Paradox of Operating Cycle: Entrepreneurial Financial Liquidity Management Experiences and Perspectives in EU and Outside EU: German, Austrian and French Data Illustration

2014 ◽  
Author(s):  
Grzegorz Marek Michalski
Keyword(s):  
Operating Cycle ◽  
Liquidity Management ◽  
Financial Liquidity

scholarly journals LIQUIDITY AS A MEASURE OF EFFICIENCY OF FRUIT AND VEGETABLE PRODUCER GROUPS AND ORGANIZATIONS

2018 ◽  
Vol 48 (2) ◽  
pp. 205-212
Author(s):  
Joanna Pawlak ◽  
Łukasz Kopiński ◽  
Dariusz Paszko ◽  
Barbara Banach-Albińska
Keyword(s):  
Liquidity Risk ◽  
Financial Statements ◽  
Fruit And Vegetable ◽  
Liquidity Management ◽  
Market Activity ◽  
Financial Condition ◽  
Research Material ◽  
Financial Liquidity ◽  
Further Development

This study attempts to assess the financial liquidityof fruit and vegetable producer groups and organizations.Based on static liquidity ratios, the analysis was used for a preliminaryassessment of the financial condition of the abovementionedeconomic operators in the context of forecastingtheir further market activity. Financial statements from 2012–2015 served as research material. The survey extended to 78groups and organizations of fruit and vegetable producers. Asshown by the results, most of the operators surveyed failed tomeet all the criteria of financial liquidity management. Theaverage and median values of current, quick and cash ratiossuggest that the operators face quite a high liquidity risk. Thiswas confirmed by the results of detailed studies which showedthat the liquidity ratios reported by ca. 60% of the operatorswere below the recommended optimum. Therefore, in the reportingperiod considered, such operators could be unable tomeet their liabilities as they fall due. This may pose a severethreat to their continued existence and further development.

scholarly journals The Analysis of Financial Liquidity Management in Small Transport Enterprises During the COVID 19 Pandemic - Case Study of Poland

2020 ◽  
Vol 17 ◽  
Keyword(s):  
Supply Chains ◽  
Small Enterprises ◽  
Financial Security ◽  
Liquidity Management ◽  
Transport Services ◽  
The Future ◽  
Financial Liquidity ◽  
Micro Enterprises

The crisis associated with the COVID-19 pandemic hit all industries in Poland. It is mostnoticeable for small and micro enterprises, which are particularly exposed to the risk of losingfinancial liquidity. Small payment bottlenecks, interruptions in production, sales or services,immediately affect the financial security of these entities. The COVID-19 pandemic has shaken thefinancial condition of virtually all service enterprises in Poland. Closing borders and quarantineforced on many entities hindered the flow of products in integrated supply chains, which significantlyimpacted the functionality of enterprises providing transport services. The purpose of this article is anattempt to present a strategy for managing liquidity in transport enterprises during the COVID-19pandemic. The article presents strategies for managing liquidity in the period before the pandemicand during its first three months. The article presents selected mechanisms that were used bymanagers of small enterprises at the time of the appearance of the COVID-19 pandemic. The periodof three months is too short a time to assess whether the tools used were effective and have broughtmeasurable benefits, which is why this article is an introduction to the wider research that will becarried out in the future.

scholarly journals Dynamic measurement of the financial liquidity of Polish companies listed on the Warsaw Stock Exchange between 2002 and 2017: cross-sectoral comparative analysis - Part 2

2020 ◽  
pp. 9-32
Author(s):  
Leszek Mosiejko ◽  
Michał Bernardelli
Keyword(s):  
Comparative Analysis ◽  
Stock Exchange ◽  
Listed Companies ◽  
Descriptive Statistics ◽  
Liquidity Management ◽  
Management Board ◽  
Warsaw Stock Exchange ◽  
Financial Liquidity ◽  
Changes Over Time ◽  
The Relationship

