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Creating Shareholder Value in Listed Construction Companies

Author

Listed:
  • Jaros³aw Kaczmarek

    (Cracow University of Economics, Faculty of Management, Department of Economics and Organisation of Enterprises)

Abstract

The paper focuses on issues related to assessing corporate values creation from the perspective of a company’s owners. Attention is given to the use of external and internal assessment measures – market and economic values added. The paper presents the possibility of extending the area of the perception of these measures by introducing the concept of excess value. The paper is one of the publications in this area (as the cycle), so its theoretical and methodological dimensions are confined to basic concepts, with references being made to other works. The developed concept is a basis for conducting an empirical study of a group of listed construction companies. The obtained results based on a mid–term assessment confirm the hypothesis concerning a strong correlation between changes to excess market value added and the capitalisation of companies and the absence of correlation between these changes and economic and market value added changes.

Suggested Citation

  • Jaros³aw Kaczmarek, 2014. "Creating Shareholder Value in Listed Construction Companies," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 90, pages 71-76, December.
    • Handle: RePEc:kra:journl:y:2014:i:90:p:71-76
    DOI: 10.14659/worej.2014.90.11
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    More about this item

    Keywords

    value creation; value added; construction secto;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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