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doc. Ing.
Ph.D.
FBM, ÚF – Associate professor
+420 54114 3708Michal.Karas@vut.cz
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2024
REŽŇÁKOVÁ, M.; KARAS, M.; SRBOVÁ, P.; PĚTA, J.; MICHALÍKOVÁ, E. Performance of Family Businesses in the Specific Conditions of CEE Countries: The Case of the Czech Republic. Journal of Economics, 2024, vol. 72, no. 3, p. 169-186. ISSN: 0013-3035.Detail | WWW
SRBOVÁ, P.; KARAS, M.; REŽŇÁKOVÁ, M. What role the SEW factors play in family business distress? Czech evidence. FAMILY FIRMS: LEADING FOR IMPACT. Ifera Inc., 2024. ISBN: 979-12-210-6429-2.Detail
2023
KARAS, M.; REŽŇÁKOVÁ, M. A novel approach to estimating the debt capacity of European SMEs. Equilibrium, 2023, vol. 18, no. 2, p. 551-581. ISSN: 1689-765X.Detail | WWW | Full text in the Digital Library
BRYCHTA, K.; SOLILOVÁ, V.; IŠTOK, M.; MORAVEC, L.; REŽŇÁKOVÁ, M.; KARAS, M.; HOMOLA, D. SOUHRNNÁ VÝZKUMNÁ ZPRÁVA - Stanovení obvyklé ceny u finančních transakcí náhledem principu tržního odstupu (TL05000328). Brno: 2023. p. 1-123. Detail | WWW | Full text in the Digital Library
2022
KARAS, M. The Hazard Model for European SMEs: Combining Accounting and Macroeconomic Variables. Journal of Competitiveness, 2022, vol. 14, no. 3, p. 76-92. ISSN: 1804-171X.Detail | WWW | Full text in the Digital Library
Solilová, V., Režňáková, M., Karas, M., Ištok, M. Přístupy stanovení převodních cen u fi nančních transakcí a jejich využití v podmínkách České republiky. Praha: Komora daňových poradců ČR., 2022. p. 29-41. Detail
SRBOVÁ, P.; KARAS, M.; REŽŇÁKOVÁ, M. Value Creation in Private Family Businesses: Case of the Czech Republic. The Gears of Legacies. IFERA Inc., 2022. p. 104-104. ISBN: 979-12-210-1420-4.Detail
REŽŇÁKOVÁ, M.; BRYCHTA, K.; KARAS, M.; PETRŮ, N.; PĚTA, J.; SRBOVÁ, P.; TOMÁŠKOVÁ, A.; ŽIŽLAVSKÝ, O. Určování hodnoty rodinných podniků v procesu nástupnictví. společenské vědy. společenské vědy. Brno: VUTIUM, 2022. 177 p. ISBN: 978-80-214-6130-7.Detail
KARAS, M.; REŽŇÁKOVÁ, M.; SRBOVÁ, P. PREDICTING THE VALUE OF CZECH FAMILY BUSINESSES: WHAT FACTORS INFLUENCE VALUE CREATION?. Faculty of Economics | University of West Bohemia |Univerzitní 22 |306 14 Plzeň | Czech Republic tvp@fek.zcu.cz | tvp.zcu.cz 8th Annual International Scientific Conference Business Trends 2022. First. Plzeň: ZČU v Plzni, Fakulta ekonomická, 2022. ISBN: 978-80-261-1126-9.Detail | WWW
2021
KARAS, M.; REŽŇÁKOVÁ, M.; PĚTA, J.; AEVOAE, G.; DICU, R.; MARDIROS, D. Predicting Corporate Default and Mergers and Acquisitions Success. Brno: VUTIUM, 2021. 423 p. ISBN: 978-80-214-5937-3.Detail
KARAS, M.; REŽŇÁKOVÁ, M. The role of financial constraint factors in predicting SME default. Equilibrium, 2021, vol. 16, no. 4, p. 859-883. ISSN: 1689-765X.Detail | WWW | Full text in the Digital Library
SRBOVÁ, P.; REŽŇÁKOVÁ, M.; KARAS, M.; PĚTA, J. Do family businesses perform better than non-family businesses? The situation in Czech companies. Contemporary issues in economy. Poland: Economic Publishing Platform, 2021. p. 137-146. ISBN: 978-83-65605-38-2.Detail | WWW | Full text in the Digital Library
2020
