as a measure of business performance. Revista de Gestão, Finanças e Contabilidade, 3(3), 75–93. Retrieved from http://oaji.net/articles/2014/1191-1408982842.pdf
dc.relation.isbasedonLemańska-Majdzik, A., & Okręglicka, M. (2015). Determinants and areas of an organisations’ success – literature review. In H. Kratochvílová & R. Kratochvíl (Eds.), Proceedings of IAC-MEM 2015 in Vienna. (pp. 32–42). Prague: Czech Institute of Academic Education.
dc.relation.isbasedonLi, Y., Su,-Z. F., & Liu, Y. (2010). Can strategic flexibility help firms profit from product innovation? Technovation, 30(5–6), 300–309. https://doi. org/10.1016/j.technovation.2009.07.007
dc.relation.isbasedonLjung, G. M., & Box, G. E. (1978). On a measure of lack of fit in time series models. Biometrika, 65(2), 297–303. https://doi. org/10.1093/biomet/65.2.297
dc.relation.isbasedonManish, G. P., & Sutter, D. (2016). Mastery versus profit as motivation for the entrepreneur: How crony policies shape business. Journal of Entrepreneurship and Public Policy, 5(1), 95–112. https://doi.org/10.1108/JEPP-10-2015-0032
dc.relation.isbasedonMcWilliams, A., & Siegel, D. (1997). Event studies in management research: Theoretical and empirical issues. Academy of Management Journal, 40(3), 626–657. https:// doi.org/10.5465/257056
dc.relation.isbasedonMcWilliams, A., & Siegel, D. (2000). Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journal, 21(5), 603–609. https://doi.org/10.1002/(SICI)1097-0266(200005) 21:5<603
dc.relation.isbasedonMcWilliams, A., & Siegel, D. (2001a). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review, 26(1), 117–127. https://doi. org/10.2307/259398
dc.relation.isbasedonMcWilliams, A., & Siegel, D. (2001b). Profit maximizing corporate social responsibility. Academy of Management Review, 26(4), 504–505. https://doi.org/10.5465/amr.2001.5393880
dc.relation.isbasedonMcWilliams, A., Siegel, D. S., & Wright, P. M. (2006). Corporate social responsibility: Strategic implications. Journal of Management Studies, 43(1), 1–18. https://doi.org/10.1111/ j.1467-6486.2006.00580.x
dc.relation.isbasedonMeals, D. W., Spooner, J., Dressing, S. A., & Harcum, J. B. (2011). Statistical analysis for monotonic trends. Tech Notes, 6, 1–23.
dc.relation.isbasedonMoravcikova, K., & Krizanova, A. (2016). Impact of corporate social responsibility on the company’s reputation. In H. Zhang (Ed.), ICMIBI International Conference on Applied Social Science and Business (pp. 20–25). Singapore: Singapore Management and Sports Science Institute.
dc.relation.isbasedonMulligan, T. (1986). A critique of Friedman, Milton essay the social-responsibility of business is to increase its profits. Journal of Business Ethics, 5(4), 265–269. https://doi. org/10.1007/BF00383091
dc.relation.isbasedonPettitt, A. N. (1979). A non-parametric approach to the change-point problem. Journal of the Royal Statistical Society: Series C (Applied Statistics), 28(2), 126–135. https://doi. org/10.2307/2346729
dc.relation.isbasedonPetricevic, O., & Teece, D. J. (2019). The structural reshaping of globalization: Implications for strategic sectors, profiting from innovation, and the multinational enterprise. Journal of International Business Studies, 50(9), 1487–1512. https://doi.org/10.1057/s41267-019-00269-x
dc.relation.isbasedonPinxterhuis, I., Dirks, S., Bewsell, D., Edwards, P., Brazendale, R., & Turner, J. A. (2019). Co-innovation to improve profit and environmental performance of dairy farm systems in New Zealand. Rural Extension & Innovation Systems Journal, 14(2), 23–33.
