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Changes in the financing structure of Polish listed companies in the years 2009-2016
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Changes in the financing structure of Polish listed companies in the years 2009-2016
Bibliographic description
| title: | Changes in the financing structure of Polish listed companies in the years 2009-2016 |
| author: | Musialik Grażyna, Musialik Rafał 
|
| book title: | 5th International Multidisciplinary Scientific Conference on Social Sciences and Arts : SGEM 2018 : conference proceedings |
| title of volume: | Modern science, Issue 1.1 : political sciences, law finance, international relation |
| volume: | 5 |
| date of publication : | 2018 |
| place of publication : name of publisher: |
Sofia : STEF92 Technology |
| pages: | 429-436 |
| ISBN: |
978-619-7408-30-0 |
| series: |
SGEM International Multidisciplinary Scientific Conferences on Social Sciences and Arts, ISSN 2367-5659 |
| DOI: | |
| notes: | Art. opubl. w z. 1.1 tomu 5; bibliogr. s. 435 |
| language: | English |
| book language: | English |
| abstract in English: | The current knowledge of the management of the capital structures of companies does not enable clear determination of optimum ratios of debt to equity. The factors considered by managers in their decisions concerning ways to finance their companies only partly match the theoretical findings on those matters. Empirical studies mention the following factors affecting the financial leverage: legal and institutional constraints, size of the company, profitability of the company, and growth prospects of the company. The latter factor is the key item discussed in this article. It presents the results of a pilot study based on an assumption that growth prospects apply to the entire market, i.e. to almost all companies. Based on observations of the Warsaw Stock Exchange index (WIG), the period of 2009-2016 was identified as a period of improved economic outlooks in Poland. The conclusion was made that the financing structure of listed companies that did not face the risk of bankruptcy changes in a specific way together with a change in the economic outlooks in the market. This statement was verified based on the results of an analysis of the trend in the debt-to-equity ratio of selected Polish listed companies in three sectors. |
| keywords in English: | corporate finance, capital structure, stock market |
| number of pulisher's sheets: | 0,5 |
| conference: | 5th International Multidisciplinary Scientific Conference on Social Sciences and Arts; 2018-03-19; 2018-03-21; Wiedeń; Austria; ; ; ; |
| affiliation: | Wydział Zarządzania i Komunikacji Społecznej : Instytut Spraw Publicznych |
| type: | chapter |
| subtype: | conference proceedings |
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Projekt „Repozytorium otwartego dostępu do dorobku naukowego i dydaktycznego UJ” współfinansowany w ramach poddziałania 2.3.1 „Cyfrowe udostępnianie zasobów nauki” Programu Operacyjnego Polska Cyfrowa z Europejskiego Funduszu Rozwoju Regionalnego i budżetu państwa na podstawie umowy o dofinansowanie nr POPC.02.03.01-00-0030/17-00
