{"title":"食品零售商财务业绩的发展是部分中欧和东欧国家粮食不安全加剧背后的一个因素","authors":"Oksana Dubanych, J. Vavřina, Josef Polák","doi":"10.21511/imfi.20(4).2023.33","DOIUrl":null,"url":null,"abstract":"Food insecurity is not a new phenomenon even in leading European economies, but this complex problem area is facing new global challenges. This article traces the research gap in addressing food insecurity by focusing on the role of food retail chains in the former “Eastern Bloc” in light of unprecedented food price inflation and the resulting scale of demand for the services of food banks. Through empirical analysis of secondary financial corporate data, a low level of their profitability in the period of 2011–2019 was revealed, which preceded the synchronicity of two unexpected global economic downturns. Specifically, Return on Sales for food retailers located in the Czech Republic and Hungary was generally below 2%, offset by higher Total Asset Turnover figures, consistent with the need to extend the volume of goods for sale. Development in profitability in selected newer EU member states is just as significantly similar to the situation in Ukraine. The mutual interaction of factors of economic size and the country of residence of business was analyzed regarding a possible influence on their financial performance. This study concluded that the presence of unresolved market distortions can both lead to increased food insecurity and, paradoxically, contribute to increased food waste.\nAcknowledgmentThe authors are thankful to the Internal Grant Agency of Mendel University in Brno for financial support to carry out this research as the partial output of the project No. IGA-PEF-TP-23-015 “Zajišťování výživových potřeb obyvatelstva vzhledem k aktuálním výzvám v oblasti regenerativních přístupů při vykonávání hospodářských činností podniků agropotravinářského komplexu se zaměřením na roli tuzemských potravinových bank”.","PeriodicalId":39060,"journal":{"name":"Investment Management and Financial Innovations","volume":"272 35‐38","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Development of financial performance of food retailers as an attribute behind the increase of food insecurity in selected Central and Eastern European Countries\",\"authors\":\"Oksana Dubanych, J. Vavřina, Josef Polák\",\"doi\":\"10.21511/imfi.20(4).2023.33\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Food insecurity is not a new phenomenon even in leading European economies, but this complex problem area is facing new global challenges. This article traces the research gap in addressing food insecurity by focusing on the role of food retail chains in the former “Eastern Bloc” in light of unprecedented food price inflation and the resulting scale of demand for the services of food banks. Through empirical analysis of secondary financial corporate data, a low level of their profitability in the period of 2011–2019 was revealed, which preceded the synchronicity of two unexpected global economic downturns. Specifically, Return on Sales for food retailers located in the Czech Republic and Hungary was generally below 2%, offset by higher Total Asset Turnover figures, consistent with the need to extend the volume of goods for sale. Development in profitability in selected newer EU member states is just as significantly similar to the situation in Ukraine. The mutual interaction of factors of economic size and the country of residence of business was analyzed regarding a possible influence on their financial performance. This study concluded that the presence of unresolved market distortions can both lead to increased food insecurity and, paradoxically, contribute to increased food waste.\\nAcknowledgmentThe authors are thankful to the Internal Grant Agency of Mendel University in Brno for financial support to carry out this research as the partial output of the project No. IGA-PEF-TP-23-015 “Zajišťování výživových potřeb obyvatelstva vzhledem k aktuálním výzvám v oblasti regenerativních přístupů při vykonávání hospodářských činností podniků agropotravinářského komplexu se zaměřením na roli tuzemských potravinových bank”.\",\"PeriodicalId\":39060,\"journal\":{\"name\":\"Investment Management and Financial Innovations\",\"volume\":\"272 35‐38\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2023-12-15\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Investment Management and Financial Innovations\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.21511/imfi.20(4).2023.33\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"Economics, Econometrics and Finance\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Investment Management and Financial Innovations","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.21511/imfi.20(4).2023.33","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
摘要
即使在欧洲主要经济体,粮食不安全也不是一个新现象,但这一复杂的问题领域正面临着新的全球性挑战。鉴于前所未有的粮食价格上涨以及由此产生的对食品银行服务的大规模需求,本文通过重点研究前 "东欧集团 "食品零售连锁店的作用,追溯了解决粮食不安全问题的研究空白。通过对二级财务公司数据的实证分析,发现在 2011-2019 年期间,食品零售连锁店的盈利能力处于较低水平,而在此之前,全球经济出现了两次意料之外的衰退。具体而言,位于捷克共和国和匈牙利的食品零售商的销售回报率普遍低于 2%,但由于需要扩大销售商品的数量,总资产周转率较高,从而抵消了这一影响。部分欧盟新成员国的盈利能力发展情况与乌克兰的情况非常相似。研究分析了经济规模和企业所在国这两个因素之间的相互作用对其财务业绩可能产生的影响。本研究得出结论,未解决的市场扭曲问题既可能导致粮食不安全加剧,也可能加剧粮食浪费。IGA-PEF-TP-23-015 "Zajišťování výživových potřeb obyvatelstva vzhledem k aktuálním výzvám v oblasti regenerativních přístupů při在农业银行的基础上建立农业再生综合体"。
Development of financial performance of food retailers as an attribute behind the increase of food insecurity in selected Central and Eastern European Countries
Food insecurity is not a new phenomenon even in leading European economies, but this complex problem area is facing new global challenges. This article traces the research gap in addressing food insecurity by focusing on the role of food retail chains in the former “Eastern Bloc” in light of unprecedented food price inflation and the resulting scale of demand for the services of food banks. Through empirical analysis of secondary financial corporate data, a low level of their profitability in the period of 2011–2019 was revealed, which preceded the synchronicity of two unexpected global economic downturns. Specifically, Return on Sales for food retailers located in the Czech Republic and Hungary was generally below 2%, offset by higher Total Asset Turnover figures, consistent with the need to extend the volume of goods for sale. Development in profitability in selected newer EU member states is just as significantly similar to the situation in Ukraine. The mutual interaction of factors of economic size and the country of residence of business was analyzed regarding a possible influence on their financial performance. This study concluded that the presence of unresolved market distortions can both lead to increased food insecurity and, paradoxically, contribute to increased food waste.
AcknowledgmentThe authors are thankful to the Internal Grant Agency of Mendel University in Brno for financial support to carry out this research as the partial output of the project No. IGA-PEF-TP-23-015 “Zajišťování výživových potřeb obyvatelstva vzhledem k aktuálním výzvám v oblasti regenerativních přístupů při vykonávání hospodářských činností podniků agropotravinářského komplexu se zaměřením na roli tuzemských potravinových bank”.
期刊介绍:
The international journal “Investment Management and Financial Innovations” encompasses the results of theoretical and empirical researches carried out both on macro- and micro-levels, concerning various aspects of financial management and corporate governance, investments and innovations (including using of quantitative methods). It is focused on the international community of financiers, both academics and practitioners. Key topics: financial and investment markets; government policy and regulation; corporate governance; information and market efficiency; financial forecasting and simulation; financial institutions: investment companies, investment funds, investment banks, hedge funds, private pension funds; objects of real and financial investing; financial instruments and derivatives; efficiency of investment projects; econometric and statistic methods in project management; alternative investments; ratings and rating agencies.