Temat: Strategy - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: Capital structure of polish joint stock companies in the process of internationalization
Autorzy:: Bogołębska, Justyna
Powiązania:: https://bibliotekanauki.pl/articles/27313313.pdf
Data publikacji:: 2023
Wydawca:: Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
Tematy:: internationalization
finance strategy
capital structure
umiędzynarodowienie
strategia finansowania
struktura kapitału
Opis:: Purpose: In the scientific literature in Poland, but also in the world, there is a lack of publications defining the relationship occurring between the internationalization of the enterprise and the structure of financing. Therefore, the extent to which the various stages of internationalization of the enterprise defined according to the literature affect the capital structure was examined. It was investigated whether the sector of the business has an impact on the occurrence or non-occurrence of these relationships. Design/methodology/approach: To investigate this, the ratios of internationalization of sales and the share of debt in total company financing were compared, and Lillefors and Fisher- Snedecor statistical tests were applied to 44 construction industry companies listed on the Warsaw Stock Exchange. The results of the research were compared with the results of studies previously conducted at home and abroad. Findings: It was shown that a statistically significant relationship between internationalization and changes in capital structure was found in the sector. It was found that the peculiarities of the construction sector indicate the high capital intensity of the internationalization process of these companies and the high dependence of the internationalization process and the formation of the capital structure of this process. Originality/value: The lack of research in this area demonstrates its originality. It has been shown in pilot studies conducted before the stage of target research for the following article that the specifics of the sector determine the dependence on the capital structure or the complete absence of this dependence.
Źródło:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2023, 169; 145--156
1641-3466
Pojawia się w:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: The policy (strategy) of financing Polish joint stock companies, in the context of their internationalization
Autorzy:: Różański, Jerzy
Powiązania:: https://bibliotekanauki.pl/articles/27313417.pdf
Data publikacji:: 2023
Wydawca:: Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
Tematy:: internationalization
finance strategy
capital structure
umiędzynarodowienie
strategia finansowania
struktura kapitału
Opis:: Purpose: In the scientific literature in Poland, but also in the world, there is a lack of publications defining the relationship occurring between the internationalization of the enterprise and its financing strategy, most fully reflected in the capital structure. The point, therefore, is to examine to what extent the various stages of internationalization of the enterprise (export, establishment of subsidiaries, acquisition of enterprises in countries hosting foreign investors) affect the capital structure. It was also necessary to examine whether the sector of the business has an impact on the presence, or non-occurrence, of these relationships. Design/methodology/approach: To investigate this, the ratios of internationalization of sales and the share of debt in total company financing were compared, and Lillefors and Fisher- Snedecor statistical tests were applied to 28 apparel companies listed on the Warsaw Stock Exchange. At the same time, a case study of the LPP group, the largest apparel company in Poland, was developed to determine why the apparel sector was found to lack such relationships. The results of the study were compared with the results of research previously conducted at home and abroad. Findings: It was shown that in the apparel sector, no statistically significant relationship was found between internationalization and changes in capital structure. It was found, using the example of LPP, that the foreign expansion of Polish companies in the apparel industry is increasingly associated with the use of online sales, which does not result in an increase in costs that could cause an increasing need for foreign capital. However, it also does not result in a reduction in the size of financing, as a study of Malaysian companies would suggest. Originality/value: The lack of research in this area indicates its originality. At the same time, the already conducted and further intended research will make it possible to estimate how the demand for capital will or will not change in enterprises depending on the sector of enterprise activity. After all, studies conducted in the construction sector have shown a far-reaching dependence, which, however, is not the content of the presented study.
