Levels of Liquid Assets in Full Operating Cycle Firms: Polish Firms Case

Grzegorz Michalski , Jan Buleca , Monika Kaminska , Omar Mhemed , Guenter Blendinger

Abstract

The aim of the study is to determine the rules governing the modern cash management in small and medium enterprises with a full operating cycle with particular emphasis on environmental conditions influencing enterprises. External factors resulting from the economic situation surrounding the company, interact with the operating cycle of the overall enterprise operational risk which is reflected in the level of cash held. At the core of the research hypothesis is the belief that the level of cash and cash management policies in the enterprise in an integrated manner with other elements resulting from the operating cycle contribute to moderating the risk of the enterprise and that it can be shown using empirical data from companies operating effectively in practice business.