Papers by Blanka Giertliova
Central European Forestry Journal, May 1, 2023
The main aim of the paper is to propose formalised decision-making model for the selection of sui... more The main aim of the paper is to propose formalised decision-making model for the selection of suitable parts of raw wood for the production of musical instruments and to decrease uncertainty in the purchasing process. It deals with the problem which was never solved before. The paper presents the methodology of input evaluation, considering the principles of sustainable development. We present by means of a supplier selection example and criteria evaluation, that an outranking approach may be very well suited as a decision-making tool for initial purchasing decisions. We have identified this step from the scientific point of view and from the questionnaire sent to musical instrument producers. There were used the following methods: questionnaire, decision tree and statistical methods of questionnaire processing. Our proposed decision tool/methodology could help on both sides of supply chain-as on the side of raw wood supply as on the side of raw wood demand. Based on the results of scientific research we can say that all assessed hypotheses were confirmed and, in the following, it was designed decision-making model by the method of decision tree. We have developed a conceptual model of buyer's decision-making uncertainty can be reduced by the buyer's perceptions of supplier trust, supplier commitment, and supplier dependence. Based on data collected from a questionnaire, our study confirms the negative effect of buyers' trust in the supplier on their uncertainty in purchase decisions. It helps to optimise the identification, specification and evaluation of key factors for a wood as an input into the production of musical instruments. From the economic point of view, our proposals could help to increase value added in the production of wooden musical instruments and at the same time it could decrease possible waste from the undesirable raw wood input.
Students’ perception of bioeconomy as an important factor in communicating and further development of the bioeconomy in Slovakia and the Czech Republic
Scandinavian Journal of Forest Research, May 19, 2023
Bioresources, Feb 25, 2019
The aim of the paper is to evaluate the price development of timber assortments in selected count... more The aim of the paper is to evaluate the price development of timber assortments in selected countries in Central Europe, to compare the prices and identify the factors influencing the prices, and to quantify the extent of their impact on the prices. A further aim is to predict the price development based on comparing various models for predicting time series of prices. The analyses of the price development was carried out for the assortments of spruce, fir, and beech sawlogs in Slovakia, Czech Republic, and selected Austrian provinces. The analyzed period covered the years from 2001 to 2017 per individual months. Following the selected factors, the study was focused on the timber price development, and subsequently the prediction up to the end of 2019 was calculated. The most significant factor having a negative impact on the price development was the global economic crisis. Following all the prediction methods, the next two years can expect an increase in the prices of sawlogs, except the beech sawlogs in Austria. Analysis of the price developments in the selected countries confirmed that all global factors reflected the price level trends approximately equally in all countries.
Public perceptions of using forests to fuel the European bioeconomy: Findings from eight university cities
Forest Policy and Economics, Jul 1, 2022
Bioresources, Jun 15, 2020
Sales of timber, which represent the main source of forest management income, are essential for t... more Sales of timber, which represent the main source of forest management income, are essential for the economic welfare of forest businesses. Planning the timber sale management faces a certain amount of uncertainty and risk in such difficult conditions of climate change. Model scenarios make preparation for potential future development possible. The aim of the study was to create a prediction model of coniferous and nonconiferous sawlogs for the area of the Central Europe. The objective of the model was to estimate the variations in the price of coniferous or nonconiferous sawlogs following a linear regression equation in the analysed time series from 2001 to 2017. The price of coniferous sawlogs was significantly affected in a negative way by the amount of incidental fellings and in a positive way by the Gross Domestic Product. The price of the nonconiferous sawlogs was significantly affected in a positive way by the GDP and the volume of non-coniferous sawlog export. These factors caused a non-elastic response of the coniferous sawlog price. The impact of these factors depends to a great extent on the wood species composition of the forests in the Slovak Republic. The model also can be set for conditions of other countries when considering their economic indicators.
Journal of forest science, Jan 31, 2020
The financial analysis is an important part of complex financial management. It provides feedback... more The financial analysis is an important part of complex financial management. It provides feedback between the financial plan and the real condition. The real plan is based on information from financial accounting. The quality of results is affected by the quality of input information. It is important to choose suitable methods of financial analysis and to explain the way of reaching results (Krištof ík et al. 2010). The financial and economic analysis consists of several levels. The financial analysis focuses on the identification of individual results and the economic analysis focuses on interpreting the results. Based on the financial analysis, we can examine the reasons that affect the current status of the financial situation. The financial situation includes the volume and quality of business production, marketing activity and other activities (Vlachynský et al. 2002). The factors that affect the financial analysis can be divided into two groups. The first group includes external factors. The second group includes internal factors. The external factors are inflation, monetary policy and others. The internal factors are profits, volume of sales, transformation processes and others (Kráľovič et al. 2006). The financial analysis is to review the financial policy of the enterprise at a given time in the past
Central European Forestry Journal, May 9, 2022
The paper builds on previous international research done by Masiero et al. (2020). It applies on ... more The paper builds on previous international research done by Masiero et al. (2020). It applies on Slovak national level and expands the previous study with different study programs. The societal transformation towards bioeconomy provides an opportunity for changing current economy and societies into more sustainable ones with mitigation of the environmental pressures at hearts. Such societal transition requires involvement of all stakeholders in bioeconomy discussion and decision-making process and studying their perceptions of bioeconomy. Amongst all the stakeholders, future generation is particularly important, as it is important to understand bioeconomy perception by the generation of stakeholders that will manage this area in the near future. For that reason, we focus our attention on students of three bioeconomy related areas at the Technical University in Zvolen (forestry studies, wood processing studies and natural resources management studies). We were able to identify significant differences in bioeconomy perception between analyzed categories. The familiarity with the concept is quite high, as more then two thirds have heard about bioeconomy before the survey was conducted. As the main information sources were selected news, university courses and social media. The study program had a greater impact on perceived importance of forests within bioeconomy than the type of study. Overall, students perceive development of forest-based bioeconomy as favouring sustainable forest management.
