Naslov
PANEL VAR ANALYSIS OF THE INTERDEPENDENCE OF CAPITAL STRUCTURE AND PROFITABILITY

Autori
Vinšalek Stipić, Valentina ; Ružić, Vlatka

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Economic and Social Development / Machrafi, M. ; Uckar, D. ; Susak, T. - Rabat : VADEA ; Sveučilište Sjever, 2022, 177-187

Skup
79th International Scientific Conference on Economic and Social Development

Mjesto i datum
Rabat, Maroko, 25.05.2022. - 26.05.2022

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Capital structure, Indebtedness, Profitability, ROA, ROE, PVAR model

Sažetak
In the last few decades, considerable attention has been paid to determining the capital structure in order to achieve optimal efficiency of the companies. For companies, whether private or public, capital structure management is of great importance. Therefore, the aim of the research is to determine the interdependence of capital structure and profitability of large Croatian companies using the VAR model panel. With respect to the temporal and spatial component, the variables (Capital Structure – SCAP ; Debt Ratio – DA ; Return on Assets – ROA ; Return on Equity – ROE) are structured as balanced panel data. In order to determine the mutual causality between the observed variants, the Granger causality test for the data plate and PVAR was performed, as part of which the analysis Forecast Error Variance Decomposition and the analysis of the Orthogonal Impulse Response Function were processed. The sample includes large Croatian companies that are active, while variables as panel data are obtained from the financial statements for the period from 2016 to 2020. The obtained research results show a significant cause of variability in capital structure and indebtedness from profitability.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA