Cykle kapitału obrotowego a rentowność aktywów przedsiębiorstw – artykuł dyskusyjny
Working capital cycles and assets profitability of companies

Summary/Abstract: The purpose of the article is to analyze the diversity of working capital efficiency on the example of the national food industries in 2005–2009. It analyzes the structure and length of inventory, receivables, liabilities, and cash conversion cycles in conjunction with the achieved return on assets. The research shows that both the sub-cycles and the synthetic cycle in the food industries vary greatly, but are stable over time. In addition, regression analysis showed a clear positive correlation between reducing working capital cycles and profitability.

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