Year of Graduation
Economic factors impact on the company's financial performance at growth and maturity stages
This Article analyzes the financial performance of the company on the stages of growth and maturity, from concept of Life Cycle Theory. The study represents an analysis of key indicators of liquidity, solvency and financial stability of the company in the prism of the life- cycle of the organization. The goal of this work is to identify the influence of verious financial indicators on profitability and value of the company at the growth and maturity stages. In accordance with the goal of the study are defined following tasks:To consider the results obtained in the literature on behalf of the influence of the organizational life cycle on the company .To identify dependent and independent factors of the investigated model.To state hypothesis of the study determined on the literature basis.Create an adequate specification of the model, which will be the most representative.Collect balanced empirical data on representative countries , industries and companies .Conduct an empirical study and analyze the results.Create a single table for the studied regression models and indicators with an indicated influence on the performance indicators of the company. The first chapter is devoted to the analysis of the most relevant sources of the life-cycle theory of an organization in the research. The second chapter describes the methodology of the study: a method for determining stages of the life cycle of the organization, the studied parameters and the data selected for the study. Finally, the third chapter provides a description of the study: the model regression analysis, conducted tests on model consistency, representativeness and results. The study examined two samples of data, Russia and the United States. It has about 200 of non-financial companies with reported data from 2000 to 2013. This study determined the influence of different parameters on the financial activities of the company, depending on the various life cycle stages of the organization. The result of this study is the summary table which describes the influence of significant indicators on the financial performance of the company on various life cycle stages.