Abstrakt:
Investment decision making is one of the most important activities in the industrial company. New, not widespread techniques provide abnormal rates of returns, but more their idiosyncratic risk is high. That is why the systematic risk is driven with “an old obsolete” wide spread technique of manufacturing. In these consequences it is useless to improve modern techniques immediately. The investment decision making is also dependent on the rate of physical capital taxation and the expected inflation. More the stimulation of modern investment comes from the support via tax savings or due to low nominal interest rate (which means low inflation rate). It is also important to say that the innovation leaders in investment have taken advantage in their business. This is said to by the essential driver for strategic management thinking. In this article we provide the empirical evidence of presented topic in the Czech Republic for last period. Concretely we present the interdependence between the firm´s value and the technological progress in the data sample of the Czech Republic. In the end, need to say that in crisis it is hard to enforce more investment targets in contrary with the managerial benefits or dividends trends.