Search results - CEJSH

1

THE INFLUENCE OF LIQUIDITY ON PROFITABILITY OF POLISH CONSTRUCTION SECTOR COMPANIES

100%

Bolek M., Wiliński W.

Finansowy Kwartalnik Internetowy e-Finanse

|

2012

|

vol. 8

|

issue 1

38-52

EN

The concept of financial liquidity is not very straight, as it has various aspects, although generally it refers to the current assets and liabilities management. Financial liquidity together with profitability are the core categories of enterprise activities which, in order to function efficiently, the company should treat as equally important. The growth of financial liquidity may negatively influence the company profitability. If the company is to liquid in the static sense than it will affect negatively the profitability since some capital will be frozen in current assets. In this article, the authors analyze theoretical aspects of the relation between liquidity and profitability, whereas the empirical part they examine this interdependence on a group of construction sector companies listed on Warsaw Stock Exchange.

2

Analiza działalności innowacyjnej przedsiębiorstw przemysłowych w Polsce w latach 2006-2011

80%

Ginter M.

Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu

|

2013

|

issue 3 (24)

89-105

EN

The demand for manufactured products and services, hunting for as biggest number of consumers as possible, meeting their expectations and at the same time ensuring the profitability of the conducted economic projects is a problem in today’s world. The primary operator who will decide on this success is a company functioning in a competitive market. Companies use a lot of development strategies to improve their level of competitiveness and to enhance and strengthen their position in the markets. One of them is a development strategy based on innovation. The purpose of this work is analyzing the level of innovation in Polish industrial businesses in years 2006-2011. The article shows data about productive and technological innovations as well as expenditures incurred by industrial businesses on innovative activity and the analysis of reached incomes from the introduced productive innovations. This analysis shows that industrial businesses which are part of productive and technological innovations have lowered in years 2006-2011. These businesses often introduce technological rather than productive innovation. The most frequent innovations are introduced by larger companies which hire over 250 employees from Podkarpackie Voivodeship and the least by companies from Łódź Voivodeship. The biggest expenditures on innovative activity were allocated by businesses in 2008 and 2010, mainly from Mazovia and Upper Silesia Voivodeships. The intensity of expenditures on B+R raised just by 0.04% to the level of 0.56% in 2010. Big differentiation is noticeable on the grounds of innovation of companies operating in a given area. Dominant role in innovation activity belongs to Mazovia and Upper Silesia Voivodeships.

3

Absorption of EU Funds in the Context of Polish Enterprises Competitiveness Measured by Profitability Ratios

80%

Wildowicz-Giegiel A., Wyszkowski A.

Oeconomia Copernicana

|

2015

|

vol. 6

|

issue 1

113-123

EN

Competitiveness at the firm level is a subject of interest not only to managers and policy makers but also academics. An effective functioning under the conditions of new economy requires from the enterprises to develop their core capabilities and talents along with the ability to quickly identify and seize the opportunities generated by market environment. The implementation of such an approach allows the creation and sustain of economic surpluses in the long-run. The paper aims to examine the profitability of enterprises in Poland which is regarded in the context of absorption of EU funds in years 2007–2013. Taking into account that Poland became one of the largest beneficiaries, it is worth ana-lyzing the impact of EU funding on the economic performance of Polish enterpris-es. The paper offers a critical reflection on the relationship between the absorption of EU funds and Polish enterprises competitiveness on the basis of the content analysis literature and statistical data derived from the European Commission, the Central Statistical Office and the Ministry of Regional Development. It is assumed simultaneously that the competitiveness of enterprises is expressed in the term of profitability rates. In spite of limitations which relate to the adopted definition of competitiveness and the short period of the conducted analysis concerning the key relationship, the paper contributes to the debate on the significance of EU Funds in the process of building modern and innovative economy.

4

Dependencies between financial ratios among companies listed on the Warsaw Stock Exchange

80%

Pilch B.

Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie

|

2021

|

vol. 50

|

issue 2

37-51

PL

Zależności między wskaźnikami płynności, rentowności i zadłużenia są zwykle dość niejasne. Wiele analiz empirycznych dostarcza wglądu w tę kwestię. Jednak wyniki takich badań są zróżnicowane i często niespójne. Wobec tego zdecydowano się zweryfikować relacje pomiędzy tytułowymi grupami wskaźników, biorąc pod uwagę polski rynek kapitałowy. Metodologia badania obejmowała przede wszystkim przegląd literatury i analizę danych (z użyciem statystyk opisowych i korelacji). W próbie badawczej uwzględniono większość spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie, obejmowała ona lata 2015–2019. Na podstawie tej analizy wysnuto poniższe wnioski. W odniesieniu do wskaźników płynności warto zwrócić uwagę, że ich wartości są silnie zróżnicowane. Przeciętnie wydaje się, że analizowane podmioty charakteryzowały się dość bezpiecznym poziomem płynności. Większość jednostek generowała też dochód (ponad 60% przypadków). Poziom ich zadłużenia był przeciętny, ale wskaźniki pokrycia kształtowały się zazwyczaj na w pełni zadowalającym poziomie. Relacje pomiędzy wskaźnikami płynności i rentowności były zróżnicowane, nie było między nimi istotnej korelacji. Średni wzrost rentowności / płynności prowadził zaś do nieznacznie ujemnych lub żadnych istotnych zmian w płynności / rentowności. Zależność między rentownością a zadłużeniem była natomiast raczej ujemna. Podobnie ujemną korelację zaobserwowano w przypadku płynności i poziomu zadłużenia.

