The Stability of the Financial Indicators over Time

摘要

The article attempts to assess the stability of the financial indicators in the period of ten years (2006-2015). Nearly 1600 companies have been examined within the manufacturing sector - including 800 bankrupt companies. For each enterprise the five selected ratios were calculated for each year. The stability of calculated variables during the research period was measured by (1) the standard deviation and normal distribution, (2) the correlation matrix, and (3) the discriminant ability (by using the t-Student test). The results indicated a substantial degree of instability of analyzed indicators over the last decade.