Strategie zarządzania kapitałem obrotowym netto a rentowność polskich spółek giełdowych
Management Strategies of Net Working Capital in Relation to Profitability of Polish Stock Companies

Summary/Abstract: The main aim of the following study is exploring bilateral nature and level between the established management strategy of net working capital, which determines cash flow, and profitability of particular stock companies. The leading theoretical and empirical current attempts to verify the thesis which claims that growth of stock companies profitability is most often attained by maintaining the right cash flow. The study comprises of certain companies from electro mechanical sector which were listed on Warsaw Stock Exchange as of 01.10.2017. The diagnosis was based on a variety of annual financial reports dated 2007–2016. It can be confirmed that by analysing empirical findings, the main study thesis was not validated since all the factors between profitability, number of assets and equity proved to be positive and statistically vital in comparison to net working capital and cash flow indicators. Moreover, in the analysed units there was rather a conservative policy of cash flow.

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