Statistical Analysis of Financial and Economic Condition in Companies Listed on the Warsaw Stock Exchange

• Authors: Małgorzata Łuniewska
• Languages of publication: EN

Abstracts

EN

The analysis of securities is an essential element of investment. It is a complex and, very frequently, long-lasting process. Depending on the assumed time perspective of an investment, the analysis may be carried out on the basis of appropriate tools within technical or fundamental analysis. Assuming that the investment is long-term, the methods of fundamental analysis, particularly the indicator analysis are be useful. Additionally, in securities analyses taxonomic methods are more frequently used, which allows for the evaluation of the securities quality through the synthetic analysis of statistical economic and financial indicators. Methods of linear arrangement used to assess the companies' fundamental strength are based on the economic and financial indicators. These indicators define in a numerical manner the relations between economic and financial values, which allows for conclusions on the condition of the examined economic entities, sectors or markets. Furthermore, indicators are a source of data in quantitative analyses, they are diagnostic variables in research studies. Thus this situation poses a few crucial questions:- how do the economic and financial indicators rule on the stock market?- what is their level, do they maintain the norms?- what is the quality of data on the basis of which securities analyses are carried out?The main goal of the article is to analyze the fundamental power of companies listed on Warsaw Stock Exchange (WSE) by using TMAI value (in space and time). The study was performed in the period of 2005-2008 (the first quarter of 2008). Thus, the base was constituted by 126 companies. Banks and other financial institutions were excluded. Within the macrosectors existing on the Polish capital market, a statistical analysis of the level of economic and financial indicators characterizing particular companies was performed.

Keywords

EN

investment; analysis of securities; fundamental analysis; sector analysis indicator analysis; synthetic measure of development; numerical methods; statistical analysis

• Publisher: Sciendo
• Journal: Folia Oeconomica Stetinensia
• Year: 2008
• Volume: 7
• Issue: 1
• Pages: 98-108

Dates

published

2008-01-01

online

2009-04-06

Contributors

author

Małgorzata Łuniewska

• Department of Insurance and Capital Markets, Faculty of Economics and Management, University of Szczecin, Mickiewicza 64, 71-101 Szczecin

References

• Grabiński, T., Wydymus, S. & Zeliaś, A. (1989). Metody taksonomii numerycznej w modelowaniu zjawisk społeczno-gospodarczych. Warszawa: PWN.
• Hozer, J. (Ed.). (1996). Opis statystyczny. Szczecin: Uniwersytet Szczeciński.
• Krzysztofiak, M. (1981). Statystyka. Warszawa: PWN.
• Pociecha, J., Podolec, B., Sokołowski, A. & Zając, K. (1988). Metody taksonomiczne w badaniach społeczno-ekonomicznych. PWN: Warszawa.
• Tarczyński, W. (2002). Fundamentalny portfel papierów wartościowych. Warszawa: PWE.

Identifiers

DOI

10.2478/v10031-008-0008-9