@article{vintil2016liquidity,
  title = {Liquidity and Profitability Analysis on the Romanian Listed Companies},
  author = {Georgeta Vintilă and Elena Alexandra Nenu},
  year = 2016,
  url = {https://ibimapublishing.com/articles/JEERBE/2016/161707/},
  journal = {Journal of Eastern Europe Research in Business and Economics},
  volume = 2016(2016),
  pages = 8,
  doi = 10.5171/2016.161707,
  abstract = {In the context of the financial crisis from the last years, liquidity has become an issue of great interest. Recent studies have been generally focused on the relationship between market’s liquidity and the real economy, and also on the effects that the banking system could generate, as the basis of the entire financial system. This study started from the assumption that liquidity and profitability are issues of significant impact on companies’ stability and development. The analysis was conducted on companies listed on the Bucharest Stock Exchange. In order to observe the changes recorded before the crisis and the subsequent evolution, data were collected for a period of 10 years, from 2005 to 2014. In this paper, we did not focus on testing a certain model, but analyzed the correlations between the studied variables. In the first part of the study, a graphical analysis was contucted regarding the trend of current liquidity and leverage ratios. Also, the effective tax rate was analyzed in order to monitor the impact of tax pressure and changes recorded during the financial crisis. The empirical study was conducted by econometric analysis, using multivariate regression models for unbalanced panel data. Financial performance was approached through accounting measures using return on assets and return on equity. Factors that could influence firm’s performance were focused on liquidity and solvency indicators. The results confirmed the statistically significant relationship between the analyzed variables and revealed a negative correlation between  liquidity and corporate financial performance.},
  keywords = {corporate financial performance, liquidity, panel data, financial crisis.},
  note = Article ID: 161707
}