Strategia finansowania oraz poziom rentowności przedsiębiorstw na przykładzie spółek z indeksu WIG-Chemia w latach 2013–2017
Financing Strategy and Profitability of Enterprises on the Example of Companies from the WIG-Chemistry Index in the 2013–2017 Years

Summary/Abstract: The optimal capital structure has always been the source of interest for the company’s managers. It guaranteed its proper functioning, which translates into maximizing profitability with the lowest possible capital cost. The level of debt in enterprises indicates a financing strategy. Every enterprise, even within the same sector, may use a different strategy for financing its assets. The theoretical part presents methods for measuring the profit ability and the level ofdebt in the company and its impact on the financing strategy pursued by enterprises. The paper focuses on the study of the profitability level as well as the financing strategy of WIG – chemistry companies for 2013 – 2017 periods using the ratios presented in the methodological part.The results of analyzes in terms of profitability have shown its growth for the industry in 2015 and then its gradual decrease in subsequent years.The hypothesis regarding the use of aggressive financing strategies by chemical companieshas not been confirmed. The level of the total debt ratio and the golden banking and balance sheet rule for the entire industry clearly indicate the use of moderate strategies. In the case of specific companies, with few exceptions, sustainable asset financing strategies are also used.

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