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Indebtedness of small and medium-sized wineries in Slovakia

Author

Listed:
  • Jana Ladvenicová

    (Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia)

  • Dominika Čeryová

    (Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia)

  • Iveta Košovská

    (Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia)

  • Jozef Palkovič

    (Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia)

  • Matej Čereš

    (Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia)

Abstract

Many companies depend on debt sources; they use them to finance their needs. Bank loans are the main debt sources to which companies have access. However, financing only with this source is associated with many risks. The paper's main goal is to assess and quantify the indebtedness of wineries in Slovakia for 2013-2021 through individual debt ratios. The influence of financial leverage on return on equity (ROE) was tested. The data were drawn from the Register of Financial Statements. From the point of view of the total debt ratio, wineries show values higher than 65%. The presence of short-term debts, especially short-term liabilities, prevailed. The average share of equity reached a very low value of 11%. The average share of bank loans on financing operating activities was very low at the level of 8.53%. The return on assets (ROA) was lower than the cost of debt in most wineries, which means that increasing indebtedness had a negative effect on ROE.

Suggested Citation

  • Jana Ladvenicová & Dominika Čeryová & Iveta Košovská & Jozef Palkovič & Matej Čereš, 2025. "Indebtedness of small and medium-sized wineries in Slovakia," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 71(1), pages 27-45.
    • Handle: RePEc:caa:jnlage:v:71:y:2025:i:1:id:31-2024-agricecon
    DOI: 10.17221/31/2024-AGRICECON
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