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https://doi.org/10.22598/pi-be/2021.15.1.41

THE IMPACT OF CAPITAL STRUCTURE ON THE PROFITABILITY: A CASE OF CROATIAN, SLOVENIAN AND CZECH LISTED COMPANIES

Eleonora Kontuš ; Grad Kastav, Kastav, Hrvatska


Puni tekst: hrvatski pdf 664 Kb

str. 41-62

preuzimanja: 365

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Sažetak

The main purpose of the study was to investigate the impact of capital structure
on the profitability of listed companies in the members of European Union. The empirical
research was based on a sample of Croatian, Slovenian and Czech listed companies and
multiple linear regression on cross sectional data was used for research data analysis.
The research findings indicate that the retained earnings to capital ratio has a positive
and significant impact on the profitability of listed companies in the Republic of Croatia
as well as long-term debt to capital and short-term debt to capital ratios have a negative
impact on the profitability of listed companies. The empirical results show that the
retained earnings to capital ratio has a positive impact on the profitability of listed
companies in the Republic of Slovenia while long-term debt to capital and short-term
debt to capital ratios have a negative impact on the profitability of listed companies. The
results indicate that the capital structure affects the profitability of listed companies
differently in the Czech Republic. This study makes several contributions to the field: the
impact of capital structure components on corporate profitability is determined as well
as the capital structure decisions affect corporate profitability of listed companies in the
members of European Union. The capital structure of listed companies in the members
of European Union is relevant for the profitability because the retained earnings to
capital ratio has a statistically significant impact on the profitability of listed companies.

Ključne riječi

capital structure, equity, retained earnings, long-term debt, profitability

Hrčak ID:

257989

URI

https://hrcak.srce.hr/257989

Podaci na drugim jezicima: hrvatski

Posjeta: 736 *