dc.relation.isbasedonPodhorska, I., Gajanova, L., Kliestikova, J., & Popescu, G. H. (2019). Analysis of Internally Generated Goodwill Indicators: A Case Study of the Slovak Republic. Organizacija, 52(4), 271–285. https://doi.org/10.2478/orga-2019-0017
dc.relation.isbasedonPohlert, T. (2020). Non-parametric trend tests and change-point detection. Creative Commons License (CC BY-ND 4.0). Retrieved from https://cran.r-project.org/web/packages/ trend/vignettes/trend.pdf
dc.relation.isbasedonPrimeaux, P. (1997). Business Ethics in Theory and Practice: Diagnostic Notes B. A Prescription for Profit Maximization. Journal of Business Ethics, 16(3), 315–322. https://doi. org/10.1023/A:1005715916297
dc.relation.isbasedonPrimeaux, P., & Stieber, J. (1994). Profit maximization: The ethical mandate of business. Journal of Business Ethics, 13(4), 287–294. https://doi.org/10.1007/BF00871675
dc.relation.isbasedonRahman, A., Rozsa, Z., & Cepel, M. (2018). Trade Credit and Bank Finance – Evidence from the Visegrad Group. Journal of Competitiveness, 10(3), 132–148. https://doi. org/10.7441/joc.2018.03.09
dc.relation.isbasedonRahman, A., Belas, J., Kliestik, T., & Tyll, L. (2017). Collateral requirements for SME loans: empirical evidence from the Visegrad countries. Journal of Business Economics and Management, 18(4), 650–675. http://doi.org/10. 3846/16111699.2017.1357050
dc.relation.isbasedonRazali, N. M., & Wah, Y. B. (2011). Power comparisons of Shapiro-Wilk, KolmogorovSmirnov, Lilliefors and Anderson-Darling tests. Journal of Statistical Modeling and Analytics, 2(1), 21–33.
dc.relation.isbasedonRobson, G. (2019). To profit maximize, or not to profit maximize: For firms, this is a valid question. Economics & Philosophy, 35(2), 307–320. https://doi.org/10.1017/ S0266267118000329
dc.relation.isbasedonRowland, Z. (2019). Business environment assessment based on profits: A comparative study of the Czechia and Slovakia. In D. Dukic, T. Studzieniecki, & J. Grzinic (Eds.), Economic and social development: 49th International Scientific Conference on Economic and Social Development – “Building Resilient Society” (pp. 569–578). Varazdin: Varazdin Development and Entrepreneurship Agency.
dc.relation.isbasedonSchwab, K. (2014). The Global Competitiveness Reports 2013–2014. Geneva: World Economic Forum.
dc.relation.isbasedonSchwab, K. (2019). The Global Competitiveness Reports 2019. Geneva: World Economic Forum
dc.relation.isbasedonShahriar, A. Z. M., Schwarz, S., & Newman, A. (2016). Profit orientation of microfinance institutions and provision of financial capital to business start-ups. International Small Business Journal, 34(4), 532–552. https://doi. Org/10.1177/0266242615570401
dc.relation.isbasedonShapiro, S. S., & Wilk, M. B. (1965). An analysis of variance test for normality (complete samples). Biometrika, 52(3/4), 591–611. http://doi.org/10.2307/2333709
dc.relation.isbasedonSiegel, D. (2001). Do British companies really need a minister to make them socially responsible? Parliamentary Brief, 7, 7–8.
dc.relation.isbasedonSinger, A. (2013). What is the best way to argue against the profit-maximization principle? Business Ethics Journal Review, 1(12), 76–81. http://doi.org/10.12747/bejr2013.01.12
dc.relation.isbasedonSingh, A. S., & Masuku, B. (2014). Sampling techniques & determination of sample size in applied statistics research: An overview. International Journal of Economics, Commerce and Management, 2(11), 1–22.
