IDEAS home Printed from https://ideas.repec.org/a/znm/journl/v50y2021i2p37-51.html
   My bibliography  Save this article

Dependencies between financial ratios among companies listed on the Warsaw Stock Exchange

Author

Listed:
  • BartEomiej Pilch

    (Cracow University of Economics, Poland)

Abstract

The dependencies between liquidity, profitability and indebtedness ratios are usually quite unclear. Many empirical studies provide insight into this issue. However, research results are varied and often inconsistent. Hence, it was decided to verify the relationships between the title groups of indicators, tak-ing into account the Polish capital market. The research methodology included mainly the literature review and data analysis (using descriptive statistics and correlation). The research sample consisted of the majority of companies listed on the Warsaw Stock Exchange and covered the period 2015b

Suggested Citation

  • BartEomiej Pilch, 2021. "Dependencies between financial ratios among companies listed on the Warsaw Stock Exchange," Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie / The Malopolska School of Economics in Tarnow Research Papers Collection, Malopolska School of Economics in Tarnow, vol. 50(2), pages 37-51, June.
    • Handle: RePEc:znm:journl:v:50:y:2021:i:2:p:37-51
    DOI: 10.25944/znmwse.2021.02.3751
    as

    Download full text from publisher

    File URL: https://zn.mwse.edu.pl/index.php/zn/article/view/779
    Download Restriction: no
    File URL: https://libkey.io/10.25944/znmwse.2021.02.3751?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mazen Kebewar, 2013. "The effect of Debt on Corporate Profitability :Evidence from French Service Sector," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 56(1), pages 43-59.
    2. Šarlija Nataša & Harc Martina, 2012. "The impact of liquidity on the capital structure: a case study of Croatian firms," Business Systems Research, Sciendo, vol. 3(1), pages 30-36, June.
    3. Ronald W. Anderson, 2002. "Capital structure, firm liquidity and growth," Working Paper Research 27, National Bank of Belgium.
    4. Sibilkov, Valeriy, 2009. "Asset Liquidity and Capital Structure," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 44(5), pages 1173-1196, October.
    5. Kebewar, Mazen & Shah, Syed Muhammad Noaman Ahmed, 2013. "The effect of debt on corporate profitability: Evidence from French service sector," EconStor Preprints 73556, ZBW - Leibniz Information Centre for Economics.
    6. Syed Muhammad Noaman Ahmed SHAH & Mazen KEBEWAR, 2013. "The Effect of Debt on Corporate Profitability Evidence from French Service Sector," LEO Working Papers / DR LEO 2117, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    7. Mohammed Ziaur Rehman Muhammad Nauman Khan & Imran Khokhar, 2015. "Investigating Liquidity-Profitability Relationship: Evidence from Companies Listed in Saudi Stock Exchange (Tadawul)," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 5(3), pages 1-11.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ibhagui, Oyakhilome W. & Olokoyo, Felicia O., 2018. "Leverage and firm performance: New evidence on the role of firm size," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 57-82.
    2. Ana María Iregui-Bohórquez & Ligia Alba Melo-Becerra & Antonio José Orozco-Gallo, 2020. "Corporate taxes and firms' performance: A meta-frontier approach," Borradores de Economia 1116, Banco de la Republica de Colombia.
    3. Milos Laura Raisa & Milos Marius Cristian, 2015. "Does Short Term Debt Affect Profitability? Evidence From The Romanian Listed Companies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 228-233, December.
    4. Močnik Dijana & Širec Karin, 2015. "Determinants Of A Fast-Growing Firm’s Profits: Empirical Evidence For Slovenia," Scientific Annals of Economics and Business, Sciendo, vol. 62(1), pages 37-54, April.
