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The Financial Analysis of the Hungarian Automotive Industry Based on Profitability and Capital Structure Ratios

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  • Gabor Szucs

Abstract

The present study aims to investigate the economic processes taking place in the Hungarian automotive industry primarily by means of descriptive and multivariate statistical models. The purpose of the analysis is to present the performance of the sector via the ratios describing the operation. First the database and the applied methods - which are the factor and cluster analysis - will be described. Statement of the results begins with a descriptive statistical analysis of the financial ratios, where besides market share we get a whole picture of the operation of the determinative companies of the branch and the factors influencing the last six years. The capital structure ratios are examined in a separate chapter, where the changes of the last 10 years can be followed. The multivariate statistical models try to present a complex picture of the characteristics of the economic field and the underlying boundaries by means of the different ratios. On the basis of these findings, the study concludes that the automotive industry, which is named as a driving force of the economy, maintains its unbroken momentum predominantly due to the foreign-owned segment. Despite the given circumstances, the role of the liabilities is not of great importance.

Suggested Citation

  • Gabor Szucs, 2015. "The Financial Analysis of the Hungarian Automotive Industry Based on Profitability and Capital Structure Ratios," Central European Business Review, Prague University of Economics and Business, vol. 2015(1), pages 61-73.
    • Handle: RePEc:prg:jnlcbr:v:2015:y:2015:i:1:id:119:p:61-73
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    Keywords

    automotive industry; capital structure; principal component analysis; cluster analysis;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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