Wartość rynkowa oznaką pozycji i przewagi konkurencyjnej przedsiębiorstw
The market value as an indication of the position and competitive advantage of enterprises

Summary/Abstract: The main aim of this paper is a theoretical and empirical analysis of the possibility to recognize the market value as an indication of the position and the competitive advantage of enterprises. The main thesis of this article is the statement assuming that the high market value of a company in relation to its book value, is combined with simultaneous high market share of this company. The significance of chosen topic stems from the approval of the concept of value creation as a key objective of the company's activity. Empirical research consisted the companies listed on the Stock Exchange in Warsaw belonging to the construction sector. The variables of the position and the competitive advantage of company's were distinguished, i.e. the share of revenues from the sale of the company's to total revenue of the whole sector and the relation of the market value of the company to its book value. The results showed a lack of correlations between above mentioned variables. Based on the empirical analysis a significant difference between the place in the ranking in terms of generated market value and the extent of the company's total sales revenue of the entire sector has been stated.

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