Determinants of Hospital's Financial Liquidity

Bem, Agnieszka; Prędkiewicz, Katarzyna; Prędkiewicz, Paweł; Ucieklak-Jeż, Paulina

doi:10.1016/s2212-5671(14)00317-7

Cited by 33 publications

(61 citation statements)

References 6 publications

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“…To correlate return on assets with the rest of the variables, statistical methods have been applied (using the IBM SPSS Statistics 22 statistical program), including Kolmogorov-Smirnov normality tests; tests of homogeneity as determined by the Levene statistic; Student's t-test for independent samples and correlation tests using Pearson's correlation coefficient (Bem et al, 2014(Bem et al, , 2015.…”

Section: Methodsmentioning

confidence: 99%

“…Various authors (Bem, Predkiewicz, Predkiewicz & Ucieklak-Jez, 2014;Bem, Predkiewicz, Ucieklak-Jez & Siedlecki, 2015;Benton, 2013;Coyne, 1982;Gapenski, Vogel & Langland-Orban, 1993) have found that explanatory variables of profitability are varied, but those that have the greatest influence are indebtedness and solvency (as internal variables) and market evolution, business size and geographical area (as external variables). Regarding external variables, Amat (2000) states that the evolution of external aspects conditions the development of any company, and there is a high correlation between the economy (defined in terms of Gross Domestic Product (GDP)) and the trend of company results (profitability).…”

Section: Review Of the Literaturementioning

confidence: 99%

“…Regarding the internal variables, variables that are directly linked to economic profitability are debt, solvency and productivity (Bem et al, 2014(Bem et al, , 2015Vélez-González, Pradhan & Weech-Maldonado, 2011). Specifically, the lowest-performing hospital centers are the ones that are most indebted.…”

Section: Review Of the Literaturementioning

confidence: 99%

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Influential variables in the profitability of hospital companies

Creixans

Serrat

2018

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Purpose: This study attempts to evidence the economic and financial health of Spanish hospital companies in the period [2008][2009][2010][2011][2012][2013][2014][2015] and discover the variables that explain their profitability for survival and the opportune performance of their assets during a period of technological revolution and austerity. Design/methodology:The study methodology consists of the short and long-term financial analysis of the companies in the study sample during the period 2008-2015, together with analysis is of their economic state, equity and treasury. To add value to the research, the profitability of the hospital companies has been explained in terms of the following independent variables: short-term solvency, debt, business size, legal form, GDP per capita, population density of and indicators of Corporate Social Responsibility. Findings:In the analyzed period, the economic and financial health of hospital companies is characterized by acceptable liquidity and indebtedness that significantly influence its profitability; this is accompanied by good financial and expenditure management, though it is necessary to improve the management of assets. Research limitations/implications:It was not possible to obtain data for 2016, as it was not available in the database used (SABI). These data would have been useful to evaluate the changes in trends that are taking place in the health sector due to the technological revolution and economic policies affecting it. Practical implications:The health sector is one of the pillars on which society is based, and therefore knowing detailed economic and financial information allows us to make appropriate decisions, both on the hospital level and in terms of the economic policies of governments. Social implications:This study provides evidence of the financially relevant indicators that healthcare companies must control for their survival and to provide proper service to society in general. The research also identifies non-financial variables that contribute to improving the profitability of hospital companies, while also having a good impact on society. Originality/value:To indicate financial and non-financial measures to improve the profitability of hospital companies at a time of technological innovation and austerity.

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Section: Methodsmentioning

confidence: 99%

Section: Review Of the Literaturementioning

confidence: 99%

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Influential variables in the profitability of hospital companies

Creixans

Serrat

2018

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“…The empirical results are near to those expectations (Figures 2-5). Bem et al (2014a), claim that the liquidity management area, or broadly speaking, the working capital management, is still considered secondary and that the concept of the financial situation assessment with the financial liquidity is to be a key area (Bem et al 2014b). Such paper is one from an attempts in changing such a perspective.…”

Section: Model and Datamentioning

confidence: 99%

Full operating cycle influence on the food and beverages processing firms characteristics

Michalski¹

2016

AGR ECON-CZECH

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External factors resulting from the economic situation surrounding the company interact with the operating cycle of the overall enterprise operational risk which is reflected in the level of the cash held. At the core of the research hypothesis of the paper, there is the belief that the level of cash and cash management policies in the enterprise in an integrated manner with other elements resulting from the operating cycle contribute to moderating the risk of the enterprise and that it can be shown using empirical data from the companies operating effectively in the practice business. The full operation cycle is connected with a higher probability of imperfection in the realization business cycle. The aim of the management of cash is to define the resources of cash in the firm at such a level that it contributes to the highest increase in the owners' property. In other words, it is about bringing the firm's held liquid resources to a level that is optimal from the point of view of the balanced costs of maintaining liquidity and the total cost of holding a too low level of resources. The type and size of these costs is partly dependent on the financial strategy conducted by the firm (Michalski 2014b). The relationship between the level of cash and other current assets, such as the previously discussed inventory and accounts receivable, depends on the specificity of the firm. Firms operating in a situation of high uncertainty and risk will have relatively higher cash resources -compared to the level of other current assets. Another element that may affect the growth of the average level of cash in the enterprise and increase their relative share in the structure of current assets is the amount of the costs of transactions and the cost of capital. Generally, it is recommended that the level of each of these current assets like cash, inventories, and receivables, be analysed separately. Connections between them are then taken into account when designing the cash poll. The approach to cash management in enterprises is different from the approach taken in large companies. As in most cases, when the owner controls all matters pertaining to the cash in the enterprise, it is possible for the owner to flexibly adapt the cash management models to a much greater extent than in the case of companies in which the knowledge of the individual areas related to the inflows and outflows of cash is distributed among many employees, or even between different branches of the enterprise. Based on the observations of the current inflows and outflows, an enterprise can classify its situation in the cash management Full operating cycle influence on the food and beverages processing firms characteristics Grzegorz MICHALSKI Department of Corporate Financial Management, Faculty of Engineering and Economics, Wroclaw University of Economics, Wroclaw, PolandAbstract: Th e aim of the study is to determine the rules governing the modern cash management in food and beverages processing enterprises with a full operating cycle with a particular em...

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“…Day surgery differs within each country. This may be caused by many reasons of both economic and non-economic character (Soltes, [13][14][15].…”

Section: Introduction and Brief Literature Reviewmentioning

confidence: 99%