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Analysis of Performance of the Warsaw Stock Exchange Companies from Finance Macrosector in Periods of Crisis

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Effective Investments on Capital Markets

Part of the book series: Springer Proceedings in Business and Economics ((SPBE))

Abstract

The aim of the article is the assessment of response to a crisis situation for companies belonging to the macrosector of finance in comparison with other sectors on the Warsaw Stock Exchange. The survival analysis methods were applied. The authors analysed the periods of decrease and of the subsequent increase in share prices during the crisis of 2008–2009 and the bear market of 2011. The Kaplan–Meier estimator of the survival function made possible to assess the probability of decrease and of subsequent increase in the share prices. The similarity of the survival curves was investigated using the log-rank test. The Cox regression model was used to determine the intensity of the decrease and increase in share prices. The analysis made possible to assess and compare the performance of the financial sectors against the background of other sectors in both periods.

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Notes

  1. 1.

    A new classification of WSE sectors was introduced in 2017. However, due to the research period prior to that date, this article uses the earlier classification of listed companies.

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Author information

Authors and Affiliations

  1. University of Szczecin, ul. Mickiewicza 64, 71-101, Szczecin, Poland

    Beata Bieszk-Stolorz & Iwona Markowicz

Authors
  1. Beata Bieszk-Stolorz
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  2. Iwona Markowicz
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Correspondence to Beata Bieszk-Stolorz .

Editor information

Editors and Affiliations

  1. Department of Insurance and Capital Markets, University of Szczecin, Szczecin, Poland

    Waldemar Tarczyński

  2. Institute of IT in Management, University of Szczecin, Szczecin, Poland

    Kesra Nermend

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Bieszk-Stolorz, B., Markowicz, I. (2019). Analysis of Performance of the Warsaw Stock Exchange Companies from Finance Macrosector in Periods of Crisis. In: Tarczyński, W., Nermend, K. (eds) Effective Investments on Capital Markets. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-21274-2_1

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