Wykorzystanie modelu regresji wielorakiej do określenia czynników kształtujących poziom kapitału obrotowego w przedsiębiorstwach przemysłowych
The application of multiple regression model for determining factors shaping the level of working capital in industrial companies

Summary/Abstract: The article presents variables determining the value of the working capital in industrial companies. Moreover, it points out the force and the directions of the influence of those factors on the amount of working capital. An econometric linear model (multiple regression model), estimated by the smallest squares method, has been used to accomplish the defined aim of the work. The research involved 32 industrial companies registered at the Warsaw Stock Exchange and concerned the period of years between 2004-2012. The effects of the conducted analysis indicate that to shape the level of working capital, which is reflecting the use of a defined working capital management strategy, it is crucial to pay attention to the individual financial liquidity indicators, rotation, debt and the structure of the companies’ property and capital. The results of the research have not confirmed the significant correlation between the value of the working capital and the companies’ effectiveness indicators.

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