While performing its current activity, a company can face two types of risks: the operating risk and the financial risk. The combined effect of these risks obviously influences the shareholders’ earnings. In order to quantify this effect, we have used the degree of combined leverage,...

The performances are an important objective of management and the financial analysis uses several indicators that could measure the success of an organization. But performances may have different significances for stakeholders, depending on their necessity for information. In this paper, we...