Industry In Slovakia Research Articles

Evaluation of the Impact of the Internet of Things on Postal Service Efficiency in Slovakia

This paper investigates the impact of technological advancements, particularly the integration of the Internet of Things (IoT), on the efficiency and productivity of the postal service industry in Slovakia. By employing the Cobb–Douglas production function, we analyze the relationship between key inputs—capital and labor—and output for six major postal service providers: Slovak Post, Packeta, DHL Express, DPD, TNT Express, and GLS. Using data from 2017 to 2021, this study quantifies the elasticities of capital and labor to assess how IoT adoption influences operational performance. The regression analysis reveals significant variations in input contributions across companies, highlighting the diverse effects of IoT integration. Findings suggest that while some companies benefit more from capital investments in technology, others rely heavily on labor efficiency. These insights offer valuable implications for policymakers and industry stakeholders aiming to optimize resource allocation and enhance productivity through technological innovation.

The Impact of the COVID-19 Pandemic and Related Measures on the Sports Industry in Slovakia

Stopping competitions and the training process was a shock that sports organizations had to deal with. Financial problems forced them to rethink the situation. In Slovakia, this became critical. This is why we started to research this issue to provide an answer to the research question: What are the actual consequences of government measures on the sports industry? A survey was conducted including two questionnaires made available between the pandemic waves. The first questionnaire was designed for athletes and sports professionals (N = 1040). The second addressed sports organizations (N = 626). Questionnaires were accessible via sports organizations’ portals. The ban on organizing mass sports events affected this industry. More than 80% of respondents had an experience of having to cancel a competition or training activity. This had an impact on their income as well as their future activities. We cooperate with government institutions and sports associations in Slovakia, so the results were provided to government officials. However, due to political changes accompanied by changes in the ministries responsible for the sports industry in Slovakia, it is relevant to summarize the research results in their present form. In this way they can serve as background for future sports policies.

A comparative assessment of the capabilities and success of the wood construction industry in Slovakia and Ukraine based on life cycle assessment certification standards

This study assessed the possibility of using wood as a building material for the construction of houses. A comprehensive method was used, which consisted of analysing environmental management regulations, applying the life cycle assessment method to minimise the carbon footprint; using software to calculate the carbon footprint of a wooden house at different stages of the life cycle. The object of study is the carbon footprint of a house built of wood. The Life Cycle Assessment method was used as a methodology for assessing the life cycle. Using the One Click Life Cycle Assessment and Life Cycle Cost software, the carbon footprint of a log house was calculated for the product life cycle stage mentioned above (A1-A3). When calculating the carbon footprint of wood-based building materials, carbon emissions were taken into account not only from the finished products, but also from all other products obtained as a result of logging. When calculating the carbon footprint, greenhouse gas emissions from all activities are estimated. We have obtained data on the life cycle cost of a wooden house in terms of electricity use. Accordingly, we obtained a value of global warming potential (A1-A3) of 0.51 kg CO2 e/kWh. We also obtained data on the life cycle cost of a wooden house in terms of diesel consumption. According to the results of the LCA, the value of the global warming potential due to meeting the water supply/sewage needs is (A1-A3) 0.69 kg CO2 e/m3. The value of the global warming potential due to meeting the heat supply needs of production needs is (A1- A3) 0.13 kg CO2 e/kWh. Based on the information obtained, we can conclude that it is advisable to use a wooden log house as a building material, as the carbon footprint is smaller than that of a brick building. The final section presents the results of calculating the life cycle cost of a wooden house by discount factor and inflation, the results of the life cycle cost of a wooden house by percentage of energy costs, and the results of assessing the life cycle cost of a wooden house (displaying parameters according to the European energy certification scale). Based on the carbon footprint assessment (using the Life Cycle Assessment methodology), economic comparison (Life Cycle Cost and total construction costs), and expert assessment (based on technical and ergonomic parameters) of the two construction technologies, the feasibility and possibility of using wood as a building material was established. The study proves the feasibility of applying the LCA method in the construction industry.