KARAS, M.; REŽŇÁKOVÁ, M. The indirect verification of the going concern assumption by analysing the threat of bankruptcy. Management Journal of Contemporary Management Issuer, 2020, vol. 25, no. 2, p. 25-40. ISSN: 1331-0194.Detail | WWW | Full text in the Digital Library
REŽŇÁKOVÁ, M.; PĚTA, J.; KARAS, M. Prediction of Synergies in Mergers. Journal of Economics, 2020, vol. 68, no. 2, p. 168-187. ISSN: 0013-3035.Detail | WWW
KARAS, M.; REŽŇÁKOVÁ, M. Cash Flows Indicators in the Prediction of Financial Distress. Inzinerine Ekonomika-Engineering Economics, 2020, vol. 31, no. 5, p. 525-535. ISSN: 2029-5839.Detail | WWW | Full text in the Digital Library
BŘEČKOVÁ, P.; KARAS, M. Online technology and promotion tools in SMEs. Innovative Marketing, 2020, vol. 16, no. 3, p. 85-97. ISSN: 1816-6326.Detail | WWW | Full text in the Digital Library
2019
KARAS, M.; SRBOVÁ, P. Predicting bankruptcy in construction business: Traditional model validation and formulation of a new model. JOURNAL OF INTERNATIONAL STUDIES, 2019, vol. 12, no. 1, p. 283-296. ISSN: 2306-3483.Detail | WWW | Full text in the Digital Library
2018
KARAS, M.; REŽŇÁKOVÁ, M. BUILDING A BANKRUPTCY PREDICTION MODEL: COULD INFORMATION ABOUT PAST DEVELOPMENT INCREASE MODEL ACCURACY?. Polish Journal of Management Studies, 2018, vol. 17, no. 1, p. 116-130. ISSN: 2081-7452.Detail | WWW
2017
KARAS, M.; REŽŇÁKOVÁ, M. The potential of dynamic indicator in development of the bankruptcy prediction models: the case of construction companies. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2017, vol. 65, no. 2, p. 641-652. ISSN: 1211-8516.Detail | WWW | Full text in the Digital Library
KARAS, M.; REŽŇÁKOVÁ, M. Predicting the Bankruptcy of Construction Companies: A CART- Based Model. Engineering Economics, 2017, vol. 28, no. 2, p. 145-154. ISSN: 1392-2785.Detail | WWW | Full text in the Digital Library
KARAS, M.; REŽŇÁKOVÁ, M.; POKORNÝ, P. Predicting Bankruptcy of Agriculture Companies: Validating Selected Models. Polish Journal of Management Studies, 2017, vol. 15, no. 1, p. 110-120. ISSN: 2081-7452.Detail | WWW | Full text in the Digital Library
KARAS, M.; REŽŇÁKOVÁ, M. The stability of bankruptcy predictors in the construction and manufacturing industries at various times before bankruptcy. E a M: Ekonomie a Management, 2017, vol. 20, no. 2, p. 116-133. ISSN: 1212-3609.Detail | WWW | Full text in the Digital Library
REŽŇÁKOVÁ, M.; KARAS, M.; STRNADOVÁ, M. Non-financial factors of performance: The case of mechanical engineering companies in the Czech republic. Scientific Papers of the University of Pardubice, Series D, 2017, vol. 24, no. 40, p. 188-198. ISSN: 1804-8048.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Could the Coefficients Re-Estimation Solve the Industry or Time Specific Issues?. International Journal of Economics and Management Systems, 2017, vol. 2017, no. 2, p. 206-213. ISSN: 2367-8925.Detail | WWW | Full text in the Digital Library
2016
KARAS, M.; REŽŇÁKOVÁ, M. Bankruptcy Prediction: To what Degree does Past Development Count?. WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS, 2016, vol. 13, no. 1, p. 480-488. ISSN: 2224-2899.Detail | WWW
2015
STRNADOVÁ, M.; REŽŇÁKOVÁ, M.; KARAS, M. Impact of selected value drivers on the performance of companies in the manufacturing industry. In European Financial Systems 2015: Proceedings of the 12th International Scientific Conference. Brno: Masaryk University, 2015. p. 520-528. ISBN: 978-80-210-7962- 5.Detail | WWW
