In the debate whether country factors are typically more variable than sector factors, sparked off by e.g. Roll (1991) and Heston and Rouwenhorst (1994), one of the few uncontested facts is that the addition of emerging markets (EMs) does boost the ratio of country-factor variance relative to...

Since Roll (The Journal of Finance 47(1):3-41, 1992) and Heston and Rouwenhorst (Journal of Financial Economics 36:3-27, 1994), there has been a debate whether country factors in international stock returns are typically more variable than sector factors. The addition of emerging markets (EMs)...

Usualmente los textos de finanzas presentan por lo menos un capítulo sobre análisis financiero, entendido como análisis de razones financieras. Se enseñan muchos cursos en análisis financiero y se gasta una enorme cantidad de tiempo en cómo calcular las razones financieras basados en...

Раскрывается необходимость корректировки бухгалтерского баланса на суммы отложенных налоговых активов и отложенных обязательств. Обосновывается выбор...

The objective of the present empirical study is to show, through a confirmatory factor analytic approach, that it is possible to obtain a complete, yet parsimonious, financial characterisation of a manufacturing SME through a limited number of essential indicators. An a priori classification...

The objective of the present empirical study is to show, through a confirmatory factor analytic approach, that it is possible to obtain a complete, yet parsimonious, financial characterisation of a manufacturing SME through a limited number of essential indicators. An a priori classification...

The paper aims to present the main financial ratios which provide a picture about company’s profitability, its financial position, use of its assets efficiency, its long-term debt financing. Discussion is focused on: profitability ratios, short-term financial ratios, activity ratios, long-term...