Czy istnieje nadpłynność? Analiza związku między płynnością a rentownością
Is excess liquidity real? The analysis of relationship between liquidity and profitability

Summary/Abstract: Purpose – The purpose of the article is to verify the hypothesis, that too high liquidity level cause a decrease in the profitability of the enterprise. Design/methodology/approach – The usage of panel data model built on the financial results of enterprises of chosen GPW market sector. Findings – The hypothesis were confirmed that excessive liquidity has a negative impact on the level of the profitability, however, the level of liquidity ratios at which this phenomenon occurs, significantly exceeds the values generally considered to be normative. Originality/value – In many studies the relationship between liquidity and profitability is modeled as a linear relationship. This study assumes an approach, that is nonlinear.

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