Los parámetros característicos de las empresas manufactureras de alta rentabilidaduna aplicación del análisis discriminante

Laburpena

This research work sets which are the economic and financial characteristics that most distinguish high profitability manufacturing companies from low profitability ones. For that purpose we start from the information held in the annual accounts of every company that deposits them in the Commercial Register of Asturias, and discriminant analysis is applied to the data of the base constituted this way. The main results indicate that the most profitable firms have a higher level of short term liquidity and a higher financial charges-to-debt ratio. This may be undestood as a signal of the fact that poor performing firms in terms of profitability are financed mainly with credits from suppliers, wich have no explicit costs. Furthermore, the results of the inclusion of tendency variables in the analysis show that the best performing companies have increased their levels of solvency and short term liquidity.