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Słoński Tomasz (Uniwersytet Ekonomiczny we Wrocławiu), Zawadzki Bartosz (Uniwersytet Ekonomiczny we Wrocławiu)
Analiza jakościowa wpływu ogłoszenia skupu akcji i wypłaty dywidendy na ceny akcji polskich spółek giełdowych
The Effects of Announcing Stock Buyback and Dividend Payout on Polish Stock Prices - Quantitative Analysis
Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia, 2011, nr 38, s. 457-468, rys., tab., bibliogr. 15 poz.
Spółki giełdowe, Dywidenda, Analiza jakościowa
Stock market companies, Dividend, Qualitative analysis
streszcz., summ..
Giełda Papierów Wartościowych w Warszawie
Warsaw Stock Exchange
The main area of the authors interests was the significant increase of the number of share buybacks programs in 2008. Financial theory gives many potential reasons for conducting a share buyback. In Polish economic environment share buybacks cannot be treated as an alternative for the dividend payout, not only due to fiscal differences but mostly because of the different information content of this transactions. Although the information capacity of the share buyback is higher than of the dividend, the main reason for conducting such programs was merely to send a signal about the undervaluation of shares.(original abstract)
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