Net profit distribution policy in companies using state-owned enterprises against payment

Arbeitspapier

The main objective of this paper is to present the results of empirical studies on net profit distribution in companies using state-owned enterprises against payment . The main research hypothesis states that the majority of companies using state-owned enterprises against payment waive their right to the dividend and transfer a major part of retained earnings to supplementary capital. The empirical investigation of the main hypothesis has been conducted among 21 companies based in Mazowieckie Province, which concluded privatisation agreements with the State Treasury in years 2000-2005. The analysis of net profit distribution in companies using state-owned enterprises against payment is based on data collected and processed by the author of the article from the National Court Register, for the period from the privatisation date of the surveyed enterprises to 2010, using measures of descriptive statistics. The paper consists of the following parts: the introduction, the essence of giving state-owned enterprise for use against payment, the characteristics of companies qualified to the research sample, net profit distribution policy in companies using state-owned enterprises against payment. Finally, it is concluded that over the first three years of operation every second company using a state-owned enterprise against payment did not pay a dividend transferring all of retained earnings to supplementary capital.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Institute of Economic Research Working Papers ; No. 39/2014

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out
• Thema: privatisation process ; direct privatisation ; using state-owned enterprise against payment ; net profit distribution policy ; pecking order theory

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Matuszewska-Pierzynka, Agnieszka
• Ereignis: Veröffentlichung
• (wer): Institute of Economic Research (IER)
• (wo): Toruń
• (wann): 2014

Weitere Informationen

• Handle: http://hdl.handle.net/10419/219599
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