My passion is research and finance. I see the power in the combination of business and science and thus my goal is to fill the gap between practice and theory.
The recent Global Financial Crisis and following European Debt Crises show the significance of th... more The recent Global Financial Crisis and following European Debt Crises show the significance of the country financial stability and its influence on the private sector. The managers make their financial decisions according the source of financing based on the macro economic conditions as interest rates, market volatility, inflation, level of sovereign debt, GDP growth, and the financial stability of a country in general. These factors influence the investment prospects of the country, the stability of bank system, and thus the country default probability and consequently the sovereign credit ratings. The paper investigates the relation between capital structure and the country default risk represented by sovereign credit ratings that assigned by worldwide known agencies as Moody’s and Standard and Poor’s. The research is based on the evidence from four economically related countries: Czech Republic, Slovakia, Poland and Hungary, integrated into Visegrad group, which represent situati...
The recent Global financial crisis and the following European debt crisis show the significance o... more The recent Global financial crisis and the following European debt crisis show the significance of country financial stability and its impact on the private sector. Moreover, the sovereign debt as an essential element of government macroeconomic policy influences the financial performances of the companies and their future development and growth. The capital structure and financing decisions represent one of the most significant parts of company’s financial policy and its key to financial strength. There are a lot of external factors influencing the capital structure; however, due to the European debt crisis the aim of this study is to indicate the influence of sovereign debt on capital structure of the private held companies in different European countries. This study examines the evidence from European developed countries and emerging markets for the period 2005–2012, in order to compare the level of its impact on the capital structure according to the countries’ specifics. We fin...
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2016
After the Global Financial Crisis the frequency of reported losses of companies has increased sig... more After the Global Financial Crisis the frequency of reported losses of companies has increased significantly in countries of the European Union. Moreover, the financial leverage of companies have increased and even exceeded 100% in several countries. The reason of this development is negative equity that companies find themselves to report. At first sight negative equities are caused by accumulated losses from prior periods. However, there are some other reasons that can result in increasing negative equities in companies. They remain adequate as long as a company is able to pay its bills. Nevertheless, a company with negative equity is exposed to risks. This paper investigates whether the corporate negative equity is a sign of the future failure of a company. We examine non-financial manufactured companies from selected countries of the European Union within the period 2005–2012 from database Amadeus (Czech Republic, Slovakia, Hungary, Poland and Germany). By the means of comparison...
The Global Financial crisis of 2008 provides great recession and leads a company to the stage of ... more The Global Financial crisis of 2008 provides great recession and leads a company to the stage of crisis in case of blocking the provision of capital to business long enough to generate failures. Thus one of the most important parts of post-crisis financial management is to define the impact of the crisis on the cost of capital, determinate factors that have influence on the cost of capital and how they have changed due to the financial crisis and by the means of that knowledge make the optimal financial decision to develop a company. The object of this article is the cost of capital and the changes of external and internal factors influencing on it due to the world financial crisis. Those relations are conductive to optimal financial strategy of a company to get out of crisis period and move to the stage of growth. But the impact of external factors is very high and in distinction of internal factors a company cannot manage them. Thus the determination of their influence on the basi...
The recent Global Financial Crisis and following European Debt Crises show the significance of th... more The recent Global Financial Crisis and following European Debt Crises show the significance of the country financial stability and its influence on the private sector. The managers make their financial decisions according the source of financing based on the macro economic conditions as interest rates, market volatility, inflation, level of sovereign debt, GDP growth, and the financial stability of a country in general. These factors influence the investment prospects of the country, the stability of bank system, and thus the country default probability and consequently the sovereign credit ratings. The paper investigates the relation between capital structure and the country default risk represented by sovereign credit ratings that assigned by worldwide known agencies as Moody’s and Standard and Poor’s. The research is based on the evidence from four economically related countries: Czech Republic, Slovakia, Poland and Hungary, integrated into Visegrad group, which represent situati...
The recent Global financial crisis and the following European debt crisis show the significance o... more The recent Global financial crisis and the following European debt crisis show the significance of country financial stability and its impact on the private sector. Moreover, the sovereign debt as an essential element of government macroeconomic policy influences the financial performances of the companies and their future development and growth. The capital structure and financing decisions represent one of the most significant parts of company’s financial policy and its key to financial strength. There are a lot of external factors influencing the capital structure; however, due to the European debt crisis the aim of this study is to indicate the influence of sovereign debt on capital structure of the private held companies in different European countries. This study examines the evidence from European developed countries and emerging markets for the period 2005–2012, in order to compare the level of its impact on the capital structure according to the countries’ specifics. We fin...
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2016
After the Global Financial Crisis the frequency of reported losses of companies has increased sig... more After the Global Financial Crisis the frequency of reported losses of companies has increased significantly in countries of the European Union. Moreover, the financial leverage of companies have increased and even exceeded 100% in several countries. The reason of this development is negative equity that companies find themselves to report. At first sight negative equities are caused by accumulated losses from prior periods. However, there are some other reasons that can result in increasing negative equities in companies. They remain adequate as long as a company is able to pay its bills. Nevertheless, a company with negative equity is exposed to risks. This paper investigates whether the corporate negative equity is a sign of the future failure of a company. We examine non-financial manufactured companies from selected countries of the European Union within the period 2005–2012 from database Amadeus (Czech Republic, Slovakia, Hungary, Poland and Germany). By the means of comparison...
The Global Financial crisis of 2008 provides great recession and leads a company to the stage of ... more The Global Financial crisis of 2008 provides great recession and leads a company to the stage of crisis in case of blocking the provision of capital to business long enough to generate failures. Thus one of the most important parts of post-crisis financial management is to define the impact of the crisis on the cost of capital, determinate factors that have influence on the cost of capital and how they have changed due to the financial crisis and by the means of that knowledge make the optimal financial decision to develop a company. The object of this article is the cost of capital and the changes of external and internal factors influencing on it due to the world financial crisis. Those relations are conductive to optimal financial strategy of a company to get out of crisis period and move to the stage of growth. But the impact of external factors is very high and in distinction of internal factors a company cannot manage them. Thus the determination of their influence on the basi...
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Papers by Natalia Mokhova