Relacje majątkowo-kapitałowe, a rentowność i płynność finansowa spółdzielni mleczarskich
Ratios concerning assets and capital vs. profitability and financial liquidity of dairy cooperatives

Summary/Abstract: The paper presents the creation of adjusted profitability (considering contributions from members to share fund as a substitute for profit) and financial liquidity in dairy cooperatives, grouped according to: the ratio of current assets to tangible fixed assets, the ratio of constant capital to fixed assets. The proper asset structure and the proper maintenance of relations concerning assets and capital (in the “silver” rule) positively influenced the adjusted profitability. The most advantageous financial situation, (from the standpoint of “quasi-optimum” for liquidity) was in those cooperatives, respectively characterized by an above-average level and an average level of the relation: assets/tangible assets, as well as the relation: constant capital/fixed assets.

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