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Autor
Bieniasz Anna (Poznan University of Life Sciences, Poland), Gołaś Zbigniew (Poznan University of Life Sciences, Poland)
Tytuł
The Influence of Working Capital Management on the Food Industry Enterprises Profitability
Źródło
Contemporary Economics, 2011, vol. 5, nr 4, s. 68-81, tab., bibliogr. 24 poz.
Słowa kluczowe
Kapitał obrotowy, Stopa zwrotu, Przemysł spożywczy
Working capital, Rate of return, Food industry
Uwagi
summ.
Abstrakt
The article presents the results of working capital management efficiency in the food industry in Poland and selected countries of the Eurozone. The research was conducted on the basis of the unpublished data by the Polish Central Statistical Office in the trade structure and dimension of food industry enterprises in Poland in the period of 2005-2009, and comparatively, in respect of the food sector in selected Eurozone countries. The working capital management efficiency was assessed by means of the inventory, accounts receivables, current liabilities turnover cycles, cash conversion cycle, and in respect of the obtained rates of return from non-financial assets. The research proved that in the food industry sectors with the shortest working capital cycles, relatively higher rates of profitability were obtained. A favorable influence of working capital cycles reduction of the profitability was also verified by means of a multiple regression analysis. (original abstract)
Pełny tekst
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Bibliografia
Pokaż
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  5. Gill A., Biger N., Mathur N. (2010). The relationship between working capital management and profitability: evidence from The United States. Business and Economics Journal vol. 10: 1-9.
  6. Howorth C., Westhead P.( 2003). The focus of working capital management in UK small firms. Management Accounting Research vol. 14: 94-111.
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  9. Mohamad N.E.A, Saad N.B.M. (2010). Working capital management: The effect of market valuation and profitability in Malaysia. International Journal of Business and Management vol. 5(11): 140-147.
  10. Nabone H., Abdullatif M., Al Hajjar M. (2010). Cash conversion cycle and firm's performance of Japanese firms. Social Science Research Network. Dostępne na: http://papers.ssrn.com .
  11. Niepublikowane dane Głównego Urzędu Statystycznego: F0-2, statystyczne sprawozdanie fi nansowe, produkcja artykułów spożywczych, produkcja napojów, GUS, Warszawa, 2011.
  12. [Unpublished Data of the Central Statisitical Office: F0-2, statistical financial statement, groceries production, bevereages production, GUS, Warsaw, 20011.]
  13. Ózbayrak M., Akgiin M. (2006). The effects of manufacturing control strategies on the cash conversion cycle in manufacturing systems. International Journal of Production Economics, vol. 103: 535-550.
  14. Padachi K. (2006). Trends in working capital management and its impact on firm performance: An analysis of Mauritian small manufacturing firms. International Review of Business Research Papers vol. 2: 45-58.
  15. Polska Klasyfikacja Działalności - PKD: Załącznik do rozporządzenia Rady Ministrów z 24.12.2007, Dz. U. 251, poz. 1885, GUS, Warszawa, 2007. Dostępne na: http://www.stat.gov.pl/[Polish Classification of Activity - PKD: Annex to Ordinance of the Council of Ministers of December 24, 2007, Official Journal 251, item 1885, Central Statisitical Office, Warsaw, 2007. Available on: http://www.stat.gov.pl/]
  16. Raheman A., Nasr M. (2007). Working capital management and profitability - Case of Pakistani firms. International Review of Business Research Papers vol. 3(1): 279 - 300.
  17. Ramachandran A., Janakiraman M. (2009). The Relationship between working capital management efficiency and EBIT. Managing Global Transitions v. 7(1): 61-74.
  18. Richards, V.D., E.J. Laughlin (1980). A cash conversion cycle approach to liquidity analysis. Financial Management vol. 9: 32-38.
  19. Shin H. H., Soenen L. (1998). Efficiency of working capital management and corporate profitability. Financial Practice and Education vol.8(2): 37-45.
  20. Sierpińska M., Jachna T. (2004). Ocena przedsiębiorstwa według standardów światowych. Warsaw:
  21. PWN. [Enterprise Assessment by Means of World Standards, Warsaw: PWN]
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ISSN
2084-0845
Język
eng
URI / DOI
http://dx.doi.org/10.5709/ce.1897-9254.29
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