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Tytuł:
Rola instrumentów pochodnych w kryzysie finansowym 2008/2009
The role of derivatives in global financial crisis 2008/2009
Autorzy:
Szymańska, Justyna
Powiązania:
https://bibliotekanauki.pl/articles/569908.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
MBS
CDS
Opis:
The article presents the development of the financial crisis in the United States in 2008/2009, which led to the global financial crisis. The aim of the paper is to systematize the knowledge of the reasons of the crisis. The author shows the correlation among the elements that caused the economy breakdown. The text describes the inception of subprime credits, i.e. mortgages granted to the individuals with poor credit history, securitization and expansion of mortgage and asset-backed securities derived from the subprime credits. The mechanism of the securitization has been broadly described, as well as the idea of the Collateralized Mortgage Obligation presented in 1977. The other derivatives mentioned in the article are Asset Backed Securities, Mortgage Backed Securities, Collateralized Debt Obligations and Credit Default Swaps. The definitions and the clarification of their meaning are supported by the explanation why the investors have been lured and fascinated by them. The author also answers the question why the derivatives became a serious threat to the economic and financial stability. The next problem is the legal context of the crisis, for example the changes brought by Gramm-Leach-Bliley Financial Services Modernization Act of 1999 which allowed the banks to join commercial and investment activity. Such a change made the banks start to compete, to create and to sell Asset Backed Securities, Mortgage Backed Securities, Collateralized Debt Obligations and Credit Default Swaps on a large scale. The next problem described in the text is the evolution of the shadow banking sector, i.e. the parallel banking sector, as well as the large, complex financial institutions (LCFIs) in the 1970s. The another issue is the creation and the burst of the housing bubble. The author presents the development of the real estate and mortgage market commenced by Home Mortgage Disclosure Act and Community Reinvestment Act and supported by Government Sposored Enterprises: Fannie Mae and Freddie Mac. Among the causes of the global financial crisis the important role is attributed to the credit rating agencies. They have been paid by the financial institutions to prepare the credit ratings of the risky financial instruments. Moreover they were basing on the old models. As the result, the ratings were much overstated and provided false information to the investors. The last part of the article presents how the crisis spread in the United States and how it affected the other economies.
Źródło:
Ekonomia XXI Wieku; 2014, 2(2); 34-44
2353-8929
Pojawia się w:
Ekonomia XXI Wieku
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
KORELACJA INDEKSÓW CEN AKCJI NA GLOBALNYCH RYNKACH FINANSOWYCH
Correlation on the global financial markets
Autorzy:
Hołubowicz, Krzysztof
Powiązania:
https://bibliotekanauki.pl/articles/950801.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
correlation
stock market
financial crisis
Opis:
The main objective of the paper was to study connections between the financial markets including the Polish stock exchange market. The author wanted to respond to the following questions: • How strong are correlations among the main stock exchanges in the world? • What is the time (bear market or bull market) with stronger interdependencies among global financial markets? • What markets are most related to Polish WIG 20 Index? The author gathered data from 1999 till 2011. Correlation is calculated for the main global stock exchanges but it also contains Polish market. We can see that the longer period of calculation the weaker connections among stocks all over the world. Furthermore in crisis time interdependencies are stronger what leads us to support a hypothesis that diversification among stock markets does not work properly because of global economy. Next research in this area should focus on the fundamental determinants of international correlation across equity markets. Studies have to take into consideration industry specifications of each national market as well as the correlation of the countries’ business cycles.
