scholarly journals Impact of the Sector and of Internal Factors on Profitability of the Companies Listed on the Warsaw Stock Exchange

2018 ◽  
Vol 18 ◽  
pp. 115
Author(s):  
Ewa Majerowska ◽  
Magdalena Gostkowska-Drzewicka
Keyword(s):  
Stock Exchange ◽  
Internal Factors ◽  
Warsaw Stock Exchange

scholarly journals Conditions of Economic Efficiency of Industrial Enterprises in the Enterprise Life Cycle Stages

2019 ◽  
Vol 12 (3) ◽  
pp. 287-301
Author(s):  
Joanna Żurakowska-Sawa
Keyword(s):  
Life Cycle ◽  
Economic Efficiency ◽  
Stock Exchange ◽  
Maturity Stage ◽  
Internal Factors ◽  
Enterprise Life Cycle ◽  
Industrial Enterprises ◽  
Life Cycle Stages ◽  
State Economy ◽  
Warsaw Stock Exchange

SummarySubject and purpose of work: The purpose of the study is to determine the variables determining the level of synthetic measure of economic efficiency in listed companies of the industry sector as part of their enterprise life cycle.Materials and methods: The article uses data from annual unitary financial statements of industrial enterprises according to the classification of the Warsaw Stock Exchange and data describing the macroeconomic situation of the state economy. The research period covered the years 1999-2012. In order to examine which factors determine the level of economic efficiency at each stage of the life cycle of enterprises, estimation of econometric models was carried out.Results: In the models obtained for companies in the growth and maturity stage, statistically significant determinants were obtained only in the field of internal factors. In the models estimated for companies in the stages of launch, shake-out and decline, statistically significant conditions were identified, both in terms of external factors and in the area of internal factors.Conclusions: A comprehensive assessment of the conditions for the level of economic efficiency of enterprises should take into account both factors dependent on the enterprise (microeconomic) as well as those determined by the environment (macroeconomic) and beyond its control. It is therefore necessary for managers of enterprises to have extensive and up-to-date knowledge of factors and conditions that are significant in shaping the level of economic efficiency.

scholarly journals The Corporate Social Responsibility of Polish Energy Companies

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3815
Author(s):  
Magdalena M. Stuss ◽  
Zbigniew J. Makieła ◽  
Agnieszka Herdan ◽  
Gabriela Kuźniarska
Keyword(s):  
Corporate Social Responsibility ◽  
Literature Review ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Energy Sector ◽  
Study Approach ◽  
Csr Strategies ◽  
Warsaw Stock Exchange ◽  
Corporate Social ◽  
Energy Companies

If corporate social responsibility (CSR) is expected to work efficiently, there should be a standardised approach for implementation of the CSR concept for all businesses, including companies operating in the energy sector. Although many companies declare compliance with CSR standards, further investigation should be undertaken to evaluate if and how those standards have been applied in practice. The aim of this research is to examine the level of standardisation of the CSR activities within Polish energy companies and explore the good practices developed by those companies. The Polish energy companies have been selected for the investigation as the literature review we conducted demonstrates that there is limited research in this area and there is a knowledge gap regarding how Polish energy companies apply CSR regulation in practice. To accomplish the stated aims, the following research questions were developed: (1) What is the essence of applying the CSR concept in Polish energy companies, and at what level of development is the concept applied? (2) To what extent do Polish energy companies have a common approach to the CSR concept, and in what areas are there differences? (3) To what extent have Polish energy companies applied global CSR standards and solutions? (4) Is there a gap between the declared measures of CSR and their actual implementation in Polish energy companies? The research methodology of this study is based on a systematic literature review of the sources acquired from databases such as ProQuest, Emerald, SCOPUS and the Jagiellonian University Library. The multiple case study approach was identified as the most suitable research tool. Companies for the study were selected according to their affiliation to the energy sector and listing on the main market of the Warsaw Stock Exchange. These two assumptions allowed us to base this study on the largest Polish energy companies that have international status. Six areas of CSR annual report disclosures have been identified and used for the investigation and analysis. This research looks at similarities and difference between these six aspects of CSRs disclosed by Polish energy companies. The investigation allows us to conclude that the top three energy companies use similar tools to build their CSR strategies: formalised CSR concept, published CSR reports, disclosure of CSR information on the company website, CSR related activities offered to stakeholders, obtained CSR certificates, and CSR awards. This indicates the existence of a standardised approach to CSR across Polish energy companies.

scholarly journals Does CSR Affect the Profitability and Valuation of Energy Companies? An Example from Poland

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3668
Author(s):  
Mariusz Zieliński ◽  
Izabela Jonek-Kowalska
Keyword(s):  
Social Responsibility ◽  
Stock Exchange ◽  
Descriptive Statistics ◽  
Specific Situation ◽  
Socially Responsible ◽  
Warsaw Stock Exchange ◽  
Energy Companies ◽  
Profitability Ratios ◽  
Research Period ◽  
Financial Profitability

The article refers to the issues of financial profitability of undertaking CSR activities, which is widely reported in literature. The four largest electricity producing companies in Poland were selected for the analysis. The research period covers the years 2009–2019, when the index of socially responsible companies was operating on the Warsaw Stock Exchange. The main purpose of the article is to compare the profitability ratios and quotations of energy companies in Poland declaring themselves socially responsible with companies of the same sector that have not expressed such a declaration. The results obtained on the basis of descriptive statistics, concerning profitability ratios and stock market quotations, indicate no relationship between their level and stability and the companies’ declarations of compliance with social responsibility. Companies declaring themselves socially responsible were placed in the ranking between the results of companies that did not belong to the indicated index. This may be the result of the specific situation of energy companies in Poland.

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