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The budgeting processes of Czech companies: The role of the ownership structure and foreign capital

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dc.title The budgeting processes of Czech companies: The role of the ownership structure and foreign capital en
dc.contributor.author Dokulil, Jiří
dc.contributor.author Popesko, Boris
dc.contributor.author Dvorský, Ján
dc.relation.ispartof Oeconomia Copernicana
dc.identifier.issn 2083-1277 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2020
utb.relation.volume 11
utb.relation.issue 4
dc.citation.spage 779
dc.citation.epage 798
dc.type article
dc.language.iso en
dc.publisher Nicolaus Copernicus University
dc.identifier.doi 10.24136/OC.2020.031
dc.relation.uri http://economic-research.pl/Journals/index.php/oc/article/view/1852
dc.subject budgeting en
dc.subject planning en
dc.subject budgeting process en
dc.subject impact of foreign capital en
dc.description.abstract Research background: The study investigates the initial phase of budgeting process conducted in corporations. The basic concept correlates with findings in scientific literature that describe budgeting as an inefficient tool, burdened by considerable regulation in the preparation and compilation stages. As a consequence, the majority of academics and practitioners have concluded that producing a budget is merely a formality that minimizes wrinkles on the faces of their initiators, while reaping debatable benefits for managerial control. Purpose of the article: This paper compares data from the literature with the actual budgetary practices of companies operating in the Czech Republic. The attention was paid to the detailed aspects of the budgeting process, factors affecting the time it takes to prepare a budget, and the impact of ownership structure, especially the role of foreign ownership and foreign capital, on the level of decentralization in the budgeting process. Methods: The authors examined these topics through a questionnaire completed by 136 respondents, primarily industrial companies based in the country. The subsequent hypotheses were assessed via application of the Z-test. Findings & Value added: The results presented show that the budgeting practices of the Czech firms are not only influenced by traditional factors (e.g. the size of the company and its given economic sector), but also certain other aspects. Essential facets comprise the ownership structure and the share of foreign capital involved, the latter affecting the extent of autonomy of the business as to the budgetary process. This submitted paper can extend the current theory with new findings on the specific nature of budgeting in post-socialist countries with an open economy and the significant influx of foreign capital. © 2021 Nicolaus Copernicus University. All rights reserved. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1010217
utb.identifier.obdid 43881452
utb.identifier.scopus 2-s2.0-85100014842
utb.identifier.wok 000608491800008
utb.source j-scopus
dc.date.accessioned 2021-02-11T09:32:59Z
dc.date.available 2021-02-11T09:32:59Z
dc.description.sponsorship Czech Science FoundationGrant Agency of the Czech Republic [GA 17-13518S/P403]; Internal Grant Agency of Tomas Bata University in Zlin [IGA/FaME/2020/010]
dc.rights Attribution 4.0 International
dc.rights.uri http://creativecommons.org/licenses/by/4.0/
dc.rights.access openAccess
utb.contributor.internalauthor Dokulil, Jiří
utb.contributor.internalauthor Popesko, Boris
utb.contributor.internalauthor Dvorský, Ján
utb.fulltext.affiliation Jiří Dokulil, Boris Popesko, Ján Dvorský Tomas Bata University in Zlin, Czech Republic orcid.org/0000-0003-3990-1781 Tomas Bata University in Zlin, Czech Republic orcid.org/0000-0002-3590-7070 Tomas Bata University in Zlin, Czech Republic orcid.org/0000-0002-6078-2636 Contact to corresponding author: dokulil@utb.cz; Tomas Bata University in Zlin, Faculty of Management and Economics, Mostní 5139, Zlín, 760 01
utb.fulltext.dates Received: 29.04.2020 Revised: 26.08.2020 Accepted: 17.09.2020 Published online: 25.12.2020
utb.fulltext.sponsorship This paper was supported by a project, ref. GA 17-13518S/P403, entitled “Determinants of budgeting and performance measurement systems, and the design and impact of these systems on organizational behaviour and organizational performance” registered at the Czech Science Foundation, as well as by the Internal Grant Agency of Tomas Bata University in Zlin under a project, ref. IGA/FaME/2020/010.
utb.wos.affiliation [Dokulil, Jiri; Popesko, Boris; Dvorsky, Jan] Tomas Bata Univ Zlin, Zlin, Czech Republic
utb.scopus.affiliation Tomas Bata University, Zlin, Czech Republic
utb.fulltext.projects GA 17-13518S/P403
utb.fulltext.projects IGA/FaME/2020/010
utb.fulltext.faculty Faculty of Management and Economics
utb.fulltext.faculty Faculty of Management and Economics
utb.fulltext.faculty Faculty of Management and Economics
utb.identifier.jel M41
utb.identifier.jel M19
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