PL EN


2013 | 155 | 389-401
Article title

Inwestycje przedsiębiorstw na tle polityki dywidend

Content
Title variants
EN
Company Investments in the Context of Dividend Policy
Languages of publication
PL
Abstracts
EN
The article discusses issues connected with payments executed for the benefit of shareholders and offers a description of the specificity of dividend payment and buy back with the purpose of remittance. It emphasizes the investors' reception of changes of the dividends paid and indicates what factors influence the dividend policy. The article also depicts two solutions enabling to divide the profit depending on the available profitable material investment projects of companies. In addition, the dividend payout rate for all the companies listed on Warsaw Stock Exchange in the period 2002-2011 has been analised, and for selected companies from Warsaw Stock Index WIG20 the corellation between dividend payout and profit, supplementary and reserve capital, as well as capital expenditures has been studied.
Year
Volume
155
Pages
389-401
Physical description
Contributors
References
  • Al-Malkawi H.A.N.: Factors Influencing Corporate Dividend Decision: Evidence from Jordanian Panel Data. "International Journal of Business" 2008, Vol. 13, No. 2, http:// www.craig.csufresno.edu/International_Programs/JC/IJB/Volumes/Volume%2013/ V132-5.pdf, dostęp: 21.12.2012.
  • Brigham E.F., Houston J.F.: Podstawy zarządzania finansami. PWE, Warszawa 2005.
  • Bulan L., Subramanian N.: The Firm Life Cycle Theory of Dividends, 2009, http://people. brandeis.edu/~lbulan/Book_Chapter.pdf, dostęp: 1.09.2012.
  • Bulan L., Zhipeng Y.: The Pecking Order of Financing in the Firm's Life Cycle, 2007, http://69.175.2.130/~finman/Orlando/Papers/ThePeckingOrderofFinancinginthe- FirmsLifeCyclen2n.pdf, dostęp: 4.09.2012.
  • Cwynar A., Cwynar W.: Kreowanie wartości spółki poprzez długoterminowe decyzje finansowe. Wydawnictwo Wyższej Szkoły Informatyki i Zarządzania, Warszawa 2007.
  • Fama E.F., French K.F.: Disappearing Dividends. Changing Firm Characteristics or Lower Propensity to Pay? "Journal of Financial Economics" 2001, Vol. 60.
  • Strategie wzrostu wartości firmy. Studium przypadków. Red. A. Szablewski. Poltext, Warszawa 2003.
  • Szczepankowski P.J.: Finanse przedsiębiorstwa. Teoria i praktyka. Tom II. Wydawnictwo Wyższej Szkoły Przedsiębiorczości i Zarządzania im. Leona Koźmińskiego, Warszawa 1999.
Document Type
Publication order reference
Identifiers
ISSN
2083-8611
YADDA identifier
bwmeta1.element.desklight-43d9596f-7f2a-4732-b9c8-3fc08240ed7c
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