The purpose of this paper is to systematize the knowledge of theory, together with functional implications associated with the process of dematerialization of securities in Poland from the perspective of comparative legal systems based on continental law. Polish model of dematerialization of securities is based on the French and Swiss one. With regard to the cause of dematerialization and the dematerialization of trading the same securities are to be sought in their efforts to reduce costs associated with the necessity of physical movement of large quantities of securities. Identified issues of concern are examined from the standpoint of seeking a link between a security in immaterialized form and material one, using methods of historical and comparative legal research.
The current financial crisis has highlighted again the relationship between value and price of financial instruments. This article is therefore devoted to the problems of modern methods of assessing one of the leading securities-shares. The most commonly used models are variants of free cash flow models. The authors recommended the use of free cash flow models in the categories of the key value driver formula. At the same time they propose a new method to yield a model that would use newly created value to the company as a form of income.
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