Źródło:
Financial Sciences. Nauki o Finansach; 2014, 2(19); 71-81
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Portfolio investment in the twenty first century – a literature review and analysis of flow directions
Autorzy:
Broszkiewicz, Magdalena
Powiązania:
https://bibliotekanauki.pl/articles/570076.pdf
Data publikacji:
2017
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
portfolio investment
capital flows
financial crisis
Opis:
The subject of portfolio investment seems particularly significant given that the current fluctuations on international financial markets make it necessary to perform an analysis of their causes and effects. It seems reasonable to make considerations regarding the direction of the flow of portfolio investment in the twentieth and twenty-first century. This article presents theoretical considerations concerning the characteristics and effects of the flow of portfolio investment in the global economy and an analysis of flow directions in the years 1960-2015. These considerations are based on data of the International Monetary Fund and the World Bank, which collate net inflows of the portfolio investment to particular countries in the indicated period. Our considerations show the links between the financial markets of countries and regions, together with the general tendencies of movements of capital at the time of crisis and the stabilization periods of global financial markets. The article shows the link between the financial markets of individual countries, together with the general trend of movement of capital in the period of crisis and the stabilization of financial markets
Źródło:
Ekonomia XXI Wieku; 2017, 2 (14); 24-38
2353-8929
Pojawia się w:
Ekonomia XXI Wieku
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
ZMIANY STRUKTURY OBCIĄŻEŃ PODATKOWYCH W PAŃSTWACH UNII EUROPEJSKIEJ W OKRESIE KRYZYSU A PRZEWIDYWANIA TEORII KONKURENCJI PODATKOWEJ
Changes of tax burden structure in the european union countries during the crisis vs. predictions of tax competition theory
Autorzy:
Kudła, Janusz
Powiązania:
https://bibliotekanauki.pl/articles/950724.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
tax competition
tax system
financial crisis
Opis:
The article verifies the impact of economic variables on the tax burden in the European Union countries, which took place in period 2006-2011. We concentrate especially on compatibility with the predictions of some theories of international taxation. The confirmation of selected predictions should allow for the better understanding of the mechanisms behind the observed tax adjustments and to construct new theoretical models better fitted to the observations. We especially test for example: the hypothesis of tax competition in traditional form and with agglomeration effects, compensation hypothesis, hypothesis of tax export and fiscal solvency hypothesis. The main results confirm the impact of the crisis on the increase of the capital and labor tax burden. However, this effect has not led to the significant growth of the tax revenues. It stipulates that the situation of each country is more relevant for the explanations of the results than the weakening or strengthening of tax competition during the crisis.
Źródło:
Financial Sciences. Nauki o Finansach; 2014, 3(20); 11-27
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
RACHUNKOWOŚĆ ZARZĄDCZA UKIERUNKOWANA NA OCHRONĘ ŚRODOWISKA JAKO PRZEJAW SPOŁECZNEJ ODPOWIEDZIALNOŚCI PRZEDSIĘBIORSTW
Economy-related and sector conditions for the creation of value for shareholders
Autorzy:
Szewc-Rogalska, Alina
Powiązania:
https://bibliotekanauki.pl/articles/950880.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
economic deceleration
value for shareholders
Opis:
This study aims to determine to what extent the crisis in the financial market and changes in economy trends and differentiation between sectors affect the creation of value for shareholders (exemplified by companies quoted on the Warsaw Stock Exchange). In terms of the criterion of a rate of return from the sector sub-index, the fuel and media sector are conspicuous. The relation of a market price to the book value of shares achieved the highest level in the media and food sectors, as well as in civil engineering and telecommunication. The highest rate of dividend was demonstrated by telecommunication and food industry. The enumerated sectors showed a high capacity to create the value, mainly in the period of a favourable trend in the stock exchange, while they demonstrated lower destruction of value than other sectors during its deterioration.
