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Izvorni znanstveni članak
https://doi.org/10.1515/bsrj-2016-0007

Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013

Martin Luptak ; Bureau Van Dijk, Slovak Republic
Daniel Boda ; Szent Istvan University, Hungary
Gabor Szucs ; Creditreform Hungary, Hungary

Puni tekst: engleski, pdf (364 KB) str. 89-103 preuzimanja: 545* citiraj
APA 6th Edition
Luptak, M., Boda, D. i Szucs, G. (2016). Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013. Business Systems Research, 7 (1), 89-103. https://doi.org/10.1515/bsrj-2016-0007
MLA 8th Edition
Luptak, Martin, et al. "Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013." Business Systems Research, vol. 7, br. 1, 2016, str. 89-103. https://doi.org/10.1515/bsrj-2016-0007. Citirano 14.06.2021.
Chicago 17th Edition
Luptak, Martin, Daniel Boda i Gabor Szucs. "Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013." Business Systems Research 7, br. 1 (2016): 89-103. https://doi.org/10.1515/bsrj-2016-0007
Harvard
Luptak, M., Boda, D., i Szucs, G. (2016). 'Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013', Business Systems Research, 7(1), str. 89-103. https://doi.org/10.1515/bsrj-2016-0007
Vancouver
Luptak M, Boda D, Szucs G. Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013. Business Systems Research [Internet]. 2016 [pristupljeno 14.06.2021.];7(1):89-103. https://doi.org/10.1515/bsrj-2016-0007
IEEE
M. Luptak, D. Boda i G. Szucs, "Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013", Business Systems Research, vol.7, br. 1, str. 89-103, 2016. [Online]. https://doi.org/10.1515/bsrj-2016-0007

Sažetak
Background: Profitability of the Hungarian wine industry has been a focus of numerous research studies due to the centuries-old history and the recent changes. Objectives: The aim of the study is to analyse the capital structure of the Hungarian and the French wine industries and demonstrate the benefits of the usage of an international company database. Methods/Approach: First, the database and the applied methods are described and then the descriptive statistical analysis of the industry is presented. The two set hypotheses are aimed at testing the main contradiction between the pecking order and the trade-off theory, which is related to profitability and the usage of external funds. Results: The analysis examines the differences between the funding policies applied in the two countries. This was carried out by means of a discriminant analysis, which indicates the financing characteristics of French and Hungarian wine producers. In order to confirm the results of the discriminant analysis we conducted a cluster analysis on the same sample where 3 out of 4 variables proved to be significant in classifying the two groups. Conclusions: The main conclusion of the study is that the behaviour of the factors explaining the development of the capital structure differs significantly in the two examined countries.

Ključne riječi
capital structure; discriminant analysis; profitability; Hungary; France; wine

Hrčak ID: 158303

URI
https://hrcak.srce.hr/158303

Posjeta: 856 *