dc.relation.isbasedonSmith, J. (2018). Efficiency and Ethically Responsible Management. Journal of Business Ethics, 150(3), 603–618. https://doi. org/10.1007/s10551-016-3175-x
dc.relation.isbasedonStanovcic, T., Bacovic, M., Pekovic, S., Jovanovic, J., & Savovic, I. (2016). The role of human resource practices on profits generated by the innovations: The role of top management support and regularity of employees meetings. International Journal for Quality Research, 10(4), 839–845. https://doi.org/10.18421/ IJQR10.04-13
dc.relation.isbasedonSvabova, L., & Durica, M. (2019). Being an outlier: A company non-prosperity sign? Equilibrium. Quarterly Journal of Economics and Economic Policy, 14(2), 359–375. https://doi.org/10.24136/eq.2019.017
dc.relation.isbasedonSu, Z. F., Peng, J. S., Shen, H., & Xiao, T. (2013a). Technological Capability, Marketing Capability, and Firm Performance in Turbulent Conditions. Management and Organization Review, 9(1), 115–137. http://dx.doi. org/10.1111/j.1740-8784.2011.00280.x
dc.relation.isbasedonSu, Z. F., Xie, E., Liu, H., & Sun, W. (2013b). Profiting from product innovation: The impact of legal, marketing, and technological capabilities in different environmental conditions. Marketing Letters, 24(3), 261–276. https://doi.org/10.1007/ s11002-012-9214-1
dc.relation.isbasedonToms, J. S. (2010). Calculating profit: A historical perspective on the development of capitalism. Accounting, Organizations and Society, 35(2), 205–221. https://doi. org/10.1016/j.aos.2009.06.002
dc.relation.isbasedonTrading Economy. (2019). Ease of Doing Business. Retrieved from https://tradingeconomics. com/country-list/ease-of-doing-business
dc.relation.isbasedonTrigos, F., & López, E. M. (2019). About tooling capacity for the vulcanising planning decision problem to improve strategic business profit. International Journal of Production Research, 1–12. https://doi.org/10.1080/00207 543.2019.1660820
dc.relation.isbasedonTuyls, R., & Pera, A. (2019). Innovative datadriven smart urban ecosystems: Environmental Sustainability, Governance Networks, and the Cognitive Internet of Things. Geopolitics, History, and International Relations, 11(1), 116–121. https://doi.org/10.22381/GHIR11120198
dc.relation.isbasedonVagner, L. (2016). Controlling as a competitiveness tool in the global market. In Globalization and Its Socio-economic Consequences: 16th International Scientific Conference, 5th–6th October 2016, Rajecke Teplice, Slovak Republic: Proceedings (pp. 2260–2266). Žilina: University of Žilina.
dc.relation.isbasedonVagner, L., & Zadnanova, S. (2019). Nonprofit organizations and their possibilities of measuring efficiency. In 8th International Scientific Symposium Economy of Eastern Croatia Vision and Growth. Osijek, Croatia (pp. 1159–1165). Osijek: University of Osijek.
dc.relation.isbasedonVranceanu, R. (2014). Corporate profit, entrepreneurship theory and business ethics. Business Ethics: A European Review, 23(1), 50–68. https://doi.org/10.1111/beer.12037
dc.relation.isbasedonWang, T., & Bansal, P. (2012). Social responsibility in new ventures: Profiting from a long-term orientation. Strategic Management Journal, 33(10), 1135–1153. https://doi. org/10.1002/smj.1962
dc.relation.isbasedonWarriyar, K. V. V., Abraham, B., & Variyath, A. M. (2016). Robustness of Some Portmanteau Correlation Tests in Financial Time Series. American Journal of Mathematical and Management Sciences, 35(1), 67–76. https://doi.org/10.1080/01966324.2015.1082451
dc.relation.isbasedonYazici, B., & Yolacan, S. (2007). A comparison of various tests of normality. Journal of Statistical Computation and Simulation, 77(2), 175–183. https://doi. Org/10.1080/10629360600678310
dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectBusiness financeen
dc.subjectchange-pointen
dc.subjectprofiten
dc.subjectuniformityen
dc.subjectVisegrad Fouren
dc.subject.classificationG30
dc.subject.classificationG32
dc.titleAlter Ego Only Four Times? The Case Study of Business Profits in the Visegrad Groupen
dc.typeArticleen
local.accessopen
local.citation.epage119
local.citation.spage101
local.facultyFaculty of Economics
local.filenameEM_3_2020_7
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue23
local.relation.volume3
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
EM_3_2020_07 (1).pdf
Size:
698.54 KB
Format:
Adobe Portable Document Format
Description:
článek
Download
Collections
Číslo 3