ANALYSIS OF THE CORRELATIONS BETWEEN THE DEGREE OF
    INDEBTEDNESS AND THE PERFORMANCE OF THE ECONOMIC
              ENTITIES FROM EMERGING ECONOMY


                     Anatol MELEGA1 ORCID: 0000-0003-4763-0520
                Anamaria Geanina MACOVEI 2 ORCID: 0000-0002-7995-1145
                     Veronica GROSU 3 ORCID: 0000-0003-2465-4722
                   Marian SOCOLIUC 4 ORCID: 0000-0001-6378-6686


Abstract: The purpose of this research is to assess the performance of the economic entities that
are part of the BRICS economies (Brazil, Russia, India, China, South Africa). Thus, the following
objectives have been set to achieve the intended purpose: O1 - analysis and evaluation of the
economic performance that were reported by entities in the emerging BRICS economies; O2 –
identification of the correlations between the performance indicators that were reported by entities
from emerging BRICS economies (Return on Assets; level of indebtedness; equity ratio; Earnings
Before Interest, Taxes, Depreciation, and Amortization growth). For these objectives to be
achieved, we have collected and analyzed the financial data from the reports of 50 companies that
are listed on a regulated market in Brazil, Russia, India, China and South Africa. This research
focuses on assessing the effects of the financial report and of the level of indebtedness on the
performance of the entities from emerging BRICS economies. Research is relevant to current and
potential investors interested in emerging BRICS economies, as well as for other categories of
stakeholders.

Keywords: BRICS, performance, emerging market, key performance indicators

JEL Classification: M40, C22, F23, F38




1
  Student PhD., Department of Accounting, Auditing and Finance, Faculty of Economics, Administration and
Business, Ștefan cel Mare University, Suceava, Romania, E-mail: melega.anatol@gmail.com
2
  Lecturer PhD., Department of Accounting, Auditing and Finance, Faculty of Economics, Administration and
Business, Ștefan cel Mare University, Suceava, Romania, Suceava, Romania, E-mail: anamaria.macovei@usm.ro
3
  Professor PhD., Department of Accounting, Auditing and Finance, Faculty of Economics, Administration and
Business, Ștefan cel Mare University, Suceava, Romania, E-mail: veronica.grosu@usm.ro
4
  Associate Professor, Department of Accounting, Auditing and Finance, Faculty of Economics, Administration and
Business, Ștefan cel Mare University, Suceava, Romania, E-mail: mariansocoliuc@yahoo.com
DOI: 10.29302/oeconomica.2021.23.2.6
Pp. 55-67