Influence of Financial Liquidity on the Competitiveness of Defense Industry Enterprises

Joanna Antczak; Izabela Horzela; Aneta Nowakowska-Krystman

doi:10.35808/ersj/2125

War Studies Academy

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Title

Influence of Financial Liquidity on the Competitiveness of Defense Industry Enterprises

Authors

Joanna Antczak (WZiD) ^{[ 1 ][ 6.6 ][ P ]}
Izabela Horzela (WZiD) ^{[ 2 ][ 6.6 ][ P ]}
Aneta Nowakowska-Krystman (WZiD) ^{[ 2 ][ 6.6 ][ P ]}

^{[ 1 ]} Instytut Zarządzania Lotnictwem Cywilnym, Wydział Zarządzania i Dowodzenia, Akademia Sztuki Wojennej | ^{[ 2 ]} Instytut Zarządzania, Wydział Zarządzania i Dowodzenia, Akademia Sztuki Wojennej | ^{[ P ]} employee

Scientific discipline (Law 2.0)

[6.6] Management and quality studies

Year of publication

2021

Published in

European Research Studies Journal

Journal year: 2021 | Journal volume: vol. XXIV | Journal number: issue 2

Article type

scientific article

Publication language

english

Keywords

EN

Financial liquidity
Competitiveness
Defense industry
Enterprise

PL

Finanse przedsiębiorstwa
Konkurencyjność
Płynność finansowa
Przemysł zbrojeniowy
Przedsiębiorstwo

Abstract

EN Purpose: The aim of the article was to analyse the correlation between financial liquidity and the competitiveness of enterprises from defense industry enterprises. Design/Methodology/Approach: The solutions were developed on the basis of literature analysis, case study, document analysis. As part of the case study were used diagnostic and prognostic sheets, as well as the analysis of source documents. The analysis of financial liquidity was performed using the induction method, which includes examination of details, generalization in the form of conclusions, synthetic evaluation and diagnosis. The time scope of the research covered the period 2015-2018. Four defense companies in the world were selected for the purpose of the research. Findings: The analysis of four enterprises from the defense industry shows connection between the financial situation (measured by liquidity ratios) and the competitiveness of the surveyed companies. The most stable company, one of the leading defense in the world, is Northrop Grumman. In turn, United Aircraft is characterized by a large dispersion of results and negative values of cash flows from operational activities. The article is also an overview of competitiveness, showing the diversity in managing the resources of an economic unit, and indicates practical guidelines for the use of methods and interpretation of the financial liquidity ratios of enterprises. Practical Implications: The results of the research can be used by company managers, both from the defense industry and others, to create mechanisms that increase competitiveness. Originality/Value: The study is a new contribution to research into the competitiveness of defense companies. The aspects of the competitiveness of defense enterprises on the basis of liquidity ratios remained beyond the area of scientific interest.

Date of online publication

19.05.2021

Pages (from - to)

257 - 273

DOI

10.35808/ersj/2125

URL

https://www.ersj.eu/journal/2125

Comments

Bibliografia str. 272-273; JEL codes: O11, L1, P11.

License type

CC BY (attribution alone)