Traffic&Transportation Journal
Sign In / Sign Up
SUBMIT
FOLLOW THE JOURNAL

Article

Analiza profitabilnosti logističkih kompanija u zemljama Balkana
Bojana Vuković, Bojana Vuković, Bojana Vuković, Bojana Vuković, Sunčica Milutinović, Sunčica Milutinović, Sunčica Milutinović, Sunčica Milutinović, Vera Mirović, Vera Mirović, Vera Mirović, Vera Mirović, Nikola Milićević, Nikola Milićević, Nikola Milićević, Nikola Milićević
Keywords:profitability, logistics industry, panel data model, Balkan countries

Abstract

Glavni cilj ovog rada je da istraži faktore koji utiču na profitabilnost kompanija u sektoru logistike tokom petogodišnjeg perioda (2013-2017). Uzorak obuhvata sve aktivne kompanije ili 748 kompanija koje posluju u sektoru logistike u zemljama Balkana. Imajući u vidu da je logistika bitan instrument konkurentnosti i profitabilnosti poslovanja kompanija i da je logistička industrija jedna od najprofitabilnijih, u radu je korišten panelni model podataka sa fiksnim efektom kako bi se razmotrila profitabilnost. Dobijeni rezultati su pokazali da četiri od šest posmatranih varijabli (veličina preduzeća, opipljivost imovine, likvidnost i koeficijent obrtanja aktive) imaju statistički značajan uticaj na profitabilnost. Rezultati daju smjernice za povećanje profitabilnosti i poboljšanje performansi logističkih kompanija, imajući u vidu da je efikasan sistem planiranja, upravljanja i kontrole logističkog sistema ključna odrednica profitabilnog poslovanja.

References

Rothschild M. Shareholders pay for ROA. Strategic Finance. 2006;88(5): 26-32. Available from: https://sfmagazine.com/wp-content/uploads/sfarchive/2006/11/Shareholders-Pay-for-ROA.pdf [Accessed 29th October 2019].

Klapalova A. Reverse logistics management, drivers and profitability-metal versus other industries. In: Proceedings of the 24th Conference on Metallurgy and Materials, 3 - 5 June 2015, Brno, Czech Republic. Available from: http://konsys2.tanger.cz/files/proceedings/21/papers/3998.pdf [Accessed 31th October 2019].

Domingues ML, Reis V, Macário R. A comprehensive framework for measuring performance in a third party logistics provider. Transportation Research Procedia. 2015;10: 662-672. Available from: doi:10.1016/j.trpro.2015.09.020 [Accessed 2nd November 2019].

Škerlić S, Muha R. The importance of systems for controlling logistics costs in the supply chain: A case study from the Slovenian automotive industry. Promet – Traffic&Transportation. 2016;28(3): 299-310. Available from:

http://traffic.fpz.hr/index.php/PROMTT/article/view/1881/1464 [Accessed 29th March 2019].

Dayou Ch. Evaluating the Profitability and Marketability of Logistics Companies in China Based on Two-stage DEA. In: Proceedings of International Conference of Information Science and Management Engineering. Proceedings of the 2010 International Conference of Information Science and Management Engineering – Volume 02, 07 – 08 August 2010. Washington DC, USA: IEEE Computer Society; 2010. p. 450-453. Available from: doi:10.1109/ISME.2010.153 [Accessed 4th November 2019].

Hofmann E, Kerstin Lampe K. Financial statement analysis of logistics service providers: Ways of enhancing performance. International Journal of Physical Distribution & Logistics Management. 2013;43(4): 321-342. Available from: doi:10.1108/IJPDLM-08-2012-0229 [Accessed 1st November 2019].

Mothilal S, Gunasekaran A, Nachiappan SP, Jayaram J. Key success factors and their performance implications in the Indian third-party logistics (3PL) industry. International Journal of Production Research. 2012;50(9): 2407-2422. Available from: doi:10.1080/00207543.2011.581004 [Accessed 4th November 2019].

Panayides PM. Marketing in Asia-Pacific Logistics Companies: A Discriminant Analysis between Marketing Orientation and Performance. Asia Pacific Journal of Marketing and Logistics. 2004;16(1): 42-68. Available from: doi:10.1108/13555850410765122 [Accessed 28th October 2019].

Parola F, Satta G, Panayides PM. Corporate strategies and profitability of maritime logistics firms. Maritime Economics & Logistics. 2015;17(1): 52-78. Available from: doi:10.1057/mel.2014.18 [Accessed 4th November 2019].

Kucukaltan B, Irani Z, Aktas E. A decision support model for identification and prioritization of key performance indicators in the logistics industry. Computers in Human Behaviour. 2016;65:346-358. Available from: doi:10.1016/j.chb.2016.08.045 [Accessed 2nd November 2019].

