Paper Title
ANALYSIS OF COMPANY VALUE INDICATORS IN THE SERBIAN MARKET

Abstract
Abstract - The value of the company reflects the business propensity to grow, indicating the expected flow of income or future business cash flow. It reflects the ability of the company to increase its future wealth. This paper aims to determine the indicators of company value during the period 2019-2021 on a sample of 26 Serbian companies listed on the Belgrade Stock Exchange. Through panel regression analysis, the influence of variables such as profitability, leverage, liquidity, and size on the company’s value was concisely considered. Obtained results showed that liquidity and financial leverage measured by debt-to-equity ratio have a statistically significant negative effect on company value. On the other hand, financial leverage measured bydebt-to-asset ratio has a statistically significant positive effect on company value. The obtained results would create an adequate information basis for insight into the factors that decisively influence the Serbian firm value, and provide optimal available funds usage, competitive abilities strengthening, and meeting all internal and external stakeholders’ needs. Keywords - Company Value, Indicators, Analysis, Financial Statements, Serbia