| Abstract [eng] |
95 pages, 17 charts, 4 pictures, 17 tables, 81 references, 16 appendices. The main objective of this master's thesis is to evaluate the factors influencing the profitability of the motor vehicle spare parts trade sector. The work consists of four main parts: an analysis of scientific literature, the methodology of empirical research, the empirical research and analysis of its results, and conclusions and recommendations. The analysis of scientific literature reviews the concept of profitability, the importance of profitability analysis, the classification of profitability indicators, the factors affecting profitability, and the methods used to assess them. It also provides an overview of the motor vehicle sector and evaluates external factors affecting the sector’s profitability using PESTEL analysis. The methods used in scientific literature to assess profitability factors are also discussed. Based on the analysis of scientific literature and sectoral statistical data, changes in the indicators of the motor vehicle sector during the period 2018–2024 were identified. The internal and external factors affecting the profitability of the motor vehicle sector were identified, as well as the methods used to evaluate factors affecting company profitability. For the profitability analysis and assessment of the motor vehicle spare parts trade sector, data from 15 companies in the sector for the period 2018–2024 were selected. The main aim of the empirical analysis was to assess the relationship between working capital management, financial leverage, liquidity, company size, sales growth and return on assets. The research results were also compared with similar profitability studies of the motor vehicle sector conducted in other countries. The research data was processed using Excel and RStudio software. Spearman correlation analysis was used to identify relationships between profitability indicators and explanatory variables, while the VIF (Variance Inflation Factor) indicator was used to assess the risk of multicollinearity. The factors affecting profitability were assessed using panel regression analysis, and the Hausman test was applied to select the appropriate panel regression model. Statistical significance was assessed using p-values, and heteroskedasticity- and autocorrelation-robust standard errors were applied to increase the reliability of the results. The research showed that the profitability of companies in the motor vehicle spare parts trade sector is most strongly associated with working capital management and financial risk management. Higher sales revenue or larger company size alone does not guarantee a higher return on assets when customer payment periods become longer, capital becomes more tied up, or financial risk increases. The conclusions and proposals summarise the results of scientific literature analysis and empirical research and provide insights into the factors affecting the profitability of the motor vehicle spare parts trade sector. The research results may be useful for companies in the sector seeking to improve profitability, manage receivables more effectively, optimise working capital and assess the use of financial leverage more cautiously. |
