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Leichter Rückgang der Cash-Flow-Quote. Die Ertragskraft der österreichischen Sachgütererzeugung 2013

Author

Listed:
  • Werner Hölzl
  • Klaus S. Friesenbichler
  • Kerstin Hölzl

    (Austrian Institute for SME Research)

Abstract

Im Jahresdurchschnitt 2013 lag die Cash-Flow-Umsatz-Relation in der österreichischen Sachgütererzeugung nach aktuellen Schätzungen mit 9,0% deutlich unter dem langjährigen Durchschnitt von 9,6%. Die reale Wertschöpfung der Sachgütererzeugung wuchs 2013 wie im Vorjahr um nur 1,2%. Die damit seit zwei Jahren anhaltende Wachstumsschwäche dürfte die Entwicklung der Ertragskraft leicht gedämpft haben: Die Cash-Flow-Umsatz-Relation sank gemäß der Schätzung mit einem dynamischen panelökonometrischen Modell für die Branchen der Sachgütererzeugung um 0,2 Prozentpunkte.

Suggested Citation

  • Werner Hölzl & Klaus S. Friesenbichler & Kerstin Hölzl, 2014. "Leichter Rückgang der Cash-Flow-Quote. Die Ertragskraft der österreichischen Sachgütererzeugung 2013," WIFO Monatsberichte (monthly reports), WIFO, vol. 87(8), pages 569-580, August.
    • Handle: RePEc:wfo:monber:y:2014:i:8:p:569-580
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    References listed on IDEAS

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    1. Werner Hölzl, 2014. "Persistence, survival, and growth: a closer look at 20 years of fast-growing firms in Austria," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(1), pages 199-231, February.
    2. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
    3. Adelina Gschwandtner & Val E. Lambson, 2006. "Sunk Costs, Profit Variability, and Turnover," Economic Inquiry, Western Economic Association International, vol. 44(2), pages 367-373, April.
    4. Lambson, Val Eugene & Jensen, Farrell E, 1995. "Sunk Costs and the Variability of Firm Value over Time," The Review of Economics and Statistics, MIT Press, vol. 77(3), pages 535-544, August.
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    1. Klaus S. Friesenbichler & Werner Hölzl & Susanne Bärenthaler-Sieber & Kerstin Hölzl, 2018. "Cash-Flow-to-Sales Ratio Increased in 2017. Profitability of the Austrian Manufacturing Sector," WIFO Bulletin, WIFO, vol. 23(11), pages 96-106, October.
    2. Klaus S. Friesenbichler & Werner Hölzl & Kerstin Hölzl, 2017. "Cash-Flow-to-Sales Ratio 2016 Remains Stable at a High Level. Profitability of Austrian Manufacturing Sector," WIFO Bulletin, WIFO, vol. 22(13), pages 123-132, August.
    3. Klaus S. Friesenbichler & Werner Hölzl & Kerstin Hölzl, 2016. "Cash-Flow-to-Sales Ratio Unchanged in 2015. Profitability of Austrian Manufacturing," WIFO Bulletin, WIFO, vol. 21(14), pages 136-145, November.

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