Źródło:
Financial Sciences. Nauki o Finansach; 2014, 1(18); 75-86
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Rozwój lokalny i regionalny po kryzysie
Autorzy:
Skubiak, Beata
Powiązania:
https://bibliotekanauki.pl/articles/434718.pdf
Data publikacji:
2013
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
economic crisis
regional development
local development
crisis effects
Opis:
The world is influenced by a deep and prolonged economic slowdown, which has been called the “great recession”. In comparison to the Great Depression of 1929-1933 and previous economic shocks, the current recession takes place in economically and financially integrated world. The ways of dealing with the crisis are different depending on the country and its decision-making level (the central government or local government). The impact of the crisis on different regions is certainly not the same and to a large extent it depends on the national economic and possessed sectoral structure. In the short term crisis effects will influence more regions with an old economic structure which is dominated by the manufacturing sector. However, in the long-term crisis effects can vary in different regions. Since 2009 to the present there have been conducted several studies examining the influence of the crisis on the cities and regions. Some studies analyze a certain sector, for example the real estate markets, the phenomenon of housing exclusion or financial failures in urban areas. Other studies analyze the economic and social outcomes of the crisis on various European and American cities. The other try to analyze the position of local governments in the face of the economic disaster. Regions with specialized manufacturing processes can play an important role in stimulating economic growth despite external shocks, if they are well prepared to recover the balance for domestic and international demand. In the case of structurally weak regions there is a risk that the loss of jobs and businesses in a recession can lead to structurally lower levels of employment and economic activity. Moreover, the reducing employment can be a cause that these regions are more vulnerable to further cuts in public spending in order to minimize the debts in recent years. Such a situation will force the regional policy to search for the ways to increase efficiency and the quality of spent money, for example through collaboration and bottom-up approach to development which mobilize existing entities and resources in the area. It is also important that the actions taken by the state, which meant to lead to more growth cannot be at the cost of limiting the founds given for the research and development as well as innovation and human capital. However, one of the most important experience in time of crisis is to determine the scale of the economic interdependence between regions and countries, and the need for international and inter-regional cooperation and coordination to solve common problems. In addition, the crisis points at the importance of government intervention in the form of both monetary and fiscal policy as well as in minimizing the economic problems. The purpose of this paper is to answer the question of how the current financial and economic crisis will have long-term consequences for local and regional development.
Źródło:
Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu; 2013, 2 (23); 77-91
2080-5977
Pojawia się w:
Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Causality analysis between stock market indices
Autorzy:
Sekuła, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/947589.pdf
Data publikacji:
2020
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
stock market
cointegration
Granger causality
financial crisis
Opis:
The paper examines relationships between selected stock market indices in Western Europe, Central Europe, and the United States. The study focuses on two periods, from January 1998 to August 2006 and from September 2006 to December 2016. The first one includes stock quotes from before the financial crisis while the second one covers the crisis and changes in the economic situation in post-crisis years. Relationships between stock market indices in developed economies were more frequent and durable than in Central Europe, although they were subject to changes. In our investigation into Granger causality relationships we observed changes in these relationships and in their direction for stock markets in Central Europe, while bidirectional relationships between indices in developed economies remained stable over time. Changes in relationships between indices, in particular long- -term interdependences, may result from the impact of the 2008 financial crisis. The increased number of causality relationships for the markets in Central Europe may testify to the advancing integration of the EU common market.
