Self-financing Capacity and Capitalization in an International Comparison. Cash-flow and Equity in 1997

The annual review of the profitability of the Austrian manufacturing sector exhibits two important new features in 1997: First, the new BACH database for the first time allows conducting an EU-wide comparison of profitability based on detailed balance sheet data. Secondly, we have introduced a new econometric model to forecast the cash-flow to sales ratio by using a panel approach.