Saripalle M. Determinants of profitability in the Indian logistics industry. Int. J. Logistics Economics and Globalisation. 2018;7(1): 13-27. Available from: doi:10.1504/IJLEG.2018.090498 [Accessed 3rd November 2019].

Bureau van Dijk, Moody’s Analytic’s Company. TP Catalyst. Available from: https://www.bvdinfo.com/en-apac/our-products/bvd-s-catalysts-solutions-by-task/catalysts-solutions-by-task/tp-catalyst [Accessed 4th April

.

Boadi EK, Antwi S, Lartey VC. Determinants of profitability of insurance firms in Ghana. International Journal of Business and Social Research. 2013;3(3): 43-50. Available from: doi:10.18533/ijbsr.v3i3.231 [Accessed 3rd February 2019].

Burja C. Factors influencing the companies’ profitability. Annales Universitatis Apulensis Series Oeconomica. 2011;13(2): 215-224. Available from: http://oeconomica.uab.ro/upload/lucrari/1320112/03.pdf [Accessed 31st March 2019].

Serrasqueiro ZM. Growth and profitability in Portuguese companies: A dynamic panel data approach. Amfiteatru Economic. 2009;11(26): 565-573. Available from: http://www.amfiteatrueconomic.ro/temp/Article_897.pdf [Accessed 31st March 2019].

Alarussi AS, Alhaderi SM. Factors affecting profitability in Malaysia. Journal of Economic Studies. 2018;45(3): 442-458. Available from: doi:10.1108/JES-05-2017-0124 [Accessed 31st March 2019].

Agiomirgianakis GM, Magoutas AI, Sfakianakis G. Determinants of profitability in the Greek tourism sector revisited: the impact of the economic crisis. Journal of Tourism and Hospitality Management. 2013;1(1): 12-17. Available from: http://jthmnet.com/journals/jthm/Vol_1_No_1_December_2013/2.pdf [Accessed 22nd March 2019].

Abu-Tapanjeh AM. An empirical study of firm structure and profitability relationship: The case of Jordan. Journal of Economic and Administrative Sciences. 2006;22(1): 41-59. Available from: doi:10.1108/10264116200600003 [Accessed 31st March 2019].

Asimakopoulos I, Samitas A, Papadogonas T. Firm-specific and economy wide determinants of firm profitability: Greek evidence using panel data. Managerial Finance. 2009;35(11): 930-939. Available from: doi:10.1108/03074350910993818 [Accessed 28th March 2019].

Banchuenvijit W. Determinants of firm performance of Vietnam listed companies. Academic and Business Research Institute. 2012. Available from: http://aabri.com/SA12Manuscripts/SA12078.pdf [Accessed 3rd February 2019].

Malik H. Determinants of insurance companies profitability: an analysis of insurance sector of Pakistan. Academic Research International. 2011;1(3): 315-321. Available from: http://www.savap.org.pk/journals/ARInt./Vol.1(3)/2011(1.3-32)stop.pdf [Accessed 28th March 2019].

Lee J. Does size matter in firm performance? Evidence from US public firms. International Journal of the Economics of Business. 2009;16(2): 189-203. Available from: doi:10.1080/13571510902917400 [Accessed 31st March 2019].

Lazăr S. Determinants of firm performance: Evidence from Romanian listed companies. Review of Economic and Business Studies. 2016;9(1): 53-69. Available from: http://www.rebs.ro/issues/pdfs/17.pdf#page=53 [Access-

ed 3rd February 2019].

Al-Jafari MK, Al Samman H. Determinants of profitability: Evidence from industrial companies listed on Muscat securities market. Review of European Studies. 2015;7(11): 303-311. Available from: doi:10.5539/res.v7n11p303 [Accessed 22nd March 2019].

Pratheepan T. A panel data analysis of profitability determinants empirical results from Sri Lankan manufacturing companies. International Journal of Economics, Commerce and Management. 2014;2(12): 1-9. Available from: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.679.9106&rep=rep1&type=pdf [Accessed 3rd February 2019].

Bhutta NT, Hasan A. Impact of firm specific factors on profitability of firms in food sector. Open Journal of Accounting. 2013;2(2): 19-25. Available from: https://file.scirp.org/pdf/OJAcct_2013042509122747.pdf [Accessed 28th March 2019].

Goddard J, Tavakoli M, Wilson J. Determinants of profitability in European manufacturing and services: Evidence from a dynamic panel model. Applied Financial Economics. 2005;18(15): 1269-1282. Available from: doi:10.1080/09603100500387139 [Accessed 28th March 2019].

Devi A, Devi S. Determinants of firms’ profitability in Pakistan. Research Journal of Finance and Accounting. 2014;5(19): 87-91. Available from: https://pdfs.semanticscholar.org/3514/1db285723ebd870c4b7ada28e26fb57a0e32.pdf [Accessed 31st March 2019].

