Financial and Spatial Analysis of the Economic Performance of International Automotive Companies in Hungary (2008–2020)

Lendvai, Tamás and Balogh, Virgínia and Tésits, Róbert and Alpek, Balázs Levente (2025) Financial and Spatial Analysis of the Economic Performance of International Automotive Companies in Hungary (2008–2020). MODERN GEOGRÁFIA, 20 (3). pp. 21-46. ISSN 2062-1655

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Abstract

The objective of this study is to examine the economic activity of foreign direct investment in Hungary, with a particular focus on Western and Central Transdanubia, and to analyse the financial outcomes resulting from it. The primary focus is on the operations of large multinational companies involved in the manufacturing industry. In this context, changes in property, plant, and equipment stock, the cash ratio, the quick liquidity ratio, and the loan-to-value ratio are subjected to analysis. The methodology employed to address the research questions involved an analysis of the Crefoport database. To test the hypotheses, we employed cluster analysis, forming groups from the examined firms based on the different variables considered and comparing them with their geographical positions. In addition to long-term solvency, the efficiency of asset utilisation also exhibits considerable variation. Moreover, no correlation was identified between geographical location and the solvency levels of the companies, despite their similar profiles.

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