- Author
- Sierpińska Maria, Szczepankowski Piotr
- Title
- Badanie koniunktury spółek rynku New Connect. Metodologia i próbna weryfikacja proponowanych modeli
Research of the New Connect market enterprises economic situation. methodology and test revision of suggesting models - Source
- Badania Operacyjne i Decyzje, 2008, nr 3, s. 89-105, bibliogr. 3 poz.
Operations Research and Decisions - Keyword
- Rynek, Syntetyczny wskaźnik koniunktury PENGAB, Modele wzrostu
Market, Banking sentiment index Pengab, Growth model - Note
- streszcz., summ.
- Abstract
- Mnożniki PE oraz EBITDA należą do najpopularniejszych mnożników wykorzystywanych w wycenach przedsiębiorstw. Jak wskazują badania empiryczne przeprowadzone na Giełdzie Papierów Wartościowych w Warszawie, mnożniki te przyjmują różne wartości w zależności od wielkości spółki oraz branży. W artykule zaproponowano modyfikacje mnożników PE oraz EBITDA. W modyfikacjach uwzględniono istotne dla procesów przejęć zmiany w zakresie struktury finansowania, wielkości ponoszonych wydatków inwestycyjnych oraz tempa wzrostu wyników finansowych. (abstrakt oryginalny)
The new stock market called New Connect began on Warsaw Stock Exchange on 30 August 2007. It is a kind of Polish alternative stock investment market. It was designed first of all for not very large companies, young, innovative, being in preliminary phase of their economic development, but which have large capital needed to finance their growth and investment opportunities. Taking into account specific economic situation of these enterprises as well as the goals of buying by them the capital on the stock market, it is necessary to find for them correct growth and efficiency ratios, which will present their development degree. The analysis of the economic situation of New Connect companies has to be the alternative method for analyzing their market value, described separately by the stock market index. The measures of growth, development and efficiency of these enterprises have to turn on fundamental financial results of their economic activity. It gives a chance to analyze the companies’ strengths and weaknesses, and their value drivers. The paper presents proposals of several different growth and efficiency ratios for the New Connect Stock Market enterprises. Additionally it shows the proposed construction and the selection of partial variables. The paper also describes the results of empirical verification of proposed models. On the basis of empirical verification results, the synthetic coefficient of the growth and efficiency analysis is proposed for the New Connect Market companies. (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 - Full text
- Show
- Bibliography
-
- HUBNER D., LUBIŃSKI M., MAŁECKI W., MAKOWSKI Z., Koniunktura gospodarcza, PWE, Warszawa 1994.
- New Connect. Przewodnik dla inwestorów, Giełda Papierów Wartościowych, Warszawa 2007.
- SIERPIŃSKA A., SIERPIŃSKA M., New Connect jako źródło pozyskania kapitału dla małych podmiotów gospodarczych [w:] Nowe trendy i wyzwania w zarządzaniu, (red. E. Weiss, M. Godlewska), Vizja Press & IT, Warszawa 2007.
- Cited by
- ISSN
- 1230-1868
- Language
- pol
