Finansowe strategie giełdowe

• Autorzy: Lesław Pietrewicz

Warianty tytułu

Financial Strategies for the Stock Market

• Języki publikacji: PL

Abstrakty

Celem pracy jest analiza jednego z obszarów rozwijania strategii giełdowych przez przedsiębiorstwa, obejmującego decyzje finansowe. Na potrzeby artykułu analizie poddano dywidendy gotówkowe i akcyjne, skupy akcji własnych i splity akcji. Przeprowadzone badania pokazały, że wbrew teorii narzędzia te często są wykorzystywane do zwiększania asymetrii informacyjnej między insiderami a zewnętrznymi inwestorami ze szkodą dla tych ostatnich. Dzięki zarządzaniu przepływem informacji spółki giełdowe mogą wywierać systematyczny wpływ na zachowania inwestorów (a w konsekwencji na cenę akcji i strukturę akcjonariatu) i wpływać na pozycję konkurencyjną na rynku akcji i powiązanym z nim rynku kontroli nad przedsiębiorstwami. (abstrakt oryginalny)

EN

The goal of his paper is to analyze one of the areas of developing stock market strategies. The area covers financial decisions, including cash and stock dividends, share repurchases (buybacks), and share splits. The study shows that, contrary to accepted theories, these instruments are widely used to increase information asymmetry between insiders and external investors, to the detriment of the latter. Information flow management allows public companies to systematically influence investor behavior (and, consequentially, share price and shareholder structure), and to build a position of competitive advantage on the stock market and - related to it - corporate control market. (original abstract)

Słowa kluczowe

PL

Giełda; Dywidenda; Akcje

EN

Stock exchange; Dividend; Shares

• Czasopismo: Zarządzanie Zmianami : zeszyty naukowe
• Rocznik: 2011
• Numer: nr 4
• Strony: 1--19

Twórcy

autor

Lesław Pietrewicz

• Polska Akademia Nauk

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