REŽŇÁKOVÁ, M.; KARAS, M. The Prediction Capabilities of Bankruptcy Models in a Different Environment: An example of the Altman Model under the Conditions in the Visegrad Group Countries. Journal of Economics, 2015, vol. 63, no. 6, p. 617-633. ISSN: 0013-3035.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Predicting bankruptcy under alternative conditions: the effect of a change in industry and time period on the accuracy of the model. In ICEM 2015. Procedia Social and Behavioral Sciences. Elsevier, 2015. p. 397-403. ISSN: 1877-0428.Detail | WWW | Full text in the Digital Library
ŽIŽLAVSKÝ, O.; KARAS, M. The Structure of R&D Expenditure: A Case Study from Czech Manufacturing Industry. In Exploring the Possibilities for Sustainable Future Growth in Business and Technology Management. Readings Book. Peniche: GBATA, 2015. p. 784-791. ISBN: 1-932917-11- X.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Are the bankruptcy predictors specific for a given time or branch? The evidence from the czech manufacturing and construction companies. In Proceedings of the 7th International Scientific Conference: FINANCE AND PERFORMANCE OF FIRMS IN SCIENCE, EDUCATION AND PRACTICE. Zlín, Česká republika: 2015. p. 571-583. ISBN: 978-80-7454-482- 8.Detail | WWW
REŽŇÁKOVÁ, M.; KARAS, M. Are the Financial Bankruptcy Predictors Branch’s Specific? The Evidence from the Czech Manufacturing and Agriculture Companies. In X. International Conference on Applied Business Research. Business, Business Finance. Madrid, Spain: Mendel University in Brno, 2015. p. 850-869. ISBN: 978-80-7509-379- 0.Detail
2014
KARAS, M.; REŽŇÁKOVÁ, M. To what degree is the accuracy of a bankruptcy prediction model affected by the environment? The case of the Baltic States and the Czech Republic. In Procedia Social and Behavioral Sciences. Procedia Social and Behavioral Sciences. Elsevier, 2014. p. 564-568. ISSN: 1877-0428.Detail | WWW | Full text in the Digital Library
KARAS, M.; REŽŇÁKOVÁ, M. Can the same indicators serve for the prediction of bankruptcy in a different environment?. In Managing and Modelling of Financial Risks 7th International Scientific Conference, PROCEEDINGS, (Part II.). 2014. p. 335-343. ISBN: 978-80-248-3631- 7.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Creating a new bankruptcy prediction model: The grey zone problem. In Proceedings of The 24th International Business Information Management Association Conference. 2014. p. 911-919. ISBN: 978-0-9860419-3- 8.Detail
STRNADOVÁ, M.; KARAS, M. The Effect of Ownership Structure on the Performance of Manufacturing Companies. In European Financial Systems 2014. Proceedings of the 11th International Scientific Conference. Brno: Masaryk University, 2014. p. 588-595. ISBN: 978-80-210-7153- 7.Detail | WWW
ŽIŽLAVSKÝ, O.; KARAS, M. The Relationship Between R&D Expenses and Performance: Evidence from European Manufacturing Enterprises. In 26th European Modeling and Simulation Symposium, EMSS 2014. Itálie: DIME UNIVERSITA DI GENOVA, 2014. p. 72-78. ISBN: 9788897999324.Detail
