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Financial Performance of Czech Subsidiaries of the EU-Listed Companies

In: The Impact of Globalization on International Finance and Accounting

Author

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  • David Procházka

    (University of Economics, Prague)

Abstract

The paper examines the development of financial performance of Czech subsidiaries under the control of EU-listed companies during the period 2009–2014. Summary statistics of individual corporate data indicate that both the domicile of the parent and the industry affiliation of the subsidiary have an impact on the subsidiary’s performance measured either by return on assets (ROA) or by return on equity (ROE). The association of parents’ domiciles and subsidiaries’ industries with performance is also confirmed by the analysis of variance (factorial ANOVA). ROE is significantly higher than ROA; the variability in ROE is, although, double compared to the variability in ROA. Finally, the differential between ROA and ROE is not constant over the sample companies.

Suggested Citation

  • David Procházka, 2018. "Financial Performance of Czech Subsidiaries of the EU-Listed Companies," Springer Proceedings in Business and Economics, in: David Procházka (ed.), The Impact of Globalization on International Finance and Accounting, pages 195-204, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-68762-9_21
    DOI: 10.1007/978-3-319-68762-9_21
    as

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