The dissertation thesis analyzes the debt burden on the prosperity of enterprise that operate in the territory of the Czech Republic, where the prosperity of the companies is expressed in equity capital profitability. The main aim is the empirical validation of the conclusions of financial leverage applied to the specific economic conditions of enterprises in the Czech Republic. The dissertation thesis is focused on the issue of the financial leverage on enterprises. First, the relation of return on equity and debt was evaluated Followed by an analysis of the relation of the debt ratio and a dynamic degree of financial leverage. Also a static degree of financial leverage with increasing debt was quantified. The operational objective was to assess a methodological diversity of quantification of static and dynamic model degrees of financial leverages. The validity of conclusions on the degree of financial leverage was assessed on the basic of the model simulating the impact of debt financing on earnings per share while changing the output (i.e., earnings before interest and taxes). The variance analysis of the return on equity indicator was performed using functional methods. The result was to quantify the effects of partial analytical indicators to the return on equity, the top-level indicator analyzed, mostly the influence of the dynamic degree of financial leverage indicators as a casual factor.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:126783 |
| Date | January 2012 |
| Creators | VEJSADOVÁ DRYJOVÁ, Marie |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/doctoralThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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