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| rdfs:seeAlso
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| Description
| - Managers carry out the demand of the owners to maximise the rentability of invested capital with regards to the taken risk. The tool that evaluates the suitability to indebt in order to reach a higher rentability is the equity multiplier indicator. An analysis of the multiplier was carried out on 10 years of data from 456 Czech companies. Based on the data from these companies the infl uence of two components of the multiplier, which characterise the infl uence of indebtedness on the return on equity, was analysed. These components are “fi nancial leverage” and “interest burden”, these having an antagonistic eff ect. The low variability of the equity multiplier is apparent in the companies of the administrative and support service sector and it is also relatively low in the companies of the agriculture, forestry and fi shing sector; on the contrary, in for example the professional, scientifi c and technical activities and the sector of water, sewage and waste there are companies with higher variability of the equity multiplier. The paper identifi es companies (in view of their sector specialization) inclining to a larger utility of debts to increase the return on equity. The largest equity is reached in companies of the construction sector; the lowest eff ect of the multiplier is to be found in companies of the agriculture sector. The resulting value of the multiplier is to a large extent determined by the fi nancial leverage indicator, to a lower extent and at the same time negatively by the interest burden indicator.
- Managers carry out the demand of the owners to maximise the rentability of invested capital with regards to the taken risk. The tool that evaluates the suitability to indebt in order to reach a higher rentability is the equity multiplier indicator. An analysis of the multiplier was carried out on 10 years of data from 456 Czech companies. Based on the data from these companies the infl uence of two components of the multiplier, which characterise the infl uence of indebtedness on the return on equity, was analysed. These components are “fi nancial leverage” and “interest burden”, these having an antagonistic eff ect. The low variability of the equity multiplier is apparent in the companies of the administrative and support service sector and it is also relatively low in the companies of the agriculture, forestry and fi shing sector; on the contrary, in for example the professional, scientifi c and technical activities and the sector of water, sewage and waste there are companies with higher variability of the equity multiplier. The paper identifi es companies (in view of their sector specialization) inclining to a larger utility of debts to increase the return on equity. The largest equity is reached in companies of the construction sector; the lowest eff ect of the multiplier is to be found in companies of the agriculture sector. The resulting value of the multiplier is to a large extent determined by the fi nancial leverage indicator, to a lower extent and at the same time negatively by the interest burden indicator. (en)
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| Title
| - Effect of the equity multiplier indicator in companies according to sectors
- Effect of the equity multiplier indicator in companies according to sectors (en)
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| skos:prefLabel
| - Effect of the equity multiplier indicator in companies according to sectors
- Effect of the equity multiplier indicator in companies according to sectors (en)
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| skos:notation
| - RIV/71226401:_____/13:#0000060!RIV14-MSM-71226401
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| http://linked.open...avai/riv/aktivita
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| http://linked.open...avai/riv/aktivity
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| http://linked.open...iv/cisloPeriodika
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| http://linked.open...vai/riv/dodaniDat
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| http://linked.open...aciTvurceVysledku
| |
| http://linked.open.../riv/druhVysledku
| |
| http://linked.open...iv/duvernostUdaju
| |
| http://linked.open...titaPredkladatele
| |
| http://linked.open...dnocenehoVysledku
| |
| http://linked.open...ai/riv/idVysledku
| - RIV/71226401:_____/13:#0000060
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| http://linked.open...riv/jazykVysledku
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| http://linked.open.../riv/klicovaSlova
| - indebtedness; financial leverage; equity multiplier; ROE (en)
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| http://linked.open.../riv/klicoveSlovo
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| http://linked.open...odStatuVydavatele
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| http://linked.open...ontrolniKodProRIV
| |
| http://linked.open...i/riv/nazevZdroje
| - Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
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| http://linked.open...in/vavai/riv/obor
| |
| http://linked.open...ichTvurcuVysledku
| |
| http://linked.open...cetTvurcuVysledku
| |
| http://linked.open...UplatneniVysledku
| |
| http://linked.open...v/svazekPeriodika
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| http://linked.open...iv/tvurceVysledku
| - Lízalová, Lenka
- Kozáková, Petra
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| issn
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| number of pages
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