Journal of Forest Science
Fire is considered one of the major natural hazards that damages European forests and causes loss... more Fire is considered one of the major natural hazards that damages European forests and causes losses for forest owner. The forest fires endanger the financial stability of forest enterprises, which may cause their economic decline. One possibility how to cover these losses is to insure forest land against this kind of specific risk of forest land management. The aim of the present paper is to analyse possibilities of forest fire insurance for forest owners and enterprises in the Slovak private insurance market. The market analysis was based on document analysis of general terms and insurance conditions of chosen private insurance companies and interviews with insurance agents. The results show that forest owners and enterprises have only few options for forest property insurance concerning the specific risk of forest fires. Only one commercial insurance company provides such forest fire insurance product for forest owners. This insurance covers material damage to forest land and timber damage.
Forests, 2021
Countries are forced to develop bio-based economic strategies to promote efficient use of renewab... more Countries are forced to develop bio-based economic strategies to promote efficient use of renewable natural resources. The transition towards a sustainable forest bio-based economy is associated with resource efficiency optimization, adoption of innovative bio-based approaches in terms of technological improvements and cost effectiveness, and an opportunity to reach multiple societal challenges. This paper is focused on a comparative analysis of the forestry sector in the Republic of Bulgaria and the Slovak Republic by estimating the economic efficiency of four Bulgarian state-owned forest enterprises and four Slovak forest enterprises. The evaluation of economic efficiency was carried out using selected indicators of the studied enterprises over a period of five years. A data envelopment analysis (DEA) approach was used as a non-parametric linear technique for measuring the relative efficiency of a set of production decision-making units (DMUs). The Malmquist productivity index (MP...
Journal of Forest Science, 2020
Individual companies need to know their financial condition. They have a wide range of methods an... more Individual companies need to know their financial condition. They have a wide range of methods and procedures to create a system of the financial and economic analysis of a company. The analysis is focused on the evaluation of a specific group of methods for predicting the financial health of a business entity. Evaluations of the financial situation of a company are divided into point methods, mathematical and statistical methods and neural networks. The individual methods differ from each other in difficulty, in the extent of the analyzed areas and possibilities of application. The aim of this work is to assess the possibilities of using selected methods of comprehensive evaluation of companies as a tool for an analysis of the position of each company in the branch. The suitability and feasibility of each method are tested on a selected group of companies. Quick Test, Tamari Model, Beaver Model are included in this work. Based on the results, improvements and recommendations for th...
Journal of Forest Science, 2019
In Slovakia the topic of socially responsible business has been little reviewed and described, bo... more In Slovakia the topic of socially responsible business has been little reviewed and described, both theoretically and practically. The article highlights the differences in the definition and characteristics of Corporate social responsibility (CSR) as published by several domestic and foreign authors. Not less significant is the added value of a practical design of the CSR implementation model for forest management, as well as its measurement, evaluation and reporting tools.
SHS Web of Conferences, 2021
Research background: The European Union has laid the foundations of European bioeconomy by publis... more Research background: The European Union has laid the foundations of European bioeconomy by publishing Innovating for Sustainable Growth: A Bioeconomy for Europe in 2012 and A sustainable bioeconomy for Europe: strengthening the connection between economy, society and the environment in 2018. These publications have inspired individual countries to develop their national bioeconomy strategy. Purpose of the article: The lack of engagement in the area of bioeconomy appears to be a problem, as individual national strategies differ vastly amongst the countries. For successful bioeconomy development, there is a need to identify and address the differences in these strategies. That is why, we aim our attention at comparing European and Slovak bioeconomy legislative and at analysing to what extent have Slovak legislative implemented aspects of the European legislative. Methods: The methodology of this study relies on document analysis of officially adopted policy strategies and roadmaps in ...
Possibilities of Using Alternative Sources of Financing in the Conditions of Slovak Forest Enterprises
SWS International Scientific Conferences on SOCIAL SCIENCES - ISCSS
The capital structure of a company represents the way in which companies finance their needs. Cur... more The capital structure of a company represents the way in which companies finance their needs. Currently, there is no unifying determining the selection between debt and equity. Existing scientific knowledge does not lead to the creation of a unified theory of capital structure, mainly because of the complexity and number of factors that influence these decisions. Considering the specifics of forest enterprises, including from the point of view of financial management, this problem is even more complex. The article analyses the internal and external factors that influence the decision-making about the optimal capital structure of business entities. In terms of applying the principles of the green economy, the importance of forestry and its contribution to reducing the amount of carbon in the air is emphasized. Forest ecosystems provide benefits known as ecosystem services, which have ecological, social, and economic importance for society. Their fulfilment requires ensuring sufficien...
Policy Instruments for Supporting Renewable Energy Sources in Slovak Republic
SGEM International Multidisciplinary Scientific GeoConference EXPO Proceedings, 2014
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Papers by Blanka Giertliova