Płynność finansowa i wzrost przedsiębiorstw – analiza na przykładzie spółek notowanych na GPW w Warszawie
Financial liquidity and companies’ growth – the relationship analysis basing on Warsaw Stock Exchange

Summary/Abstract: Purpose - The aim of the article is to assess the impact of financial liquidity on the growth of enterprises listed on the Warsaw Stock Exchange. Design/methodology/approach - A cross-sectional regression survey was conducted on annual data from financial reports of companies from the main trading floor of the WSE. Findings - A small significant correlation was found between financial liquidity and the growth of enterprises. The drop in the number of days in the cash conversion cycle has a positive effect on the growth of enterprises in each analyzed time perspective related to growth. It was also found that the larger the company, the smaller its growth measured by the increase in the value of earnings per share. Originality/value - Research on the impact of financial liquidity on the growth of mature enterprises confirms the theory that a more aggressive liquidity policy affects a higher increase in earnings per share.

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