Kapitał obrotowy netto jako determinanta operacyjnego bezpieczeństwa finansowego przedsiębiorstwa
Net working capital as a determinant of operational financial safety of enterprise

Summary/Abstract: The level and the structure of net working capital can be seen not only as important indicators of company liquidity and its solvency, but also as key measure that emphasizes the position of property owners and their participation in the financing of entity’s assets. The main aim of this article is to expose the role and the importance of net working capital in shaping operational financial safety of enterprises. The application character of this study is connected with the ability to assess the effectiveness of current assets management using the following four measures, namely: share of net working capital in current assets ratio (Pcan), safe current liquidity ratio (SCLqR), working capital requirements ratio (WCR) and net liquid balance ratio (NLB). Empirical studies have been carried out among 147 industrial companies listed on the Warsaw Stock Exchange in the years 2011-2015. The research uses financial information taken from the database of Notoria Serwis SA.

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