Efektywność przedsiębiorstw rolniczych w zależności od relacji kapitału własnego do obcego

The paper presents the business performance of agricultural enterprises vs. the ratio of equity to liabilities. Entities with higher level of equity/liabilities ratio were characterized by higher liquidity and profitability of assets. Furthermore, the enterprises with lower level of equity/liabilities ratio have invested, which results was increased debt level. Entities with higher level of equity/liabilities ratio redeem debts quicklier than they receive outstandings. Moreover, enterprises with lower level of equity/liabilities ratio are characterized by the higher level of ROE. It means that business entities implemented the moderate financial strategy depending on the ratio of equity to liabilities.