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EN
Financial efficiency is one of the basic categories used to describe status, functioning and development opportunities for various types of institutions. Essentia of financial efficiency, content and tools evolve constantly. The same goes for agriculture. Although this sector still observes domination of classical measurements and accounting indicators, describing past accomplishments, not linked to market appraisal, still gradually new concepts arise, and they are better suited to contemporary conditions of farming as well as to the goals and expectations of farmers themselves. The above induces implementation of financial efficiency measurement patterns based on economical profit and cash flows. Such patterns feature reference to the process of value production for owners of farms, thus treating the latter as financial investments and subjects of investment decisions.
EN
The financial efficiency of the Czech companies in the period 1996 - 2005, measured by return on capital and revenues did not develop very favourably until the year 2000 when the things changed to the favourable development. This article examines the factors that influenced this development and indicates the ways pointing to improvement. The analyses showed that substantial share on a creation of economic value added in the average Czech industrial company has macro-economic policy, launched in the areas of the price of loan capital and of the legal entity income tax. The accelerator of the growth of financial efficiency of the enterprises will be the internal factors disregarded in this analysis, that include the new products and technologies, which are conductive to decrease the share of the costs on revenues.
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