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- ItemCost of Peace Accounting and National Security in Nigeria: Does it Really Matter?(Vysoké učení technické v Brně, Fakulta podnikatelská, 2016-12) Edesiri, Okoro Godsday; Amaechi, Egbunike P.The cost of ensuring national security is very high, but measuring this cost has received little attention. One way of recording and ascertaining the financial resources expended on national security is via “Peace Accounting. Peace Accounting is an innovative idea that is taking a firm root in Nigeria and the world over. Peace accounting deals with ascertaining and reporting the financial resources accompanying domestic violence such as insecurity, political violence, insurgency, militancy, economic predicament, corruption and all other costs associated with national security. However, this paper gauged the costs of peace accounting and its implication for national security in Nigeria. In a bid to do this, secondary data were obtained from the Central Bank of Nigeria Statistical Bulletin and the International Monetary Fund Cross Country Macroeconomic Statistics from 1996-2015. Ordinary Least Square estimation technique was employed in analyzing the data and analysis performed via SPSS. The study found that expenditure on internal security, cost of peace keeping and gross fixed capital formation are dynamics of peace accounting. Furthermore, cost of peace keeping is statistically significant except that expenditure on internal security and gross fixed capital formation were statistically flawed. Expenditure on internal security has negative impact on GPI. On the basis of the above, we recommend among others that countries like Nigeria faced with security challenges should engage professionals/experts that can help develop peace accounting models aimed at measuring the cost of peace. Also, special attention should be paid to expenditure on internal security since it has negative effect on GPI.
- ItemDoes Book Values and Earnings Affect Equity Values of Corporate Entities in Nigeria?(Vysoké učení technické v Brně, Fakulta podnikatelská, 2016-12) Jeroh, EdirinIn this study, we appraised the effect which book values and earnings would have on equity values of quoted corporate entities in Nigeria. In view of this, we obtained secondary data from the published reports of 105 firms selected for this study. The study period was 10 years (2005 – 2014). The regression technique was employed to analyse the data sourced from the annual accounts of sampled entities. Additionally, the Breusch-Pagan/ Cook-Weisberg Test was employed along with the VIF Test to verify whether the sourced data were normally distributed or whether there was presence of multicollinearity among the explanatory variables. Results from our analysis revealed inter alia, that book value per share and earnings jointly had significant and positive effect on equity values of Nigerian quoted firms. Given the level of significance of earnings in attempting to ascertain equity values of Nigerian firms, it was thus recommend that regulatory bodies like the Financial Reporting Council of Nigeria among others should develop enforceable strategies and sanctions that would discourage and eliminate any form of earnings manipulation that may distort the information reported in the financial statements of quoted corporate entities in Nigeria.
- ItemThe Research of Stakeholder Power Impact on Project Implementation(Vysoké učení technické v Brně, Fakulta podnikatelská, 2016-12) Biskupek, ArturPurpose of the article: The article show summarized information about stakeholders and their role in project implementation based on literature review. The second part of the article is dedicated for the research about stakeholder influence on project implementation. The only condition to participate in the survey was managing projects, no matter if the company position name was project manager, manager of projects, project coordinator, project specialist, etc. Although the respondents are employed in the area of south Poland, they implement projects all over Poland. The research tool was a questionnaire which was sent by e-mail to the respondents, after earlier information contact which was executed by a phone call or via e-mail. The whole research began with a pilot study. The aim of this stage was checking the structure of the questionnaire and excluding incomprehensible questions. 90 project managers from the above mentioned research area were invited to join the project. From the 90 invited people 62 sent back a completed questionnaire (the success rating was 68,8%) by e-mail. The questionnaire was made by cafeteria questions and right questions. Methodology/methods: The research was done by a questionnaire with twenty two question, which was divided into three parts. The first part was the imprint, which consisted of three questions. The second part consisted of two questions, which concerned the way of defining the word ‘stakeholder’. The third part concerned the topic of the research and consisted of seventeen questions. The survey has been made among project managers who are working in companies located on the territory of south Poland. Scientific aim: The aim of the article is presenting the results of the research which was done, to show the research results of project stakeholder influence on the project (without dividing stakeholders into groups) implementation. Findings: