Sposoby odkupienia akcji własnych spółek publicznych a motywy jego przeprowadzania
The main objective of this article is to present the results of literature studies on methods for
shares repurchasing used by public companies, as well as present the results of empirical research
on how to buy such securities by companies listed on the Warsaw Stock Exchange in relation to
the motives of its conduct.
Purpose of the paper is carried out by empirical verification of hypotheses which stipulates
that the choice of shares repurchasing method is conditioned by different motives of redemption,
such as: achieving the company's surplus funds, lack of alternative investment opportunities,
changes in capital structure, defense against hostile takeovers, a gradual reduction of the size of the
company, changing the ownership structure, spread over the feasibility of monetary payment, an
alternative form of cash dividends and the undervaluation of the shares on the market.
The thesis consists of two main parts. The first part presents the methods of share
repurchasing with an indication of the reasons for carrying out such operations. The second part
was devoted to present the results of empirical research on motives of share repurchase of
companies listed on Warsaw Stock Exchange.