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Analysis of Profitability Factors of Wood-Processing Industry Companies

Student: Martynenko Mariya

Supervisor: Larisa E. Marshirova

Faculty: Faculty of Economics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

This paper examines the profitability factors of Russian companies in the woodworking industry. The econometric study was based on the annual financial statements of 492 companies for the period of 2016-2018. Data was collected from the information system «Spark». Software package Statistica 13.0 was used. The paper analyzes the main financial and macroeconomic indicators that affect the return on equity and the profitability of Russian companies in the woodworking industry. The analysis of profitability factors was carried out both at the level of the industry and on the basis of the data of a particular enterprise. As a result, models of factors of return on equity and return on assets of enterprises of the woodworking industry were formed. The key factors were identified if its impact was determined at all levels of analysis. According to the results of the regression analysis, the influence of the debt ratio, company age, tax burden, productivity, company size, turnover ratio of current assets and equity, the share of current assets in total assets and the growth rate of the company were revealed. According to the results of the factor analysis computed by the method of chain substitutions, the positive effect of the profitability of sales, the volume of attracted capital, asset turnover and the level of debt ratio were revealed. An inverse relationship of profitability indicators was revealed from the share of current assets in total assets.

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