The results received from the survey in the process of analysis and interpretation allow to put forward a thesis that stakeholders as a whole group (without using any division) are significant for the implementation of the whole project. Their impact is so important that it is possible to tell that they decide also about the project success or failure, and it is necessary to manage them not only in the planning phase by doing recognition of them, but also in the realisation phase (by estimating their impact and business which they have in project implementation) and project closing phase. Conclusions: The respondents show that stakeholders affect every area in large extent or very big extent. The fact has been proved in table 1 which shows the most frequently chosen answers by responders. However, by conducted analysis by the standard deviation it is possible to see a large dispersion of the results. It should result in deepening the research. Keywords: project management, stakeholder, project stakeholder, research, respondends, servey JEL Classification: M15, M19
- ItemSuccess of Family Company: Critical Evidence from the United States(Vysoké učení technické v Brně, Fakulta podnikatelská, 2016-12) Petlina, AnastasiaPurpose of the article The purpose of the paper is to define the point of family company’s success. The object of research is family business as an economical phenomenon. There is a double subject of this study: firstly, to find out the main resources, from which information about successful companies can be detected and, secondly, to analyze one big family company as case study for identification its key success factors. Methodology/methods The article was prepared on the basis of general theoretical scientific methods, in particular analysis, synthesis, analogy, comparison, generalizations, deduction and methods of expert estimates. In the first phase secondary research of scientific literature and electronic resources about the paper topic was conducted. On the base of that result, the primary research was conduct, which is based on analysis of family company E. & J. Gallo Winery. Based on the received information, the key success factors were identified. The sources of the research are internet web-pages of the company, articles about company in famous Czech business magazines and scientific journals form Emerald database, reports of company and financial data from Amadeus database and The Global Family Business Index. Scientific aim The aim of scientific research is to improve the understanding of family company’s success from the perspective of difficulties faced by family company. Findings The results of this study allowed the finding of a main point for the family company’s success based on review of key sources about successful family companies. In addition, activity of E. & J. Gallo Winery was analyzed as the case study for critical evidence that phenomenon. Conclusions This study has contributed to the theoretical body of family business research providing an important first step to gaining insights into the family company’s success and its key factors which influence effective functioning of family company.
- ItemDo they Compete Differently? Strategies of MNEs and Domestic Companies in the Environment of the Czech Republic(Vysoké učení technické v Brně, Fakulta podnikatelská, 2016-12) Žáková Talpová, SylvaPurpose of the article: The Czech Republic is still considered an emerging economy and MNEs are important players in most of its markets. Hence, knowledge of their strategies is essential and valuable not only for companies already present on the Czech market, but also for those who intend to enter the Czech market. Methodology/methods: The analysis has centred on a sample of 155 foreign multinational and 118 Czech companies. Using the empirical data, a logistic regression model was subsequently employed to determine whether the strategies chosen by the firms are related to any of the environmental variables. I employed ANOVA and linear regression model to determine whether certain strategy choices are related to higher company performance for MNEs and DCs. Scientific aim: This study aims to examine the strategy-environment configuration of multinational and domestic companies in the Czech Republic and to ascertain which strategy is the most advantageous. Findings: When the environment is complex, MNEs tend to use prospector strategy to deal with such environment in the Czech Republic. For DCs, it is analyzer strategy. The findings also imply that in an emerging economy, an analyzer strategy for DCs and a prospector strategy for MNEs fit with dynamic and hostile environment, if the aim of these companies is to increase performance. In addition, a prospector strategy is related to higher performance for DCs. Conclusions: The results imply that the adoption of a heterogeneous strategy-environment configuration by MNE and domestic companies in smaller transition economy leads to better performance for both of them. This study offers a different insight into the strategic behaviour of companies and extends the existing knowledge by adding the ownership variable into the strategy-environment relationship. Output of this study can serve as the basis for decision-making in companies already active in the Czech marketplace and, particularly, as important entry information for companies considering entering the market.