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Fundusze inwestycyjne w nadzorze korporacyjnym w polskich spółkach publicznych

Author

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  • Adamska, Agata
  • Urbanek, Piotr

Abstract

The article evaluates the role of mutual funds as shareholders in companies listed on the Warsaw Stock Exchange as of the end of 2006, 2008 and 2010. The authors examine the involvement of mutual funds in the stock of publicly traded companies as well as the position of these funds compared to that of the largest shareholders. The authors also investigate the characteristic features of publicly traded companies whose shares are part of mutual fund portfolios. These companies are analyzed taking into account the status of the leading shareholder and various aspects of company operations such as human resources policy, business performance and changes to the ownership structure. The authors conclude that that mutual funds play a limited role in corporate governance processes in publicly traded companies in Poland. This is primarily due to the relatively low financial involvement of the funds. Companies whose shareholders include mutual funds usually meet higher standards in terms of corporate governance than other businesses. This may stem from the fact that mutual funds are capable of selecting better companies for their portfolios than other shareholders, Adamska and Urbanek say.

Suggested Citation

  • Adamska, Agata & Urbanek, Piotr, . "Fundusze inwestycyjne w nadzorze korporacyjnym w polskich spółkach publicznych," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2014(2).
    • Handle: RePEc:ags:polgne:358751
    DOI: 10.22004/ag.econ.358751
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    References listed on IDEAS

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    1. Jay C. Hartzell & Laura T. Starks, 2003. "Institutional Investors and Executive Compensation," Journal of Finance, American Finance Association, vol. 58(6), pages 2351-2374, December.
    2. Smith, Michael P, 1996. "Shareholder Activism by Institutional Investors: Evidence for CalPERS," Journal of Finance, American Finance Association, vol. 51(1), pages 227-252, March.
    3. David, Parthiban & Kochhar, Rahul, 1996. "Barriers to effective corporate governance by institutional investors: Implications for theory and practice," European Management Journal, Elsevier, vol. 14(5), pages 457-466, October.
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    Cited by:

    1. Słomka-Gołębiowska, Agnieszka & Urbanek, Piotr, . "Wpływ nadzoru korporacyjnego na transparentność polityki wynagradzania kadry kierowniczej w bankach w Polsce," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2015(4).
    2. Danuta Kopycińska & Radosław Wiśniewski, 2016. "Wynagrodzenia menedżerów a cele ekonomiczne spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 6, pages 69-93.
    3. Kopycińska, Danuta & Wiśniewski, Radosław, . "Wynagrodzenia menedżerów a cele ekonomiczne spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2016(6).

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