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2012 | 11 | 1 | 86-96

Article title

Influence of Investment Projects on Dividend Policy of a Company in Conditions of Fuzzy Information

Title variants

Languages of publication

EN

Abstracts

EN
This article describes the problem of using fuzzy logic in the forecasts of variants of the results of implemented investment projects. It also shows the possibility of using calculations with the application of fuzzy triangular numbers L-R in the variants of results: an optimistic result, a pessimistic result and the most probable result (the central result). Moreover, the article draws attention to the possibility of using fuzzy numbers to estimate fuzzy risk of a forecasted financial result of a company. In addition, the article presents how a dividend may be shaped in consideration of multiplicity of variants if dividend policy takes into account dependence on company results as well as implemented investment projects.

Publisher

Year

Volume

11

Issue

1

Pages

86-96

Physical description

Dates

published
2012-01-01
online
2013-03-15

Contributors

  • Ph.D. University of Economics in Katowice Faculty of Finance and Insurance Department of Investments and Real Estate 1 Maja 50, 40-287 Katowice, Poland

References

  • Baker, H.K., Powell, G.E. & Veit, E.T. (2002). Revisiting Managerial Perspectives on Dividend Policy. Journal of Economics and Finance, 26 (3).
  • Benninga, S.Z. & Sarig, O.H. (2000). Company Finance, Methods of Valuation, Warsaw: WIG-Press.
  • Brav, A.J. and others (2005). Payout Policy in the 21st Century, Journal of Financial Economics, 77.
  • Brealey, R.A. & Myers, S.C. (2003). Principles of Corporate Finance. 7th ed., New York: McGraw-Hill.
  • Brigham, E.F. (2005) Introduction of Financial Management. Warsaw: PWE.
  • Cwynar, A. & Cwynar, W. (2007) Creating a Company’s Value by Long -Term Financial Decisions. Polish Academy of Accounting.
  • Duraj, A.N. (2002) Factors of Realisation of a Dividend Payout Policy by Public Listed Companies, Łódź: Lodz University Press.
  • Jabłoński, B. (2011). The model dividend security portfolio. In: A.S. Barczak, S. Barczak (Eds.), Mathematical, Econometric and Computer Methods in Finance and Security. Katowice: University of Economics in Katowice Press.
  • Jabłoński, B. (2010a). Optimizing a Dividend Security Portfolio. In: M. Dylewski (Ed.) Riskin Finance and Banking during an Economic Crisi. Poznań: Poznań School of Banking Press.
  • Jabłoński, B. (2010b). The Role of Choice of Group of Shares to an Investment Portfolio on theExample of Warsaw Stock Exchange in Years 1991-2009. In: U. Zagóra-Jonszta (Ed.), Accomplishments of Modern Economic Thought. The Role of Choice Category in EconomicTheories and Business Practice, Katowice: Karol Adamiecki University of Economics in Katowice Press.
  • Kaźmierska-Jóźwiak, B. (2008). Evaluation of Dividend Policies of Companies Listed on Warsaw Stock Exchange. Organisation and Management, Vol. 2.
  • Marcinek, K. (2004). Financial Evaluation of Investment Projects in Companies, Katowice: Karol Adamiecki University of Economics in Katowice Press.
  • Marsh, T.A. & Merton, R.C. (1987). Dividend Behavior for the Aggregate Stock Market, Journalof Business.
  • Piegat, A. (2003). Fuzzy Modelling and Controlling. Warszawa: Exit.
  • Pomykalska, B. & Pomykalski, P. (2007). Financial Analysis of a Company. Warsaw: PWN Press.
  • Przybycin, Z., (2009). The Application of Fuzzy Logic in Economics - Selected Decision Models, Scientific Works of University of Economics in Katowice.
  • Różański, J. (2006). Fixed Assets and Capital Investments. Warsaw: Difin.

Document Type

Publication order reference

Identifiers

YADDA identifier

bwmeta1.element.doi-10_2478_v10031-012-0016-7
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