Źródło:
Financial Sciences. Nauki o Finansach; 2019, 24, 1; 74-93
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Financial system stability vs. social policy
Autorzy:
Karaś, Marta
Powiązania:
https://bibliotekanauki.pl/articles/581412.pdf
Data publikacji:
2017
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
social costs
financial stability
financial crisis
macro-prudential regulation
Opis:
The paper adds to the discussion of social costs of financial crises through theoretical elaboration, arguing for the position that supporting the stability of financial systems, if combined with public confidence in financial markets and banking, leads to a reduction of social costs by reducing the frequency of crises associated with the long-term development of the financial sphere in the world. Following the theoretical function proposed by Adrian, Covitz and Liang [2014], the author elaborates that prudential regulation may lower the social costs of crises. This calls for an active role of regulating the financial sector and that of the central banks, as the preferred sensitivity of the financial system to shocks may be achieved by prudential regulation and the increasing of transparency of the system, as well as by the management of social perception of stability (security) of this system. The paper postulates the abovementioned relation by reviewing selected empirical studies and framing the discussion in theoretical elaboration on social costs and financial stability.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2017, 482; 85-106
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
KRÓTKOTERMINOWE KREDYTY BANKOWE DLA PRZEDSIĘBIORSTW W WARUNKACH KRYZYSU FINANSOWEGO
Short-term loans for enterprises in the conditions of financial crisis
Autorzy:
Mikołajczak, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/950820.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
short term funding
bank credit
GDP
Opis:
The economic slowdown in Poland, which is mainly a consequence of the ongoing global financial crisis since 2008, exposed Polish firms to the danger of loss of liquidity risk arising among others from the deteriorating financial condition of companies and limited access to short-term finance. It determines not only the proper functioning of any enterprise, but often the ability of surviving on the market. The article presents the results of analyzes of relationship between the dynamics of changes in different types of short-term loans and the gross domestic product. It also presents the most important types of financial crises and the factors that determine them. An attempt was made to present the credit policy of banks to changes in the economic situation in Poland.
Źródło:
Financial Sciences. Nauki o Finansach; 2014, 2(19); 122-137
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Panika roku 1907 – kryzys finansowy 2008. Sto lat budowania kreatywnego kapitalizmu
The panic in 1907 – the financial crisis in 2008. One hundred years of creative capitalism building
Autorzy:
Kwaśnicki, Witold
Powiązania:
https://bibliotekanauki.pl/articles/570118.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
FED
central bank
crony capitalism
political capitalism
Opis:
Usually, current financial crisis of 2008 is compared to the Great Depression of 1929. But there are some evidence that our current financial crisis has much more similarities and analogies to the crisis initiated by the panic in 1907. A brief analysis of both crises is presented. This analysis is conducted on the basis of the history of the United States of America, where both mentioned crises were initiated. However, we will search for the answer to the basic question, namely: how events in the early twentieth century shaped the history of the economies in the next hundred years, and how expected changes in the institutional arrangements after 2008 may be comparable to the revolutionary changes of the social order after 1907 (e.g., appearance of the FEDeral Reserve System in 1913, the adoption of the 16th Amendment of the U.S. Constitution, enabling the collection of taxes on personal income, growth and omnipotence of government agencies)?
Źródło:
Ekonomia XXI Wieku; 2014, 2(2); 9-33
2353-8929
Pojawia się w:
Ekonomia XXI Wieku
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Konsensus waszyngtoński a doświadczenia Indonezji i Malezji w trakcie azjatyckiego kryzysu finansowego z 1997 roku
The Washighton Concensus and the experience of Malaysia and Indonesia during the Asian Financial Crisis
Autorzy:
Gliniak, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/570174.pdf
Data publikacji:
2016
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
The Washington Concensus
Malaysia
Indonesia
Asian Financial Crisis in 1997
Opis:
