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THE EVALUATION OF COMPANY PERFORMANCE IN THE CZECH REPUBLIC
Abstract
The paper deals with the methods used by Czech companies for the evaluation of company performance. The evaluation of company performance remains a crucial topic for company’s management. The development of business environment is influenced by globalization, which increases competition between companies around the world. This creates new obstacles as well as opportunities in the area of measuring company performance. Companies are constantly forced to increase their performance to retain their market shares and secure their future existence. Therefore, companies are looking for new measures that help to increase their financial performance, which should satisfy individual interests of various stakeholders. Based on these requirements the so called complex strategic models, which are used for measuring and managing company performance, have been introduced. These models are using both financial and non-financial measures. Based on the literature review the article, firstly, selects the relevant measures that should be used for measuring company performance. This reflects the reasons why company performance should be measured. Subsequently, based on the results of a survey the situation in 159 Czech limited liability companies and joint-stock companies is analysed. The research has shown that the legal form of a company influences especially the use of complex strategic models that are used for measuring and managing company performance. The same reasoning can be used when analysing the benefits arising from using these models. When studying the relation between the the legal form of a company and the usage of value criteria and non-financial measures, no direct dependence have been found.
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References14
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