BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Autor
Bolek Monika (University of Lodz, Poland), Grosicki Bartosz (University of Lodz, Poland)
Tytuł
Forecasting Liquidity in Traditional and Technology-Based Sectors - The Case of Poland
Źródło
e-Finanse, 2013, vol. 9, nr 4, s. 25-38, tab., bibliogr. 31 poz.
Słowa kluczowe
Płynność finansowa, Prognozowanie, Wskaźniki płynności finansowej
Financial liquidity, Forecasting, Liquidity ratios
Uwagi
summ.
Abstrakt
The present paper explores the possibility of forecasting company liquidity based on testing the coefficient of variability. Secondly, it analyzes static and dynamic liquidity measures to ascertain which are better at prediction in the traditional and technology-based sectors. It was assumed that the cash conversion cycle should be the more predictable measure and forecasts using it should be more accurate for traditional companies, but the CCC has turned out to work better for technology-based businesses listed on the Warsaw Stock Exchange. Poland is an example of a developing market that has undergone a transformation and has not been dramatically affected by the crisis, and we believe that our research may reveal some liquidity-related economic patterns applicable not only to other in-transition and developing countries, but also to countries facing economic problems. The study was conducted on the non-financial companies listed on the WSE in the period 1997-2010. (original abstract)
Pełny tekst
Pokaż
Bibliografia
Pokaż
  1. Atkinson, A. A., Waterhouse, J. H., Wells, R. B. (1997). A Stakeholder Approach to Strategic Performance Measurement, Sloan Management Review, 38(3), 25-37.
  2. Aziz, A., Lawson, H. G. (1989). Cash Flow Reporting and Financial Distress Models: Testing of Hypotheses, Journal of Financial Management, Spring, 55-63.
  3. Bianchi, C., Montemaggiore, G. B. (2008). Enhancing Strategy Design and Planning in Public Utilities Through "Dynamic" Balanced Scorecards: Insights from a Project in a City Water Company, System Dynamics Review, 24(2), 175-213, DOI: 10.1002/sdr.395.
  4. Bieniasz, A., Czerwińska-Kayzer, D. (2008). Płynność finansowa a wskaźniki aktywności. Stowarzyszenie ekonomistów rolnictwa i agrobiznesu. Roczniki Naukowe, Tom VIII, Zeszyt 1.
  5. Bieniasz, A., Czerwińska-Kayzer, D. (2008). Cykl środków pieniężnych i jego przydatność w określaniu płynności finansowej oraz sprawności działania przedsiębiorstwa. Stowarzyszenie ekonomistów rolnictwa i agrobiznesu. Roczniki Naukowe, Tom IX, Zeszyt 3.
  6. Bolek, M., Wolski, R., (2012). Profitability or Liquidity: Influencing the Market Value-The Case of Poland, International Journal of Economics and Finance, 4(9), 182190, DOI: 10.5539/ijef.v4n9p182.
  7. Bolek, M., Wolski, R. (2011). Związek cyklu konwersji gotówki ze wskaźnikami płynności przedsiębiorstw notowanych na GPW w Warszawie. Zarządzanie finansami firm - teorie i praktyka. Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu. Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu, 158, 28-37.
  8. Bolek, M., Wolski, R. (2010). Mierniki płynności a rentowność przedsiębiorstwa. Ekonomika i Organizacja Przedsiębiorstwa, 9 , 44-52.
  9. Chakravarthy, B. S. (1987). On Tailoring a Strategic Planning System to its Context: Some Empirical Evidence, Strategic Management Journal, 8(6), 517-534, DOI: 10.1002/smj.4250080603.
  10. Coates, J. B., Davis, E.W., Emmanuel, C. R., Longden, S. G., Stacey, R. J. (1992). Multinational Companies Performance Measurement Systems: International Perspectives, Management Accounting Research, 3(2), 133-150, D0I:10.1016/S1044-5005(92)70008-0.
