أثر استخدام أسس القياس المحاسبي (النقدي والإستحقاق) على أداء الشركات الصناعية المدرجة في بورصة فلسطين
عمر عبد عوض جودة
Omar Abed Awad Joudeh
This study aimed to measure the performance of the Palestinian industrial companies listed on Palestine Stock Exchange in terms of liquidity, profitability and solvency, to achieve the objectives of the study, a sample of 13 industrial companies listed on Palestine Stock Exchange were selected, which follow different sectors, for the period from 2009 to 2018, as a purposive sample. The study adopted the descriptive analytical approach, the researcher adopted linear multiple regression analysis to create two models representing the financial performance of companies on the accrual and cash basis, by using the SPSS program. The independent variables of the accrual based model included current ratio, net profit margin, return on capital employed, debt to assets and interest coverage ratio, where The cash-based model included: cash to current liabilities ratio, cash to sales ratio, cash to working capital, cash to debt , and cash interest coverage ratio. With respect to the dependent variable, the study adopted the return on assets for all the models created. The study concluded a set of results as follows: The current ratio, net profit margin, return on capital employed, debt ratio and interest coverage ratio showed a statistically significant positive correlation with the return on assets of accrual basis model. For the second model (cash basis), cash to short term debt ratio showed a statistically significant positive relationship with return on assets, the relationship between cash to sales ratio to return on assets was negative and statistically significant, the cash to equity employed correlated statistically significant and positively with the dependent variable. The relationship between cash to debt and the dependent variable was negative and not statistically significant, while the relationship between cash interest coverage ratio and return on assets was a statistically significant positive relationship. Based on the results of this research, the researcher recommended to conduct financial analysis of public shareholding companies in order to identify the strengths and weaknesses within the companies to avoid collapse, the researcher stressed the need for benchmarking financial ratios in evaluating the performance of companies in Palestine. Further research on performance evaluation using financial analysis to include aspects such as asset management ratios, valuation ratios and additional liquidity, profitability and solvency ratios to future researches. Keywords: corporate performance evaluation, accrual based ratios, cash based ratios, liquidity ratios, profitability ratios, solvency ratios.