Finanse, Rynki Finansowe, Ubezpieczenia

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia

ISSN: 2450-7741     eISSN: 2300-4460    OAI    DOI: 10.18276/frfu.2016.79-02
CC BY-SA   Open Access 

Issue archive / 1/2016 (79)
Rozmiary działalności a struktura kapitałowo-majątkowa i rentowność przedsiębiorstw budowlanych notowanych na Giełdzie Papierów Wartościowych w Warszawie
(The Size of Business Versus the Structure of Capital and Assets and Profitability of Construction Companies Listed on the Warsaw Stock Exchange)

Authors: Jacek Barburski
Keywords: structure of capital versus size of business profitability versus size of business correlation analysis
Data publikacji całości:2016
Page range:14 (27-40)
Cited-by (Crossref) ?:

Abstract

The of this paper mainly aims to investigate the relationship between the size of business and the structure of assets and capital and profitability and companies’ operations. A statistical characterisation of the empirical distributions of indicators of the structure of companies’ assets and capital is the author’s subtarget. The author investigates an assumed relationship between the size of business (H1) and the structure of assets and capital, and (H2) the size of the business and profitability of business operations. The study focuses on construction companies listed on the Warsaw Stock Exchange, both on the main floor and the NewConnect OTC market, and relies on cross-sectional data for 2011–2014. In order to verify the hypothesis, the author uses correlation analysis. As a result of verification of the first research hypothesis (H1) the author established that that in some cases, depending on the choice of analysed variables and the year, there exists a statistical relationship between the size of operations and the structure of assets and capital. On the other hand, analysis of the second hypothesis (H2) i.e., the hypothesis assuming the existence of a relationship between the size of the operations and profitability, revealed no statistical significance in any of the cases under analysis. In addition, using the Shapiro-Wilk, the author found that the empirical distribution rate of the share of shareholders’ equity to total liabilities and shareholders’ equity as a variable determining overall capital structure is not significantly different from normal distribution in each of the cases under analysis.
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Bibliography

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