REŽŇÁKOVÁ, M.; KARAS, M. Bankruptcy Prediction Models: Can the prediction power of the models be improved by using dynamic indicators?. In Procedia Economics and Finance. Procedia Economics and Finance. Elsevier, 2014. p. 565-574. ISSN: 2212-5671.Detail | WWW | Full text in the Digital Library
KARAS, M.; REŽŇÁKOVÁ, M. A Parametric or Nonparametric Approach for Creating a new Bankruptcy Prediction Model: The Evidence from the Czech Republic. INTERNATIONAL JOURNAL of MATHEMATICAL MODELS AND METHODS IN APPLIED SCIENCES, 2014, vol. 8, no. 1, p. 214-223. ISSN: 1998-0140.Detail
REŽŇÁKOVÁ, M.; KARAS, M. Identifying Bankruptcy Prediction Factors in Various Environments: A Contribution to the Discussion on the Transferability of Bankruptcy Models. INTERNATIONAL JOURNAL of MATHEMATICAL MODELS AND METHODS IN APPLIED SCIENCES, 2014, vol. 8, no. 1, p. 69-74. ISSN: 1998-0140.Detail | WWW
KARAS, M.; REŽŇÁKOVÁ, M. An Analysis of the Robustness of Bankruptcy Prediction Models – Industrial Concerns in the Czech Republic in the Years 1999– 2013. In Proceeding of the 23rd IBIMA conference. IBIMA publishing, 2014. p. 988-997. ISBN: 978-0-9860419-2- 1.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Možnosti využití bankrotního modelu k měření úvěrového rizika podniku. In Hradecké ekonomické dny 2014, Ekonomický rozvoj a management regionů, Sborník recenzovaných příspěvků, Díl. 1. Hradec Králové: 2014. p. 435-442. ISBN: 978-80-7435-366-6.Detail
SMOLÍK, K.; KARAS, M.; REJNUŠ, O. How Macroecomic Factors Influence the Commodity Market in the Financialization Period: The Case of S & P GSCI Commodity Index. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2014, vol. 62, no. 6, p. 1417-1425. ISSN: 1211- 8516.Detail
2013
KARAS, M. Měření úvěrového rizika podniků zpracovatelského průmyslu v České republice. 2013.Detail
KARAS, M.; REŽŇÁKOVÁ, M. The Impact of Methodology on the Effectiveness of Bankruptcy Modeling. In Recent Advances in Economics and Business Administration: Proceedings of the 2013 International Conference on Economics and Business Adminstration (EBA 2013). 2013. p. 99-102. ISBN: 978-1-61804-198- 2.Detail
KARAS, M.; REŽŇÁKOVÁ, M.; BARTOŠ, V.; ZINECKER, M. Possibilities for the Application of the Altman Model within the Czech Republic. In Recent Reserches in Law Science and Finances: Proceedings of the 4th International conference on Finance, Accounting and Law (ICFA 13). Chania, Crete Island, Greece: 2013. p. 203-208. ISBN: 978-960-474-327-8.Detail
STRNADOVÁ, M.; KARAS, M. Identifikace faktorů ovlivňujících výkonnost podniku na bázi ROE v období 2003– 2012. TRENDY EKONOMIKY A MANAGEMENTU, 2013, vol. 7, no. 17, p. 169-178. ISSN: 1802- 8527.Detail
SMOLÍK, K.; KARAS, M.; BOČEK, A. Soudobé integrační tendence finančních a komoditních trhů. TRENDY EKONOMIKY A MANAGEMENTU, 2013, vol. 7, no. 16, p. 1-9. ISSN: 1802- 8527.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Identification of financial signs of bankruptcy: A case of industrial enterprises in the Czech Republic. In Proceedings of the 6th International Scientific Conference: Finance and the performance of firms in science, education, and practise. Zlín: 2013. p. 324-335. ISBN: 978-80-7454-246- 6.Detail
