Vliv likvidity a rentability na využití zdrojů financování ve zpracovatelských podnicích v zemích V4

Abstract

The analysis of influence of liquidity and profitability on the use of debt financing sources is the object of this research. Exploring just these dependencies is based on the idea as far as debt resources must have positive impact on the functioning of companies, it must obtain the best possible conditions. Whereas acquisition of financial sources in the V4 countries is primarily focused on the banking sector, it is expected that companies, whose profitability is an increasing tendency in time and whose liquidity is stable, respectively growing, provide loans under the best conditions. This statement would thus confirm the results of the trade-off theory of capital structure. The aims of this article is finding answer to question whether there is a positive functional relationship between the independent variables (liquidity and profitability) and the dependent variable (using debt sources) in the manufacturing companies in the Visegrad group's countries of during 2006 and 2013 years.