Okayama Economic Review
Published by the Economic Association of Okayama University

因子分析による財務比率の分類に関する予備的研究

Nakagawa, Toyotaka Graduate School of Humanities and Social Sciences, Okayama University Kaken ID researchmap
Nagahata, Hidekazu Graduate School of Humanities and Social Sciences, Okayama University Kaken ID researchmap
Yamanishi, Yuki
Abstract
The purpose of this paper is to perform factor analysis on financial ratios calculated using consolidated financial statement data from the fiscal year ended March 31, 2006 to the fiscal year ended March 31, 2017, which are disclosed by Japanese companies, and to classify financial ratios.
 The analysis provided evidence to suggest that both net income and cash flows from operating activities are functioned as financial performance measures with similar properties. We also find that capital efficiency is an important factor. Furthermore, there is also evidence that cash flows from investing activities and cash flows from financing activities have a common factor.
Note
論説 (Articles)
ISSN
2433-4146
NCID
AN00032897
NAID