Impact of Exchange Rates and Oil Prices on the Valuation of Companies From the TSL Sector

Abstract

The transport, forwarding and logistics (TSL) sector in Poland has seen dynamic growth in recent years. Great attention is paid to road freight transport, which in 2011-2017 increased by almost 37%. The aim of the work was to examine the impact of macroeconomic variables, such as oil prices and USD / PLN and EUR / PLN exchange rates on the valuation of companies from the TSL sector in 2010-2018. For this purpose, spectral analysis was used. It was noted that companies most often reacted to changes in the USD / PLN exchange rate, and the least was observed in the case of changes in oil prices.