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master's thesis
OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA
diplomski rad
2016. urn:nbn:hr:124:273585
Vuković, Mija
University of Split
Faculty of economics Split

Cite this document

Vuković, M. (2016). OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad (Master's thesis). Split: University of Split, Faculty of economics Split. Retrieved from https://urn.nsk.hr/urn:nbn:hr:124:273585

Vuković, Mija. "OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad." Master's thesis, University of Split, Faculty of economics Split, 2016. https://urn.nsk.hr/urn:nbn:hr:124:273585

Vuković, Mija. "OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad." Master's thesis, University of Split, Faculty of economics Split, 2016. https://urn.nsk.hr/urn:nbn:hr:124:273585

Vuković, M. (2016). 'OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad', Master's thesis, University of Split, Faculty of economics Split, accessed 31 January 2025, https://urn.nsk.hr/urn:nbn:hr:124:273585

Vuković M. OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad [Master's thesis]. Split: University of Split, Faculty of economics Split; 2016 [cited 2025 January 31] Available at: https://urn.nsk.hr/urn:nbn:hr:124:273585

M. Vuković, "OBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad", Master's thesis, University of Split, Faculty of economics Split, Split, 2016. Available at: https://urn.nsk.hr/urn:nbn:hr:124:273585

Metadata
TitleOBILJEŽJA PODUZEĆA KAO DETERMINANTE STRUKTURE KAPITALA : diplomski rad
AuthorMija Vuković
MentorSandra Pepur (mentor)
GranterUniversity of Split
Faculty of economics Split
Split
Defense date and country2016-05, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Struktura kapitala se testira prema teoriji izbora i teoriji hijerarhije. Prema teoriji izbori poduzeća teže postići optimalnu razinu zaduženosti u točki prema kojoj su koristi i troškovi duga jednaki. S druge strane, prema teoriji hijerarhije poduzeća preferiraju financiranje novih investicijskih projekata internim sredstvima (zadržana dobit), a potom obveznicama i dionicama. U ovom radu se analizira utjecaj specifičnih obilježja poduzeća na razinu zaduženosti SME sektora Splitsko-dalmatinske županije na uzorku od 150 poduzeća (50 mikro, 50 malih i 50 srednjih) u razdoblju od 2008. godine do 2013. godine. Zavisna varijabla ovog istraživanja je koeficijent zaduženosti (ukupne obveze/ukupna imovina), a nezavisne varijable čiji se utjecaj na strukturu kapitala promatranih poduzeća ispituje su: profitabilnost, udio materijalne imovine, veličina poduzeća, rast poduzeća i likvidnost. Rezultati ukazuju da model SME sektora SDŽ podupire teoriju hijerarhije prema kojoj se poduzeća najprije financiranju interno generiranim sredstvima, a potom slijede drugi oblici vanjskog financiranja.
Abstract (english)
The capital structure is tested according to the trade off theory and pecking order theory. According to the trade off theory company chooses how much debt finance and how much eguity finance to use by balancing the costs and benefits. On the other hand, according to the pecking order theory companies prefer to finance new investment projects by internal funds (retained earnings), followed by bonds and shares. This paper analysis the impact of the specific firm characteristics to the level of debt of the SME sector in Split-Dalmatia County on a sample of 150 companies (50 micro, 50 small and 50 medium) in the period from 2008 to 2013. The dependent variable of this research is the debt ratio (total liabilities / total assets), the independent variable variable of research about impact on capital structure are: profitability, tangible assets, size, grow and liquidity. The results indicate that the model of SMEs supports the pecking order theory of to which the company financing internally generated funds, then with other forms of external financing.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:124:273585
Study programmeTitle: Business Studies
Study programme type: university
Study level: graduate
Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
Type of resourceText
File originBorn digital
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2016-09-22 10:55:39