Acta academica karviniensia 2019, 19(2):55-67 | DOI: 10.25142/aak.2019.014

Konkurenceschopnost podniků vyjádřená vztahem mezi strukturou zdrojů financování a likviditou podniků v zemích Visegradské čtyřky

Markéta Šeligová

Slezská univerzita, Obchodně podnikatelská fakulta, Univerzitní nám. 1934/3,733 40 Karviná

The aim of this paper is to determine the effect of the structure of funding sources on liquidity of companies in energy sector in the Visegrad group from 2006 to 2015. With the purpose to fulfill the aim, we examine existence and character of relationship between the structure of funding sources (debt equity ratio, equity ratio, return on equity, return on assets and fixed assets to total assets) and liquidity of the companies in energy sector in Visegrad group. The existence of relationship between the structure of funding sources and liquidity of companies is tested by correlation analysis and generalized method of moments (GMM). The results show that there is the negative impact of return on assets on liquidity of companies in the Visegrad group. The liquidity of companies was positively influenced by the return on equity and negatively influenced by debt equity ratio in energy sector in the Visegrad group.

Klíčová slova: correlation, debt equity ratio, equity ratio, fixed assets, liquidity of companies, GMM, return on ekvity.

JEL classification: G32

Vloženo: 18. říjen 2018; Revidováno: 29. říjen 2018; Přijato: 19. červen 2019; Zveřejněno: 1. červenec 2019  Zobrazit citaci