The aim of the research presented in this paper is to classify companies listed at Warsaw Stock Exchange in 2003 according to their solvency. The analysis is based on a set of financial ratios describing both short-term and long-term situation of the examined objects. The analysed companies were categorised into two series: the solvent group and the group of at insolvency risk in relation to commonly applied universal benchmarks. In order to proceed in linear ranking of the objects, a taxonomic method was used, which enables aggregation of the analysed parameters. The results obtained from the research reveal that the financial security of the joint stock companies is differentiated. There are also some significant deviations from the values of ratios considered as optimal.
Financed by the National Centre for Research and Development under grant No. SP/I/1/77065/10 by the strategic scientific research and experimental development program:
SYNAT - “Interdisciplinary System for Interactive Scientific and Scientific-Technical Information”.