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FICBAUER, D. REŽŇÁKOVÁ, M.
Original Title
Holding Company and its Performance
Type
journal article in Scopus
Language
English
Original Abstract
Research projects on the performance of companies search for the relationships between the methods of managing a company and the results. This paper presents a research on holding companies. The aim is to analyse the reasons for and purposes of holding companies being established and the advantages they may bring to the owners trying to find out whether the level of association between the companies influences their performance. The research was carried out in two stages. First a questionnaire enquiry was made with interviews and, subsequently, financial ratios were quantified and their correlation investigated with the extent of efficient cash flow management. The correlation was expressed by Spearman's rank coefficient. The benefits of creating a holding company were mostly found in the owners' investment risk diversification, reduction of the capital invested, and improved negotiating position of a holding company. Also, a correlation was determined between the method of cash flow management and financing strategy (measured by net working capital - the value of Spearman's coefficient is 0,761849 in average and by ratio debt to assets - the value of Spearman's coefficient is 0,813525 in average), liquidity of companies (measured by cash liquidity the value of Spearman's coefficient is -0,800436 in average) and performance (measured by return on assets - the value of Spearman's coefficient is 0,474 in average).
Keywords
holding company, reasons for creating a holding company, diversification of business risk, performance of holding companies, net working capital, efficient cash management, indebtedness
Authors
FICBAUER, D.; REŽŇÁKOVÁ, M.
RIV year
2014
Released
23. 5. 2014
Publisher
Mendel University Press
Location
ČR
ISBN
1211-8516
Periodical
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
Year of study
62
Number
2
State
Czech Republic
Pages from
329
Pages to
337
Pages count
10
URL
https://acta.mendelu.cz/62/2/0329/
Full text in the Digital Library
http://hdl.handle.net/11012/70153
BibTex
@article{BUT107291, author="David {Ficbauer} and Mária {Režňáková}", title="Holding Company and its Performance", journal="Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis", year="2014", volume="62", number="2", pages="329--337", doi="10.11118/actaun201462020329", issn="1211-8516", url="https://acta.mendelu.cz/62/2/0329/" }