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master's thesis
Utjecaj strukture kapitala na profitabilnost poduzeća
Split: University of Split, Faculty of economics Split, 2017. urn:nbn:hr:124:464865
Mamut, Jelena
University of Split
Faculty of economics Split

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Mamut, J. (2017). Utjecaj strukture kapitala na profitabilnost poduzeća (Master's thesis). Split: University of Split, Faculty of economics Split. Retrieved from https://urn.nsk.hr/urn:nbn:hr:124:464865

Mamut, Jelena. "Utjecaj strukture kapitala na profitabilnost poduzeća." Master's thesis, University of Split, Faculty of economics Split, 2017. https://urn.nsk.hr/urn:nbn:hr:124:464865

Mamut, Jelena. "Utjecaj strukture kapitala na profitabilnost poduzeća." Master's thesis, University of Split, Faculty of economics Split, 2017. https://urn.nsk.hr/urn:nbn:hr:124:464865

Mamut, J. (2017). 'Utjecaj strukture kapitala na profitabilnost poduzeća', Master's thesis, University of Split, Faculty of economics Split, accessed 30 November 2024, https://urn.nsk.hr/urn:nbn:hr:124:464865

Mamut J. Utjecaj strukture kapitala na profitabilnost poduzeća [Master's thesis]. Split: University of Split, Faculty of economics Split; 2017 [cited 2024 November 30] Available at: https://urn.nsk.hr/urn:nbn:hr:124:464865

J. Mamut, "Utjecaj strukture kapitala na profitabilnost poduzeća", Master's thesis, University of Split, Faculty of economics Split, Split, 2017. Available at: https://urn.nsk.hr/urn:nbn:hr:124:464865

Metadata
TitleUtjecaj strukture kapitala na profitabilnost poduzeća
AuthorJelena Mamut
MentorSandra Pepur (mentor)
MBZ: 274383
GranterUniversity of Split
Faculty of economics Split
Split
Defense date and country2017-09, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Među mnogim faktorima, odnos profitabilnosti i strukture kapitala je srž mnogih znanstvenih radova te temelj raznovrsnih teorija strukture kapitala. Prema teoriji redoslijeda pakiranja, financijski menadžer ima određene preferencije prema razliĉitim načinima financiranja. Prema tome, nove investicijske prilike će ponajprije financirati interno generiranim sredstvima, potom nisko rizičnim dugom, konvertibilijama pa emisijom dionica. U ovom radu korišten je uzorak od 84 velikih poduzeća uvrštenih na redovno tržište Zagrebačke burze u razdoblju od 2014-2016 godine. Pri regresijskoj analizi je za zavisnu varijablu odabrana profitabilnost poduzeća izražena pokazateljem ROA odnosno pokazateljem P/E. U nezavisne varijable uključene su: koeficijent zaduženosti, logaritamska vrijednost materijalne imovine, obrtaj zaliha, tekuća likvidnost i zadržana dobit. Rezultati regresijske analize pokazuju negativnu vezu između zaduženosti i profitabilnosti čime se potvrđuje teorija redoslijeda pakiranja.
Abstract (english)
Between many factors, the relationship between profitability and capital structure is at the core of many scientific researches and the foundation of several capital structure theories. According to the pecking order theory, a financial manager has specific preferences towards different ways of financing investments. Thus, new investment opportunities will be financed preferably via internally generated funds at first, then with low-risk debt, convertibles and finally, issuing new shares. In this research, the sample includes 84 large companies listed on the Zagreb stock exchange in the time period form 2014-2016. While using the regression analysis, the company’s profitability has been chosen as the dependent variable. Profitability was expressed with ROA or the P/E ratio. The independent variables include: company efficiency, the log value of material assets, liquidity, lagged profitability and, as the most important variable, indebtedness. The results of the regression analysis show a negative relationship between indebtedness and profitability, which confirms the pecking order theory.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:124:464865
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 on2017-11-15 09:39:30