STRNADOVÁ, M.; KARAS, M.; REŽŇÁKOVÁ, M. Value drivers podniků zpracovatelského průmyslu České republiky v letech 2007– 2011. TRENDY EKONOMIKY A MANAGEMENTU, 2013, vol. VII, no. 13, p. 91-99. ISSN: 1802- 8527.Detail
KARAS, M.; REŽŇÁKOVÁ, M. The Distributional Properties of Financial Ratios: The Case of Czech Bankruptcy Data. TRENDY EKONOMIKY A MANAGEMENTU, 2013, vol. VII, no. 13, p. 56-67. ISSN: 1802- 8527.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Bankruptcy Prediction Model of Industrial Enterprises in the Czech Republic. INTERNATIONAL JOURNAL of MATHEMATICAL MODELS AND METHODS IN APPLIED SCIENCES, 2013, vol. 7, no. 5, p. 519-531. ISSN: 1998-0140.Detail
2012
KARAS, M. Tax rate to maximize the revenue: Laffer curve for the Czech Republic. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2012, vol. LX, no. 4, p. 189-194. ISSN: 1211-8516.Detail | WWW | Full text in the Digital Library
KARAS, M.; REŽŇÁKOVÁ, M. Predicting bankruptcy in Czech Republic: The role of data transformation. In International Conference "Trends in Economics and Management for the 21st Century". Brno: 2012. p. 1-9. ISBN: 978-80-214-4581- 9.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Financial Ratios as Bankruptcy Predictors: The Czech Republic Case. In Advances in Finance & Accounting: Proceeding of the 1st WSEAS International Conference on Finance, Accounting and Auditing (FAA 12). WSEAS Press, 2012. p. 86-91. ISBN: 978-1-61804-124- 1.Detail
REŽŇÁKOVÁ, M.; KARAS, M. The Effects of a Change in the Environment on Business Valuation Using the Income Capitalization Approach. Equilibrium, 2012, vol. 7, no. 2, p. 119-137. ISSN: 1689-765X.Detail | WWW | Full text in the Digital Library
REŽŇÁKOVÁ, M.; STRNADOVÁ, M.; KARAS, M. Identification of Industrial-Enterprise- Value Drivers in the Czech Republic. In Congress Proceedings. Ostrava: 2012. p. 38-38. ISBN: 978-80-87294-33- 8.Detail
2011
KARAS, M. Odhad Lafferovy křivky pro českou ekonomiku. In Znalosti pro tržní praxi 2011 Nová generace pracovníků (Generace Y). Olomouc: Societas Scientiarum Olomuncensis II., 2011. p. 451-463. ISBN: 978-80-87533-02- 4.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Statistical methods of sales forecasting. In Modern Problems Economy, Business and Management: Theory and Practice. Iževsk, Rusko: 2011. p. 29-35. ISBN: 978-5-7526-0520- 8.Detail
KARAS, M.; REŽŇÁKOVÁ, M. The role of strategic analysis in the determining the company' s value using the income capitalization approach. In Contemporary Issues in Economy: After the crisis?. Toruń, Polsko: 2011. p. 960-972. ISBN: 978-83-62049-08- 0.Detail
KARAS, M.; REŽŇÁKOVÁ, M. Rizika prognózy tržeb na základě historických dat a jejich důsledky pro vypočtenou hodnotu podniku. TRENDY EKONOMIKY A MANAGEMENTU, 2011, vol. 5, no. 9, p. 9-23. ISSN: 1802- 8527.Detail
2010
KARAS, M. Pokročilé metody měření finančního rizika podniku. In PEF net 2010, Evropská vědecká konference posluchačů doktorského studia. Brno: Mendelova univerzita v Brně, 2010. p. 39-45. ISBN: 978-80-7375-450- 1.Detail
KARAS, M. Vliv aplikace Mezinárodních standardu účetního výkaznictví na obraz o finanční pozici a výkonnosti podniku. In International workshop for PhD students. Brno: Fakulta podnikatelská, 2010. p. 85-91. ISBN: 978-80-214-4194- 1.Detail
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