Udział członków rady nadzorczej we własności a kre-acja wartości dla akcjonariuszy
Supervisory board members ownership participation and value creation for shareholders

Summary/Abstract: The paper aims to present the influence of supervisory board members as signifi¬cant owners of stock-listed companies on the development of the value creation indicators (on the example of the companies listed on the Warsaw Stock Exchange). It was established that the companies in which the supervisory board members held substantial shares showed a higher level of P/BV and Tobin’s Q indicators with a lower level of DYR indicator than the other companies. In some cases, these regularities were confirmed through the Man Whitney U-test. Nonetheless, the development of TSR-Ce and ROE-Ce indicators was considerably varied, which did not allow for their explicit evaluation.

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