Empirical Study on the Efficiency of the Companies Financing Process through Statistical Analysis

The current economic context, characterized by strong slippages, at the real and financial flows, request, in order to maintain stability and favorable evolution of the enterprise, a fair and efficient substantiation of the decision process. Such need is found, especially, in the area of corporate finance. In this respect, managers must be given tools used in assessing the adequacy of existing financial structure construction and to indicate future directions of action regarding release of funds demand. This article addresses this area by focusing on two coordinates: the study of links that are established between the characteristics of entities (capital structure ratios, activity field) and the development of the dimension of corporate value, expressed by increase / decrease index of asset capitalization, obtaining in this way a profile of the enterprises related to the efficiency of the financing policy, and develop a mathematical model to classify firms in performance group, using the as the same efficiency criterion in choosing the financing sources. Data considered in the study are taken from financial statements of listed companies to Bucharest Stock Exchange, considering a sample of 80 units that constitute the working group. To achieve the research objectives were used as working methods: ratios technique, multiple correspondence factorial analysis, principal component analysis and discriminant analysis. Data processing was performed using the statistical software SPSS 19.00.