Overview of the level of 4D BIM integration in the construction industry in Slovakia

AbstractBuilding information modeling is one of the trends in the modern construction industry. The use of 4D building information modeling in addition to 3D building information modeling improves project planning and leads to higher quality of the final product with minimal wastage of resources. In addition, 4D building information modeling allows creating visual effects that can be shown to clients before construction begins. The study describes the ways in which 4D building information modeling can be used, as well as some of the notable benefits. The level of awareness of this technology and the level of its use in construction practice are also described. The final part describes the main problems and tasks of this field and possible ways to solve them.

Is Artificial Intelligence Really More Accurate in Predicting Bankruptcy?

Predicting bankruptcy within selected industries is crucial because of the potential ripple effects and unique characteristics of those industries. It serves as a risk management tool, guiding various stakeholders in making decisions. While artificial intelligence (AI) has shown high success rates in classification tasks, it remains uncertain whether its use significantly enhances the potential for early warning of impending problems. The following question arises: will classical methods eventually replace the effectiveness of these advanced techniques? This paper sheds light on the fact that even classical methods continue to achieve results that are not far behind, highlighting their enduring importance in financial analysis. This paper aims to develop bankruptcy prediction models for the chemical industry in Slovakia and to compare their effectiveness. Predictions are generated using the classical logistic regression (LR) method as well as AI techniques, artificial neural networks (ANNs), support vector machines (SVMs), and decision trees (DTs). The analysis aims to determine which of the employed methods is the most efficient. The research sample consists of circa 600 enterprises operating in the Slovak chemical industry. The selection of eleven financial indicators used for bankruptcy prediction was grounded in prior research and existing literature. The results show that all of the explored methods yielded highly similar outcomes. Therefore, determining the clear superiority of any single method is a difficult task. This might be partially due to the potentially reduced quality of the input data. In addition to classical statistical methods employed in econometrics, there is an ongoing development of AI-based models and their hybrid forms. The following question arises: to what extent can these newer approaches enhance accuracy and effectiveness?

VERIFIKÁCIA VYBRANÝCH MODELOV PREDIKCIE BANKROTU V AUTOMOBILOVOM PRIEMYSLE SLOVENSKEJ REPUBLIKY

The aim of the paper is to compare selected ex ante methods that serve to predict financial health or financial distress. The introductory part contains theoretical knowledge from this issue, a description of selected prediction models. In the next part, the goal of the contribution and the methodology of solving the contribution are presented. The following is an interpretation of the results of the application of selected prediction models when assessing the financial health of companies operating in the field of automobile production in the Slovak Republic. The data matrix consists of financial and accounting indicators of 351 enterprises. The result is a comparison of applied prediction models. Purpose of the article The purpose of this article is to compare selected ex ante methods that indicate the possibility of bankruptcy. These methods are applied to manufacturing companies operating in the field of automobile production in the territory of the Slovak Republic. Methodology/methods In the presented article, selected ex ante methods were used to predict bankruptcy and assess the financial health of companies. Among the prediction methods, the Altman model was chosen, which is considered the founder of financial forecasting and is the most widely used prediction model. Furthermore, the prediction models were selected to match the economic conditions of the country in which the selected models are applied. For that reason, the selection was narrowed down to the area of V4 countries. A model based on discriminant analysis, logit and probit was selected for comparison. Scientific aim The scientific goal of this article is to compare the results of individual methods and the possibilities of interpreting the results from the point of view of assessing the financial health of selected samples of enterprises in the field of automobile production in the Slovak Republic. Findings It follows from the results of individual prediction models that two prediction models (IN05 and Gulkov's model) evaluate enterprises as prosperous, two prediction models (Zmijevský and Pociech et al.) evaluate them as not prosperous, and Altmanov on average characterized enterprises as located in the gray zone, i.e. they are neither among prosperous enterprises nor among non-prosperous enterprises. The results point to the ambiguity of financial health prediction results. Conclusion The focus of the submitted contribution is the analysis and prediction of the financial health of companies using known prediction models to predict the bankruptcy of companies operating in the automotive industry in Slovakia. By comparing the results of individual prediction models, we can state that the results do not match. As part of further research, we will focus on the creation of a prediction model using mathematical-statistical methods, whose prediction ability will be high and will take into account the conditions in the automotive industry in the territory of the Slovak Republic.

