Search results for query: Dziawgo

1. Regulations of the financial market in Poland. Equilibrium vs. inversion
   

   Author: Leszek Dziawgo, Danuta Dziawgo

   See Issue Contents: fins.2018.4

   Abstract:

   The subject of this study is the legal regulations concerning the banking and stock market sector. The research objective is to identify the issue of the adequacy of legal regulations on the modern financial market. The object of the research is the banking institutions and companies listed on the stock exchange. The following research methods were used, i.e. the analysis of the literature, analysis of legal acts, observations, descriptive, comparative and case study analysis. It was found that there has been an increase in the level of detail and restrictiveness of legal regulations in recent years, both in relation to the banking sector and to the stock market. In addition, the legislative revolution not only continues, but is also gaining momentum. Thus we could formulate a conclusion about the inversion of the modern financial market. The financial market was to facilitate business operations through access to capital. Currently, excessive regulations indicate the growing legal barriers to entering the financial market and conducting business activity in it

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2. Dividend Policy of Capital Groups Listed on The Warsaw Stock Exchange – Research Results
   

   Author: Bartłomiej Jabłoński

   See Issue Contents: fins.2021.1

   Abstract:

   The aim of the article was to present research on the characteristics of the dividend policy of capital groups and other dividend companies listed on the Warsaw Stock Exchange that paid dividends in 2012-2019 and to undertake a critical evaluation. The research relates to the methods of describing the dividend policy implemented by companies listed on the Warsaw Stock Exchange, which publish consolidated financial statements (capital groups) and measures of the system of payout of dividends by these entities. Based on the conducted research, it should be stated that capital groups are of a higher average annual dividend growth rate than companies publishing only separate financial statements, whilst the latter boast a higher average cumulative rate of dividends. The conducted research shows that the parent companies do not show whether they receive dividends from their subsidiary companies. However, based on the Spearman’s Rho analysis and the Pearson linear correlation coefficient for the analysed companies, it was found that there was a statistically significant link for capital groups and other companies between the average annual rate of return and the cumulative rate of dividends, and only for the remaining companies, a positive link between the average annual dividend growth rate and the cumulative rate of dividends (yet, this has not been confirmed by the Pearson’s linear correlation coefficient). The added value and application value are recommendations regarding the attractiveness of investing in dividend companies – capital groups or companies without related entities.

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3. Dividend Policy and the Nautre (Positive / Negative) of Cash Flows of Selected Companies Listed on the Frankfurt Stock Exchange
   

   Author: Anna Dada

   See Issue Contents: fins.2021.2

   Abstract:

   The main purpose of the article was to investigate whether there are joint-stock companies listed on the Frankfurt Stock Exchange between 2000-2017 that paid regular dividends. The sample was divided into dividend companies (who pay out dividends without any interruption) and other companies. A subsidiary objective was to compare the dividend companies and other companies concerning the direction of the cash flows of companies (positive/negative). Based on the conducted research, it should be stated that dividend companies have on average higher DPS for the years 2000-2017 than other companies. Additionally, the variants of the financial situation of an enterprise about with to the type of activity and the nature of net cash flows were presented by assessing the financial situation of the enterprise to about whether it generates a positive (or negative) balance of cash flows from the following activities: operations, investments, finance. The conducted research shows that the percentage of dividend companies in variants 1–4 among models of eight cases based on selected information on cash flows is greater than the percentage of other companies. The application value is recommendations regarding the attractiveness of investing in dividend companies. These conclusions may also be useful for companies listed on other exchanges, e.g., the Warsaw Stock Exchange. The dividend payment policy should be supported by rational cash flow management. The study may be used as preliminary research indicating the direction of further, more advanced research in this field.

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4. The ACCA accreditation in Poland – accounting educators’ perspective
   

   Author: Michał Biernacki, Joanna Krasnodomska, Ewelina Zarzycka

   See Issue Contents: fins.2019.4

   Abstract:

   Organizations certifying accountants, such as the Association of Chartered Certified Accountants (ACCA), play an important role in strengthening their professional status. Being accredited by them has recently become the goal of many institutions which offer accounting programs. Our paper aims to investigate the impact of ACCA accreditation on the accounting education in Poland, as well as to identify the important aspects of the collaboration between ACCA and accounting educators. The findings are based on a survey conducted among 50 faculty members from seven Polish universities. According to the respondents the accreditation increases the prestige of the offered teaching programs and has an important impact on the organization of exams taken by the students participating in accredited courses. The ACCA engagement in collaboration with universities consists mostly in promotion of the accredited programs. Despite some limitation the study provides new insights into the problem of accounting education in the accreditation processes context

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5. The dividend policy of companies listed on the Warsaw Stock Exchange
   

   Author: Justyna Bogołębska

   See Issue Contents: fins.2019.2

   Abstract:

   Dividend policy is created and formulated by companies. For this reason, the focus of the analysis is on the message conveyed by the information on the dividend payout, the relationship between the dividend and financial indicators, the continuity of the payout and the amount of the dividend itself. Decisions on the dividend payment include two basic issues: what portion of profits should be paid out over a certain period of time and whether the company should maintain a steady and stable growth rate. If a steady and stable growth rate is maintained, then the level of earnings will increase from year to year. This phenomenon is confirmed by the growing number of companies paying dividends. The purpose of the article is to indicate significant differences in stock prices before the dividend payment and after the dividend payment, and to indicate significant differences in stock prices before the announcement of the dividend right and after the announcement of the dividend right

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6. Characteristics and realization of the dividend policy of companies quoted on the Warsaw Stock Exchange for the period 2008-2017
   

   Author: Bartłomiej Jabłoński

   See Issue Contents: fins.2019.3

   Abstract:

   The article takes up the issue of the characteristics and the implementation of the dividend policy of companies quoted on the Warsaw Stock Exchange in Warsaw for the period 2008-2017. The purpose of the research is the characteristics of dividend policy company satisfaction mechanism, including an assessment of its actual implementation. To study the characteristics and implementation of the dividend policy by the company’s dividend, eventually it was necessary to classify the companies that during the period of 2009-2018 paid dividends for the period 2008-2017 without a break (at 31.07.2018). The test results indicate a high average annual growth rate of paid dividends. Unfortunately, more than half of the companies developed a dividend policy and those that have it as the basis for their decision on the amount of payment of dividends indicate net profit and investment needs.

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