- Author
- Błach Joanna
- Title
- Warranty subskrypcyjne jako instrument pozyskiwania kapitału przedsiębiorstwa
Subscription Warrants as a Source of Corporate Finance - Source
- Prace Naukowe Akademii Ekonomicznej we Wrocławiu, 2006, nr 1109, s. 83-93, bibliografia 6 poz.
- Issue title
- Zarządzanie finansami firm : teoria i praktyka
- Keyword
- Zarządzanie finansami przedsiębiorstwa, Instrumenty pochodne, Warranty
Enterprises financial management, Derivatives, Warrant - Note
- summ.
- Abstract
- Autor przedstawia warranty subskrypcyjne na tle instrumentów pochodnych. Opisano sposoby zastosowania warrantów subskrypcyjnych.
The company can obtain additional finance by issuing stock-purchase warrants. The holder of the warrant has the right, but no the obligation, to buy new ordinary shares in a company at a future date, at a fixed, predetermined price. The warrants can be attached to the company's shares or bonds to make the issue more attractive to investors. They can be also separated from the underlying stock and traded on the market in their own right. Stock purchase warrants can be used as one of the alternatives to cash dividents pay out to the shareholders which enables company to retain higher profits. They can be also used as an additional premium for the managers and employees in order to lower the agency costs. The process of issuing and exercising stock-purchase warrants may influence a lot of different aspects of company's activity. Therefore, the decision of using warrants requires thorough analysis of advantages and disadvantages connected with them. (original abstract) - Accessibility
- The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics - Bibliography
-
- Brigham E.F., Gapenski L.C., Zarządzanie finansami. Tom l, PWE, Warszawa 2000.
- Fabozzi F.J., Peterson P.P., Financial Management Analysis, John Wiley & Sons, Inc., New Jersey 2003.
- Fierla A., Opcje na akcje, Wydawnictwo Difin, Warszawa 2004.
- Jerzemowska M., Kształtowanie struktury kapitału w spółkach akcyjnych, PWN, Warszawa 1999.
- Ustawa z 15 września 2000 r. Kodeks spółek handlowych (DzU 2000 nr 94, póz. 1037). Watson D., Head A., Corporate Finance. Principles & Practice, Prentice Hall. Harlow 2001.
- Cited by
- ISSN
- 0324-8445
- Language
- pol
