La relación entre liquidez, rentabilidad y solvencia: Una investigación empírica por el modelo de ecuaciones estructurales

Dante Domingo Terreno; Jorge Orlando Peréz; Silvana Andrea Sattler

doi:10.17533/udea.rc.n77a01

Authors

Dante Domingo Terreno Catholic University of Córdoba https://orcid.org/0000-0003-4400-8058
Jorge Orlando Peréz Catholic University of Córdoba https://orcid.org/0000-0001-5974-6024
Silvana Andrea Sattler Catholic University of Córdoba https://orcid.org/0000-0002-9900-9085

DOI:

https://doi.org/10.17533/udea.rc.n77a01

Keywords:

liquidity, profitability, indebtedness, SEM, inventories

Abstract

This study aimed at determining the relationship between liquidity and the profitability and solvency of the firms listed on the Buenos Aires Stock Exchange, through the Structural Equations Model. The results indicate that firms with greater current capital have greater profitability, which results from a short-termist attitude of the Argentinian business owner due to which the greatest investment is made in inventories. The relationship between liquidity and long-term indebtedness is negative; firms with greater long-term indebtedness have lower current capital. This is because the cost of liabilities forces a reduction of current assets to the minimum; besides, firms with financing needs use long-term and short-term sources.

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