Nabycie akcji własnych a bezpieczeństwo finansowe publicznych spółek przemysłowych
Share Repurchase and Financial Security of Public Industrial Companies

Summary/Abstract: This paper is empirical in nature. Its objective is to identify and characterize the financial results of share repurchase conducted by the public industrial companies in the years 2001-2016. The objective was achieved by an empirical verification of research hypothesis stating that public industrial companies are financially secure not only before, but also after share repurchase. The hypothesis was verified positively using, among others, the Wilcoxon signed-ranks test. The research showed that the surveyed companies were in a good financial situation before share repurchase, and their financial security was retained even after share repurchase program. After share repurchase we observed: an increase in return on assets and return on equity, a decrease in excess liquidity, and an increase in the share of liabilities in total assets.

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