Analysis of the Economic Situation of Energy Companies in Central and Eastern Europe

Abstract

Nowadays our everyday life is unimaginable without energy, because all the sectors are using different forms of energy. In our article we decided to analyse the following question: what is the current economic status and situation of the energy companies in Central and Eastern Europe? We prepared our primary research by the use of a standard fixed-effect panel regression model to analyse the capital structure of the energy industry companies. The capital structure regression gave similar results in terms of parameter sign, while the firm size, profitability (ROA) and liquidity ratio have significant coefficients in all cases from Poland, Czechia, Slovakia, Romania, and Hungary. Asset structure denoted the fixed assets over total assets. According to the estimates, larger companies have higher share of leverage and may have easier access to external financing sources. The profitability of the firms (captured by ROA) and leverage had a negative relationship, thus profitable firms were less likely to rely on external finance.

Pengaruh Struktur Aset, Profitabilitas, Biaya Agensi, Inovasi dan Teknologi, Ukuran Perusahaan terhadap Struktur Modal : Bukti Dari Sektor Teknologi Indonesia.

“…Pengukuran yang dipilih oleh peneliti yaitu Debt to Total Aset Ratio (DAR) dikarenakan pengukuran ini menggunakan aktiva sebagai perbandingan dari hutang perusahaan sehingga peneliti dapat menganalisis bagaimana kemampuan perusahaan dalam mengelola modalnya. Struktur aset diukur menggunakan aset tetap terhadap total aset (Rákos et al, 2022). Profitabilitas diukur mengunakan Laba sebelum pajak terhadap total ekuitas (Kafidipe et al, 2021) peneliti menggunakan pengukuran Return on Equity (ROE) rasio profitabilitas karena pengukuran ini menunjukan ke efektifan manajemen dalam menghasilkan laba dengan menggunakan ekuitasnya.…”

Examination of the Hungarian Electricity Industry Structure with Special Regard to Renewables

“…In contrast, Poland, Hungary, and Slovakia had the lowest use of renewable energy [18]. In the European Union, renewable energy sources mostly replaced nuclear energy, while in Central and Eastern Europe, renewable energy sources replaced coal [44]. For more than two decades, the EU has been a pioneer in the spread of renewable energies in the world.…”

Evaluating the Impact of Renewable Energy Policy Instruments on Capacity Expansion: Insights from the Visegrad Group Countries

“…For example, the European Union aspires to generate 40% of its electricity from renewable sources by 2040 (IRENA, 2023). The V4 countries have set the following targets: the Czech Republic aims to generate 25% of its electricity from renewable sources by 2025; Hungary has a goal of reaching 33% by 2020; Poland seeks to attain 32% of its energy consumption from renewable sources by 2025, and Slovakia aims for 30% of its electricity generation to be from renewables by 2030 (IRENA, 2023;Rákos et al, 2022). Achieving these objectives will be a formidable task, especially if the current suite of renewable energy policy tools and their impact on the expansion of renewable energy are not comprehensively examined (Godawska and Wyrobek, 2021;Kacperska et al, 2021).…”