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首页> 外文期刊>European Journal of Business and Management >Financial Performance and Identify Affecting Factors in this Performance of Non-oil Manufacturing Companies Listed on Libyan Stock Market (LSM)
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Financial Performance and Identify Affecting Factors in this Performance of Non-oil Manufacturing Companies Listed on Libyan Stock Market (LSM)

机译：在利比亚股票市场（LSM）上市的非石油制造公司的财务绩效以及此绩效的影响因素

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The major objective of this study to assess the financial performance level and identify affecting factors in this performance of non oil manufacturing companies listed on Libyan stock market (LSM), for the years from 1999 to 2008. Many previous studies examined the subject of financial performance in the various economic sectors, such as industrial, service, commercial, banking, and tourism from developed and developing countries. Researchers have studied in these subjects on evaluating the financial performance such as Medhat Tarawneh, 2006, Liargovas and Skandalis, 2008, Amalendu Bhunia (2010), Almajali, et al, 2012, and many more. The sample of this study consists of eight companies which were selected based on the criterion of size of the capital. This study is based on the secondary data obtained from the balance sheets and profit and loss accounts. This study used the financial ratio analysis to measure the level of liquidity, operational efficiency and profitability, while the statistical method used to identify the variables that affect on financial performance. The model of this study consists of nine variables; including the dependent variable is financial performance measured by the return on assets (ROA) and eight independent variables namely current ratio (CR), quick ratio (QR), net working capital (NWC), inventory turnover ratio (ITR), account receivable turnover ratio (ARTR), general administrative expenses ratio (GAER), company size (CZ) and company age (CG). The data collected was analyzed using financial ratio analysis approach and a number of basic statistical techniques such as descriptive statistics, correlation test (Pearson’s correlation) and regression analysis (Multiple Regression Analysis). the findings of the study, first with regarding of financial ratio analysis approach , the study concluded that there is a high liquidity, this makes these companies have the capacity to meet its financial obligations in the short term, while operational efficiency indicators were unsatisfactory, such inventory turnover ratio and accounts receivable turnover ratio. While regarding the statistical analysis it can be conclude that there are significant relations between liquidity variables and operational activity variables with return on assets as findings suggested that, working capital components and financial performance (ROA) in selected companies disclose both positive and negative association. three variables are negative significant relations with return on assets (ROA namely current ratio (CR), quick ratio (QR) and account receivable (ARTR)) illustrate negative significant relations with return on assets (ROA), while five variables positive significant relations with return on assets (ROA), namely net working capital (NWC), inventory turnover ratio (ITR), general administrative expenses ratio (GAER), company size (CZ) and company age (CG).
机译：这项研究的主要目的是评估1999年至2008年间在利比亚股票市场（LSM）上市的非石油制造公司的财务绩效水平并确定影响其绩效的因素。以前的许多研究都对财务绩效进行了研究。包括发达国家和发展中国家的工业，服务业，商业，银行业和旅游业等各个经济部门。研究人员已经在这些主题上研究了财务绩效评估，例如Medhat Tarawneh，2006; Liargovas和Skandalis，2008; Amalendu Bhunia（2010），Almajali等人，2012，等等。本研究的样本包括根据资本规模标准选择的八家公司。本研究基于从资产负债表和损益表中获得的辅助数据。本研究使用财务比率分析来衡量流动性，运营效率和盈利能力的水平，而统计方法则用于识别影响财务绩效的变量。这项研究的模型包括九个变量。包括因变量是通过资产回报率（ROA）衡量的财务绩效以及八个独立变量，即流动比率（CR），速动比率（QR），净营运资金（NWC），库存周转率（ITR），应收帐款周转率比率（ARTR），一般管理费用比率（GAER），公司规模（CZ）和公司年龄（CG）。使用财务比率分析方法和许多基本统计技术（例如描述性统计，相关性检验（皮尔逊相关性）和回归分析（多元回归分析））对收集的数据进行了分析。研究的结果，首先考虑到财务比率分析方法，该研究得出的结论是存在较高的流动性，这使得这些公司有能力在短期内履行其财务义务，而运营效率指标却不能令人满意，例如库存周转率和应收账款周转率。在进行统计分析时，可以得出结论，流动性变量和运营活动变量与资产收益率之间存在显着关系，发现表明，选定公司的营运资本成分和财务绩效（ROA）揭示了正向和负向关联。三个变量是与资产收益率的负显着关系（ROA，即流动比率（CR），速动比率（QR）和应收账款（ARTR）），说明与资产收益率（ROA）呈负显着关系，而五个变量与资产收益率呈显着显着关系。资产回报率（ROA），即净营运资金（NWC），库存周转率（ITR），一般管理费用率（GAER），公司规模（CZ）和公司年龄（CG）。

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