The paper presents changes of relations between net working capital management strategy in agricultural enterprises and effectiveness of main factors of production employment as well as efficiency of current assets and liquidity management. Employment of land and labour resources usually occurred to be the most effective in enterprises of con- j servative strategy of working capital management, whereas implementation of aggressive strategy resulted in losses. In the enterprises of conservative strategy, period of receivables and liabilities' turnover was satisfactory. It allowed to keep current and instant liquidity in the enterprises. The least stable situation was found in the enterprises of aggressive strategy, where was lack of liquidity. On the other hand, enterprises of moderate strategy were threatened by lose of liquidity. In the research period, the conservative way of activity financing, in comparison to the aggressive one, caused better effects. However, it should be considered that rational utilization of short-term loan capital results in increase of equity effectiveness.