Financial Liquidity of the Furniture Industry Companies in Poland in 2006-2013
Abstract
The aim of the study was to present the diversity and conditions of companies' liquidity in the Polish furniture industry. In the analysis, the statistical data, CSO, 2006-2013 for the furniture manufacturing enterprise sector (Chapter 31 manufacturing, PKD 2007) was used. The carried out analysis showed that the furniture industry companies in Poland in the years 2006-2013 in general had the ability to meet their current liabilities. Current and quick liquidity developed for them on a stable and positive level, coinciding with the recommendations of the theory of finance. However, from the working capital cycle's point of view, the assessment of liquidity furniture manufacturing sector is clearly less favourable, and it results from relatively long collecting dues cycles ranging close to 60 days. The less favourable assessment comes from the fact that the long collecting dues cycles have effects on exceeding duration of the recovery measures' applications, which in turn, may turn into a build-up of the payment backlogs, and thus into reductions of the ability to finance business and into the risk of production's reduction.
Keywords
Financial liquidity; Furniture industry
References
GUS (2014). Bilansowe wyniki finansowe podmiotów gospodarczych za 2013 r. Warszawa: GUS. Pobrano 25 grudnia 2014 z: http://stat.gov.pl/obszary-tematyczne/podmioty-gospodarcze-wyniki-finansowe/przedsiebiorstwa-niefinansowe/bilansowe-wyniki-finansowe-podmiotowgospodarczych-za-2013-r-,9,12.html.
Ćwiąkała-Małys, A., Nowak, W. (2005). Zarys metodologiczny analizy finansowej. Wrocław: UW.
Sielicka, B. (2010). Zatory płatnicze niszczą polskie firmy. Pobrano 21 października 2013 z: http://www.bankier.pl/wiadomosc/Zatory-platnicze-niszcza-polskie-firmy-2258842.html.
Sierpińska, M., Jachna, T. (2004). Ocena przedsiębiorstwa według standardów światowych. Warszawa: Wyd. Nauk. PWN.
Sierpińska, M., Wędzki, D. (2001). Zarządzanie płynnością finansową w przedsiębiorstwie. Warszawa: Wyd. Nauk. PWN.
Skoczylas, W. (2007). Determinanty i modele wartości przedsiębiorstw. Warszawa: PWE.
Wędzki, D. (2003). Strategie płynności finansowej przedsiębiorstwa. Kraków: Oficyna Ekonomiczna.
Zaleska, M. (2002). Ocena ekonomiczno-finansowa przedsiębiorstw przez analityka bankowego. Warszawa: SGH.
Uniwersytet Przyrodniczy w Poznaniu Poland
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This journal permits and encourages authors to post items submitted to the journal on personal websites or institutional repositories both prior to and after publication, while providing bibliographic details that credit, if applicable, its publication in this journal.
Most read articles by the same author(s)
- Anna Bieniasz, Zbigniew Gołaś, The Substance and Diversification of the Financial Liquidity of Farms , Journal of Agribusiness and Rural Development: Vol 5 No 377 (2006): Roczniki Akademii Rolniczej w Poznaniu - Seria Ekonomia
- Zbigniew Gołaś, Anna Bieniasz, Financial Consequences of Differentiation of Strategy of Financial Liquidity in Agricultural Farms , Journal of Agribusiness and Rural Development: Vol 5 No 377 (2006): Roczniki Akademii Rolniczej w Poznaniu - Seria Ekonomia
- Zbigniew Gołaś, Anna Bieniasz, Strategies of Financial Liquidity of Individual Agricultural Farms , Journal of Agribusiness and Rural Development: Vol 5 No 377 (2006): Roczniki Akademii Rolniczej w Poznaniu - Seria Ekonomia
- Zbigniew Gołaś, Magdalena Kozera, Economic and Social Conditions for Changes in Income Structure of Individual Farms , Journal of Agribusiness and Rural Development: Vol 2 No 358 (2003): Roczniki Akademii Rolniczej w Poznaniu - Seria Ekonomia
- Zbigniew Gołaś, Magdalena Kozera, Technical, Economical and Social Conditions for Diversification of Labour Productivity in Family Farms , Journal of Agribusiness and Rural Development: Vol 2 No 358 (2003): Roczniki Akademii Rolniczej w Poznaniu - Seria Ekonomia
- Magdalena Kozera, Zbigniew Gołaś, The State Intervention at the Cereal Market in Poland , Journal of Agribusiness and Rural Development: Vol 2 No 358 (2003): Roczniki Akademii Rolniczej w Poznaniu - Seria Ekonomia