Abstract
Financial liquidity is the foundation for building a strong enterprise. Every small or large enterprise, regardless of the industry, needs to have financial liquidity to grow. Its management is complicated as it is related to current assets, short-term liabilities and profitability. The existing relationship between profitability and liquidity makes it very difficult to choose the right liquidity management strategy. The purpose of the article is to analyze the strategy of managing liquidity in state-owned enterprises operating in the energy sector. In this industry in Poland in recent years there has been a high increase in costs related to fees for CO2 emissions, which will have the large impact on the profitability of enterprises, which will hinder the choice of financial liquidity management strategies. The specificity of the industry, the form of ownership of the analyzed enterprises and the government’s policy will also have a significant impact on the shape of the liquidity management policy. The analysis was based on the financial statements for 2015-2018.
Highlights
Management of a large, small, private or state-owned enterprise is constantly building a strategy that is supposed to ensure financial security and profits for the owners
The introduction of appropriate systems and tools that will lead to optimization of the level of costs in all areas of the enterprise without the emergence of threats related to the loss of financial liquidity
The first and the basic measure used in the analysis was the current financial liquidity ratio
Summary
Management of a large, small, private or state-owned enterprise is constantly building a strategy that is supposed to ensure financial security and profits for the owners These two elements of financial liquidity and profitability are one of the most important measures of the company’s position in the market. The situation of creating a liquidity management strategy will look in state-owned enterprises operating in the energy sector, in which the risk of losing financial liquidity should not appear. This is due to the specifics of the industry. The purpose of the article is to evaluate and analyze financial liquidity management strategies in Polish state-owned enterprises operating in the energy sector
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