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Results and financial structure of firms in 2009

Author

Listed:
  • David Vivet

    (National Bank of Belgium, Microeconomic Information Department)

Abstract

The article looks at the financial situation of non-financial corporations in Belgium over the period from 1 January to 31 December 2009. After briefly describing the methodology and the population studied, it presents an extrapolation of the main operating result items for 2009. It assesses then the financial situation of companies as regards profitability and solvency. Since last year, the scope of this assessment has been widened to cover the entire population : apart from the medians, the first and third quartiles, as well as the tenth and ninetieth percentiles, have been studied too. Finally, the article gives some insight into the relation between financial ratios’ distribution and bankruptcy risk. This insight shows for instance that the relation between solvency and bankruptcy risk is markedly negative : the higher the solvency, the lower the bankruptcy risk, and vice versa. The same kind of relation can be derived for other variables, such as profitability or debt ratios.

Suggested Citation

  • David Vivet, 2010. "Results and financial structure of firms in 2009," Economic Review, National Bank of Belgium, issue iii, pages 107-132, December.
  • Handle: RePEc:nbb:ecrart:y:2010:m:december:i:iii:p:107-132
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    File URL: https://www.nbb.be/doc/oc/repec/ecrart/ecoreviii2010_h6.pdf
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    References listed on IDEAS

    as
    1. Reint Gropp & Jukka Vesala, 2004. "Deposit Insurance, Moral Hazard and Market Monitoring," Review of Finance, European Finance Association, vol. 8(4), pages 571-602.
    2. Douglas W. Diamond & Philip H. Dybvig, 2000. "Bank runs, deposit insurance, and liquidity," Quarterly Review, Federal Reserve Bank of Minneapolis, pages 14-23.
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    Citations

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    Cited by:

    1. Claude Mathys, 2011. "Economic importance of the Belgian ports: Flemish maritime ports, Liège port complex and the port of Brussels – Report 2009," Working Paper Document 215, National Bank of Belgium.

    More about this item

    Keywords

    firms’ results; financial structure; bankruptcy risk; sectoral analysis; distribution analysis;

    JEL classification:

    • D39 - Microeconomics - - Distribution - - - Other
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L80 - Industrial Organization - - Industry Studies: Services - - - General

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