    5. Ksenija Denčić-Mihajlov & Dejan Malinić & Konrad Grabiński, 2015. "Capital structure and liquidity during the financial crisis in Serbia: implications for the sustainability of the economy," Post-Communist Economies, Taylor & Francis Journals, vol. 27(1), pages 91-105, March.
    6. Benter Omollo Achieng & Willy Muturi & Joshua Wanjare, 2018. "Effect of Equity Financing Options on Financial Performance of Non-Financial Firms Listed at the Nairobi Securities Exchange, Kenya," Applied Economics and Finance, Redfame publishing, vol. 5(4), pages 160-173, July.
    7. Ingrid-Mihaela Dragota & Aura-Cristina Stefan-Dobrin, 2016. "An Empirical Investigation of the Firm- and Country- Specific Debt Determinants in Four Nordic Countries," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 8(2), pages 061-075, December.
    8. Ibrahim Danjuma & Mohammed Sangiru Umar & Dahiru Dauda Hammawa, 2015. "Mediating Effects of Cash Management in Relationship between Capital Structure and Liquidity in Small and Medium Enterprises," International Journal of Economics and Financial Issues, Econjournals, vol. 5(4), pages 995-1000.
    9. Maziar Ghasemi & Nazrul Hisyam Ab Razak, 2016. "The Impact of Liquidity on the Capital Structure: Evidence from Malaysia," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(10), pages 130-139, October.
    10. Tuba DERYA-BASKAN & Eda BALIKÇIOĞLU, 2018. "Firma Bileşenlerinin Halka Açık Perakende Firmalarında Kurumlar Vergisine Etkisi," Sosyoekonomi Journal, Sosyoekonomi Society, issue 26(37).
    11. Gareis, Johannes & Mayer, Eric, 2020. "Financial shocks and the relative dynamics of tangible and intangible investment: Evidence from the euro area," Discussion Papers 39/2020, Deutsche Bundesbank.
    12. Rana El Bahsh & Ali Alattar & Aziz N. Yusuf, 2018. "Firm, Industry and Country Level Determinants of Capital Structure: Evidence from Jordan," International Journal of Economics and Financial Issues, Econjournals, vol. 8(2), pages 175-190.
    13. Erasmo Giambona & Rafael Matta & José-Luis Peydró & Ye Wang, 2020. "Quantitative easing, investment, and safe assets: the corporate-bond lending channel," Economics Working Papers 1722, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2020.
    14. Imran Yousaf & Arshad Hassan, 2016. "Effect of Family Control on Corporate Financing Decisions: A Case of Pakistan," PIDE-Working Papers 2016:138, Pakistan Institute of Development Economics.
    15. Souad Chaieb, 2021. "The Impact of Cash Holding on Debt Cost," International Journal of Economics and Financial Issues, Econjournals, vol. 11(6), pages 75-93.
    16. Ze-To, Samuel Yau Man, 2016. "Asset liquidity and stock returns," Advances in accounting, Elsevier, vol. 35(C), pages 177-196.
    17. Yehui Tong & Zelia Serrasqueiro, 2020. "The Influential Factors on Capital Structure: A Study on Portuguese High Technology and Medium-High Technology Small and Medium-Sized Enterprises," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(4), pages 23-35, July.
    18. ElBannan, Mona A., 2017. "Stock market liquidity, family ownership, and capital structure choices in an emerging country," Emerging Markets Review, Elsevier, vol. 33(C), pages 201-231.
    19. Markéta Šeligová, 2017. "The Effect of Selected Financial Indicators on Liquidity of Companies in Selected Sectors in the Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(6), pages 2095-2104.
    20. Chen, Haosi & Maslar, David A. & Serfling, Matthew, 2020. "Asset redeployability and the choice between bank debt and public debt," Journal of Corporate Finance, Elsevier, vol. 64(C).

    More about this item

    Keywords

    financial ratios; liquidity; profitability; indebtedness;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:znm:journl:v:50:y:2021:i:2:p:37-51. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lidia Matuszewska (email available below). General contact details of provider: https://edirc.repec.org/data/mwsetpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.