PROFITABILITY OF FOOD INDUSTRY COMPANIES IN POLAND IN TERMS OF THEIR PARTICIPATION IN WIG-FOOD

Krzysztof Firlej and Sebastian Kubala

Roczniki (Annals), 2025, vol. 2025, issue 3

Abstract: The main objective of the study was to empirically verify the existence of statistically significant differences in profitability levels between food sector companies listed on the Warsaw Stock Exchange (WSE) and those not listed on the public market. The analysis focused on three profitability indicators: return on equity (ROE), return on assets (ROA), and return on sales (ROS). To compare the mean values of individual profitability indicators between the groups, analysis of variance (ANOVA) was applied. Additionally, to assess differences across all three indicators simultaneously, multivariate analysis of variance (MANOVA) was employed. The experimental group (A) comprised companies included in the WIG-Food index as of December 31, 2024, while the control group (B) consisted of 15 food sector enterprises not listed on the WSE. Financial data were obtained from the companies’ financial statements for the years 2020-2024. Empirical analyses were conducted using R-Studio software. The results indicate that stock market status is not a decisive factor for the financial performance of food enterprises in Poland. However, it was observed that companies listed in the WIG-Food index demonstrate slightly but consistently higher average profitability indicators, with distributions that are more dispersed and contain a greater number of outliers compared to companies not listed on the WSE. The findings may provide useful insights for entrepreneurs and managers in the studied groups and contribute to a new perspective on the business performance of these entities in both practical and academic contexts.

Keywords: Agribusiness; Agricultural and Food Policy; Production Economics (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ags:paaero:401303

DOI: 10.22004/ag.econ.401303

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