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- Title
ROLE OF THE EARLY WARNING MODELS IN THE ECONOMIC EFFECTIVENESS ASSESSMENT OF LARGE FURNITURE ENTERPRISES IN POLAND.
- Authors
GRZEGORZEWSKA, Emilia; STASIAK-BETLEJEWSKA, Renata
- Abstract
The aim of the paper was the economic effectiveness assessment of Polish furniture companies with using selected financial analysis tools. The empirical study was conducted in two stages. The first was the analysis and interpretation of liquidity and debt ratios. In the second stage, the surveyed companies were evaluated by 23 selected early warning models of bankruptcy, which were developed for Polish companies. The analysis covered 54 furniture companies with at least 250 employees. The time range of the study was assumed for the years 2009-2013, which allowed to obtain a total of 270 research object years. In order to ensure the data comparability, the same group of companies was surveyed in the individual analyzed years. Due to the varied economic situation, the average results obtained for the whole surveyed population as well as the characteristics of individual enterprises were presented. The results of the studies show that the companies shown an ability to meet their obligations on a timely basis. On the other hand, the study of the liquidity level of individual furniture companies shown that in 2013, every third of them noted a current liquidity ratio below the limit value. In every third company total debt exceeded the safe level.
- Subjects
FURNITURE industry; CORPORATE finance; BANKRUPTCY; PERSONNEL management; DEBT management
- Publication
Managment of Companies / Manažment Podnikov, 2017, Vol 7, Issue 2, p71
- ISSN
1338-4104
- Publication type
Article