Abstract
The aim of the research is to empirically establish the existence of interdependence of profitability and liquidity. The research is based on cause-and-effect relationships of profitability and liquidity variables. The results are consistent with the financial theory according to which the existence of liquidity does not automatically mean an influence on profitability variables. A limitation of the study is the sample size. The contribution is in the analysis of the continuous relationship of the influence of profitability and the causal and consequent relationships with liquidity
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