engleski

Evaluation of business sectors through financial indicators and stock indices

Analysis of the economic conditions in individual business sector contributes to evaluation of its investment opportunities and contribution to economic growth. The aim of this paper is to evaluate the potential and the current performance of specific business sector using financial indicators and capital market trends. One of the objectives is also to compare performance of certain financial ratios and values of equity indices for different business sector. The paper presents a scoring model of evaluation of individual business sector using both financial indicators and sectoral equity indices. The analysis in this paper was conducted by the evaluation of specific financial indicators and equity sectoral indices of selected business sectors in Croatia. The analysis of financial indicators was carried out by distributing enterprises in economic sectors according to the NKD 2007. The analysis covered the annual financial reports of enterprises in the period from 2008 to 2014, based on the data of the Bisnode Ltd. Selected sectors in this research are food production and processing, industrial production, construction sector, the transport sector and the tourism sector. Capital market trends were evaluated using econometric methodology on values of sectoral equity indices on Zagreb Stock Exchange. The final score and comparison of each sector is conducted through weighted scoring model based on combination of certain financial and market indicators. As a result, it can be concluded that industrial production sector in Croatia shows the highest level of growth potential comparing to other analysed sectors. The opposite situation is detected in the construction sector, which is characterized by almost exclusively negative features.

Business sectors; sectoral development and efficiency; financial indicators; sectoral stock exchange indices; Croatia

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