Abstract
The aim of the study is to evaluate the potential of Czech companies in overcoming the pandemic crisis caused by Covid-19 on the basis of the selected economic parameters To achieve this aim, development of Czech companies in the period of 2004-2018 has been analysed, which includes the periods before and during the financial crisis and the period of Czech economy growth A thorough analysis of this period allows us to create an evaluation platform and formulate the assumptions as to what extent Czech companies are able to cope with another crisis caused by the Covid-19 pandemic The research sample consists of 25,501 financially stable Czech companies of various sizes 184,548 pieces of financial data from these companies are analysed using standard statistical methods, namely Kruskal–Wallis test The results of the analyses show that in the case of Czech companies, the hypothesis of a significant impact of the financial crisis and the subsequent long recovery period is not confirmed Czech companies show a relatively high resilience to the effects of the financial crisis of 2008 and the ability to overcome this crisis Government measures to support the economy will play an important role in crisis management processes, enabling companies to survive in the worst stages of their operation and thus bridge the period of revenue losses and other negatives associated with the crisis Based on the evaluation of the post-crisis development, we can state that Czech companies with appropriate government support will be able to overcome the negative consequences of the pandemic crisis caused by Covid-19 The results of the study have several implications for policy-making and are also beneficial for the development of a methodological platform and the creation of national and international benchmarking indicators
Highlights
The development of Czech companies from 2004 to 2018 can be divided into the three periods
There are several institutional reports at the national and international levels dealing with quantifying the impact of the crisis on the countries' economies, a few reports have analysed the ways to cope with the crisis and the activities of companies and governments that have helped to revive the economy with active policies (Mazzanti et al, 2020; Čizo et al, 2020; Škare & Porada-Rochoń, 2020)
For the analysis of quantitative variables, it is necessary to test the normality of the data distribution, in order to determine whether parametric tests can be used for the analyses
Summary
The development of Czech companies from 2004 to 2018 can be divided into the three periods. In the post-crisis period, Czech companies recovered, and the economy made gradual progress. The global economic environment is affected by the pandemic crisis caused by Covid-19, which has hit countries on a global scale. The current pandemic crisis caused by Covid-19 has brought strong interventions and constraints to the world's economies, with both European and non-European countries not having prepared crisis economic scenarios to address its negative consequences (Zeibote et al, 2019; Dvorsky et al, 2020)
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