Kształtowanie wartości wskaźników wspomagania finansowego przez ponadprzeciętnie rentowne MSP w okresie dobrej i złej koniunktury gospodarczej
The Formation of the Values of Leverage Ratios by Exceptionally Profitable SMEs in Good Economic Times as Well Economic Downturn

Summary/Abstract: The article compares the development of the ratios in the area of financial support provided by exceptionally profitable SMEs in good economic times as well economic downturn. The aim of the study was also to recommend separate range values for ratios in the area of financial support in good economic times as well economic downturn. In the course of the study 67 317 corporate financial statements of SMEs doing business in 10 different sectors of national economy were included. In order to compare the formation of values of leverage ratios in good economic times and economic downturn Mann-Whitney nonparametric test was applied. Statistically significant differences in terms of financial support among enterprises engaged in economic activities in good economic times and economic downturn were only found in case of individual sectors of national economy. The results obtained during the study clearly confirm and that SMEs belonging to various sectors of economy form the ratio values in the area of financial support differently. They also show that SMEs characterized by above-average return on assets form their ratio values in the area of financial support at levels considerably deviating from those recommended by the source literature.

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