Professional paper
COMPARATIVE ANALYSIS OF FINANCIAL SECURITY INDICATORS BETWEEN DOMESTIC AND FOREIGN PROMOTION AGENCIES*
Suzana Keglević Kozjak
orcid.org/0000-0003-1931-9161
; Faculty of Organization and Informatics, University of Zagreb, Varaždin, Croatia
Nikolina Smetiško
; Faculty of Organization and Informatics, University of Zagreb, Varaždin, Croatia
Abstract
Following the 2008 financial crisis, which has affected most of the world economy, increasing attention turns towards financial security indicators. Therefore, in this paper, financial security indicators related to liquidity and indebtedness form the main research basis. The research sample was formed from the population of Croatian and foreign promotion agencies, according to the criteria of total revenues in 2017. Given that promotion agencies are a large generator of high-quality jobs, foster competition and innovations, and contribute to the development of the cultural sector, such companies are an interesting choice for conducting the analysis. Comparative analysis of the financial security indicators of the most successful domestic and foreign promotion agencies is conducted in this paper. The results of the research show that domestic agencies easier adapt to market conditions, and because of this, they are more financially secure compared to foreign agencies, which generated significantly higher turnover and profit. This is mainly due to the smaller size of the domicile promotion agencies rather than the international ones.
Keywords
promotion agency; liquidity indicators; indebtedness indicators
Hrčak ID:
236229
URI
Publication date:
15.3.2020.
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