Abstract:

The aim of the study is to check how the selected indicators developed in the acquiring companies preparing for the merger in Poland. The following indicators were selected: the period of repayment of the receivables, the repayment period of liabilities, the cycle of converting inventories, the structure of assets, the structure of capital, and the operating profitability of assets. The study used: median equality test (Wilcoxon rank sum), Pearson correlation coefficient, linear regression analysis, nonlinear regression function test, normality of residual distribution test. Based on the results of the study, it can be concluded that median values ​​of selected financial ratios were not identical in the analysed three periods, but they did not differ significantly. Based on the regression analysis, only the asset structure and capital structure significantly affected the value of the operating profitability of assets. The results of the analysis of the impact of working capital elements indicate that if the indicators were statistically significant, the coefficients had the same mark as in the studies of other authors. It is puzzling why in certain periods the repayment period of receivables, the repayment period of liabilities, or the inventory conversion cycle did not significantly affect the operating profitability of assets.