EN

The dependencies between liquidity, profitability and indebtedness ratios are usually quite unclear. Many empirical studies provide insight into this issue. However, research results are varied and often inconsistent. Hence, it was decided to verify the relationships between the title groups of indicators, taking into account the Polish capital market. The research methodology included mainly the literature review and data analysis (using descriptive statistics and correlation). The research sample consisted of the majority of companies listed on the Warsaw Stock Exchange and covered the period 2015–2019. Based on this analysis, the following conclusions were drawn. Regarding liquidity ratios, it is worth pointing out that their values are strongly differentiated. On average, it seems that analyzed entities were characterized by quite a safe level of liquidity. Most of the companies were also generating income (in more than 60% of cases). The level of their indebtedness was medium, but coverage ratios were at a fully satisfactory level on average. The relationships between liquidity and profitability indicators were varied, there was no significant correlation between them. An increase in profitability/ liquidity on average led to slightly negative or no relevant changes in liquidity/ profitability. For the dependence between profitability and indebtedness, it was rather a negative one. Similarly, a negative correlation was observed in the case of the liquidity and the level of indebtedness.

5

Tendencje rozwojowe chowu bydła mlecznego w aspekcie opłacalności produkcji mleka

80%

Będzikowska L.

Zeszyty Naukowe PWSZ w Płocku. Nauki Ekonomiczne

|

2015

|

vol. 1(21)

183-191

EN

In Poland dairy farming has become more concentrated for the last 10 years. However the extent of fragmentation is still higher than in Western European countries. Only farms with more than 35 cows and with an average milk production of at least 6000 1/year will retain potential for growth and market competitiveness. In the Płock region there are still unused opportunities for the growth of dairy production if the scale of production is increased.

6

Hospodářský výsledek chovu dojnic u podniků s pastevním a nepastevním hospodařením

80%

Jan F., Martin Š., František S., Jana L.

Littera Scripta

|

2011

|

vol. 1

23-30

EN

The eectiveness of the milk production was evaluated in fifty farms with seasonal pasture or indoor breeding on the basis of questionnaires data on structure and financial health. The pyramid analysis of relative changes in profit (loss) was used. On farms with pasture management the loss of 3,255 CZK per cow was found, whereas on farms with indoor management the profit 1,145 CZK per cow was found. The lower milk performance of cows on farms with pasture management was the main reason of the increase of the unit costs from 8.299 to 9.089 CZK, which lead to the relative crossing of the unit costs due to the intensity of the production by 4,291 CZK. Costs per a cow on farms with pasture management were lower than on farms with indoor management. The main factor which caused the decrease in prot per a cow on farms with pasture management was a low dependence of the costs on the performance dynamics.

7

Rentowność szpitali samorządowych w Polsce

80%

Prędkiewicz K., Prędkiewicz P., Węgrzyn M.

Nauki o Finansach

|

2014

|

issue 3(20)

28-43

EN

The purpose of this paper is to evaluate public hospitals profitability in Poland. The research was carried out on the basis of 67 financial statements and covers the period of time from 2009 to 2011. It has been hypothesized that the profitability of hospitals is systematically deteriorating due to cost pressure and the lack of a significant increase in revenues. In 2009, more than half of hospitals had a net profit and operating profit, while in 2011 only one-third. The average ROA, ROE and EBIT margin and ROS in each year were negative in the research sample. An exception was the average EBITDA margin. However, in hospitals which had an operating profit, ROS and EBIT margin was rather low and achieved approximately a value of 2%.

8

Factors determining the profitability of enterprises - influence assessment

80%

PARKITNA A., SADOWSKA B.

Operations Research and Decisions

|

2011

|

vol. 21

|

issue 2

45-63

EN

The purpose of the paper is to demonstrate existence and intensity of correlation between determining factors and a state of profitability of Polish enterprises. The scope of the paper includes identifying the factors that determine enterprises profitability, creating an econometric model and conducting analysis of influence of determining factors and their intensity have on profitability of studied population of enterprises in Poland.

80%

Bolek M., Pluskota A., Wolski R.

Finanse i Prawo Finansowe

|

2021

|

issue Numer Specjalny

7-24

EN

The goal of this paper is related to the liquidity and profitability relationship analysis and their maxima assessment in the companies listed in the main and alternative markets of Warsaw Stock Exchange. The trade-off between maximum profitability and liquidity is the result of value maximization and bankruptcy prevention strategies and this approach is expected to be similar in all listed companies due to investors’ expectation. It has been found that there is no difference in management goals in the markets taken into consideration and companies in both research samples maximize profitability within a conservative approach to the liquidity. The maximum liquidity, on the other hand, is determined with a similar level of profitability as measured by ROE on the main market of WSE and NewConnect.

