The thesis deals with comparison of the banking markets of Czech Republic, Slovakia, Slovenia and Lithuania in size and rentability of their banks with distribution on banks with domestic owners and the banks in foreign banking group. There is also the comparative analysis in selected indicators of these two units. To the comparison is used the financial analysis. First part of thesis is dealed to the methodics of selection countries, banks, reports, indicators etc. In second part is analysed banking market of each country and the types of banks are compared together on the basis of several indicators. Third part deals with total comparison of two banking units over all countries.

Background: Dividend and dividend policy is a research topic that is well known and frequently studied in financial economics. However there is no definite answer to if the dividend has an effect on the firm's value. The research surrounding dividend and its effect on firms value have shown a variety of different results. Aim: The purpose of this paper is to analyze the impact of the main independent variable dividend and control variables; total assets, revenue and Earnings Before Interest and Taxes (EBIT) on the dependent variable stock price. Method: The paper will be done in a quantitative approach based on a deductive research approach. The sample data of 60 companies for this study will be collected through Business Retriever, Orbit, Morningstar and annual reports of each company between the years 2011 to 2020. Results: The results in this study show that dividend has a statistically significant effect on the stock price of the companies observed. Furthermore the results indicate that Earnings Before Interest and Taxes, EBIT, has amedium-strong relationship with stock price, which shows a small significant association. The study could not prove that revenues and total assets have an effect on stock price in the regression analysis. However in the correlation analysis it was shown that there was a reasonable relationship between the dependent variable and the independent variables.

I Sverige har det sedan år 1983 varit obligatoriskt enligt lag att inneha revision. Grundorsaken till att den obligatoriska revisionsplikten trädde i kraft var på grund av en konstant ökning av ekonomisk brottslighet. År 2010 avskaffades revisionsplikten för små aktiebolag. Konsekvensen av avskaffandet av revisionsplikten bidrog till att majoriteten av de små aktiebolagen uteslöt revision från dess verksamhet. Sedan lagen om den frivilliga revisionsplikten har debatten kring återinförandet av den obligatoriska revisionen varit ett omdiskuterat ämne. Det förekommer en mängd olika faktorer som kan påvisa orsaken till försämrade siffror i bolagen. I denna studie undersöks skillnaden mellan bolag som innehar respektive uteslutit revision i relation till tillväxt av tre nyckeltal över tid. Bolagen som undersöks består enbart av mindre aktiebolag i Sverige inom bygg-, design- och inredningsverksamhet branschen. Följaktligen undersöks tre beroende variabler som omfattas av nyckeltalen: antalet anställda, nettoomsättning och balansomslutning. Undersökningen baseras på en granskning av årsredovisningar mellan åren 2011–2020. Studien utgår från en kvantitativ forskningsmetod med hypoteser som kärnpunkt. De statistiska analyserna är utförda genom det parametriska testet tvåvägs- ANOVA med upprepade mätningar och det icke parametriska testet Mann-Whitney U test. Undersökningen baserades på ett urval på totalt 120 mindre aktiebolag och med hjälp av verktyget G* Power bestämdes studiens urvalsstorlek. Studien utgår från ett antal teorier, dessa omfattar legitimitetsteorin och resursberoendeteorin. Resultatet av studien påvisade ett förkastande av samtliga nollhypoteser, vilket innebär att de föreligger en signifikant skillnad mellan tillväxt och de angivna nyckeltalen. Vidare kan det bekräftas att det föreligger en signifikant skillnad mellan tillväxten av de undersökta nyckeltalen i de bolagen med respektive utan revision.Nyckelord: Antal anställda, Nettoomsättning, Balansomslutning, Revision, Revisor, Tillväxt / In Sweden, it has been mandatory by law since 1983 to have an auditor. The main reason why the mandatory audit obligation came into force was due to a constant increase in financial crime. It was in 2010 that the audit obligation was abolished for small, limited companies. The consequence of the abolition of the audit obligation resulted in many small, limited companies excluding the audit from their companies. The debate on there introduction of the mandatory audit has been a controversial topic. There are several different factors that indicate the cause of deteriorating figures in companies. This studyexamines the difference over time between companies that have maintained or excludedauditing in relation to the growth of three key ratios. The companies examined consist only of small, limited companies in Sweden in the construction, design and interior design industry. Consequently, three dependent variables which include the key ratios number of employees, net sales and total assets are examined. The method is based on a review of annual reports between the years 2011–2020. The study is based on a quantitative research method with hypotheses as a core point. The statistical tests were performed by implementing the two-way repeated measures ANOVA and Mann-Whitney U test. The sample size was determined by the tool G*Power and a total of 120 smaller limited companies were examined. The study is based on several theories which include the theory of legitimacy and the theory of resource dependence. The results of the study shows a rejection of all null hypotheses, which means that there is a significant difference between growth and the stated key ratios. Furthermore, the results of the study can confirm that there is a significant difference between the growth of the key ratios examined in the companies that have maintained auditing and those that have not.

