<abstract xmlns="http://www.w3.org/1999/xhtml"><bold>Subject and purpose of work:</bold> The purpose of the study is to determine the variables determining the level of synthetic measure of economic efficiency in listed companies of the industry sector as part of their enterprise life cycle.<bold>Materials and methods:</bold> The article uses data from annual unitary financial statements of industrial enterprises according to the classification of the Warsaw Stock Exchange and data describing the macroeconomic situation of the state economy. The research period covered the years 1999-2012. In order to examine which factors determine the level of economic efficiency at each stage of the life cycle of enterprises, estimation of econometric models was carried out.<bold>Results:</bold> In the models obtained for companies in the growth and maturity stage, statistically significant determinants were obtained only in the field of internal factors. In the models estimated for companies in the stages of launch, shake-out and decline, statistically significant conditions were identified, both in terms of external factors and in the area of internal factors.<bold>Conclusions:</bold> A comprehensive assessment of the conditions for the level of economic efficiency of enterprises should take into account both factors dependent on the enterprise (microeconomic) as well as those determined by the environment (macroeconomic) and beyond its control. It is therefore necessary for managers of enterprises to have extensive and up-to-date knowledge of factors and conditions that are significant in shaping the level of economic efficiency.</abstract>

Subject and purpose of work: The purpose of the study is to determine the variables determining the level of synthetic measure of economic efficiency in listed companies of the industry sector as part of their enterprise life cycle.Materials and methods: The article uses data from annual unitary financial statements of industrial enterprises according to the classification of the Warsaw Stock Exchange and data describing the macroeconomic situation of the state economy. The research period covered the years 1999-2012. In order to examine which factors determine the level of economic efficiency at each stage of the life cycle of enterprises, estimation of econometric models was carried out.Results: In the models obtained for companies in the growth and maturity stage, statistically significant determinants were obtained only in the field of internal factors. In the models estimated for companies in the stages of launch, shake-out and decline, statistically significant conditions were identified, both in terms of external factors and in the area of internal factors.Conclusions: A comprehensive assessment of the conditions for the level of economic efficiency of enterprises should take into account both factors dependent on the enterprise (microeconomic) as well as those determined by the environment (macroeconomic) and beyond its control. It is therefore necessary for managers of enterprises to have extensive and up-to-date knowledge of factors and conditions that are significant in shaping the level of economic efficiency.

Conditions of Economic Efficiency of Industrial Enterprises in the Enterprise Life Cycle Stages

Economic and Regional Studies / Studia Ekonomiczne i Regionalne

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Subject and purpose of work: The purpose of the study is to determine the variables determining the level of synthetic measure of economic efficiency in listed...

Conditions of Economic Efficiency of Industrial Enterprises in the Enterprise Life Cycle Stages

Publié en ligne: 30 sept. 2019

Pages: 287 - 301

Reçu: 01 août 2019

Accepté: 01 sept. 2019

DOI: https://doi.org/10.2478/ers-2019-0026

Mots clés
life cycle stage, industrial enterprise, economic efficiency, conditioning

© 2019 Joanna Żurakowska-Sawa, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Conditions of Economic Efficiency of Industrial Enterprises in the Enterprise Life Cycle Stages

Publié en ligne: 30 sept. 2019

Pages: 287 - 301

Reçu: 01 août 2019

Accepté: 01 sept. 2019

DOI: https://doi.org/10.2478/ers-2019-0026

Mots cléslife cycle stage, industrial enterprise, economic efficiency, conditioning

© 2019 Joanna Żurakowska-Sawa, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Mots clés
life cycle stage, industrial enterprise, economic efficiency, conditioning