THE COMPARATIVE ANALYSIS OF PROFITABILITY INDICATORS
OF COMPANIES BEFORE AND AFTER THE IMPLEMENTATION
OF INVESTMENT PROJECTS WITH NON-REFUNDABLE FINANCING

Iuliana Cenar, „1 Decembrie 1918” University of Alba Iulia, Romania
Mioara Turcas, Transilvania Banks

ABSTRACT: The overall objective of the research is a comparative analysis of profitability
indicators of companies in Alba before and after investment projects were implemented with nonrefundable financing. As the research involved companies with production activity and service
providing, the indicators that are targeted are the ones that imply permanent capital.
The research methodology was based on the documentation and the archive study of the balance
sheet and the financial statements of the companies that were surveyed, the case study method and
the comparison of the data before and after the implementation of investment projects with nonrefundable financing. The results of the research reflect the importance of permanent capital
acquisition in order to ensure the performance of the company.

Keywords: return rate, permanent capital, net profit, turnover, investment.

JEL Codes: M41, M21