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The Impact of Structure of Debt Funding Sources on Liquidity of Medium-Sized Companies in the Czech Republic

  • Markéta ŠeligováEmail author
Conference paper
Part of the Springer Proceedings in Business and Economics book series (SPBE)

Abstract

The aim of this paper is to determine the impact of structure of debt funding sources on liquidity of medium-sized companies in the Czech Republic from 2006 to 2015. With the purpose to fulfill the aim, we determine the impact of structure of debt funding sources including variables such as debt equity ratio, supplier loans, long-term bank loans, short-term bank loans, other long-term liabilities, other short-term liabilities on liquidity of medium-sized companies in the Czech Republic. The relationship between structure of debt funding sources and liquidity of medium-sized companies is determined using a correlation analysis and panel regression analysis using generalized method of moments (GMM). The results confirm that there is negative impact of long-term bank loans on liquidity of medium-sized companies in the Czech Republic. The results also confirm the positive impact of other short-term liabilities on liquidity of medium-sized companies in the Czech Republic.

Keywords

Debt funding sources Liquidity of companies Long-term bank loans Medium-sized companies 

Notes

Acknowledgements

This paper ensued thanks to the support of the grant SGS/7/2018 “Analysis of the influence of selected aspects on the financial structure of companies in the conditions of Central and Eastern European countries”.

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Copyright information

© Springer Nature Switzerland AG 2018

Authors and Affiliations

  1. 1.Department of Finance and Accounting, School of Business AdministrationSilesian UniversityKarvináCzech Republic

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