Every corporation has an economic and moral responsibility to its stockholders to perform well financially. However, the number of bankruptcies in Slovakia has been growing for several years without an apparent macroeconomic cause. To prevent a rapid denigration and to prevent the outflow of foreign capital, various efforts are being zealously implemented. Robust analysis using conventional bankruptcy prediction tools revealed that the existing models are adaptable to local conditions, particularly local legislation. Furthermore, it was confirmed that most of these outdated (...) tools have sufficient capability to warn of impending financial problems several years in advance. A novel bankruptcy prediction tool that outperforms the conventional models was developed. However, it is increasingly challenging to predict bankruptcy risk as corporations have become more global and more complex and as they have developed sophisticated schemes to hide their actual situations under the guise of “optimization” for tax authorities. Nevertheless, scepticism remains because economic engineers have established bankruptcy as a strategy to limit the liability resulting from court-imposed penalties. (shrink)

The production of renewable energy in agricultural biogas plants is being widely criticized because—among other things—most of the feedstock comes from purpose-grown crops like maize. These activities generate competitive pressure to other crops that are used for feeding or food production, worsening their affordability. Unique pretreatment technology that allows substitution of the purpose-grown crops by farming residues was built 6 years ago on a commercial basis in Pěčín under modest funding and without publicity. The design of the concept; financial assessment (...) and moral viewpoint were analyzed based on practical operating data. It showed that the apparatus improves economic, environmental and moral acceptance as well. However, according to the government’s view, public funding for this type of processing was shortened, “because waste materials represent a lower cost”. The impact of such governance was analyzed as well. (shrink)

The trend of emerging biorefineries is to process the harvest as efficiently as possible and without any waste. From the most valuable phytomass, refined medicines, enzymes, dyes and other special reactants are created. Functional foods, food ingredients, oils, alcohol, solvents, plastics, fillers and a wide variety of other chemical products follow. After being treated with nutrient recovery techniques, biofuels or soil improvers are produced from the leftovers. Economic optimization algorithms have confirmed that such complex biorefineries can be financially viable only (...) when a high degree of feedstock concentration is included. Because the plant material is extremely voluminous before processing, the farming intensity of special plants increases in the nearest vicinity of agglomerations where the biorefineries are built for logistical reasons. Interdisciplinary analyses revealed that these optimization measures lead to significantly increased pollen levels in neighbouring urban areas and subsequently an increased risk of allergies, respectively costs to the national health system. A new moral dilemma between the shareholder’s profit and public interest was uncovered and subjected to disputation. (shrink)

A new trend in the production technology of solid biof uels has appeared. There is a wide consensus that most solid biofuels will be produced according to the new production methods within a few years. Numerous samples were manufactured from agro-residues according to conventional methods as well as new methods. Robust analyses that reviewed the hygienic, environmental, financial and ethical aspects were performed. The hygienic and environmental aspect was assessed by robust chemical and technical analyses. The financial aspect was assessed (...) by energy cost breakdown. The ethical point of view was built on the above stated findings, the survey questionnaire and critical discussion with the literature. It is concluded that the new production methods are significantly favourable from both the hygienic and environmental points of view. Financial indicators do not allow the expressing of any preference. Regarding the ethical aspect, it is concluded that the new methods are beneficial in terms of environmental responsibility. However, it showed that most of the customers that took part in the survey are price oriented and therefore they tend to prefer the cheaper—conventional alternative. In the long term it can be assumed that expansion of the new technology and competition among manufacturers will reduce the costs. (shrink)