波兰中小企业的资本流动性.doc

(4) MD Magdalena Burzykowska Department of Business Analysis and Strategy University of Lodz, Poland The financial liquidity of small and medium enterprises in Poland Abstract Small and medium enterprises are very important in every market economy. Its create not only GDP (Gross Domestic Product) but its create new source of employments. Existing SMEs depend on a lot of outside and inside factors. Among different factors which create activity enterprises is financial liquidity. It shows to ability enterprise to payment short term liabilities. The main purpose of this elaboration is study of financial liquidity small and medium polish enterprises. The main hypothesis of report: There is in small and medium polish enterprises of productive sector aggressive strategy management of the current capital and characterize generally low values of financial liquidity ratios of the companies. The main reason of low acid test ratio of SMEs are not regulated on time short- term receivables by customers. Key words : financial liquidity, current ratio, acid test ratio, cash ratio, rotation current liabilities, rotation receivable, net working capital, 题目：波兰中小企业的资本流动性 摘要：中小企业在每个市场经济体中都是非常重要的。中小企业不仅增加了国民生产总值（GDP），而且还创造了新的就业机会。中小企业的生存取决于很多外部和内部的因素。资本流动性就是这些影响因素之一。资金流动性显示了企业偿付短期负债的能力。 这篇论文的主要目的是研究波兰中小企业资本流动性。本文的主要假设有： 1.波兰的中小企业拥有高生产力的部门、积极进取的战略、对现有资本的管理并且有普遍的低效的资本流动性。 2.中小企业中酸性测试的低比率的主要原因是没有规范的按时偿还短期应收账款。 关键词：资本流动，流动比率，酸性测试比率，现金比率，活期流动负债，应收账款，净资产，积极进取的流动资本管理战略 Introduction Function of each market economy is focused on small and medium enterprises (SMEs). It’s the most dynamic, continuously changing group of companies, making the medium element in the economy structure, have decided influence on development of local enterprises and increased level of people personal earnings. SMEs are: source of new employments, create important part of GDP, fulfill important role of innovation processes, purchase, exploit and modernize old machines park, what decrease risk o