ETHICAL REGULATION OF FOOD PRODUCTION AND MARKETING AS ONE OF THE CHALLENGES FOR THE EDUCATION OF AGRICULTURAL AND AGRI-FOOD EXPERTS

The quality and quantity of food to ensure the quality of life of the population is primarily the responsibility of entrepreneurs engaged in agriculture, agri-food and business. In their activities, entrepreneurs should also employ ethics, which, as one of the regulatory mechanisms, should regulate the production and sale of food to improve the quality of life of the population while respecting the requirement of sustainability. First, an argument is made for the need for ethical regulation of agricultural business and agri-food industry in Slovakia based on a qualitative analysis of theoretical sources in the field of ethics, applied ethics, sociology and other social sciences and humanities, and using knowledge from the field of economics and management of agriculture and food industry,. Given the lack of ethics programmes in these areas of the economy to fulfil this role, the need to implement ethics and applied ethics in the education of professionals for these areas of the economy is explained, with the aim to provide safe and quality food to the population and thus a better quality of life.

Analysis of the coefficient of unpredictable costs in the construction industry in Slovakia

The main vision of the article is how the current situation in the construction industry affects the cost of construction equipment in Slovakia, because during the implementation, unforeseen costs enter the costs, which are not foreseen in the planning. Current inflation in Slovakia is one of the highest in Europe. The methods used during the research were initial quantitative questionnaires. The output of these was processed using statistical methods and subsequently evaluated. The current situation requires considerable attention in the calculation of individual construction costs. As it is a very challenging process due to the unpredictable market situation in terms of inflation, the price of energy increases, which also causes the rise in the prices of materials and wages. The data obtained can be used by construction companies to calculate the construction equipment. Construction companies in Slovakia can apply the information obtained in the preparation of a quote for construction work that includes construction equipment.

How did the COVID-19 pandemic affect net working capital in industrial production companies?

Industry is one of the key sectors of Slovakia's economy and accounts for approximately 22% of GDP. Industrial production accounts for an average of 85% of the industry's contribution to GDP. The period of 2020 and 2021 was a crisis for all sectors of the economy due to the announcement of the global COVID-19 pandemic. Regarding the importance of industrial production in Slovakia's economy, we examine the impact of the coronavirus crisis on a sample of companies operating in this sector. Changes in the operational activity of enterprises are directly reflected in the volume of their net working capital. The aim of the study is to research changes in the volume of net working capital of enterprises in individual branches of the manufacturing industry in Slovakia from 2017 to 2021. The Wilcoxon signed-rank test was used to examine the significance of interannual changes in this indicator. The findings point to the growth of the volume of net working capital in crisis periods in almost all branches of industrial production and confirm the increase in requirements for managing working capital in periods of economic decline.

Comparison of Airport Operations Before, During and After the COVID-19 period in Slovakia

The COVID-19 pandemic has had a profound impact on global travel, resulting in significant disruptions to airport operations worldwide. The study on airport operations in Slovakia before, during, and after the COVID-19 pandemic found that passenger traffic and flight frequencies experienced significant declines during the pandemic, causing operational disruptions and financial challenges for airports. The research utilizes a mixed-methods approach, combining quantitative data analysis and qualitative insights from key stakeholders involved in airport management and operations. In the post-pandemic period, while there was some recovery, passenger numbers and flight frequencies remained below pre-pandemic levels. The study's results suggest that the aviation industry in Slovakia faces ongoing challenges in adapting to the new normal, with implications for future investments and strategies in airport management, capacity planning, and financial sustainability.

