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Working capital management as a part of building value of the enterprise. The case study of the companies from construction sector listed on the Warsaw Stock Exchange between 2008–2017
Abstract
Nowadays running an enterprise challenges the boards of the companies to face more and more duties. If companies want to be competitive and generate high return from invested capital, they are obliged to enhance the level of efficiency. One part of this enhancement is a working capital management. The aim of this study is to research whether working capital management can influence the value of the companies and the view made by investors. This paper examines the history of the construction sector between 2008 and 2017. The study shows that there is a serious correlation between the level of net working capital and cash flow from operations and therefore the level of the company valuation. Efficient working capital management also enhances the balance sheet, what is positive for investors and lowers the risk of equity investment.
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No. 14 (2018)
Published: 2018-12-31
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.