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College of Enterprise and Administration in Lublin , Lublin
The article presents the impact of the economic crisis on the worldwide situation and the financial standing of Polish companies.The crisis, which began with the sub prime credit market collapse in the USA, quickly spread from the financial sphere to the real sphere of most economies in the world.This also affected the macroeconomic indicators of many countries, especially those belonging to the European Union. Polish economy, one of a few in Europe, withstood the unfavorable macroeconomic tendencies.This is proven by the GDP growth rate which did not drop below 0 in any crisis year. The state's economic condition should be positively correlated with the economic standing of companies, at least in the theoretical aspect.Only companies generating profits and positive cash flows are able to implement investment projects which are one of the basic elements forming the GDP. States which want a stable, long-term growth should thus pay attention to the condition of companies, especially those small and medium ones, whose share in the overall number of companies is usually very high. The article presents an evaluation of the financial crisis on phenomena occurring in the most important economies of the world and Europe.Further on, the article attempts to determine the impact of crisis events on the standing of Polish companies. The conducted analysis shows that the profitability and financial liquidity of Polish companies was reduced in the years 2007-2010.However, it should be emphasized that the financial crisis did not cause a radical deterioration of the economic standing of Polish companies, and the visible negative symptoms of the crisis resulted from a careless policy concerning the use of derivatives, and did not result directly from their operational activity.
economic crisis, macroeconomic indicators, unemployment rate, financial standing of Polish companies
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