INNOVATIVENESS RATIO ANALYSIS BASED ON COMPANIES’ ANNUAL REPORTS

The article presents a possibility of extending business ratio analysis whichtraditionally focuses on liquidity rating, liabilities and profitability, to the areaof innovativeness evaluation. In this context informative value of companies' annualreports was investigated referring to the criteria for evaluating innovation foundin literature. Additionally, indicators enabling such evaluation were isolated.The culminating point of the article presents a sample innovation analysis that wascarried based on specific indicators with the reference to selected companies listedon Warsaw Stock Exchange.