SUMMARY
Corporate liquidity is influenced by many factors which derived both from the company itself, as well as from the company’s environment. This paper focuses on the internal determinants of corporate liquidity. The aim of this paper is to show which company’s performance indicators are main determinants of the liquidity of selected companies in Serbia, Croatia and Montenegro, and whether these determinants are specific only to the companies in this region. The companies that make sample are non-financial companies whose shares are parts of regional capital market indices - BELEX15, CROBEX10 and MONEX20. The values of the liquidity indicators of these companies indicate solid liquidity. The most important determinants of corporate liquidity are firm size, leverage and capital structure. The results show that the dominant motive of holding liquid assets in our sample is precaution, that indicates the way the crisis has affected the business operation of the analyzed companies.