Bezpieczeństwo finansowe polskich gospodarstw rolnych. Propozycja ujednoliconej miary
Financial Security of Polish Farms: Proposal for a Unified Measure

Summary/Abstract: The main objective of the work was to present a proposal for a methodologicalcomposition of the financial security measure for Polish farms. The developed indicatortakes into account five factors derived from the indicator analysis of financial data.The subject of the research were farms from Poland that keep agricultural accountsunder the FADN system. The object of research is their financial security. They weremeasured on the basis of indicators in the field of property and capital relations, liquidityand debt, efficiency of operations and financial effectiveness. First, the state of financialsecurity in the Polish farm sector was described against the background of averageresults observed in the European Union in the years 2004–2020. Then, on the basisof the experimental aggregate indicator of financial security, a ranking of farms for2020 was created, showing the 10 highest and lowest results. In the final part of the work,the sensitivity of the BF indicator was examined on selected 12 basic production, economicand financial categories using the classical method of least squares with a constant.It can be concluded that Polish farms are financially secure, which results from thepredominance of fixed assets in the total balance sheet, maintaining the golden balance sheetrule, over-liquidity, low debt, a positive share of net working capital in the total balancesheet and noticeable profitability. In addition, their results do not differ significantly fromthe average level observed in the 28 countries of the EU. Based on the ranking, it has beenshown that the smallest farms up to 12 ha, with an income of up to approx. euro 11,000,tend to maintain excessive financial security, regardless of the direction of production. Thisis confirmed by the results of estimated models with single variable. The higher the financialsecurity of the farm, the lower the assets, liabilities, income and cash flow.

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