Finanse, Rynki Finansowe, Ubezpieczenia
Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia
Wpływ płynności na efektywność działania przedsiębiorstw notowanych na NewConnect
(The Impact of Financial Liquidity on the Effectiveness of the Companies Listed on NewConnect)
DOI: 10.18276/frfu.2016.4.82/2-01
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| ISSN: | 2450-7741 |
| eISSN: | 2300-4460 |
| Authors: | Monika Bolek |
| Keywords: | financial liquidity profitability |
| Issue / book publication date: | 2016 |
| Page range: | 18 (13-30) |
| OAI-PMH: | Metadata |
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Abstract
Purpose – The purpose of the study is to present the relationship between liquidity and profitability. Verified hypothesis is: Liquidity affects the efficiency of companies listed on NewConnect. Research methodology – Analysis of correlation and regression on cross-sectional data was performed on a group of non-financial companies listed on NewConnect in 2007–2013. Financial ratios are calculated independently, using financial documents, made available by Notoria. Result – The hypothesis was verified positively by stating that liquidity affects the efficiency of enterprises. The cash conversion cycle has a negative impact on the return on equity, assets and its operating margin and current ratio positive, as cash flow from operating activities. Originality/value – The key relationships in the area of liquidity and efficiency in the context of the development of companies that are in the phase of commercialization and which are listed on the alternative stock market NewConnect were analyzed.
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