Emisja akcji jako źródło pozyskiwania kapitału przez przedsiębiorstwa
Issuing shares as a means of raising capital by enterprises

Summary/Abstract: This article aims to evaluate the benefits of equity issuance as a source of financing for enterprises and to compare this method with other popular capital acquisition instruments, such as bank loans, bond issues, and the innovative Initial Coin Offerings (ICOs). The study is descriptive and empirical, based on data from the Warsaw Stock Exchange (GPW) and NewConnect from 2011-2024. The article thoroughly discusses the process of equity issuance in Poland, its legal regulations, valuation methods, and associated costs. It also presents the historical development and statistics of capital markets in Poland, including the number of listed and debuting companies. A comparative analysis highlights the significant advantages of equity issuance, including the ability to raise capital without incurring interest costs. The research findings can serve as a guide for enterprises in making decisions regarding the optimal financing source.

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