财务报表分析外文文献翻译 2017.docx

外文文献翻译 原文及译文 原文 Financial statement analysis of logistics service providers: ways of Enhancing performance Hofmann and LampeLampe Hofmannservice were examined. A detailed balance sheet analysis using contingency theory, complemented by a correlation analysis, provides information about the financial structure, similarities and differences within and in-between the LSP clusters. Findings - It was found that there are many differences regarding the financial structures of LSPs. The asset and liquidity structure of LSPs show significant differences, while the capital structure is mostly homogeneous. Profitability is achieved in various ways: Focusing on high net profit margin or asset turnover rates. Research limitations/implications - Only quoted LSPs are analyzed. With this broad research approach the authors point out the range of possibilities for financial statement analysis of LSPs and demonstrate the potential Practical implications - Financial analysis yields information for making strategic decisions including organic growth, outsourcing, mergers and acquisitions or cooperation between LSPs. Originality/value - This paper contributes to further performance examinations of LSPs by providing a profound financial statement analysis with potential benefits for logistics executives, analysts and researchers. Keywords: Financial performance, financial statements, Balance sheet analysis, Asset structure, Capital structure, Liquidity structure, Profitability, Cross cluster correlation, Contingency theory. 1 Introduction In recent years, the demand for global logistics services has been increasing consistently ([28] Harrison and van Hoek, 2010). In order to compete in global markets, companies in all industry sectors strive for improved efficiency, so that logistical performance has become a substantial business challenge and key success factor ([8] Bowersox et al. , 2007; [9] Branch, 2009; [37] Liu and Lyons, 2010). To meet this challenge, companies whose core-com