  11. Emery, G. (1984). Measuring Short-Term Liquidity, Journal of Cash Management, July/August, 25-32.
  12. Gill, A. (2011). Factors That Influence Working Capital Requirements, Canada Economics and Finance Review, 1(3), 30 - 40.
  13. Greenley, G. E. (1986). Does Strategic Planning Improve Company Performance? Long Range Planning, Special Theme The Strategic Management of Technology, 19(2), 101 -109, D0I:10.1016/0024-6301(86)90226-8.
  14. Hager, H.C. (1976). Cash Management and Cash Cycle, Management Accounting, March, 19-21.
  15. Kamath, R. (1989). How Useful are Common Liquidity Measures?, Journal of Cash Management, January / February, 24-28.
  16. Malaska, P. (1985). Multiple Scenario Approach and Strategic Behavior in European Companies, Strategic Management Journal, 6(4), 339-355, DOI: 10.1002/ smj.4250060404.
  17. Malaska, P., Malmivirtab, M., Meristoa, T., Hansénc, S. O. (1984). Scenarios in Europe-Who Uses Them and Why? DOI:10.1016/0024-6301(84)90036- 0.
  18. Mascarenhas, B. (1981). Planning for Flexibility, Long Range Planning, 14(5), 78-82, DOI: 10.1016/0024-6301 (81)90011-X.
  19. Mauboussin, M. J., Kawaja, S. G. (1999). Atoms, Bits and Cash, Credit Suisse First Boston Corporation Report, 1-29.
  20. Moss, D. J., Stine, B. (1993). Cash Conversion Cycle and Firm Size: A Study of Retail Firms, Managerial Finance, 19(8), 25-34.
  21. Nesteruk, J., Żmuda, J. (2005). Statyczna a dynamiczna ocena płynności finansowej przedsiębiorstwa, Zeszyty Naukowe, Wyższa Szkoła Ekonomii i Informatyki w Krakowie, Zeszyt nr 3, Kraków, 73- 90.
  22. Largay, J. A., Stickney, C. P. (1980). Cash Flows Ratio Analysis and the W.T. Grant Company Bankruptcy, Financial Analysts Journal, July/August ,51-54.
  23. Lyroudi, K., Rychter (Bolek), M. (2012). An Investigation of the Companies' Liquidity and the Factors Affecting it: The Case of Poland, Multinational Finance Society Annual Conference.
  24. Lyroudi, K., McCarty, D. (1993). An Empirical Investigation of the Cash Conversion Cycle of Small Business Firms, Journal of Small Business Finance, 2(2),139-161.
  25. Ooghe, H., De Prijcker, S. (2008). Failure Processes and Causes of Company Bankruptcy: a Typology, Management Decision, Incorporates: Journal of Management History, D01:10.1108/00251740810854131.
  26. Rappaport, A., (2005). The Economics of Short-Term Performance Obsession Financial Analysts Journal, 61(3), CFA Institute PERSPECTIVES.
  27. Richards, V. D., Laughlin, E. J. (1980). A Cash Conversion Cycle Approach to Liquidity Analysis, Financial Management, Spring, 32-38.
  28. Scheaffer, H. A. (2002). Essential of Cash Flow, John Wiley & Sons.
  29. Shulman, J. M., Cox, R. A. K. (1985). An Integrative Approach to Working Capital Management, Journal of Cash Management, November/December , 64-67.
  30. Tran, K. (2008). Multi- Disciplinary Approach To Evaluate Companies' Performances, Retrieved from: http://www.kevinidea.com/my-books-and- publications/ multi-disciplinaryapproachtoevaluatecompaniesperform ances.
  31. Ward, J. L. (1988). The Special Role of Strategic Planning for Family Businesses, Family Business Review, 1(2), 105-117, DOI: 10.1111/j.1741- 6248.1988.00105.x.
Cytowane przez
Pokaż
ISSN
1734-039X
Język
eng
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu