Working Capital Management in Bulgarian Public Companies – Empirical Analysis during the Financial and Economic Crisis and Post-Crisis Recovery

Authors

Keywords
financial analysis, working capital management, financial and economic crisis

Summary
Modern financial analysis has become more responsible in line with the growing role and functions of financial management for providing reliable information base. It materializes in new control procedures and methodological approaches to analysis that identify more precisely the impact of the external environment and internal resources to maintain the balance between profitability and liquidity. Examined trends in Bulgarian companies have shown variable profitability of current assets as a result of dynamically changing turnover and uncertainty in terms of sales. Low profitability and return on total assets was the result of the negative effect of long-term investment policy before and during the crisis of 2007. Sound liquidity ratios demonstrate stable performance through its adjustment by changes in short-term liabilities and the rise in overall liquidity reflects the priorities of financial management for balanced management of working capital.

JEL: G01, G32
Pages: 13
DOI: 

More titles

  • Social and Solidarity Economy – Democratic Association, Mutual Aid and Cooperation

    The author of this article attempts to clarify the nature, specificity and role of social and solidarity economy in the modern world. She also discusses to what extent it should be the focus of attention of economic sociology as a science in the context of the relation with its subject matter, and which approaches and theories in sociology and ...

  • Conceptual Aspects of Social Digital University

    The development of information technologies in direct proportion to the growth of technology and media for social interaction, sharing of resources and management of the relationship between objects and subjects of these processes, incl. university education systems requires improvements in their direction trinity "social network - content ...

  • Survey of the Support for HTTPS in the Electronic Stores of Bulgarian Small and Middle-Sized Enterprises

    This article presents an empirical survey, conducted in May 2016 and again in January 2017 with the help of software for automated penetration testing. The survey encompasses fixed set of 480 electronic stores, belonging to small and middle-sized enterprises in Bulgaria. The goal of the survey is to determine to what extent such enterprises manage ...