Review article
Using financial parameters to identify elements of creating and retaining maritime firms’ stakeholder value within the value in use concept
Sonja Brlečić Valčić
; Saipem SpA Croatian Branch, Rijeka, Croatia
Jana Katunar
; University of Rijeka, Faculty of Economics, Rijeka, Croatia
Hrvoje Katunar
; University of Rijeka, Faculty of Economics, Rijeka, Croatia
Abstract
The creation and retention of stakeholder value in the value in use concept are parts of modern business models oriented towards sustainable business, which depends on the entity’s ability to create stable cash flows. In order to be able to identify the parameters on which business processes depend and based on them create and preserve the value, it is important to analyses the financial parameters and their relationships. Therefore, within this research the authors analyses the financial indicators of maritime companies and brings them in relation with the creation and preservation of cash
flow. Based on previous scientific research, the obtained results are brought into relation with prior identified qualitative factors associated with the creation and preservation of stakeholder value. The results showed that the proposed measurements: working capital, changes in non-cash working capital, return on equity (ROE), business excellence model (BEX), the index value creation (ex2), liquidity (ex3), return on assets (ROA) and capital turnover ratio, proved to be effective for testing the stability of cash flow, which is an important indicator of value creation.
Keywords
Value creation; Value retention; Stakeholder value; Free cash flow; The value in use; Maritime firms
Hrčak ID:
140346
URI
Publication date:
30.6.2015.
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