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Czy Bazylea zmieniła kapitały?

Author

Listed:
  • Piotr Staszkiewicz

    (Szkoła Główna Handlowa w Warszawie)

Abstract

W niniejszym opracowaniu dokonano analizy czynników wpływających na poziom kapitałów własnych na rynku firm inwestycyjnych w okresie 2000–2011 na próbie 11 przedsiębiorstw (domów maklerskich). Zastosowano badanie modelem liniowym oraz analizę z wykorzystaniem efektów stałych i losowych dla danych panelowych. Próba obejmowała 121 rocznych sprawozdań finansowych podmiotów inwestycyjnych. Bez względu na dobór metody poziom kapitału własnego przedsiębiorstw inwestycyjnych nie wskazuje powiązania z typem opinii biegłego rewidenta czy podstawowymi wymogami kapitałowymi. Jednakże zidentyfikowano związek między wielkością środków pieniężnych oraz wdrożeniem Nowej Umowy Kapitałowej (CRD II) na rynku firm inwestycyjnych. Wykazano silny związek wyniku brutto przed opodatkowaniem a poziomem kapitału własnego. Uzyskano niejednoznaczne wyniki w zakresie istotności wpływu przepływów pieniężnych netto, wdrożenia wymogów kapitałowych w związku z przystąpieniem Polski do Unii Europejskiej oraz polityki dywidendowej podmiotów. Zidentyfikowano obszary dalszych, potencjalnych badań.

Suggested Citation

  • Piotr Staszkiewicz, 2013. "Czy Bazylea zmieniła kapitały?," Collegium of Economic Analysis Annals, Warsaw School of Economics, Collegium of Economic Analysis, issue 30, pages 107-120.
    • Handle: RePEc:sgh:annals:i:30:y:2013:p:107-120
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    References listed on IDEAS

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