THE EVOLUTION OF PROFITABILITY OF ROMANIAN ENTERPRISES FROM KEY AREAS OF ACTIVITY DURING THE WORLD-WIDE FINANCIAL CRISIS

Iulia Oana Stefan
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Iulia Oana Stefan: University of Craiova Faculty of Economics and Business Administration

Annals of University of Craiova - Economic Sciences Series, 2012, vol. 3, issue 40, 177-186

Abstract: It is well known that the over-publicized financial crisis has endangered, and continues to do so,the wellbeing and even the survival of most companies, both worldwide and in Romania. In the present paper I intend to analyse, in both comparison and dynamics, for the last three years of crisis (2009,2010,2011), the evolution of profitability of 12 romanian companies, listed on Bucharest Stock Exchange, from 4 areas of activity, respectively, food industry, constructions, oil industry and device manufacturing. In order to achieve this goal, based on the data from both the balance sheets and profit and loss accounts of these companies, in the framework of the article have been calculated the main rates of return, respectively, the economic, the financial, the operational costs and the sales rates of return, in order to observe the remuneration level of certain key elements, such as assets, capitals, revenues or expenses. The level of these rates has been calculated both for each company and as a domain average. Also,certain specific ratios for listed companies, such as Price to Earnings Ratio or Price to Book Value have been determined, in order to observe correlations with the capital market evolution.

Keywords: profitability; rates of return; financial crisis; listed companies specific ratios; correlations (search for similar items in EconPapers)
JEL-codes: G01 G39 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:3:y:2012:i:40:p:177-186

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