Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/109815 
Autor:innen: 
Erscheinungsjahr: 
2008
Quellenangabe: 
[Journal:] European Financial and Accounting Journal [ISSN:] 1805-4846 [Volume:] 3 [Issue:] 4 [Publisher:] University of Economics, Faculty of Finance and Accounting [Place:] Prague [Year:] 2008 [Pages:] 45-69
Verlag: 
University of Economics, Faculty of Finance and Accounting, Prague
Zusammenfassung: 
Using 4-dimensional panel data (time, industry, country, companies) we examine the differences between European quoted and non-quoted companies at the level financial performance and some financial ratios. We find that quoted companies perform significantly better not only in terms of profit, but also in terms of cash flow generation. We also find some interesting differences in financial structure, liquidity and collection and credit period, not only from the perspective of quotation, but also between European regions (thus different trade habits), e.g. significantly longer credit period and collection period for countries with more relaxed trade habits (Spain, Italy, France). Our findings have some indirect implications for agency theory, for view of different accounting standards conservatism and earnings management, as well as (mainly) for business and stock valuation and financial planning.
Schlagwörter: 
Profitability
quotation
agency cost
JEL: 
G12
G14
G39
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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