The impact of Industry 4.0 implementation on required general competencies of employees in the automotive sector

Abstract In an effort to reduce operating costs and to increase the quality and efficiency of production, production organizations in the automotive sector are trying to implement the Industry 4.0 concept, which has become a phenomenon of the last two decades. These initiatives have a significant impact on the employees in production organizations, especially in automotive sector. The main aim of the presented study is to expertly assess the importance of general competencies for transforming job positions in the automotive industry in Slovakia. The starting point of the presented study were the results of research focused on emerging positions in the automotive industry and the competencies required by employers in Slovakia. Based on the expert assessment, the hierarchical structure of the solved problem was created and the importance of competencies for analysed job positions was assessed by applying the Analytical Hierarchical Process (AHP) method. The results pointed to the growing importance of non-technical competencies. Analyses have shown that actually the most important work competencies are: basic literacy, professional knowledge, problem solving, digital skills and analytical thinking. The development of the necessary competencies will be important both, from the point of view of employers, but also of employees working in professions that are in decline, become endangered and need to be transformed into the required professions.

Women in the World of Digital Games: The Case of Slovakia

This research paper aims to provide a picture of women’s participation in various positions in the field of digital games in Slovakia, such as creators of game content, women involved in eSports, the gaming industry, casual gamers as well as women working in the field of digital game education. Based on theoretical knowledge and qualitative in-depth interviews with seven women working in various positions in the gaming industry, the women’s positive and negative work experiences, and the problems and obstacles linked to their gender were identified. The research is specifically focused on the situation of women in the gaming industry in Slovakia. The results show that female gamers and streamers face negative behaviour from their fellow players and viewers which may result in an array of negative consequences. Findings also indicate that the low representation of women in some areas of the gaming industry is a consequence of prevailing gender roles in society. Furthermore, women’s participation in eSports and competitive gaming is limited due to toxic meritocracy, prevailing masculinity and sexism.

Application Of Quality Management in The Production of Glucans in The Food and Pharmaceutical Industry in Slovakia

Application Of Quality Management in The Production of Glucans in The Food and Pharmaceutical Industry in Slovakia

Impact of the COVID-19 Pandemic on the Business Environment in Slovakia

The COVID-19 pandemic has significantly affected economic development in countries around the world. It has deepened existing problems and increased the need for economic transformation, modernisation, and qualitative development, and launched new technological reforms that have led to the emergence of new economic forms of business models, consumption, as well as policies at the level of the state or local governments. The impacts of the pandemic are still visible in many aspects of life, including economic activity and the individual decisions of economic subjects at the level of households, enterprises, and governments. In this article, we present the results of the impact analysis of the COVID-19 pandemic with an emphasis mainly on the SMEs segment focusing on the tourist, hotel, and gastro industry (generally as one of the most affected by the pandemic). We also analyse the impact of the pandemic on the automotive industry because it is the most important manufacturing industry in Slovakia. Regardless of which industries of the national economy they are operating in, SMEs are assumed to be a driving force of structural changes, increasing employment, and economic growth. SMEs in Slovakia represent approx. 99% of all active enterprises and significantly participate in the success of the national economy. They are also an important factor in cooperation with large enterprises; in the case of Slovakia, the automotive industry should be highlighted (it is an important part of the secondary sector). The analysis and evaluation of the impacts of the COVID-19 pandemic are carried out as a temporal and comparative analysis of the selected economic and industrial indicators relevant to the assessment of the impact of the pandemic on the Slovak business environment. It is an overview study of development; the impact of the pandemic is expressed mostly through the ratio indicators. The basis for time analysis and comparison is data representing the economic status quo before the pandemic (2019), and the ordinary period is represented by data distinctive of the pandemic period (2020, 2021). The results of the analysis indicate that the pandemic had a strong impact on employment and the sales of enterprises operating in the accommodation and catering industries; on the other hand, it did not reflect in the number of defunct enterprises, which points to the potential effectiveness of anti-pandemic measures in terms of state aid for the business sector. The results of this study may serve as a basis for the evaluation of introduced support programs (the evaluation of optimal combination and the impact of fiscal policies during a national/global economic crisis between assisting households, companies, state, and local governments) immediately mitigating the consequences of anti-pandemic measures, but also programs to eliminate the long-term consequences of the pandemic in the business environment in Slovakia. Assessing the situation is also a prerequisite for evaluating the impact of current crises (problems such as the global failure of logistics chains due to the pandemic, inflation, the environmental and energy crisis, and migration due to war conflict and applied sanction measures). In general, it is possible to claim that the pandemic was a huge burden for Slovakia; on the other hand, it was a lesson learned.

