WORKING CAPITAL MANAGEMENT IN THE FOOD INDUSTRY (Zarzadzanie kapitalem obrotowym w przemysle spozywczym)
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The article presents the results of research into the effectiveness of working capital management in the food industry. The research was carried out within a set of 30 sectors (classes) of the food industry in the period from 2005 to 2009, on the basis of unpublished data of the Central Statistical Office. The effectiveness of working capital management was assessed using the inventory, receivables and payables cycle and the cash conversion cycle as well as with regard to the rates of return achieved on assets and own capital. The research indicated that in sectors where the cycles mentioned were the shortest the rates of return were the highest. The advantageous impact of shortened working capital cycles on economic viability was also verified by means of the correlation and regression analysis.
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