The purpose of this article is to present the impact of Washington Consensus principles for selected Southeast Asian countries – Malaysia and Indonesia and their struggle during Asian Financial Crisis in 1997. Government’s universal issue, particularly in developing countries, is the ability to find a range of government market regulations to ensure fast economic development and social wealth. The author presents that an idea of the government participation is contained between two opposite concepts. The first idea claims that the government should be completely eliminated. The second, one that the government intervention is necessary to revise the market failures. Initially, the Washington Consensus principles were based on laissez-faire and neoliberal solutions. According to postulates prepared by J. Williamson, the Washington Consensus principles originally anticipated e.g. financial discipline, economy and trade liberalization, privatization, open for FDIs or deregulation. Proposed laissez-faire reforms were supposed to to constrict the role of government and build the functioning of economy upon a market mechanism.. Representatives of Bretton Woods organisations e.g. International Monetary Fund or The World Bank, followed this way to achieve the goals of the Washington Consensus. Due to the consensus political effectiveness, the postulates were implemented in many countries in Latin America or East Asia, for instance in Indonesia. To this analysis the author selected two countries from the region, both before the 1997 crisis, recording the impressive economic growth. During the crisis the governments of both countries decided to choose a completely different weapon to fight against the economic chaos. Jakarta, surprised by the economic collapse scale, which during its first phase had “hurt” the country, adopted the IMF recommendations almost indiscriminately. By contrast, Malaysian government adopted alternative strategy and implement own crisis management tools. They were based on e.g. capital control or an intensive role of the government in the reduction of socio-economic loses, which were aftermath of the crisis. The author based on works of many independent economists. It supposed to form the objective opinion about decisions made by particular governments. Additionally, to compare outlined thesis, author’s conclusions were based on economic data and indicators. The data illustrate the long term effects which were being caused by the crisis and reforms implemented by the particular countries governments. Conclusions that can be extrapolated from the presented paper, argue that Malaysia decision of taking own alternative way to fight against the economic breakdown was right. This can be clearly seen by comparing the 1997 crisis effects in Malaysia and Indonesia. Government in Jakarta, despite the financial and advisory support from IMF, was dealing worse during the economic collapse and after it. The results of the research indicate defeat of neoliberal ideas in the developing countries economy and the significant role of the government and effective institution in market mechanism optimization.
Źródło:
Ekonomia XXI Wieku; 2016, 1 (9); 65-79
2353-8929
Pojawia się w:
Ekonomia XXI Wieku
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The impact of off balance records on selected financial indicators of the cooperative bank assessment
Autorzy:
Kurasz, Arkadiusz
Powiązania:
https://bibliotekanauki.pl/articles/949772.pdf
Data publikacji:
2017
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
off-balance records
assessment of the financial situation
a cooperative bank
indicator
Opis:
Financial crisis, regardless of the geographical coverage, subjective or sector, can be assessed from the perspective of two most important elements initiated: damage (eg. the collapse of Lehman Brothers) and changes (regulating the balance of power in the financial markets). The analysis of indicators used in assessing the financial situation of the cooperative bank on the basis of the selected documents shows that there are areas in need of renovation. The purpose of this article is to propose changes to the design rate of effectiveness of the cooperative bank, expressed as the ratio of operating costs to income from banking operations (KDB/WNB). The developed solution will provide information about the real revenues and expenses related to the core business of cooperative banks and will enable the same objective assessment of the effectiveness in this area of activity. The research methods adopted in the article are based on studies of literature, review of legislation, analysis of financial statements of the cooperative bank and conclusions
Źródło:
Financial Sciences. Nauki o Finansach; 2017, 2(31); 52-65
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
On measuring the real value of production. Reflections on the economic order of the real world on occasion of the financial crisis
Autorzy:
Maier, Helmut
Powiązania:
https://bibliotekanauki.pl/articles/425004.pdf
Data publikacji:
2013
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
value theory
ecological
bio-physical
and philosophy of economics
Opis:
The article provides an answer in a new dimension to the very old question about the real value of production which has become up to date again after the financial crisis with its immense losses of securities and stocks. The answer includes the knowledge from the latest research on the existence of the economic order in the real equal natural world with energy as the means of payment. The results of a microeconomic approach within this natural order, based on observations and characteristics of marginal quantities within production processes, are described.
