ANALYSIS OF FINANCIAL STRENGTH AND LIQUIDITY OF LISTED COMPANIES IN TOURISM SECTOR IN CROATIA
Vlasta Roška, PhD, Assistant Professor
University North, Croatia, Koprivnica, Trg dr. Žarka Dolinara 1
Dalija Kuvačić, PhD, Assistant Professor
Zagreb University of Applied Sciences, Croatia, Zagreb, Vrbik 8
DOI: https://doi.org/10.31410/tmt.2018.327
Vlasta Roška, PhD, Assistant Professor
University North, Croatia, Koprivnica, Trg dr. Žarka Dolinara 1
Dalija Kuvačić, PhD, Assistant Professor
Zagreb University of Applied Sciences, Croatia, Zagreb, Vrbik 8
DOI: https://doi.org/10.31410/tmt.2018.327
3rd International Thematic Monograph - Thematic Proceedings: Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2018, Published by: Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, Macedonia; ISBN 978-86-80194-14-1; Editors: Vuk Bevanda, associate professor, Faculty of Business Studies, Megatrend University, Belgrade, Serbia; Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia
Abstract: The main goal set in Croatian Tourism Development Strategy is to place Croatia among the
20 leading tourist destinations in the world. Companies in the tourism sector need constant investments
in increasing attractiveness and competitiveness. Good liquidity and financial strength of the companies
in tourism are necessary for new investments.
The main aim of this paper is to determine how well the companies in the tourism sector on the Zagreb
Stock Exchange cover their liabilities, short or long term, from their profit or from the working capital.
The analysis of the companies listed on the Zagreb Stock Exchange is based on four indicators: Financial
strength, Quick Ratio, Current Ratio and Financial Stability Coefficient. These four indicators are
calculated for years 2017, 2012 and 2008. Statistical data processing was done with SPSS program.
The research result showed that the management of touristic companies listed on the Zagreb Stock
Exchange achieves better liquidity and solvency in 2017 than in 2012 and 2008.
Keywords: Financial Strength, Current Ratio, Quick Ratio, Financial Stability Coefficients
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