The purpose of the study is to examine the application of selected variables from previous studies when applied to the capital structure of Swedish publicly traded companies. Five variables will be used to examine whether they have a similar effect on the capital structure of Swedish companies. The study is a quantitative research that is made up of data that was collected from two chosen line of businesses on the Swedish market, industrials and medicine. A large quantity of data was collected from 135 companies during the time period 2013-2017, the data was processed and converted before a regression analysis was performed. According to the regression analysis this study received the following result from the industrial line of business: the variable with the most explanatory effect regarding the capital structure was liquid assets, profitability, turnover assets, total assets (size) and tangible assets. In the medicine line of business the following variables had the most explanatory effects: liquid assets, total assets (size), turnover assets, tangible assets and profitability. The study shows the extent to which the variables are significant and what impact they have on debt in the Swedish market. The result was different between the industries, which is an interesting aspect to note that different variables were applied with different strengths in the industries depending on the company's financial position. Liquid assets were the variable that had the greatest connection to the degree of indebtedness in both industries in the Swedish market. The result regarding the variables used in this study had greater similarity in its applicability between the two industries in Sweden than the similarity to an earlier studyconducted in Romania with similar variables.

Thesis (MBA.) -- University of Limpopo, 2022 / This research aimed to find out if there is a link between government financial assistance to small-scale hotels and their financial performance in Limpopo province, South Africa. The objectives of the study is to examine the impact of government financial assistance on three financial performance measures, namely, sales turnover, net profits and net asset growth of the small scale-hotels. The research used a quantitative approach. Secondary panel data was collected from the financial statements of six small-scale hotels from 2015 to 2018. Data were analyzed using multiple regression model to arrive at the conclusion. The findings from the data analysis reveal that government financial assistance positively and significantly impact the growth in sales turnover and net profits of the small-scale hotels. Furthermore, the findings show that there is no significant relationship between government financial assistance and net asset growth of small scale hotels. The findings of this research have practical implications for the companies operating in the small-scale hotel sector. In addition, the findings of this study is important for the policy makers, as it highlights the policy gaps existing in the sector. The study recommends further research to examine the relationship between government financial assistance to small-scale hotels and their financial performance.

