The Impact of Investment on Operational Performance during the Recent Crisis
DOI:
https://doi.org/10.15678/ZNUEK.2015.0938.0203Keywords:
investment, crisis, financial performance of listed firms, emerging marketsAbstract
The article investigates how investments made during the pre-crisis period from 2005 to 2007 influenced the financial performance of listed firms in Poland during the crisis. Using long-term event study methodology, we established that the investments had a negative impact on operational performance as the cost effects of investment were stronger than the effects of modernising the production process. However, there were industry-specific exceptions to this rule.Downloads
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