Long-term financial analysis of the Slovenian wood industry using DEA

Kropivšek, Jože (author), Grošelj, Petra (author)

Long-term financial analysis is an important tool for assessing the financial position of a company and/or sector. The aim of the research was to analyze selected financial indicators of the Slovenian wood industry in sub-sectors C16 (wood processing – except furniture) and C31 (manufacture of furniture) for the last 10 years (from 2007-2016). The efficiency evaluation was performed by DEA (Data Envelopment Analysis) window analysis. Other comparisons between two sub-sectors were performed by analysis of time series of financial indicators and by t-test. We have analyzed 40 financial indicators, 15 of which in more detail. Some models, analyzed by DEA method, show relative deterioration in efficiency in the years 2007-2010, but in most cases efficiency has increased in recent years. With this, we have proven that the efficiency of both sub-sectors is improving. For all models, the performance of the sub-sector C16 is better than that of C31. It has been proven by t-test that the difference between these two sub-sectors is statistically significant, as differences of more than half of the financial indicators between the two sub-sectors are statistically significant. Therefore, improvements in profitability ratios at the company’s level should be done and appropriate measures within the sectoral economic policies should be taken to achieve the conditions needed for greater efficiency and success.

• Language: English
• Keywords: financial analysis, financial indicators, wood industry, Slovenia, DEA, t-test
• Work type: Article
• Typology: 1.01 - Original Scientific Article
• Organization: BF - Biotechnical Faculty
• Publication status: Published
• Publication version: Version of Record
• Year: 2019
• Number of pages: Str. 61-70
• Numbering: Vol. 70, iss. 1
• PID: 20.500.12556/RUL-114193
• UDC: 630*7
• ISSN on article: 0012-6772
• DOI: 10.5552/drvind.2019.1810
• COBISS.SI-ID: 5367462

Copyright

Podatek o licenci CC BY 4.0 je naveden na spletnih straneh nadrejene revije pri založniku (https://www.drvnaindustrija.com/about/open-access/) in v zapisu za nadrejeno revijo na portalu Hrčak (https://hrcak.srce.hr/en/drvnaindustrija). (Datum opombe: 21. 5. 2025)

Note

KLJUČNE BESEDE: finančna analiza, finančni indikatorji, lesna industrija, Slovenija, analiza podatkovne ovojnice, DEA

• Publication date in RUL: 19.02.2020

Record is a part of a journal

• Title: Drvna industrija
• Shortened title: Drv. ind.
• Publisher: Sveučilište u Zagrebu, Fakultet šumarstva i drvne tehnologije = University of Zagreb, Faculty of Forestry and Wood Technology, Hrvatska komora inženjera šumarstva i drvne tehnologije = Croatian Chamber of Forestry and Wood Technology Engineers
• ISSN: 0012-6772
• COBISS.SI-ID: 2858754

Licences

• License: CC BY 4.0, Creative Commons Attribution 4.0 International
• Link: http://creativecommons.org/licenses/by/4.0/
• Description: This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

• Language: Croatian
• Title: Dugoročna financijska analiza slovenske drvne industrije primjenom metode DEA

Abstract

Dugoročna financijska analiza važan je alat za procjenu financijskog stanja poduzeća i/ili sektora. Cilj istraživanja bio je analizirati odabrane financijske pokazatelje slovenske drvne industrije posljednjih deset godina (2007. – 2016.) u podsektorima C16 (prerada drva – osim namještaja) i C31 (proizvodnja namještaja). Procjena učinkovitosti provedena je primjenom analize omeđivanja podataka (DEA – Data Envelopment Analysis). Ostale usporedbe dvaju podsektora obavljene su analizom vremenskih serija financijskih pokazatelja i t-testom. Analizirano je 40 financijskih pokazatelja, od kojih 15 detaljno. Neki modeli analizirani DEA metodom pokazuju relativno pogoršanje učinkovitosti u razdoblju 2007. – 2010., ali se u većini modela učinkovitost tijekom posljednjih nekoliko godina povećala. Time je dokazano da se učinkovitost obaju podsektora poboljšava. Za sve je modele učinak podsektora C16 bolji od učinka podsektora C31. Primjenom t-testa dokazana je statistički značajna razlika između dva promatrana podsektora jer su razlike statistički značajne za više od polovice financijskih pokazatelja koji se odnose na ta dva podsektora. Stoga je potrebno poboljšati omjer profitabilnosti na razini poduzeća i uvesti odgovarajuće mjere u sklopu sektorskih ekonomskih politika kako bi se postigli uvjeti za veću učinkovitost i uspjeh.

• Keywords: financijska analiza, financijski pokazatelji, drvna industrija, Slovenija, DEA, t-test

Projects

• Funder: ARRS - Slovenian Research Agency
• Project number: P4-0015
• Name: Les in lignocelulozni kompoziti

• Funder: ARRS - Slovenian Research Agency
• Project number: P4-0059
• Name: Gozd, gozdarstvo in obnovljivi gozdni viri