The Capital Market as External, Institutional Mechanism of Corporate Governace
Journal Title: Zarządzanie i Finanse - Year 2014, Vol 12, Issue 3
Abstract
The purpose of this paper is to analyze and assess the capital market as the institutional mechanism of corporate governance in selected listed companies (registered in Poland), of the construction sector. One of the most important instrument of the capital market in Poland is the Warsaw Stock Exchange in Warsaw. This is called „regulated market” and thus associated with higher requirements for companies aspiring to trading on the market. There are two main conclusions arising from the research: 1. The capital market in Poland is not still a mechanism for evaluation in a fair activity and financial condition of companies. At the present stage of its development does not provide a fully reliable criteria for assessing the activities of companies as a result of his immaturity and vulnerability to internal and external shocks (political situation in the country, the situation on the foreign securities markets, etc.). 2. Evaluating the construction sector we can talk about adjusting to its division. On the one hand, we have companies that still achieve poor financial results, and on the other those that are doing quite well. This diversity results of companies in the same industries is the result of the situation after the crisis in 2009, which became the filter and allow to indicate the best. With rivalry emerged victorious companies that are well managed and perspective.
Authors and Affiliations
Katarzyna Żak
Keywords
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