Distinctive determinants of financial indebtedness: evidence from Slovak and Czech enterprises

Research background: Indebtedness indicators are used to monitor the structure of corporate financial resources. The company's share its own and foreign resources affects stability company. A high re-sources makes company stable, independent. With a low share, on contrary, is unstable, market fluctuations credit uncertainty can have serious consequences. However, capital cheaper, too indebtedness ratios jeopardize existence enterprises.
 Purpose article: In general, economic recession worsens enterprises, especially their debt management. Thus, paper aims apply set 13 sample 779 Slovak Czech enterprises from construction sector determine key microeconomic determinants that may influence level indebtedness.
 Methods: non-parametric one-way analysis variance ? Kruskal-Wallis test was whether same across countries, districts, sizes. For analyzing specific pair stochastic dominance, pairwise comparison realized using Dunn'stest with Bonferonni correction. Mann-Whitney compare differences in between two independent groups based legal form country.
 Findings & value added: total ratio self-financing depends region as well size enterprise form. case debt-to-cash-flow indebted-ness, dependence obvious. importance vice versa, affect independence ratio. These outputs relevant for au-thorities, policy makers, or institutions identify constraints face and, result, make long-term contribution theory this field.