Detection of Microbiota during the Fermentation Process of Wine in Relation to the Biogenic Amine Content.

Viticulture is one of the traditional industries in Slovakia, where there are six wine-growing regions: Malokarpatska, Southern Slovakia, Central Slovakia, Nitra, Eastern Slovakia, and Tokaj. This study focuses on the detection of microbiota in soil samples, grape leaves and berries, and samples taken from fermenting must and young wine (the variety Tramín červený) in relation to the detected concentrations of biogenic amines during the fermentation process. In the examined samples, the number of yeasts and molds (from 3.8 to 6.8 log cfu/g or mL) and TVC (from 3.7 to 6.5 log cfu/g or mL) were determined via culture examination. At the same time, the number of LAB (from ˂3.0 to 4.4 log cfu/g or mL) was determined, which was the highest on day 4 of the must fermentation process and was related to the detected of the highest concentration of biogenic amines (histamine and tyramine) on day 6 in the investigated must samples using the UHPLC system. Mycobiota species were identified by MALDI-TOF MS, PCR, ITS-PCR-RFLP, and PCR sequencing of the amplified products. The study confirmed the presence of the yeasts Saccharomyces cerevisiae, Metschnikowia pulcherrima, Hanseniospora uvarum, Pichia kudriavzevii, Pichia kluyveri, Pichia fermentas, Torulaspora delbrueckii, and Candida tenuis. At the same time, the presence of molds (Cladosporium herbarum, Cladosporium cladosporioides, Penicillium granulatum, Penicillium mononematosum, Botritis cinerea, and Penicillium glabrum) was also confirmed in soil samples, leaves, grape berries, and fresh grape must. The study confirmed the reduction in the species diversity of the microbiota during the must fermentation process, which resulted in decreases in the concentrations of the monitored biogenic amines in the early stages of the must fermentation process and young wine of the variety Tramín červený.

Financing Gap of Agro-food Firms and the Role of Policies

The objective of this paper is to evaluate the position and financing needs of agri-food industry in Slovakia. There is a growth of agri-food sector which is reflected in growing demand for finance. Despite current favourable conditions on the financial market in Slovakia, some viable firms still face a credit constraint. Financing gap exists due to relatively high interest rates for some firms and due to their lack of sufficient collateral. Based on the survey results and focus group meetings we estimate the financing gap. Results show that there is potential for a further expansion of the financing market, with a financing gap estimated at EUR 36.8 mil. Small firms suffer the most from the financing gap and they constitute 77.4% of the gap. Financing gap and financing needs will be growing in the future. Firms need to increase investment to stay competitive on the market and need to adopt to changes in consumer preferences. This requires further investment into new technology and equipment. Tougher environmental requirements make firms invest into more environmentally friendly production processes. Furthermore, the sector is expected to be growing in the future. Financial instruments in the form of loan guarantees and interest rate subsidies would partly eliminate the existing financing gap. Small firms would benefit from simple and flexible financial instruments serving as guarantees for loans. Large firms would benefit from long-term loans supported by financial instruments. Policy-makers should place special attention on the use of financial instruments in agri-food sub-sectors with potential high value added and high employment.

