The Relationship Between Business Environment and Performance of the Czech Economy

@inproceedings{32060,
   author = {Chmielová, Petra},
   address = {Karviná},
   booktitle = {Proceedings of 11th International Scientific Conference Karvina Ph.D. Conference on Business and Economics},
   keywords = {activity indicators; gross domestic product; indebtedness indicators; liquidity indicators; microenvironment; profitability indicators},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Karviná},
   isbn = {978-80-7510-322-2},
   pages = {23-32},
   publisher = {SU OPF Karviná},
   title = {The Relationship Between Business Environment and Performance of the Czech Economy},
   year = {2018}
}

TY  - JOUR
ID  - 32060
AU  - Chmielová, Petra
PY  - 2018
TI  - The Relationship Between Business Environment and Performance of the Czech Economy
PB  - SU OPF Karviná
CY  - Karviná
SN  - 9788075103222
KW  - activity indicators
KW  - gross domestic product
KW  - indebtedness indicators
KW  - liquidity indicators
KW  - microenvironment
KW  - profitability indicators
N2  - The aim of the article is to find out the relationship between the gross domestic product representing the Czech economy and the micro-environment, which is characterized by indicators of liquidity, profitability, activity and indebtedness for the period 2006-2016. In order to meet the objective of the article, variables such as gross domestic product, instantaneous, ready and current liquidity, return on equity and equity, return on inventories, receivables and payables, the ratio of foreign capital to equity, long-term and short-term bank loans. All data was drawn from the Czech Statistical Office and the AMADEUS database. For the purpose of this article, a total of 7,087 medium-sized companies were generated from the AMADEUS database. The correlation analysis and the Granger causality test were used to determine the relationship between the Czech economy and the micro-environment. The results of the correlation analysis showed a very weak correlation between gross domestic product and prompt liquidity, current liquidity, total capital and long-term bank loans. The Granger causality test demonstrated the effect of the existence of a two-way relationship between gross domestic product and long-term bank loans. At the same time, the effect of the unilateral relationship between the gross domestic product and the time of receivables turnover, the turnaround time, and the liquidity indicator were demonstrated.
ER  - 

CHMIELOVÁ, Petra. The Relationship Between Business Environment and Performance of the Czech Economy. Online. In \textit{Proceedings of 11th International Scientific Conference Karvina Ph.D. Conference on Business and Economics}. Karviná: SU OPF Karviná, 2018, s.~23-32. ISBN~978-80-7510-322-2.