The purpose of the present research was to analyse Polish listed companies in terms of liquidity management in 2002-2017 in a dynamie context. Evaluation of the dynamie model of corporate financial liquidity was carried out with the use of classical descriptive statistics tools and methods applied in sueh analyses. The eompanies were analysed in the new seetoral layout implemented by the Management Board of the Warsaw Stoek Exehange in January 2017. The study of the dynamie finaneial liquidity of enterprises on the basis of seleeted ratios eonsisted of two parts. In the first part of the study, a series of medians was determined for eaeh of the liquidity ratios in partieular seetors. Eaeh element of the series is assoeiated with the quarter from whieh the data eame. The ratios within sectors were then compared so that coexistence of changes over time, shifts in rela- tion to one another, or the lack of clear interdependencies could be observed. Unlike the first part, which covered the relationship between the different ratios within a sector, the second part focuses on cross-sectoral comparative analysis. Descriptive statistics based on quantiles were derived for data covering the entire period under consideration and for all enterprises in the sector. Half of the surveyed listed companies (i.e. all the ratio values between the first and third quartiles), were adopted as the central standard. Numerical values of standards for particular ratios and sectors are presented in a tabular form.

scholarly journals An Analysis of the Financial Liquidity Management Strategy in Construction Companies Operating in the Podkarpackie Province

Risks ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 5
Author(s):  
Grzegorz Zimon ◽  
Joanna Nakonieczny ◽  
Katarzyna Chudy-Laskowska ◽  
Magdalena Wójcik-Jurkiewicz ◽  
Konrad Kochański
Keyword(s):  
Financial Management ◽  
Management Strategy ◽  
Management Strategies ◽  
National Court ◽  
Liquidity Management ◽  
Conservative Strategy ◽  
Construction Company ◽  
Construction Companies ◽  
Financial Liquidity ◽  
The Impact

The activity of each construction company in conditions of high competitiveness is exposed to a number of risks that make it difficult to maintain high financial liquidity. In order to provide the continuity of ongoing economic processes and to be able to develop, entities are forced to build optimal financial management strategies for them. Enterprises can choose between a conservative, moderate and aggressive strategy, which is largely determined by the way they manage their current assets and short-term liabilities. In the case of construction companies, it is also not without significance that they are particularly sensitive to fluctuations in the economic situation and changes in the macroeconomic environment, which imply the availability of funds. The purpose of this paper is to analyze the financial liquidity management strategy of construction sector Polish enterprises from the Podkarpackie Province in 2017–2019 and the impact of this strategy on the profitability of the surveyed entities. In order to achieve the goal, the issues related to the classification of financial liquidity and individual liquidity management strategies are discussed. The issues and the goal set determined the choice of research methods. Literature studies, the Mann–Whitney U test, cluster analysis and Ward’s method were used. The research was carried out on a group of the 10 largest construction companies from the Podkarpackie Province. The selection of entities for the research was deliberately based on enterprises that submit their financial statements to the National Court Register. The conducted research showed that small and large enterprises applied different liquidity management policies even though they operate in the same industry and region. The small entities preferred a conservative strategy, while large entities preferred a moderate strategy. The existence of an inverse relationship between the phenomenon of financial liquidity and profitability of economic entities was also confirmed.

scholarly journals FINANCIAL LIQUIDITY MANAGEMENT IN LOCAL GOVERNMENT UNITS OF THE EASTERN POLAND MACROREGION

2019 ◽  
Vol XXI (4) ◽  
pp. 136-144
Author(s):  
Agnieszka Gałecka ◽  
Agnieszka Cyburt
Keyword(s):  
Local Government ◽  
Research Methods ◽  
Lower Income ◽  
Liquidity Management ◽  
Urban Rural ◽  
The Subject ◽  
Financial Liquidity ◽  
Rural Municipalities

The aim of the study was to assess financial liquidity management in basic local government units of Eastern Poland. Aspects that were mostly considered include the awareness of the importance of financial liquidity among the chief accountants of the surveyed units, the occurrence of possible problems with the timely payment of liabilities and liquidity management instruments used. The research covered 210 local government units (100 rural municipalities, 100 urban-rural municipalities and 10 cities with district rights) from five voivodeships located in the Eastern Poland macroregion. The research methods that have been used include analysis of the subject literature and the method of the diagnostic survey using a questionnaire. The survey was conducted among chief accountants of the budget of selected local government units of the Eastern Poland macroregion. Based on the conducted surveys, it was found that the majority of managers of local government units noticed the importance of financial liquidity and in recent years did not notice problems with the timely payment of liabilities. Approximately 30% of respondents admitted to problems with financial liquidity. The main reason for the occurrence of disturbances in the timely payment of liabilities was achieving lower income and revenue than planned, as well as improper management. When analyzing applied liquidity management instruments, it was found that these were most often multi-annual financial forecasts and detailed schedules of income and expenses.

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