The Motor Vehicles Industry in Slovakia, 2005 – 2015

This note examines the evolution of the Slovak motor vehicles sector during 2005-2015, drawing on the latest update (December 2018) of OECD's Inter-Country Input-Output (ICIO) model database. The review takes a global value chain (GVC) approach and looks at the linkages from the gross production and value added perspectives. The overall contribution of the motor vehicles sector to Slovakia's gross production and domestic value added increased twofold during the reference period. There was an ongoing change in the structure of the GVC linkages. The reliance on domestically-sourced inputs increased over the years. The (indirect) value added created in the production of domestically-sourced inputs gradually approached the level of the (direct) value added generated within the motor vehicles sector. Subsequent to the global financial crisis, the share of intermediate goods in exports, the forward linkage of the GVC, and the upstreamness of the production process were all on a rising trend. The sourcing pattern of imports of intermediate inputs and the market for exports steadily shifted away from the euro area towards non-EU countries. It is estimated that a hypothetical 10 percent negative shock to global final demand for motor vehicles would lower Slovak GDP growth by 1 percentage point.

Survey of consumer preferences in the field of wooden buildings

The future of future generations of humanity is conditioned by the decisions, actions and behavior of contemporary society towards the surrounding nature. The current critical state of the environment caused by the human factor forces one to think about a change in thinking in relation to ecology. Progress in this direction and the pursuit of a sustainable way of life is also felt in the construction sector. Modern wooden buildings are an environmental alternative to buildings made of energy-intensive materials. This type of construction is currently experiencing great success worldwide and is already part of the standard of living in many countries. Progress in this ecological way of construction has been recorded in recent years by the construction industry in Slovakia, but in its development it is progressing much more slowly than other countries of the European Union. The potential behind the development of wood-based structures is currently not fully exploited and it is therefore necessary to pay increased attention to research and innovation in the timber construction sector. The work deals with a survey of consumer preferences in the field of wooden buildings.

Indebtedness and profitability – A threshold model approach

This study seeks to expand upon existing empirical results about the effect of debt on corporate profitability. Indicators Debt ratio (DR) and Return on Equity (ROE) were used to examine the relationship between debt and corporate profitability. The input data for the analysis represented the financial data of companies operating in the construction industry in Slovakia. The total sample included 7,529 companies. After excluding companies with extreme values, the sample consisted of 6,402 companies. Indicators ROE and DR were used in the given research. To determine the debt threshold, a threshold regression model was applied. Using this model, a nonlinear relationship between debt and profitability was found. An indebtedness threshold has also been identified. Once the threshold is exceeded, the positive relationship between indebtedness and ROE changes to negative. The results, in particular those which indicate a significant non-linear relationship between debt and profitability, are particularly useful for all stakeholders (internal and external) interacting with analyzed companies. AcknowledgmentsThe research was prepared within the grant scheme VEGA 1/0741/20 – The application of variant methods in detecting symptoms of possible bankruptcy of Slovak businesses in order to ensure their sustainable development.

Key Challenges and Opportunities of Industry 4.0 in Metallurgical Industry in Slovakia

Abstract The main objective of the paper was to identify and explain the terms related to Industry 4.0 based on a review of foreign literature and then to interpret the results of the quantitative research. In the construction of the theoretical framework, the analysis, synthesis, comparison of scientific terminology from foreign scientific sources from recent years. Interpretation of the studied issues from the practical aspect was realised on the basis of the evaluation of the questionnaire survey. The object of the research were 29 enterprises participating in the metallurgical industry in Slovakia. The research results indicate that the respondents have partial information about Industry 4.0. Data evaluation also indicated that most of the respondents are applying Industry 4.0 in production. Industry 4.0 in metallurgical enterprises mainly optimise business processes. The use of smart sensors from Industry 4.0 technologies as well as advanced simulation is dominant in metallurgical enterprises in Slovakia.