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- Title
CONSIDERATIONS ON FINANCIAL AUTONOMYOF AGRICULTURAL COMPANIES AND CAPITAL EFFICIENCY (CASE STUDY).
- Authors
Jităreanu, Andy-Felix; Leonte, Elena; Chiran, Aurel; Alexandru-Dragoş, Robu; Mihai-Bogdan, Cîmpanu
- Abstract
Ensuring financial autonomy of agricultural companies will be assessed and supported using liabilitiesstructurerates, respectively, of equity and borrowed capitals. Also, the company's capacity to meet financial commitments is measured by ratios expressing indebtedness and the liquidity - solvency extent. The company's financial independence is ensured by a structure adequate to its financial profile and is evaluated using the following rates: financial stability rate; current level of funding; globaland on term financial autonomy rate; globaland on term borrowing rate. By simply viewing the structure of liabilitiesgraph and by the size of installments, the high share of current liabilities with a maturity over one year in total financing sources can be observed. The case study was carried out at S.C. AGROMEC DRAGALINA S.R.L., which produces cereal, sunflower, rapeseed, sugar beet and soy. Analysing the achieved and soldproduction, a significant increase is observed due to an increase in cultivated areas, along with crop diversification and achieving higher total production (+ 17%) and the influence of increasing selling prices. In 2007, as the reference year, assetsfunding was more stable and more effective: - a global financial autonomy ensured by equity of 16.29%; - subsidies for investments accounted for 21.2%; - a high current through debt financing with maturities up to one year of22.02% - a share of long-term debt in total liabilities of40.49%.
- Subjects
ROMANIA; AGRICULTURE; INDUSTRIAL capacity; AGRICULTURAL industries; ECONOMICS; LIQUIDITY (Economics); AGRICULTURAL subsidies; CORPORATE debt financing
- Publication
Analele Universitatii din Oradea, Fascicula Ecotoxicologie, Zootehnie si Tehnologii în Industria Alimentara, 2016, p126
- ISSN
1583-4301
- Publication type
Article