COVID-19 a polski rynek kapitałowy - czy wyniki finansowe spółek uzasadniają zmiany cen akcji na Giełdzie Papierów Wartościowych w Warszawie?
COVID-19 and the Polish Capital Market - Do the Financial Results of Companies Justify Changes in Stock Prices on the Warsaw Stock Exchange?

Summary/Abstract: The aim of this paper is to present the results of preliminary research on the scale of price changes that took place on the Polish stock market in relation to other global markets during the COVID-19 pandemic and to compare these changes with changes in the financial results of Polish companies listed on the stock market. The research was conducted on a sample of companies included in the WIG20 index. Results indicate that stock prices on the Polish market reacted to the pandemic more strongly than most studied markets. The scale of the decline seems, however, to a large extent justified by the financial results of the WIG20 companies. Although some of them clearly improved their financial results during the pandemic, in most cases, both the sales revenues and net profits declined.

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