Czy istnieje nadpłynność? : analiza związku między płynnością a rentownością

• Autorzy: Adam Adamczyk , Piotr Waśniewski

Warianty tytułu

Is Excess Liquidity Real? : the Analysis of Relationship Between Liquidity and Profitability

• Języki publikacji: PL

Abstrakty

Cel - Celem artykułu jest weryfikacja hipotezy, że zbyt wysoka płynność finansowa wywołuje negatywne zjawiska, w efekcie których ograniczana jest rentowność. Metodologia badania - Wykorzystanie modelu danych panelowych zbudowanego na podstawie wyników finansowych spółek wybranego sektora giełdowego. Wynik - Potwierdzono hipotezę, że nadmierna płynność negatywnie oddziałuje na poziom rentowności, jednak poziom wskaźników płynności, przy których występuje to zjawisko, znacząco przekracza wartości powszechnie uważane za normatywne. Oryginalność/wartość - W większości badań prowadzonych w zakresie relacji między płynnością a rentownością zakłada się liniową zależność między tymi wielkościami. W badaniu przyjęto podejście, że związek ten ma charakter nieliniowy. (abstrakt oryginalny)

EN

Purpose - The purpose of the article is to verify the hypothesis, that too high liquidity level cause a decrease in the profitability of the enterprise. Design/methodology/approach - The usage of panel data model built on the financial results of enterprises of chosen GPW market sector. Findings - The hypothesis were confirmed that excessive liquidity has a negative impact on the level of the profitability, however, the level of liquidity ratios at which this phenomenon occurs, significantly exceeds the values generally considered to be normative. Originality/value - In many studies the relationship between liquidity and profitability is modeled as a linear relationship. This study assumes an approach, that is nonlinear. (original abstract)

Słowa kluczowe

PL

Płynność finansowa; Wskaźniki rentowności; Wskaźniki płynności finansowej

EN

Financial liquidity; Profitability index; Liquidity ratios

• Czasopismo: Finanse, Rynki Finansowe, Ubezpieczenia
• Rocznik: 2018
• Numer: nr 2 (92) Mierzenie i ocena wyników przedsiębiorstw
• Strony: 11--21

Twórcy

autor

Adam Adamczyk

• Uniwersytet Szczeciński

autor

Piotr Waśniewski

• Uniwersytet Szczeciński

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Identyfikatory

DOI

10.18276/frfu.2018.92-01