Źródło:
Econometrics. Ekonometria. Advances in Applied Data Analytics; 2013, 1(39); 162-183
1507-3866
Pojawia się w:
Econometrics. Ekonometria. Advances in Applied Data Analytics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Przebieg i skutki światowego kryzysu finansowego lat 2007-2011 oraz działania antykryzysowe w Polsce
Process and effects of the world financial crisis of the years 2007-2011 and anti-crisis actions in Poland
Autorzy:
Adamowicz,, Mieczysław
Adamowicz, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/581914.pdf
Data publikacji:
2018
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
kryzys finansowy
skutki kryzysu
działania antykryzysowe
financial crisis
effects of the crisis
anti-crisis action
Opis:
Przedmiotem pracy jest przedstawienie zarysu światowego kryzysu finansowego z lat 2007-2011, jego przebiegu, objawów i skutków na świecie i w Polsce. Opisano przyczyny i źródła kryzysu oraz działania naprawcze podejmowane przez rządy i instytucje finansowe. Praca jest oparta na literaturze problemu i przedmiotu badań oraz informacjach różnych krajowych i międzynarodowych instytucji finansowych i organizacji międzynarodowych. Kryzys finansowy w Polsce ujawnił się z opóźnieniem w stosunku do innych krajów wysoko rozwiniętych i przebiegał z mniejszą intensywnością. W działaniach antykryzysowych Polska dostosowała się do zaleceń Unii Europejskiej i Międzynarodowego Funduszu Walutowego. Działania rządu i banku centralnego w Polsce dotyczyły sfery instytucjonalnej, sposobu funkcjonowania i prowadzenia polityki finansowej oraz sfery realnej gospodarki, w tym zwłaszcza przedsiębiorstw, gospodarstw domowych i instytucji publicznych.
The subject of the work is to provide an overview of the global financial crisis in the years 2007-2011, its course, symptoms and effects in the world and in Poland. The work presents the causes and the sources of crisis as well as corrective measures taken by governments and financial institutions. The subject literature and information from different national and international financial institutions and organisations were used as a source of research materials and data for analysis. Financial crisis appeared in Poland with some delay and was less intensive than in other developed countries. Anti-crisis measures taken in Poland have complied with the recommendations of the European Union and the International Monetary Fund. The measures taken by the Polish central bank concerned the institutional sphere, the manner in which the financial policy worked and how it was pursued, as well as the real sphere of the economy, including especially enterprises, households and public institutions.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2018, 529; 11-27
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Wpływ systemowych zmian własnościowych na stabilność finansową polskiego sektora bankowego
Impact of systemic ownership changes on financial stability of the Polish banking sector
Autorzy:
Borsuk, Marcin
Kowalewski, Oskar
Powiązania:
https://bibliotekanauki.pl/articles/582907.pdf
Data publikacji:
2020
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
akcja kredytowa
struktura własności
kryzys finansowy
stabilność finansowa
credit growth
ownership structure
financial crisis
financial stability
Opis:
Zjawiska zaobserwowane podczas globalnego kryzysu finansowego potwierdziły, że struktura właścicielska oddziałuje na politykę poszczególnych grup banków. W świetle strukturalnych zmian zachodzących w polskim systemie bankowym głównym celem artykułu jest zbadanie wpływu struktury własnościowej na stabilność systemu bankowego w Polsce. Z punktu widzenia rozwoju teorii finansów kluczowe jest bowiem przeanalizowanie, w jaki sposób i w jakim stopniu obecność na rynku banków kontrolowanych przez Skarb Państwa niesie ryzyko dla stabilnego, zrównoważonego i efektywnego procesu pośrednictwa finansowego. Z przeprowadzonej analizy wynika, że jednym z wiodących determinantów wzrostu akcji kredytowej w okresach kryzysu jest typ własności banków, a aktywność kredytowa banków państwowych przejawia cechy antycykliczne.
The phenomena observed during the global financial crisis confirmed that the ownership structure impacts the operations and policies of individual groups of banks. In the light of structural changes taking place in the Polish banking system, the main purpose of the study is to examine the impact of the ownership structure on the stability of the banking system in Poland. From the point of view of the development of financial theory, it is crucial to examine how and to to what extent the presence of state-owned banks carries a risk for a stable, sustainable and effective financial intermediary process. It has been found that one of important determinants of credit growth in crisis periods is the ownership type of a bank, whereas credit activity of state-owned banks displays anti-cyclical characteristics.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2020, 64, 5; 18-31
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Wyświetlanie 1-15 z 18

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