Article metrics

  • citations in SCindeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[=>]
  • visits in previous 30 days:24
  • full-text downloads in 30 days:21
article: 2 from 3  
Back back to result list
Škola biznisa
2018, iss. 2, pp. 165-177
article language: Serbian
document type: Professional Paper
published on: 18/04/2019
doi: 10.5937/skolbiz2-20549
Creative Commons License 4.0
Profitability and liquidity of trading companies in the Republic of Serbia
Visoka poslovna škola strukovnih studija, Novi Sad

e-mail: sanjavbegovic@gmail.com

Abstract

Bearing in mind that the commercial sector is considered the most vital and the most resistant part of the economy, there was a need to examine the profitability of trading companies. The sample consists of 41 trading companies of medium and large size that operate in the Republic of Serbia. Analyzed companies are engaged in retail, wholesale and motor vehicles trade. The results of the research showed that the gross and net profit margins in the observed years are on average higher in the middle sized compared to large sized trading enterprises. Middle sized trading companies on average have rate of return on assets higher for approximetely 2% then large trading companies, while their rate of return on invested capital is on average higher for 8% to 10%. Average values of net and gross profit margins are highest for companies that are engaged in trade of motor vehicles, and the lowest for retail companies. Wholesale companies and companies that are engaged in trade of motor vehicles are liquid, while retail companies are illiquid.

Keywords

References

Brealey, A.R., Myers, C.S., Marcus, J.A. (2001) Fundamentals of Corporate Finance. McGraw-Hill
Chang, C., Lee, A.C., Lee, C.F. (2009) Determinants of capital structure choice: A structural equation modeling approach. Quarterly Review of Economics and Finance, 49(2): 197-213
Čavlin, M.S. (2015) Strategic analysis of the performance of companies trading pharmaceutical products in the Republic of Serbia: As a integrated system of indicators. Megatrend revija, vol. 12, br. 1, str. 237-256
Dakua, S. (2018) Effect of determinants on financial leverage in I ndian steel industry: A study on capital structure. International Journal of Finance & Economics, 1-10
Daskalakis, N., Balios, D., Dalla, V. (2017) The behaviour of SMEs' capital structure determinants in different macroeconomic states. Journal of Corporate Finance, (46): 248-260
Domazet, I., Filimonović, D., Pantić, O. (2014) Trade and EU accession: The case of Serbia. Ekonomika preduzeća, vol. 62, br. 3-4, str. 217-227
Ekonomski institut (2018) Makroekonomske analize i trendovi. Beograd, br. 284
Fabozzi, F., Peterson, P. (2003) Financial Management and Analysis. Hoboken, NJ: John Wiley & Sons
Goel, U., Chadha, S., Sharma, A.K. (2015) Operating Liquidity and Financial Leverage: Evidences from Indian Machinery Industry. Procedia - Social and Behavioral Sciences, (189): 344-350
Kayo, E.K., Kimura, H. (2011) Hierarchical determinants of capital structure. Journal of Banking & Finance, 35(2): 358-371
Knežević, G., Stanišić, N., Mizdraković, V. (2013) Analiza finansijskih izveštaja. Beograd: Univerzitet Singidunum
Lovreta, S., Petković, G., Pindžo, R. (2013) Priorities in commerce and tourism development policy. Ekonomika preduzeća, vol. 61, br. 1-2, str. 129-147
Lukić, R. (2010) Analiza profitabilnosti trgovine u Srbiji. Škola biznisa, 15-23; 4
Lukić, R. (2014) Analiza profita po zaposlenom u trgovini Srbije. Ekonomski vidici, vol. 19, br. 4, str. 449-464
Lukić, R., Molnar, D. (2016) Troškovi energije u maloprodaji. Ekonomski vidici, vol. 21, br. 4, str. 289-305
Ministarstvo privrede (2017) Izveštaj o malim i srednjim preduzećima i preduzetništvu. Beograd
Mohanty, B., Mehrotra, S. (2018) The Effect of Liquidity Management on Profitability: A Comparative Analysis of Public and Private Sector Banks in India. IUP Journal of Bank Management, 17(1): 7-20
Pavlović, M., Lazić, J. (2005) Uticaj makroekonomskog razvoja Srbije na rast i razvoj trgovinskih preduzeća u Srbiji. Industrija, vol. 33, br. 2-3, str. 103-119