The Influence of Liquidity and Solvency on Performance within the Healthcare Industry: Evidence from Publicly Listed Companies

Bătrâncea, Larissa

doi:10.3390/math9182231

Cited by 51 publications

(31 citation statements)

References 21 publications

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“…All in all, it can be stated that the method presented in this study can serve as a strong indicator of a financial network. The method can be extended to networks that model not only financial systems but also different types of complex systems [48][49][50]. Hence, the approach from our study can serve as a starting point for research studies focused on geometrical, topological, and statistical aspects of network science [51,52].…”

Section: Conclusion and Discussionmentioning

confidence: 99%

Coarse Graining on Financial Correlation Networks

et al. 2022

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Community structure detection is an important and valuable task in financial network studies as it forms the basis of many statistical applications such as prediction, risk analysis, and recommendation. Financial networks have a natural multi-grained structure that leads to different community structures at different levels. However, few studies pay attention to these multi-part features of financial networks. In this study, we present a geometric coarse graining method based on Voronoi regions of a financial network. Rather than studying the dense structure of the network, we perform our analysis on the triangular maximally filtering of a financial network. Such filtered topology emerges as an efficient approach because it keeps local clustering coefficients steady and it underlies the network geometry. Moreover, in order to capture changes in coarse grains geometry throughout a financial stress, we study Haantjes curvatures of paths that are the farthest from the center in each of the Voronoi regions. We performed our analysis on a network representation comprising the stock market indices BIST (Borsa Istanbul), FTSE100 (London Stock Exchange), and Nasdaq-100 Index (NASDAQ), across three financial crisis periods. Our results indicate that there are remarkable changes in the geometry of coarse grains.

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Section: Conclusion and Discussionmentioning

confidence: 99%

Coarse Graining on Financial Correlation Networks

et al. 2022

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“…On the other hand, an event or fact coming from outside the market can determine price changes. If the investor can understand the underlying causes of a price change early enough, the investor will then understand the event and perform risk management [86][87][88].…”

Section: Conclusion and Discussionmentioning

confidence: 99%

Fractality of Borsa Istanbul during the COVID-19 Pandemic

et al. 2022

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Forecasting price changes is very important for the process of estimating and managing market risk in financial markets. Price changes in financial markets may also depend on non-market factors. Considering this situation, the study investigates the effect of the COVID-19 pandemic on Borsa Istanbul. It tackles changes in the fractal dimensions of the time series obtained with the daily closing prices of stocks traded on Borsa Istanbul (BIST). According to the results of the sector-based analysis, we found that fractal dimension changes were quite effective in price estimation.

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“…The research could be useful to energy companies managers underestimating the equilibrium state evolution of the company considering different possible financial crises. (6) Batrancea [12] used econometric models with two-stage least squares (2SLS) panel and panel generalized method of moments (GMM) to study how financial liquidity and financial solvency impact the performance of healthcare companies. It follows from an empirical evidence that such financial parameters as current liquidity ratio, quick liquidity ratio, and financial leverage significantly influenced company performance measured by return on assets, gross margin ratio, operating margin ratio, taxes, earnings before interest, amortization and depreciation.…”

Section: A Literature Review On the Evolution Of The Theory Of The Co...mentioning

confidence: 99%

Benefits of Advance Payments of Tax on Profit: Consideration within the Brusov–Filatova–Orekhova (BFO) Theory

2022

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The modern capital cost and capital structure theory—the Brusov–Filatova–Orekhova (BFO) theory and its perpetuity limit, the Modigliani–Miller theory—describe the case of the payments of income tax at the end of the year. However, in practice, companies could make these payments in advance. Recently, the Modigliani–Miller theory has been modified for the case of advanced payments of income tax and has shown that the obtained results are quite different from ones in the “classical” Modigliani–Miller theory. In the current paper, for the first time, we modify the Brusov–Filatova–Orekhova (BFO) theory for the case of advanced payments of income tax and show that the impact of the transition to advance payments is much more significant than in the case of a perpetuity limit (the MM theory) and even leads to a qualitatively new effect in the dependence of equity cost on leverage. An important conclusion drawn in this paper is that the tax shield is very important, and the way it is formed (payments at the end of the year or in advance) leads to very important consequences, changing all the financial indicators of the company, such as the cost of raising capital and company value and radically changing the company’s dividend policy.

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The Influence of Liquidity and Solvency on Performance within the Healthcare Industry: Evidence from Publicly Listed Companies

Cited by 51 publications

References 21 publications

Coarse Graining on Financial Correlation Networks

Coarse Graining on Financial Correlation Networks

Fractality of Borsa Istanbul during the COVID-19 Pandemic

Benefits of Advance Payments of Tax on Profit: Consideration within the Brusov–Filatova–Orekhova (BFO) Theory

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