Charumathi B. On the determinants of profitability of Indian life insurers – An empirical study. In: Proceedings of the World Congress on Engineering (WCE), 4-6 July 2012, London, UK. The International Association of Engineers (IAENG); 2012. Volume I. Available from: https://pdfs.semanticscholar.org/fd2d/9f7474841f120d04fc701e7893e8ba491ead.pdf

Chander S, Aggarwal P. Determinants of corporate profitability: An empirical study of Indian drugs and pharmaceutical industry. Paradigm. 2008;12(2): 51-61. Available from: doi:10.1177/0971890720080206 [Accessed 3rd February 2019].

Abey J, Velmurugan R. Determinants of profitability in Indian automobile industry. International Journal of Pure and Applied Mathematics. 2018;119(12): 15301-15313. Available from: https://acadpubl.eu/hub/2018-119-12/articles/6/1418.pdf [Accessed 22nd March 2019].

Pervan M, Pervan I, Todorić M. Firm ownership and performance: Evidence for Croatian listed firms. International Journal of Economics and Management Engineering. 2012;6(1): 81-87. Available from: http://waset.org/publications/4833 [Accessed 22nd March 2019].

Mijić K, Nuševa D, Jakšić D. The determinants of SMEs profitability in the wholesale and retail sector in Serbia. Teme. 2018;42(1): 97-111.

Maçãs Nunes PJ, Serrasqueiro ZM, Sequeira TN. Profitability in Portuguese service industries: A panel data approach. The Service Industries Journal. 2009;29(5): 693-707. Available from: doi:10.1080/02642060902720188 [Accessed 28th March 2019].

Yazdanfar D. Profitability determinants among micro firms: Evidence from Swedish data. International Journal of Managerial Finance. 2013;9(2): 151-160. Available from: doi:10.1108/17439131311307565 [Accessed 22nd March 2019].

Denčić-Mihajlov K. Profitability during the financial crisis evidence from the regulated capital market in Serbia. South-Eastern Europe Journal of Economics. 2014;12(1): 7-33. Available from: http://www.asecu.gr/Seeje/issue22/issue22-mihajlov.pdf [Accessed 3rd February 2019].

Dhawan R. Firm size and productivity differential: Theory and evidence from a panel of US firms. Journal of Economic Behavior & Organization. 2001;44(3): 269-293. Available from: doi:10.1016/S0167-2681(00)00139-6 [Accessed 28th March 2019].

Eriotis N, Stamatiadis F, Vasiliou D. Assessing accrual accounting reform in Greek public hospitals: An empirical investigation. International Journal of Economic Sciences and Applied Research. 2011;4(1): 153-184. Available from: http://ijbesar.teiemt.gr/docs/volume4_issue1/volume4_issue1.pdf#page=153 [Accessed 22nd March 2019].

Doğan M. Does firm size affect the firm profitability? Evidence from Turkey. Research Journal of Finance and Accounting. 2013;4(4): 53-59. Available from: https://pdfs.semanticscholar.org/5360/29a44ed8dd384cbcde67f9d60bc10cf5c775.pdf [Accessed 28th March 2019].

Islam MS, Khan MS. The determinants of profitability of the pharmaceutical industry of Bangladesh: A random effect analysis. International Journal of Financial Research. 2019;10(2): 68-74. Available from: doi:10.5430/ijfr.v10n2p68 [Accessed 28th March 2019].

Horngren CT, Harrison WT, Oliver MS. Financial & Managerial Accounting. Upper Saddle River, New York: Pearson Prentice-Hall; 2012.

Kebewar M. The effect of debt on corporate profitability: evidence from French service sector. Brussels Economic Review. 2013;56(1): 43-59. Available from: doi:10.2139/ssrn.2191075 [Accessed 3rd February 2019].

Zeng S, Wudhikarn R. The Empirical Study of Relationships between Intellectual Capital, Firms’ Market Value and Financial Performance of Logistics Industry of Thailand. In: Proceedings of International Conference on Information Management and Management Sciences (IMMS 2018), 24 - 26 August 2018, Chengdu, China. p. 26-32. Available from: doi:10.1145/3277139.3277170 [Accessed 1st November 2019].

Published
09.07.2020
Copyright (c) 2023 Bojana Vuković, Bojana Vuković, Bojana Vuković, Bojana Vuković, Sunčica Milutinović, Sunčica Milutinović, Sunčica Milutinović, Sunčica Milutinović, Vera Mirović, Vera Mirović, Vera Mirović, Vera Mirović, Nikola Milićević, Nikola Milićević, Nikola Milićević, Nikola Milićević

Published by
University of Zagreb, Faculty of Transport and Traffic Sciences
Online ISSN
1848-4069
Print ISSN
0353-5320
SCImago Journal & Country Rank
Publons logo
© Traffic&Transportation Journal