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Companies'Financial Status And The Business Turnover On Emergent Markets: The Romanian Case

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  • Stefea Petru

    ()
    (West University of Timisoara, Faculty of Economics and Business Administration)

  • PANTEA Mioara

    ()
    ("Aurel Vlaicu" University of Arad, Faculty of Economic Sciences)

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    Abstract

    The aim of this study is to test for the relevance of some financial ratios as descriptors of companies' financial status in explaining the evolutions of their business turnover. We are considering a data sample of 36 companies quoted on the Romanian capital market for a time span between 2007 and 2010.The predictive capacity of some significant financial ratios for the companies' business turnover is analyzed and a methodology for the evaluation of their financial status based on these ratios is advanced. We found that the predictive capacity of some relevant financial ratios for the dynamic of some quoted companies' turnovers is non-uniform across the two conventional sectors in which we have grouped these companies according to their field of activity. Based on these results, an synthetic indicator of the companies' financial status is constructed at the level of each individual sector and the non-linear correlation between this indicator and the business turnover is tested.

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    File URL: http://anale.steconomiceuoradea.ro/volume/2013/n1/073.pdf
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    Bibliographic Info

    Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

    Volume (Year): 1 (2013)
    Issue (Month): 1 (July)
    Pages: 683-696

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    Handle: RePEc:ora:journl:v:1:y:2013:i:1:p:683-696

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    Related research

    Keywords: financial ratios; business turnover; financial status;

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    1. Gian Luca Clementi & Hugo Hopenhayn, 2002. "A Theory of Financing Constraints and Firm Dynamics," RCER Working Papers 492, University of Rochester - Center for Economic Research (RCER).
    2. Kwiatkowski, D. & Phillips, P.C.B. & Schmidt, P., 1990. "Testing the Null Hypothesis of Stationarity Against the Alternative of Unit Root : How Sure are we that Economic Time Series have a Unit Root?," Papers 8905, Michigan State - Econometrics and Economic Theory.
    3. Bierens, Herman J, 2000. "Nonparametric Nonlinear Cotrending Analysis, with an Application to Interest and Inflation in the United States," Journal of Business & Economic Statistics, American Statistical Association, vol. 18(3), pages 323-37, July.
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