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Wyświetlanie 1-3 z 3
Tytuł:
Determinants of board diversity policy implementation by companies listed on the Warsaw Stock Exchange
Autorzy:
Wawryszuk-Misztal, Anna
Powiązania:
https://bibliotekanauki.pl/articles/22444320.pdf
Data publikacji:
2021
Wydawca:
Instytut Badań Gospodarczych
Tematy:
corporate governance
board diversity policy
institutional theory
Opis:
Research background: Diversity management is one of the hot topic issues present in current public discussions. Board diversity requirements are quite new for Polish public companies. The companies listed on the Warsaw Stock Exchange have to publish a statement on the company's compliance with the corporate governance recommendations and principles included in ?Best Practice for GPW Listed Companies 2016?. This regulation is based on the 'comply or explain? principle, thus the company may decide whether to comply with every rule included in the code, but decision on not implementing one or more rules should be explained by the company. Some of the recommended rules regard the board (supervisory and management) diversity policy implementation, where diversity refers to such dimensions as gender, education, age and professional experience. Purpose of the article: This study aims to investigate determinants of board diversity policy implementation by domestic companies listed on the WSE. It also documents explanations provided by companies that do not apply board diversity policy. Methods: The research sample covers 268 non-financial domestic companies listed on the Warsaw Stock Exchange between 2016 and 30 November 2018. The companies? current reports on company compliance with the corporate governance codes and information issued on companies? websites were analyzed in order to identify those that announced implementation of board diversity policy. This study uses logistic regression analysis to identify the firm-level characteristics that may influence the implementation of board diversity policy. Findings & value added: This is the first study analyzing the drivers of board diversity policy implementation by Polish companies listed on the WSE. It shows that large companies, companies with larger management boards and companies with women acting as presidents of the supervisory boards are more likely to take actions seeking to achieve management and supervisory board diversity.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2021, 16, 3; 617-637
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Catering Approach to the Dividend Payment Policy on the Warsaw Stock Exchange
Autorzy:
Pieloch-Babiarz, Aleksandra
Powiązania:
https://bibliotekanauki.pl/articles/517212.pdf
Data publikacji:
2015
Wydawca:
Instytut Badań Gospodarczych
Tematy:
catering theory of dividends
dividend policy
propensity to pay dividend
behavioural finance
Opis:
Dividend payment policy is a significant issue of neoclassical theories of finance. One of the concepts which poses a challenge tothe neoclassical approach to dividend payment policy is behavioural finance, including a catering theory of dividends. The aim of the article is to examine whether and to what extent the catering theory of dividends is reflected in the behaviour of shareholders and managers on the WSE. The opportunity to accomplish the aim of this paper was conditioned by the empirical verification of research hypothesis stipulating that the number of dividend payers increases if the dividend payers are priced by the capital market higher that the nonpayers. The empirical verification of hypothesis was conducted basing on the equal- and value-weighted dividend premium as well as dividend payment ratios. Moreover, descriptive statistics, Spearman's rank correlation coefficient, linear regression and coefficient of determination were used. The study was carried out on the basis of companies operating in the electromechanical industry sector that were listed on the WSE in the period between 1999-2013. The figures were taken from the Stock Exchange Yearbooks, Notoria Serwis database and GPWInfostrefa platform. The preliminary results of empirical research in the range of the catering theory of dividends allow to draw a conclusion that this theory may be useful in explaining the dividend policy conducted by electromechanical industry companies listed on the WSE.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2015, 10, 2; 183-206
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
NET PROFIT DISTRIBUTION POLICY IN COMPANIES USING STATE–OWNED ENTERPRISES AGAINST PAYMENT
Autorzy:
Matuszewska–Pierzynka, Agnieszka
Powiązania:
https://bibliotekanauki.pl/articles/488852.pdf
Data publikacji:
2015
Wydawca:
Instytut Badań Gospodarczych
Tematy:
privatisation process
direct privatisation
using state–owned enterprise against payment
net profit distribution policy
pecking order theory
Opis:
The main objective of this paper is to present the results of empirical studies on net profit distribution in companies using state–owned enterprises against payment. The main research hypothesis states that the majority of companies using state–owned enterprises against payment waive their right to the dividend and transfer a major part of retained earnings to supplementary capital. The empirical investigation of the main hypothesis has been conducted among 21 companies based in Mazowieckie Province, which concluded privatisation agreements with the State Treasury in years 2000–2005. The analysis of net profit distribution in companies using state–owned enterprises against payment is based on data collected and processed by the author of the article from the National Court Register, for the period from the privatisation date of the surveyed enterprises to 2010, using measures of descriptive statistics. The paper consists of the following parts: the introduction, the essence of giving state–owned enterprise for use against payment, the characteristics of companies qualified to the research sample, net profit distribution policy in companies using state–owned enterprises against payment. Finally, it is concluded that over the first three years of operation every second company using a state–owned enterprise against payment did not pay a dividend transferring all of retained earnings to supplementary capital.
Źródło:
Oeconomia Copernicana; 2015, 6, 2; 89-107
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
    Wyświetlanie 1-3 z 3

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