Corporate Performance: A Ratio-Based Approach to Country and by Julia Koralun-Bereźnicka

By Julia Koralun-Bereźnicka

This booklet provides the comparative review of foreign and commercial components affecting the monetary situation of agencies. within the theoretical half, the result of past study at the incidence of the rustic and impression within the monetary wellbeing and fitness of businesses are reviewed. the purpose of the empirical learn is to figure out such elements – nationwide or commercial ones – that experience a better influence at the company functionality within the chosen eu Union international locations. company functionality is measured and defined with using a wide set of primary ratios. company functionality is accordingly handled as a extra complicated topic inspired by means of such facets as profitability, liquidity, operating capital and solvency. The e-book in particular analyses the significance of private businesses of all sizes, that is additionally infrequent as present study focuses frequently on public businesses because of the info constraints. ​

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Extra resources for Corporate Performance: A Ratio-Based Approach to Country and Industry Analyses

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1990). Similar rules should be followed when constructing bankruptcy prediction models on the basis of financial data from two groups of companies: the bankrupts, and the healthy companies, where each pair of firms is from the same industrial sector. e. after removal of the industrial mean (Lev, 1974). Almost equally important as the industry effect is the effect of company size. It has been shown in the literature that small firms differ from the large ones in a number of ways. Studies on the size effect and the way it impacts financial ratios have a long history (Hall, 1987), as expanded upon later in this chapter.

However, the ratios 3 and 18 may serve as an example of dissimilar variables as they measure different business areas: monetary situation and profitability. Furthermore, these variables do not have to show a similar way of variability; the increase of ratio 3 may be accompanied by the decline of the ratio 18, which would be unlikely in the previous couple of ratios. Although the factor analysis used in this study, does not fully resolve all the problems of ratios classification, it offers a more reliable basis for the creation of taxonomies.

However, in most industries with relatively low ratio of earnings to sales, companies face a relatively high turnover. Another factor is the credit terms, or – more broadly – the cost and availability of capital, which might be convenient in certain industries, while in others – limited for example due to cash sale only. In a similar manner, the performance of enterprises in an industry is affected by the labour factors, including its availability, cost and level of employees’ qualifications. 2 The cost structure, where the ratio of fixed to variable costs of production varies depending on the type of activity, could also be taken as a feature differentiating between industries (Kotler, 1994, p.

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