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The Influence Of Financial Policies On Return On Assets Ratio. An Econometric Study For Romanian Manufacturing Firms

Author

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  • Mogoseanu Daniela Bianca

    (University of Craiova Faculty of Economics and Business Administration)

Abstract

In this article we have identified the determinants of the return on assets ratio for the Romanian manufacturing firms over the period 2006 to 2011 using a fixed effects model. More exactly, the independent variables we included are: liquidity ratio; debt ratio; tangibility ratio; return on equity ratio; labour productivity ratio; return on sales ratio; depreciation and amortization ratio; leverage ratio; turnover’s growth rate. Therefore, we have identified the influence of the financial and investment policies on return on assets ratio.

Suggested Citation

  • Mogoseanu Daniela Bianca, 2013. "The Influence Of Financial Policies On Return On Assets Ratio. An Econometric Study For Romanian Manufacturing Firms," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(41), pages 197-204.
    • Handle: RePEc:aio:aucsse:v:1:y:2013:i:41:p:197-204
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    File URL: http://feaa.ucv.ro/AUCSSE/0041v1-029.pdf
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    References listed on IDEAS

    as
    1. Christopher F Baum, 2001. "Residual diagnostics for cross-section time series regression models," Stata Journal, StataCorp LP, vol. 1(1), pages 101-104, November.
    2. Tibor Lalinsky, 2013. "Firm competitiveness determinants: results of a panel data analysis," Working and Discussion Papers WP 4/2013, Research Department, National Bank of Slovakia.
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    More about this item

    Keywords

    return on assets; debt level; efficiency; manufacturing firms; profitability; investment policies;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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