Analiza znaczenia i udziału nieruchomości w aktywach przedsiębiorstw sektora farmaceutycznego
An Analysis of Significance and Share of Real Estate in Assets of Pharmaceutical Sector Enterprises

Summary/Abstract: The purpose of this article is to assess whether there are any formal criteria required regarding presentation of information published by multinational pharmaceutical enterprises in the realm of managed portfolios of corporate real estate and also whether this scope of data can be used to assess the quality of corporate real estate management. The research was carried out based on the sample of twenty largest multinational pharmaceutical companies during the period 2001-2015. The results reveal lack of standardisation of information presented, including efficiency of their use, information about the impact on corporate financial results and benefits associated with their utilization. The analysis presents a consolidated perspective, thus the results are not discussed on the level of particular entities in particular countries where their activity is conducted. The findings of the article reveal that corporate real estate is overlooked in assessment of enterprise financial management and corporate performance due to the lack of information and unavailable source information for users of financial statements. The subject of the influence of corporate real estate financial management is the area of deficiency of information presented to shareholders and analysts despite its wide-ranging and significant impact on the overall performance of enterprises and its contribution to the chain of value added created by commercial organizations.

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