(2) The results of the analysis of the relationship of agro and food industry
business group reveal that cash flow ratios from operations to owner’s equity, cash flow ratios
from operations to total assets, cash flow ratios from operations to total liabilities, and cash
flow ratios from operations to investing in fixed assets are significantly related to financial
costs. As for controlled variable, which is business size, this is related to financial costs.
(3) The results of the analysis of the relationship of industrials business group
reveal that cash flow ratios from operations to owner’s equity, cash flow ratios from operations
to total assets, cash flow ratios from operations to total liabilities, and cash flow ratios from
operations to investing in fixed assets are significantly related to financial costs. As for
controlled variable, which is business size, this is related to financial costs.
(4) The results of the analysis of the relationship of property and construction
business group reveal that cash flow ratios from operations to owner’s equity, cash flow ratios
from operations to total assets, cash flow ratios from operations to operations earnings, and
cash flow ratios from operations to total liabilities are significantly related to financial costs.
As for controlled variable, which is business size, this is related to financial costs.