Due to their type of mathematical construction, the use of standard financial ratios in studies analysing the financial health of a group of firms leads to a series of statistical problems that can invalidate the results obtained. These problems are originated by the asymmetry of financial ratios. The present article justifies the use of a new methodology using compositional data (CoDa) to analyse the financial statements of a sector, improving analyses using conventional ratios since the new methodology enables statistical techniques to be applied without encountering any serious drawbacks such as skewness and outliers, and without the results depending on the arbitrary choice as to which of the accounting figures is the numerator of the ratio and which is the denominator. An example with data of the wine sector is provided. The results show that when using CoDa, outliers and skewness are much reduced and results are invariant to numerator and denominator permutation.
翻译:由于其数学构造的类型,在分析一组公司财务健康的研究中使用标准财务比率会导致一系列统计问题,使所得结果无效,这些问题源于财务比率不对称,本条款证明使用新的方法使用组成数据分析一个部门的财务报表是合理的,利用传统比率改进分析,因为新方法使统计技术的应用不会遇到任何严重的缺点,如扭曲和外差,而且没有结果取决于任意选择会计数字中哪个是比率的分子,哪个是分母。提供了葡萄酒部门数据的一个实例。结果显示,使用CoDa、外差和偏差数据时,结果大大减少,对分子和分母的计算和分母变化不一。