Denna studies syfte var att analysera sex nyckeltal och se vilka samband dessa hade på riskbuffert sysselsatt kapital. Studien utfördes på 796 små byggbolag i Sverige under perioden 2009–2016 med hjälp av en binär logistisk regressionsanalys. Som teoretisk referensram användes working capital management och finansiell oro. Studien resulterade i att kapitalets omsättningshastighet, skuldränta och rörelsekapital/totala tillgångar uppvisade signifikanta negativa samband med riskbuffert sysselsatt kapital. Räntetäckningsgrad och avkastning på totalt kapital resulterade i signifikanta positiva samband med riskbuffert sysselsatt kapital. Skuldsättningsgrad resulterade intressant nog i ett icke signifikant negativt samband. Slutligendiskuterades byggbolagens sannolikhet för finansiell oro utifrån respektive nyckeltal. / The aim of this study was to examine the relation between six independent key ratios with riskbuffer on capital employed. The study was conducted on 796 small construction enterprises in Sweden during 2009–2016 with a binary logistic regression model. As theoretical framework, working capital management and financial distress was applied. The study concluded that the capital turnover rate, interest payable and working capital to total assets had significant negative relations with riskbuffer on capital employed. However, the interest cover ratio and return on total assets were both significant positively related withriskbuffer on capital employed. Debt-to-equity ratio resulted interestly enough in a nonsignificant negative relation. Lastly, with regards taken to every respective key ratio, the probability of financial distress among the construction firms was discussed.

This thesis investigates the determinants of UK corporate cash holdings between 1980 and 2012. The global and long term phenomenon of corporate cash pilling has drawn significant attention from researchers. Similarly, this study aims at shedding light on the empirical relationship between cash holding and specific firm characteristics. Our preliminary research incorporates a comprehensive literature review. Towards this end, the relevant financial theory is presented and the previous empirical studies are highlighted. Afterwards, the expected results of our research are synthesized into a set of distinct hypotheses and tested with regression analysis. The empirical findings suggest that cash holdings are positively related to investment opportunity, as R&D and market to book ratio. Cash ratio is also positively related to industry cash flow volatility and negatively affected by cash flow, net working capital, capital expenditures, leverage, tax expenses, age and size. Regarding the development of the determinants of cash holdings, the study indicates that three major variables influenced cash holdings over the years of analysis. In particular, leverage, tax regime and capital expenditures significantly affect the corporate liquidity in UK market. Furthermore, the results suggest that cash holdings are mostly defined by trade off theory. Indeed, our findings offer stimulating insights on the factors that determine the firms’ cash holdings during the past three decades. These findings may be beneficial for financial managers, investors and consultants. / Στην παρούσα διατριβή εξετάζονται οι προσδιοριστικοί παράγοντες του δείκτη μετρητών σε επιχειρήσεις του Ηνωμένου Βασιλείου μεταξύ των ετών 1980 και 2012. Η διακράτηση μετρητών αποτελεί παγκόσμιο φαινόμενο και λαμβάνει της ανάλογης προσοχής από πληθώρα ερευνητών. Σε αυτή τη βάση, η μελέτη αυτή έχει ως στόχο να ρίξει φως σχετικά με την εμπειρική σχέση μεταξύ του δείκτη μετρητών και τα συγκεκριμένα χαρακτηριστικά που επηρεάζουν την ρευστότητα στις επιχειρήσεις διαχρονικά. Αρχικά η έρευνα ενσωματώνει μια βιβλιογραφική ανασκόπηση. Προς το σκοπό αυτό, οι σχετικές οικονομικές θεωρίες και οι προηγούμενες εμπειρικές μελέτες παρουσιάζονται. Στη συνέχεια, τα αναμενόμενα αποτελέσματα της έρευνας συντίθενται σε ένα σύνολο διακριτών υποθέσεων και δοκιμάζονται με ανάλυση παλινδρόμησης. Τα εμπειρικά ευρήματα υποδηλώνουν ότι ο δείκτης μετρητών σχετίζεται θετικά με τις επενδυτικές ευκαιρίες, τις δαπάνες Ε&Α και τον λόγο της αγοραίας προς τη λογιστική αξία των βιβλίων της επιχείρησης. Ο δείκτης μετρητών επίσης, σχετίζεται θετικά με την μεταβλητότητα των ταμειακών ροών του κλάδου και επηρεάζεται αρνητικά από τις ταμειακές ροές, το καθαρό κεφάλαιο κίνησης, τις κεφαλαιακές δαπάνες, την μόχλευση, τα φορολογικά έξοδα, την ηλικία και το μέγεθος των επιχειρήσεων. Όσον αφορά την εξέλιξη των προσδιοριστικών παραγόντων των ταμειακών ρευστών διαθεσίμων, η μελέτη δείχνει ότι τρεις είναι οι κύριες μεταβλητές που επηρεάζουν τη διακράτηση μετρητών κατά τη διάρκεια των χρόνων της ανάλυσης. Ειδικότερα, η μόχλευση, το φορολογικό καθεστώς και τις κεφαλαιακές δαπάνες επηρεάΖουν σημαντικά την απόφαση για εταιρική ρευστότητα στην αγορά του Ηνωμένου Βασιλείου. Επιπλέον, τα αποτελέσματα δείχνουν ότι η διακράτηση μετρητών ακολουθεί κυρίως την trade off θεωρία. Πράγματι, τα ευρήματά προσφέρουν χρήσιμες γνώσεις σχετικά με τους παράγοντες που καθορίζουν τη διακράτηση μετρητών των επιχειρήσεων κατά τη διάρκεια των τριών τελευταίων δεκαετιών. Τα ευρήματα αυτά μπορεί να είναι επωφελή για οικονομολόγους, επενδυτές και συμβούλους.

