GROWTH, PROFITABILITY AND LIQUIDITY OF POLISH ROAD TRANSPORTATION COMPANIES

Abstract

Fast growth of road transportation companies registered in Poland, whose fleet
has become the largest in European Union has yet not received sufficient attention.
Here relationships of profitability and financial liquidity and a company growth of
sales for 2367 road transportation companies registered in Poland in period 2013 -2017 are studied. The static, linear, symptomatic and mezoeconomic econometric
model is proposed and the analysis is based on the moving quartile, Spearman rho and
Kendall tau-b coefficients and multi-segment piecewise-linear approximation with
Theil-Sen trend lines. The relationships between the growth of sales and considered
factors are not uniform and depend on a factor rage. The results of this study postu late
positive relationship between the profitability and the growth of sales in a given range
for studied companies. The optimum financial liquidity to increase the growth of sales
for road transportation companies registered has been identified. Managerial
implications and advantages following from the applied analysis are given.
Key words: growth, profitability, financial liquidity, road transportation