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Abstract
The research presented a financial approach to an issue of estimation of efficiency of the Polish
foreign direct investments abroad (FDIA) as an instrument of value creation for investors. Besides the volume
and distribution of Polish FDIA according to economic activity and geographical zone were analyzed. The
volume of Polish FDIA outward position constantly grew due to an increase of equity capital, reinvested
earnings and other capital in 2000-2012. The period after financial crisis (2010-2012) was characterized
by a higher activity of Polish investors while the fluctuation of income from FDIA was mainly caused by a
significant level of their concentration. Government bond yields were higher than return on FDIA that gave
an evidence of relatively lower efficiency of FDIA.