publication . Article . 1997

Analiza rentowności polskich spółek pracowniczych

Kalinowski, Sławomir;
Open Access Polish
  • Published: 01 Jan 1997
  • Publisher: Wydział Prawa i Administracji UAM
The article presents an analysis of profitability of Polish ESOPs. The research conducted independently by IBnGR and ISP PAN and more general statistic data indicate higher profitability of ESOPs in comparison to other types of enterprises. There are two reasons for such a situation. Firstly, the best performing enterprises were included in the program of allowing employees to lease them. Secondly, ESOPs benefited from operational leverage effect much more extensively than other firms. The second, worth noting, feature of the profitability of Polish ESOPs is that in the period considered, it was growing less dynamicly than it was the case in other enterprises. T...
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