Strategie zarządzania kapitałem obrotowym a sytuacja finansowa spółdzielni mleczarskich

Słowa kluczowe

strategie zarządzania kapitałem obrotowym płynność finansowa rentowność kapitału własnego i majątku sprawność zarządzania

Key words

working capital management strategies liquidity return on equity and assets efficiency of management

Streszczenie

W opracowaniu przedstawiono relacje między strategią zarządzania kapitałem obrotowym a kondycją finansową spółdzielni mleczarskich. Określono rentowność kapitału własnego i majątku, bieżącą i natychmiastową płynność finansową, sprawność zarządzania zapasami, należnościami oraz zobowiązaniami.

Abstract

The paper presents the analysis of THE relations between a working capital management strategy and a financial situation of dairy cooperatives. The cooperatives of a conservative strategy of working capital management had the highest level of equity, assets and leverage. A positive tendency of the factors changes was noticed in cooperatives of an aggressive strategy of working capital management. Receivables and liabilities management has been assessed positively as well. In the two initial years, the most effective ability to recover receivables was represented by these cooperatives, which carried a moderate strategy of working capital management. Afterwards, however, the cooperatives of an aggressive strategy of working capital management dominated. Moreover, they had the shortest period of liabilities discharge. The cooperatives of a conservative strategy of working capital management dominated in relation to liquidity. On the contrary, the cooperatives of an aggressive strategy of working capital management were at risk of loosing their liquidity, especially regarding the lowest level of inventory. Working capital management in dairy cooperatives is one of the most essential areas of financial deciding. Therefore, actions taken up in the area ought to keep liquidity and lead to optimize an amount and a structure of current assets.