In an activity of companies in Poland there is a problem in expansion of the small and medium- sized enterprises which can face difficulties with their development on both the domestic and international scene in relation to big economic entities. With reference to the above, as far as a financial situation of the researched companies or more precisely their expansion is concerned we should exert every effort to make connections between small and medium- sized enterprises of service character and big economic entities which produce material products. The aim of the article is to do the analysis in relation to selected enterprises from the SME’s sector which have their registered addresses in Poland and which cooperate with big companies and with the economic entities from other countries of the European Union in order to prove that the main principle is to increase expansion of the researched economic entities and that the cooperation between small and medium- sized firms and big holdings or concerns should be intensified especially when they refer to Poland and other countries of the European Union. Coopetition between the researched companies in that case should contribute to improvement in functioning of the deliveries chain and to increase in the Market Value Added (MVA) which is working out by both the small and medium- sized service enterprises and big industrial companies.

This article examines how technological asymmetries—understood as differences in access to advanced digital tools, AI capabilities and IT infrastructure—shape the financial stability and market performance of enterprises of various sizes. The study integrates comparative analyses of 100 industrial joint-stock companies from multiple countries, including technologically advanced large corporations and innovative SMEs, to assess how disparities in digitization and AI implementation influence financial resilience. Using multivariate regression models and index-based financial metrics such as MC, EV, P/E, PEG, P/S, P/B, EV/R and EV/EBITDA, the research identifies relationships between technological advancement, operational efficiency and risk exposure. The findings indicate that companies with higher levels of digitization and AI adoption demonstrate stronger resistance to market disruptions, more effective risk management and more favorable capital structures than SMEs with limited technological resources. However, restricted access to detailed operational data for smaller firms may affect the precision of comparative assessments. The study concludes that investments in digital competences and international cooperation enhance financial stability and support strategic decision-making, while SMEs play an important complementary role by providing outsourcing services that facilitate AI implementation in larger corporations.

The aim of this article is to present research on consolidation of enterprises, especially units operating in the private sector. The method of comparative analysis and synthesis of the author’s own research results was used in the study, which proved the hypothesis that consolidation of the surveyed enterprises, which operate in the private sector, causes a gradual decrease in the phenomenon of the precariat, mainly due to an increase in the number of indefinite duration employment contracts. The author personally conducted telephone interviews with managers of variously sized companies. The survey covered 1,000 business entities from Poland, including 550 micro enterprises, 280 small enterprises, 120 medium-sized entities and 50 large enterprises, which in the years 2005–2018 were transformed as a result of consolidation processes (mergers or acquisitions). These phone conversations were conducted as free interviews.

RESEARCH OBJECTIVE: Small and medium businesses are constantly driving economic prosperity. The SME sector accounts for the overwhelming majority of enterprises, i.e. 99.8%, both in Poland and in the EU as a whole. Therefore, the aim of this article is to verify the research hypothesis assuming that Knowledge Management (KM) plays a key role in the financial management of small and medium-sized listed companies, especially in terms of investment decisions. THE RESEARCH PROBLEM AND METHODS: The research method used in this article will be the analysis of stock market data describing as a not very satisfied financial condition of small and medium listed companies in times of broad economic crises, which mainly include the pandemic time and the armed conflict in Ukraine. On the basis of selected financial data, estimate an econometric model was created to help explain the mechanism of changes occurring the financial condition of the listed business entities. THE PROCESS OF ARGUMENTATION: A literature review confirming the important role of knowledge management including the Balanced Scorecard (BSC) methodology in financial situation of the joint-stock companies. The current state of the global economy is leading to a dangerous situation in which it is becoming increasingly difficult to maintain a secure financial cushion. RESEARCH RESULTS: Estimation of an econometric model is expected to confirm the research hypothesis that KM plays a key role in the financial management of small and medium-sized listed companies, especially in terms of their investment decisions in range of using innovative method as BSC. CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: The article explains the key role of KM in the financial management of small and medium-sized listed companies during crises. The results of the estimated model can serve the more effective management of SMEs listed on NewConnect and other alternative trading floors around the world.