Acta Univ. Agric. Silvic. Mendelianae Brun. 2016, 64(3), 1045-1052 | DOI: 10.11118/actaun201664031045

Impact of the Financial Crisis of 2008 on Furniture Industry in the Czech Republic and Development of Tangible Fixed Assets in 2005-2012 and its Possible Renewal

Tomáš Najbrt1, Kamila Hasilová2
1 Department of Wood Processing, Faculty of Forestry and Wood Technology, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic
2 Department of Econometrics, Faculty of Military Leadership, University of Defence, Kounicova 65, 662 10 Brno, Czech Republic

This paper is focused on furniture firms in the Czech Republic during the period 2005-2012, which covers the year of the crisis. The aim was to assess the given economic situation of the manufacturing businesses comparing some of the economic indicators such as tangible fixed assets, revenue from own production and services, pre-tax profit and labor costs. The study was conducted in the Czech Republic using the data provided by the Czech Statistical Office. Results for the specified period and selected groups of micro furniture companies are shown; dependence of economic indicators within the given time period is also analyzed. The analysis has shown that the smallest of the firms were least affected by the economic crisis; moreover, the medium-sized of the companies exhibit tangible assets growth and certain degree of inertia in years 2008 and 2009. Finally, possibilities how the micro furniture companies could proceed when purchasing new technologies are outlined.

Keywords: furniture company, tangible assets, machinery obsolescence, investments
Grants and funding:

The research has been partially supported by the University of Defence through the Institutional development project Economic Laboratory.

Prepublished online: July 4, 2016; Published: July 1, 2016  Show citation

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Najbrt, T., & Hasilová, K. (2016). Impact of the Financial Crisis of 2008 on Furniture Industry in the Czech Republic and Development of Tangible Fixed Assets in 2005-2012 and its Possible Renewal. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 64(3), 1045-1052. doi: 10.11118/actaun201664031045
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