Analysis of financial performance determinants: evidence from Slovak agricultural companies

Purpose. The purpose of the present study is to examine determinants financial performance Slovak agricultural companies.
 Methodology / approach. Bibliometric analysis was applied analyze literature, results review were visualized using VOSviewer software. Panel data regression analysis, which carried out GRETL software, chosen be main research method for analyzing influence on measures. 527 companies’ activity over period 2015–2019 as object study. based publicly available information (financial statements, management reports, official company websites) and in “FinStat” database. Regression performed according four developed models use different dependent variables (Return Assets (ROA), Net Profit Margin (NPM), Return Equity (ROE), Sales (ROS)) 10 independent same all (Leverage, Long-Term Debt Assets, Short-Term Equity, Capital intensity, Tangibility Current Ratio, Size, Dummy variable type ownership, legal form). Fixed Effects Method an estimate panel parameter base F-statistics test, Breusch-Pagan Hausman test use.
 Results. obtained confirm hypothesis about existence a distinctive impact due availability specific environment features typical sector. None has significant effect simultaneously Models 1–4. We observed negative at 1 % level l_Size ROA ROE companies. CapInt also NPM ROE. DtoE found have positive complete lack AsTang determining revealed. used dummy (DVTO, DVLF) excluded from composition 1–4 during exact collinearity.
 Originality scientific novelty. uniqueness that we identify specifically companies considering specifics market context current problems sector economy being investigated.
 Practical value implications. can improve decisions companies, critically evaluate state policy Republic, well clarify recommendations given by various institutions this economy.