GRODZIĆ, Vanja, Branislav MARIĆ, Mladen RADIŠIČ, Jarmila ŠEBESTOVÁ and Marcin LIS. Capital Investments and Manufacturing Firms’ Performance: Panel-Data Analysis. Lis Marcin. Sustainability. 2020, vol. 12, No 4, p. 1689-1706. ISSN 2071-1050. Available from: https://dx.doi.org/10.3390/su12041689.
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Basic information
Original name Capital Investments and Manufacturing Firms’ Performance: Panel-Data Analysis
Authors GRODZIĆ, Vanja (688 Serbia, guarantor), Branislav MARIĆ (688 Serbia), Mladen RADIŠIČ (688 Serbia), Jarmila ŠEBESTOVÁ (203 Czech Republic, belonging to the institution) and Marcin LIS (616 Poland).
Lis Marcin.
Edition Sustainability, 2020, 2071-1050.
Other information
Original language English
Type of outcome Article in a journal
Field of Study 50204 Business and management
Country of publisher Switzerland
Confidentiality degree is not subject to a state or trade secret
WWW URL
RIV identification code RIV/47813059:19520/20:A0000131
Organization unit School of Business Administration in Karvina
Doi http://dx.doi.org/10.3390/su12041689
UT WoS 000522460200407
Keywords in English capital investments; firm performance; profitability; sustainability; panel data
Tags International impact, Reviewed
Changed by Changed by: doc. Ing. Jarmila Duháček Šebestová, Ph.D., učo 19986. Changed: 14/8/2020 14:11.
Abstract
The main goal of this study was to examine the effects of capital investments on firm performance, using panel-data analysis. For this purpose, financial data were gathered for 60 manufacturing firms based in Serbia, in the period from 2004 to 2016. The main research hypotheses were developed in accordance with the definition, nature, and time aspect of capital investments. Therefore, empirical expectation of this study was that the relationship between capital investments and firm performance should be positive—they probably bring losses to the firm in the short term, but they should increase firm performance in the long term. Finally, the results have indeed shown that capital investments have statistically significant negative effect on the short-term performance, but positive effect on the long-term performance of the analyzed firms, while controlling for time-fixed effects and certain internal factors.
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