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dc.contributor.authorPieloch, Aleksandra
dc.date.accessioned2013-06-06T14:11:04Z
dc.date.available2013-06-06T14:11:04Z
dc.date.issued2012
dc.identifier.issn0208-6018
dc.identifier.urihttp://hdl.handle.net/11089/1934
dc.description.abstractThis article aims to present the results of empirical studies on the evolution of abnormal rates of return on undervalued shares of Polish public companies on notice of planned repurchases of these securities. The study assumed a signaling hypothesis, which states that the share repurchasing may be used by managers as a tool for sending information to the market about undervaluation of these assets. This hypothesis seems to be justified in terms of signaling theory and the theory of information asymmetry. This article is divided into two main parts. The first part presents a theoretical concept of own shares, motives of repurchasing, the internal value of shares and the attractiveness rate of repurchases. The second part presents the results of empirical research on the number of buy-back programs in 2001–2009, and the reasons for carrying out the repurchasing of shares. Main attention is paid to the analysis of the formation of abnormal rate of return on undervalued shares with particular emphasis on the planned size of the repurchasing, buy-back method and the size of the company.pl_PL
dc.language.isoplpl_PL
dc.publisherWydawnictwo Uniwersytetu Łódzkiegopl_PL
dc.relation.ispartofseriesActa Universitatis Lodziensis, Folia Oeconomica;272
dc.subjectundervalued sharespl_PL
dc.subjectbuy-back operationspl_PL
dc.subjectaverage abnormal returnpl_PL
dc.subjectinternal value of sharepl_PL
dc.subjectsignaling hypothesispl_PL
dc.subjectattractiveness rate of repurchasespl_PL
dc.titleReakcja warszawskiego parkietu na ogłoszenie komunikatu o planowanym nabyciu akcji własnych niedowartościowanychpl_PL
dc.title.alternativeResponse of Warsaw Capital Market to the Notice of Planned Buy-back of Undervalued Sharespl_PL
dc.typeArticlepl_PL
dc.page.number165-182
dc.contributor.authorAffiliationUniwersytet Łódzki


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