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Gelashvili, Vera and Camacho Miñano, María del Mar and Segovia Vargas, María Jesús (2020) A study of the economic and financial analysis for social firms: are they really businesses? Revista de Contabilidad - Spanish Accounting Review (RC-SAR), 23 (2). pp. 139-147. ISSN 1138-4891
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Official URL: https://doi.org/10.6018/rcsar.361531
Abstract
The main objective of this research paper is to analyze the economic and financial situation of social enterprises through ratio analysis and show their strengths and weaknesses based on financial data. The sample consists of 118 social companies operating in the Autonomous Community of Madrid in Spain. For data analysis, economic and financial analysis has been carried out, using ratio analysis and the indicator of financial distress: the Altman Z’-score. Our findings highlight that social companies are businesses with a high level of profitability, especially for their partners. Thus, their survival, on average, is guaranteed in the long-term and their liquidity level is optimum. This study is an important contribution for the academic literature, because it carries out a comparison amongst the two different types of social firms, focusing on their economic and financial structure, diminishing the lack of empirical studies about these companies.
Resumen (otros idiomas)
El principal objetivo de esta investigación es analizar la situación económico- financiera de las empresas sociales a través del análisis de ratios, mostrando sus fortalezas y debilidades basándonos en la información contable. La muestra está formada por 118 empresas sociales situadas en la Comunidad Autónoma de Madrid en España. Para analizar los datos se han utilizado ratios económico-financieros y el indicador de estrés financiero, el Z’-score de Altman . Nuestros resultados destacan que las empresas sociales son negocios con una elevada rentabilidad, especialmente para sus socios. De este modo, está garantizada su supervivencia en el largo plazo y con un nivel de liquidez óptimo. Este estudio es una importante contribución para la literatura académica porque establece una comparación entre dos tipos de negocios sociales centrándonos en su estructura financiera y económica, completando la escasez de estudios empíricos sobre estas empresas.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Social enterprises; Insertion firms; Sheltered employment centres; Financial and economic analysis |
| Palabras clave (otros idiomas): | Empresas sociales; Empresas de inserción; Centros especiales de empleo; Análisis económico-financiero |
| Subjects: | Social sciences > Economics > Accounting Social sciences > Economics > Labor Social sciences > Economics > Cooperatives |
| JEL: | J58, M4, M41 |
| ID Code: | 69620 |
| Deposited On: | 18 Jan 2022 09:08 |
| Last Modified: | 18 Jan 2022 10:03 |
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