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master's thesis
UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA
Diplomski rad
2019. urn:nbn:hr:124:053760
Šumberac, Sunčica
University of Split
Faculty of economics Split

Cite this document

Šumberac, S. (2019). UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad (Master's thesis). Split: University of Split, Faculty of economics Split. Retrieved from https://urn.nsk.hr/urn:nbn:hr:124:053760

Šumberac, Sunčica. "UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad." Master's thesis, University of Split, Faculty of economics Split, 2019. https://urn.nsk.hr/urn:nbn:hr:124:053760

Šumberac, Sunčica. "UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad." Master's thesis, University of Split, Faculty of economics Split, 2019. https://urn.nsk.hr/urn:nbn:hr:124:053760

Šumberac, S. (2019). 'UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad', Master's thesis, University of Split, Faculty of economics Split, accessed 07 November 2024, https://urn.nsk.hr/urn:nbn:hr:124:053760

Šumberac S. UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad [Master's thesis]. Split: University of Split, Faculty of economics Split; 2019 [cited 2024 November 07] Available at: https://urn.nsk.hr/urn:nbn:hr:124:053760

S. Šumberac, "UTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad", Master's thesis, University of Split, Faculty of economics Split, Split, 2019. Available at: https://urn.nsk.hr/urn:nbn:hr:124:053760

Metadata
TitleUTJECAJ LIKVIDNOSTI NA PROFITABILNOST PODUZEĆA : Diplomski rad
AuthorSunčica Šumberac
MentorSandra Pepur (mentor)
MBZ: 274383
GranterUniversity of Split
Faculty of economics Split
Split
Defense date and country2019-06, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
S obzirom na utjecaj likvidnosti na profitabilnost poduzeća, koji može biti pozitivan i negativan, balansiranje između te dvije kategorije neizostavna je zadaća financijskog menadžmenta. Premda je održavanje zadovoljavajuće likvidnosti nužno za održivo i posljedično profitabilno poslovanje, veliki udio likvidne imovine u portfeljima poduzeća može narušiti njihove profite. Sukladno teoriji o postojanju kompromisa između likvidnosti i profitabilnosti (eng. liquidity-profitability trade-off), potonje je posljedica visokog oportunitetnog troška držanja likvidne imovine koja uobičajeno donosi niži povrat. U ovom se radu ispituje utjecaj likvidnosti na profitabilnost poduzeća na uzorku od 150 hrvatskih poduzeća u razdoblju od 2013. do 2017. godine. Sukladno rezultatima panel analize, likvidnost mjerena pokazateljem tekuće likvidnosti, pokazateljem ubrzane likvidnosti i pokazateljem trenutne likvidnosti nema statistički značajan utjecaj na profitabilnost mjerenu povratom na ukupnu imovinu, ROA. Ipak, ograničenja istraživanja kao što je previše kratak i specifičan analizirani vremenski period što se ogleda u djelomičnoj obuhvaćenosti ekonomskog ciklusa poslije kriznim razdobljem, heterogenost uzorka koji se sastoji od poduzeća koja pripadaju različitim djelatnostima te potencijalno obrnuti odnos između likvidnosti i profitabilnosti, sugeriraju da bi dobivene rezultate trebalo promatrati s oprezom.
Abstract (english)
Considering the impact of company's liquidity on profitability, which can be positive or negative, balancing between those two categories is inevitable task of financial management. Although maintaining adequate liquidity is necessary for sustainable and consequently profitable business operations, large share of liquid assets in portfolio can deteriorate company's profits. According to liquidity – profitability trade-off, the letter is a consequence of high opportunity cost of holding liquid assets which typically receive lower returns. This paper examines the impact of liquidity on company's profitabiliy using the sample of 150 Croatian companies in the period from 2013 to 2017. According to the results of panel data analyses, liquidity measured by current ratio, quick ratio and cash ratio does not have statistical significant impact on profitability measured by return on assets, ROA. However, limitations of research such as short and specific analyzed period in terms of partial economic cycle and post-crisis time, heterogeneity of the sample i.e. companies from different activities and potentially inverse relationship between liquidity and profitability suggest the results should be taken with caution.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:124:053760
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 on2019-12-12 14:41:06