No abstract

The financial structure of enterprises is constantly a subject of research of many academics. Despite the fact that many scientific studies deal with this area of financial management, the research is mostly focused on industrial companies. In our opinion, there is a wide scope for research into the segment of agricultural enterprises and their financial structure, as well. The aim of the paper is, therefore, to analyse the direction and intensity of action of the selected internal corporate factors and external factors of the macro-environment on the financial structure of Czech and Slovak agricultural enterprises and to identify differences in the action of these factors between the Czech and Slovak companies. The methods of multiple regression and correlation analysis have been used as the main research methods. The achieved results pointed at the fact that in addition to the internal corporate factors, the external factors of the macro-environment were also statistically highly significant for certain groups of agricultural enterprises. The paper also points to some differences in the direction and intensity of action of the chosen factors on the examined level of debt – the total indebtedness and the credit indebtedness of the studied agricultural enterprises.

The aim of this paper is to evaluate the issue of tax incentives in the Slovak Republic. Characteristics of particular types of the tax incentives used in tax practice and impact of tax incentives on the income tax used in Slovakia were analysed. All approval processes and terms of taking incentives were solved through the model casa study. Based on the analysis of primary and secondary sources and practical experiences, it was elaborated a SWOT analysis of the strengths and weaknesses of fiscal incentives in Slovakia. Keywords: Tax incentives, Slovak Republic, income tax

The financial structure of enterprises is influenced by many factors. The aim of this paper is to analyze, evaluate and assess the effect of selected internal corporate factors and external macro-environment factors on the financial structure of enterprises. All the studied enterprises were operating in the Manufacture of machinery and equipment industry. We have also analyzed whether there were any differences in the action of these factors between enterprises operating in various countries - Slovakia and Czech Republic (i.e. what was the impact of the environment on the corporate financial structure). The analysis has been done for the years 2009 - 2014. In addition to the standard scientific methods, the methods of multiple regression and correlation analysis have been used as well. The research results pointed to the fact that although the influence of some macro-environment factors has been proved, that were the internal corporate factors which had dominant position in shaping the financial structure of Slovak and Czech enterprises (concerning the Manufacture of machinery and equipment industry). © 2016 The Authors. Published by Elsevier B.V. Peer-review under responsibility of Academic World Research and Education Center. Keywords: Financial structure; internal corporate factors; external factors of macroenvironment.

Price gaps in assets pricing are relatively rare. Gaps arise at the moment when the open price of a new period opens significantly lower or higher than the close price of the previous period. The aim of this paper is to find out how often gaps are created in the prices of a selected underlying asset and how they can be used for improving the corporate financial situation. The object of our examination was a soybeans oil commodity traded on the e-CBOT futures market while the subject of the research were the price gaps themselves, the frequency of their occurrence and the likelihood of their closing. Data were analyzed over a period of 30 years. The fact that it is more likely than unlikely that the price will return and close the gap has been confirmed. The larger the price gap was, the longer it was necessary to wait for it to close. However, as for trading, it was also possible to take advantage of the low probability that the price gap would be closed - to set up a suitable stop loss order.