Från 1900-talets början har banker och låneinstitut använt nyckeltal som hjälpmedel vid bedömning och kvantifiering av kreditrisk. För dagens investerare är den ekonomiska miljön mer komplicerad än för bara 40 år sedan då teknologin och datoriseringen öppnade upp världens marknader mot varandra. Bedömning av kreditrisk idag kräver effektiv analys av kvantitativa data och modeller som med god träffsäkerhet kan förutse risker. Under 1900-talets andra hälft skedde en snabb utveckling av de verktyg som används för konkursprediktion, från enkla univariata modeller till komplexa data mining-modeller med tusentals observationer. Denna studie undersöker om det är möjligt att prediktera att svenska företag kommer att gå i konkurs och vilka variabler som innehåller relevant information för detta. Metoderna som används är diskriminantanalys, logistisk regression och överlevnadsanalys på 50 aktiva och 50 företag försatta i konkurs. Resultaten visar på en träffsäkerhet mellan 67,5 % och 75 % beroende på vald statistisk metod. Oavsett vald statistisk metod är det möjligt att klassificera företag som konkursmässiga två år innan konkursens inträffande med hjälp av finansiella nyckeltal av typerna lönsamhetsmått och solvensmått. Samhällskostnader reduceras av bättre konkursprediktion med hjälp av finansiella nyckeltal vilka bidrar till ökad förmåga för företag att tillämpa ekonomistyrning med relevanta nyckeltal i form av lager, balanserad vinst, nettoresultat och rörelseresultat. / From the early 1900s, banks and lending institutions have used financial ratios as an aid in the assessment and quantification of credit risk. For today's investors the economic environment is far more complicated than 40 years ago when the technology and computerization opened up the world's markets. Credit risk assessment today requires effective analysis of quantitative data and models that can predict risks with good accuracy. During the second half of the 20th century there was a rapid development of the tools used for bankruptcy prediction. We moved from simple univariate models to complex data mining models with thousands of observations. This study investigates if it’s possible to predict bankruptcy in Swedish limited companies and which variables contain information relevant for this cause. The methods used in the study are discriminant analysis, logistic regression and survival analysis on 50 active and 50 failed companies. The results indicate accuracy between 67.5 % and 75 % depending on the choice of statistical method. Regardless of the selected statistical method used, it’s possible to classify companies as bankrupt two years before the bankruptcy occurs using financial ratios which measures profitability and solvency. Societal costs are reduced by better bankruptcy prediction using financial ratios which contribute to increasing the ability of companies to apply financial management with relevant key ratios in the form of stock , retained earnings , net income and operating income.