15

WORKING CAPITAL MANAGEMENT, PROFITABILITY AND RISK – ANALYSE OF COMPANIES LISTED ON THE WARSAW STOCK EXCHANGE

80%

Bolek M.

Finansowy Kwartalnik Internetowy e-Finanse

|

2013

|

vol. 9

|

issue 3

1-10

EN

This paper presents the problem of working capital management, profitability and risk represented by working capital strategy. According to the theory the more working capital is engaged in the company resulting in higher liquidity the lower the profitability and risk connected to the liquidity. On the other hand we can expect that the lower the working capital level and hence the liquidity the higher the profitability and risk., The author decided to test companies listed on the Warsaw Stock Exchange to see if balance sheet structure and risk connected to working capital strategy were related to the return measured by ROA and ROE in non-financial companies in the period 1997–2007. The results presented below show a lack of correlation between working capital strategies (and the related risk levels) and the returns on assets and equity.

16

Methods of evaluating long-term financial effects of energy efficiency projects

80%

Sajter D.

Business and Economic Horizons

|

2017

|

vol. Volume 13

|

issue Issue 3

295-311

EN

Financial analysis of investments aimed at energy efficiency improvement differs from the standard investment analysis. The purpose of this article is to provide an overview of methodological approaches to evaluation of energy efficiency projects’ financial effects. Its contribution lies in providing conceptual framework for the analysis of energy efficiency methodology, as well as in comprehensive literature review. The findings show that the methods used for evaluation of financial effects of energy efficiency projects are determined by the three main categories: scope, timing, and approach.

17

Relationship between ESG and Financial Performance of Companies in the Central and Eastern European Region

80%

Siwiec K., Karkowska R.

Central European Economic Journal

|

2024

|

vol. 11

|

issue 58

178-199

EN

Observable climate change and an increase in the frequency of extreme climate events undoubtedly pose challenges for society and business operations. The changes being implemented in sustainability efforts are a response to these challenges. However, the question is how these measures affect companies‘ financial performance. The study aims to verify the relationship between the reporting of sustainability scores related to three aspects: environmental, social, and corporate governance (ESG). It focuses on the financial performance of companies in the Central and Eastern Europe (CEE) region in 2017-2021. The study will use panel regression and cross-sectional analysis. The results indicate a positive relationship between the disclosure of ESG activities and the financial performance of companies as measured by ROA. It was also observed that for companies operating in the financial sector, the correlation is greater, compared to companies operating in other sectors. This study contributes to the ongoing debate on the environment, society, and governance in the economy.

18

Interdyscyplinarna analiza rentowności

71%

Kopiński A.

Kwartalnik Nauk o Przedsiębiorstwie

|

2015

|

vol. 34

|

issue 1

102-104

PL

Recenzja książki: Rentowność przedsiębiorstw w Polsce, Zbigniew Dresler, redakcja naukowa, Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie, Kraków 2014, s. 29

19

Effects of Fiscal Preferences on Profitability of Enterprises Against the Gross Domestic Product in Poland

70%

Lisowski R., Woźniak M.

Central European Review of Economics & Finance

|

2022

|

vol. 36

|

issue 1

37-52

EN

Fiscal preferences belongs to the measures of public policy which aim is supposed to fix the market failures. However, there is a shortage of studies which evaluates the effects of the fiscal instruments on enterprises from all sectors. Moreover, it is not clear how strong their influence in comparison to other external factors. One of the most important of the external determinants is the economic growth. Therefore, the aim of the paper is to analyze the effects of fiscal preferences on profitability of enterprises against the Gross Domestic Product (GDP) and its components in Poland. We set three hypotheses but only two of them could be confirmed and only in some part. The effects of the fiscal instruments on profitability is positive although only for some kinds of enterprises. It was a little stronger impact than for selected macroeconomic variables connected with GDP. However, one must take into consideration that the impact of GDP or some of its components is negative and regards medium-sized companies.

20

Factors Affecting Profitability of Insurance Companies. Evidence from Kosovo

70%

Ahmeti Y., Iseni E.

Academicus. International Scientific Journal

|

2022

|

vol. 13

|

issue 25

122-142

EN

Profitability expresses the ability to make a profit from all the business activities of the company. It shows how efficiently management generates profit by utilizing all available resources. This paper examined the effects of specific company factors, namely independent variables such as: liquidity, company size, company age, tangible asset, leverage, company capital and growth of com-pany, on profitability represented by return on assets (ROA) and net profit margin (NPM) as a dependent variable. The sample in this study includes eleven insurance companies for the period 2015 - 2020. The regression results indicate that size, leverage and age of company, have significant effects on the ROA. Meanwhile in NPM of insurance companies in Kosovo size of company and firm growth have significant effects.

Refine search results