Źródło:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2023, 169; 623--636
1641-3466
Pojawia się w:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: Czy ekobiznes się opłaca? Finansowa charakterystyka przedsiębiorstw proekologicznych
Is eco-business profitable? The financial characteristics of green companies
Autorzy:: Kuna-Marszałek, Anetta
Marszałek, Jakub
Powiązania:: https://bibliotekanauki.pl/articles/595994.pdf
Data publikacji:: 2012
Wydawca:: Łódzkie Towarzystwo Naukowe
Tematy:: ekobiznes
przedsiębiorstwa proekologiczne
strategia finansowania
eco-business
environmental companies
the financing strategy
Opis:: The purpose of this article is the financial characteristics of companies in the industry of waste management and remediation services. The choice of this sector results from its specificity. The sector is mainly dominated by private companies providing its services to the state or municipal entities, whose activities are often the only incentives for growth. The public sector, as the main recipient of those services, may pursue specific economic policy and seek to limit the concentration of supply of services using qualification procedures. On the one hand, such actions may support the small local companies, but on the other hand can be a significant barrier to business growth. The specific features of the industry determine the behavior of firms in the areas of financing and investment decisions. They have a significant impact on revenues and profits can be achieved and they may specify the financing strategy. What are the companies from this sector? How do they finance their activities? What is their profitability in such specific market conditions? The goal of the article is answer to these questions.
Źródło:: Studia Prawno-Ekonomiczne; 2012, LXXXV (85); 273-286
0081-6841
Pojawia się w:: Studia Prawno-Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: Employing Metrics of Effectiveness in the Capital Structure Management of an Enterprise
Wykorzystanie mierników efektywności do zarządzania strukturą kapitału w przedsiębiorstwie
Autorzy:: WIEPROW, Joanna
Powiązania:: https://bibliotekanauki.pl/articles/435366.pdf
Data publikacji:: 2017-12-31
Wydawca:: Uniwersytet Opolski
Tematy:: capital structure
enterprise effectiveness
effectiveness metrics
finance strategy
struktura kapitału
efektywność przedsiębiorstwa
mierniki efektywności
strategia finansowania
Opis:: Effectiveness metrics can be employed in the management of capital structure in an enterprise understood as a relationship between equity and liabilities on which interest is paid. In using the measures, it is possible to analyze and evaluate capital structure, and also to strive for its optimization. An optimal capital structure reduces the weighted average cost of capital, thus affecting the increase in the enterprise value. Determining capital structure is one of the elements involved in the finance strategy employed in an enterprise. The measures relating to capital structure that are most frequently applied include: measures based on the criterion of the value of equity, capital structure indicator, degree of financial leverage, return on equity and weighted average cost of capital. The paper’s objective is to determine the relevance of effectiveness measures in the capital structure-shaping process. It is written drawing on specialist literature covering the topics discussed. Moreover, an analysis, in the form of a case study, is conducted with regard to selected enterprise effectiveness measures relating to determining capital structure. The said analysis is conducted based on the consolidated financial statement of Ursus S.A., a joint stock company, over the period of 2014-2016.
Mierniki efektywności mogą zostać wykorzystane do zarządzania strukturą kapitału w przedsiębiorstwie, rozumianą jako relację pomiędzy kapitałem własnym a zobowiązaniami, od których płacone są odsetki. Dzięki ich zastosowaniu można dokonać analizy i oceny struktury kapitału a także dążyć do jej optymalizacji. Optymalna struktura kapitału minimalizuje średni ważony koszt kapitału, a tym samym wpływa na wzrost wartości przedsiębiorstwa. Kształtowanie struktury kapitału jest jednym z elementów strategii finansowania w przedsiębiorstwie. Najczęściej stosowane mierniki, związane ze strukturą kapitału to: wskaźniki oparte na kryterium wartości kapitałów, wskaźnik struktury kapitału, stopień dźwigni finansowej, rentowność kapitałów własnych oraz średnioważony koszt kapitału. Celem artykułu jest określenie znaczenia mierników efektywności w procesie kształtowania struktury kapitału przedsiębiorstwa. Artykuł został napisany w oparciu o literaturę fachową z zakresu omawianych zagadnień. Ponadto została dokonana analiza wybranych mierników efektywności przedsiębiorstwa, związanych z kształtowaniem struktury kapitału, przedstawiona w formie studium przypadku. Powyższa analiza została przeprowadzona na podstawie skonsolidowanego rocznego sprawozdania finansowego spółki Ursus S.A. w latach 2014-2016.
Źródło:: Economic and Environmental Studies; 2017, 17, 44; 969-984
1642-2597
2081-8319
Pojawia się w:: Economic and Environmental Studies
Dostawca treści:: Biblioteka Nauki

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