Institutional Investors in Ownership Structure of Construction and Real Estate Development Companies in Poland: The Impact on Financialisation Ratios
Institutional Investors in Ownership Structure of Construction and Real Estate Development Companies in Poland: The Impact on Financialisation Ratios

Author(s): Paweł Oleksy, Andrzej Zyguła
Subject(s): Business Economy / Management, Financial Markets
Published by: Икономически университет - Варна
Keywords: Construction companies; Financialisation; Institutional investors; Ownership structure; Real estate development companies
Summary/Abstract: In this paper we examine whether the presence and position of institutional investors in ownership structure of construction and real estate development companies listed on the Warsaw Stock Exchange affects basic financialisation measures. Our findings indicate that the value of specified financialisation indicators is more influenced by the presence of institutional investors in the ownership structure than by their relative dominance over noninstitutional shareholders. Additionally, considerably higher mean values of most financialisation ratios in development companies suggest their greater degree of financialisation as compared to construction entities.

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