Scholarly record
FINANCIAL SITUATION OF MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES IN THE LATVIAN FISHERY SECTOR
Abstract
Environmental pollution, adverse spawning conditions, as well as intensive fishing and other factors have negative influence on fish stock condition, thereby causing fishery enterprises problems to plan their activities in long term. This causes significant consequences not only for the Latvian fishery sector in general, but also for the development of coastal areas and national socio-economic growth. In the modern global economy, competitiveness is put forward as one of the conditions for economic recovery. The competitiveness of Latvian fishery sector is largely determined by its financial stability. The aim of the research is to evaluate the financial situation of micro, small and medium-sized enterprises (В‘SMEsВ’) in the Latvian fishery sector, simultaneously providing recommendations for improvement of the financial stability. Using the possibilities offered by financial analysis as well as considering availability of data and their quality, the author carried out the corresponding evaluation. The results of the research include evaluation of liquidity, solvency, efficiency and profitability of micro, small and medium-sized enterprises. Moreover, the research reflects the skills of enterprises to form capital structure and distribute financial means, and provides an insight into the need of structural reforms. The information reflected in the research can help the institutions, entrepreneurs and researchers involved in establishment and implementation of fisheries policy to better understand and improve the common policy of the whole sector.
Publication Impact Profile
Publication details
References9
Agriculture Ministry, RД«cД«bas programma ZivsaimniecД«bas attД«stД«bai 2014.-2020. gadam (Operational Programme for Development of Fisheries 2014-2020), 2014, p. 143 (In Latvian).
Altman E., Financial Ratios, Discriminant Analysis and Prediction of Corporate Bankruptcy, Journal of Finance, 1968, Vol. 23(4), pp. 589–609, DOI: 10.1111/j.1540-6261.1968.tb00843.x
Bednarskis L., Paupa V., Vaikulis J., Finansu pДЃrskatu analyze (Analysis of financial statements), RД«ga, 1994, p. 104 (In Latvian).
Central Statistical Bureau, Database: http://data.csb.gov.lv/pxweb/en/?rxid=cdcb978c-22b0-416a-aacc-aa650d3e2ce0 (restricted access data).
Deakin E., A Discriminant Analysis of Predictors of Business Failure, Journal of Accounting Research, 1972, Vol. 10(1), pp. 167-179.
Fabozzi F.J., Drake P.P., Polimeni R.S., The Complete CFO Handbook: From Accounting to Accountability, Canada, 2007, p. 864.
RurДЃne M., RaЕѕoЕЎana (Manufacturing), RД«ga, 1997, p. 125 (In Latvian).
Saksonova S., Uzņēmuma finanšu vadības praktiskās metodes (Practical methods of financial management of a company), Rīga, 2004, p. 225 (In Latvian).
Zariņa V., Strēle I., Finanšu plānošana uzņēmumā (Financial planning in a company), Rīga, 2009, p. 105 (In Latvian)
View or Download full articleAccess options
SWS access login
Login as SWS Scientific CommitteeLogin as SWS Scientific PartnerLogin as SWS AuthorAuthors and approved SWS contributors will read and export their own linked papers after identity matching by SWS profile, email and SGEM GlobalID.
For librarian assistance: [email protected]
Purchase Instant Access
- Article can be downloaded after successful payment.
- Article may be used according to SWS library access terms.
- Article cannot be redistributed.