Financing of Fixed Assets in Selected Companies Listed on the Warsaw Stock Exchange - the Risk and Profitability

• Autorzy: Rafał Jóźwicki
• Języki publikacji: EN

Abstrakty

EN

Each company to grow need capital to finance their assets. Some companies use lots of fixed assets but to avoid the lose of the value of their fixed assets they need to gain long-term liabilities. The goal of this paper is to examine correlation between the level of the long term liabili-ties and the level of fixed assets of the polish capital market companies and inspection if the financial risk is awarded by additional rate of return. To reach the goal, the Author used the data from quarterly reports for 3rd quarter of 2013 of the capital market companies listed in index of the 20 biggest and most liquid companies (WIG 20) and index of the 40 mid size companies (mWIG40). The Author removed from analysis banks (due to their financial statements). The conclusion is that the correlation is at the medium level and the companies are not awarded by higher rate of return. This means that examined in this study companies listed on the Warsaw Stock Exchange accept increased financial risk. Additionally, we also have to remember that in the case of financing of the company, it is not always possible to realize the finance strategy, especially in relation to the risk. In some cases, company have no choice and must use only those sources which are available.(original abstract)

Słowa kluczowe

EN

Fixed assets; Stock exchange; Financial risk; Capital market; Listed company value

PL

Środki trwałe; Giełda; Ryzyko finansowe; Rynek kapitałowy; Giełdowa wartość przedsiębiorstwa

• Czasopismo: Przedsiębiorczość i Zarządzanie
• Rocznik: 2014
• Numer: t. 15, z. 10, cz.2 Finansowe i organizacyjne aspekty kooperacji nauki i lokalnej przedsiębiorczości część 2
• Strony: 187--195

Twórcy

autor

Rafał Jóźwicki

• University of Social Sciences

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