Company capital structure and economic performance

Namen magistrske naloge je bila analiza kapitalske strukture v slovenskih podjetjih za posamezno dejavnost in njene povezanosti z ekonomsko uspešnostjo. V raziskavi smo obravnavali približno 1 % vseh slovenskih podjetij v obdobju med letoma 2015 in 2019 ter iskali povezanost med kazalniki uspešnosti, kot so kazalnik donosnosti lastniškega kapitala, kazalnik donosnosti sredstev ter kazalniki zadolženosti. Poleg tega smo z analizo varianc primerjali zadolženost podjetij med letoma in zadolženost podjetij med Standardnimi klasifikacijami dejavnosti 2008. Ugotovili smo, da ni statistično značilne povezanosti med kazalniki uspešnosti in kazalniki zadolženosti sredstev. Pri zadolženosti podjetij smo ugotovili, da se med letoma statistično značilno razlikujejo vsi obravnavani kazalniki zadolženosti sredstev. Ugotovili smo tudi, da se zadolženost podjetij med dejavnostmi statistično značilno razlikuje. S širšo analizo stopnje zadolževanja ter njenega vpliva na kazalnike uspešnosti po dejavnostih se odpirajo številne možnosti za nadaljnje raziskave in potencialno okvirna določitev pričakovane ravni zadolževanja po panogah, kar predstavlja koristen pripomoček za kreditodajalce in kreditojemalce.Selecting the source of capital in order to finance an investment might be an important factor when we speak about company economic performance. The aim of the thesis was to analyze Slovenian companies’ capital structures sorted by classification of occupation (SKD 2008) and its relationship to economic performance. We analyzed a debt ratio of about 1 % of all Slovenian companies between 2015 and 2019 period and searched for a correlation with economic performance indicators such as return on equity (ROE) and return on assets (ROA). We also used analysis of variances to compare the debt level of companies between 2015 and 2019 and debt level between companies with different classifications of occupation. We found that there is no correlation between any debt ratio and ROE, nor debt ratio and ROA. Besides that, we found out that Slovenian companies used less and less debt to finance assets in between 2015 and 2019 period and that there are statistical differences between classifications of occupation when we speak about debt ratios of companies. With further analysis of debt ratio, there are several opportunities for research and potential definition of expected debt ratio per classifications of occupation, which might be a useful tool for both debtors and creditors