Company growth and growth opportunities on the example of some EU stock exchanges in the light of market characteristics

Monika Bolek; Agata Gniadkowska-Szymańska; Piotr Pietraszewski

doi:10.18778/0208-6018.359.04

Autor

Monika Bolek University of Lodz, Faculty of Economics and Sociology, Department of Corporate Finance, Poland, Lodz https://orcid.org/0000-0001-9376-1105
Agata Gniadkowska-Szymańska University of Lodz, Faculty of Economics and Sociology, Department of Capital Market and Investments, Poland, Lodz https://orcid.org/0000-0002-7321-3360
Piotr Pietraszewski University of Lodz, Faculty of Economics and Sociology, Department of Capital Market and Investments, Poland, Lodz https://orcid.org/0000-0002-0589-0327

DOI:

https://doi.org/10.18778/0208-6018.359.04

Słowa kluczowe:

rozwój firmy, możliwości rozwoju firmy, rynek giełdowy

Abstrakt

Niniejszy artykuł analizuje związek między miarami możliwości rozwoju a przyszłym rozwojem firm. Jeśli istnieje korelacja między potencjałem wzrostu firmy a jej realnym wzrostem, rynki są bardziej przewidywalne i efektywne. Badanie zostało przeprowadzone na przykładzie następujących rynków europejskich: Austrii, krajów bałtyckich, Węgier, Francji, Polski i Niemiec. Celem artykułu jest ocena związku między miarami szans rozwojowych a przyszłym rozwojem spółek notowanych na giełdach niektórych rynków w Unii Europejskiej. Rozpatrywane kraje można sklasyfikować według wielkości państwa, płynności rynku i rozwoju rynku giełdowego. Oczekiwano, że te czynniki zewnętrzne wpłyną na siłę wzrostu. Stwierdzono, że miary możliwości wzrostu oparte na cenach rynkowych mają moc prognostyczną dla przyszłego rozwoju firm. Są one również silnie powiązane z przyszłym rozwojem firm w dużych krajach i słabo powiązane z przyszłym wzrostem w małych krajach. Niniejsze opracowanie uzupełnia literaturę na temat zastosowania miar szans wzrostu w odniesieniu do cech rynku. Uzyskane wyniki są zgodne z poglądem, że płynność rynku powinna zwiększać jego efektywność w ujawnianiu wartości akcji oraz z hipotezą wszechstronnej przewagi dużych krajów.

Pobrania

Statystyki pobrań niedostępne.

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