Microeconomic Effectiveness of Privatised and State-Owned Enterprises in Poland in the Years 1991–2003

Abstract

The paper focuses on a comparative analysis of performance of two kinds of enterprises, with respect to their ownership structure: privatised and state-owned ones. The time-range of the analysis covers almost the whole period of transition process in the Polish economy: since 1991 to 2003. The analysis refers to two main areas of the enterprises’ activity: analysis of financial standing and of investment activity. The analysis of financial standing includes, among all, the investigation of profitability ratios, liquidity ratios and the cost ratios. Investment activities are investigated with the use of investment expenditures to total turnover ratios. The paper ends up with some conclusions on the effectiveness of performance of the investigated groups of enterprises.