Metody estymacji kosztu kapitału własnego a użyteczność wewnętrznych mierników wartości przedsiębiorstwa
Methods of Estimating the Cost of Equity and Usefulness of Internal Measures of the Enterprise Value

Summary/Abstract: Purpose – The purpose of this article is to analyze the usefulness of economic profit in explaining the changes in the enterprise market value assuming the use of different methods of estimating the cost of equity, by examining the relationships and quality of the fit between the forming of the internal value measures and the change of shareholders rates of return. Design/methodology/approach – The paper is based on an analysis of the literature and the use of financial and statistical analysis tools in the form of efficiency measures, estimating methods the cost of equity and statistical measures, in relation to the selected companies of the construction sector in Poland. Findings – The analysis confirmed the existence of a relationship and quality of the fit between methods of estimating the cost of equity and usefulness of economic profit in explaining the changes in the enterprise market valuation. Originality/value – The study should be regarded as a starting point for further in-depth analysis of the conditions and the effectiveness of the practical use of measures based on the concept of economic profit.

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