Temat: Financing structure - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: Determinants of the financing structure of the acquiring companies in the pre-merger period. Results of the research
Czynniki kształtujące strukturę kapitału w spółkach przejmujących w okresie poprzedzającym połączenie podmiotów gospodarczych
Autorzy:: Fałat-Kilijańska, Ilona
Gláserová, Jana
Luty, Piotr
Otavová, Milena
Powiązania:: https://bibliotekanauki.pl/articles/1395541.pdf
Data publikacji:: 2020
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:: M&A
financing structure
capital structure
struktura kapitału
finansowanie działalności goposdarczej
Opis:: The article’s main objective is to identify the factors influencing the financing structure and capital changes in the pre-merger periods in the acquiring companies. The authors examined the relations between various industries and different size companies. Based on the analyses, it can be concluded that in small companies, the explanatory variables identified based on the literature review were statistically insignificant in many periods (in fact almost all). Completely different behaviour was observed in the group of large companies, where the same set of explanatory variables was statistically significant. The result of the research on the existence of non-linear relationships between company parameters is that in the case of some variables, there is no question of a linear nature of dependence. The study analysed the five years preceding the mergers of 307 business entities. The source of the survey data was the database prepared by the company InfoCredit SA for the Accountants Association in Poland. The authors used Statistica software and inductive reasoning for the study – supported by Spearman’s rank correlation analysis, linear and polynomial regression analysis, and variable scatter analysis.
Podstawowe cele artykułu to identyfikacja czynników determinujących kształtowanie struktury finansowania oraz określenie ich zmian w okresach przed połączeniem w spółkach dokonujących przejęć. Badając strukturę finansowania, sprawdzono również, jakie relacje zachodzą w różnych sektorach aktywności gospodarczej. Udzielono odpowiedzi na pytania, czy i w jaki sposób wielkość spółek determinuje kształtowanie struktury kapitału. Analizą objęto pięć lat poprzedzających transakcje połączenia 307 jednostek gospodarczych. Źródłem danych badania była baza danych przygotowana przez spółkę InfoCredit SA na zlecenie Stowarzyszenia Księgowych w Polsce. W pracy wykorzystano oprogramowanie Statistica. Zastosowano wnioskowanie indukcyjne wsparte analizą korelacji rang Spearmana, analizą regresji liniowej i wielomianowej oraz analizą rozrzutu zmiennych.
Źródło:: Financial Sciences. Nauki o Finansach; 2020, 25, 4; 16-42
2080-5993
2449-9811
Pojawia się w:: Financial Sciences. Nauki o Finansach
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: The impact of low interest rates on the debt of polish listed companies
Autorzy:: Schmidt, Katarzyna
Powiązania:: https://bibliotekanauki.pl/articles/692595.pdf
Data publikacji:: 2019
Wydawca:: Uniwersytet Ekonomiczny w Poznaniu
Tematy:: interest rate
debt
financing structure of companies
polish listed companies
Polska
Opis:: Central bank decisions have an impact on the whole economy. Increasing or lowering interest rates as part of a specific policy determines not only changes in macroeconomic aggregates or decisions of financial entities, such as banks, but also has a significant impact on business decisions. Low interest rates, which have been maintained for several years, encourage reflection on the impact of interest rates on the financing structure of companies. The main objective of the research is to verify the relations between monetary policy, in particular low interest rates, and the level of indebtedness of Polish listed companies. The analysis showed that the level of total interest-bearing liabilities for the selected sample of companies remains in a clear upward trend, and interest rates – in a downward trend, excluding the increases in 2008 and 2012. The Pearson correlation for the variables in question should be considered strong, especially in the case of the relationship between long-term interest-bearing liabilities and interest rates. Considering the above, it should be noted that interest rates influence the level of indebtedness of companies, bearing in mind that this is a transmission channel of monetary policy, which operates with a time lag.
Źródło:: Research Papers in Economics and Finance; 2019, 3, 2; 7-16
2543-6430
Pojawia się w:: Research Papers in Economics and Finance
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: The financing structure of Polish non-financial enterprises in the face of financialisation challenges
Autorzy:: Rydzewska, Alina
Powiązania:: https://bibliotekanauki.pl/articles/1931605.pdf
Data publikacji:: 2020
Wydawca:: Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
Tematy:: financing structure
financialization
analysis of financial statements
struktura finansowania
finansjalizacja
analiza sprawozdań finansowych
Opis:: Purpose: The aim of this article was to examine whether financialization phenomena affected the financing structure of non-financial enterprises operating in Poland. Changes in the financing structure in the era of financialization are manifested by the growing share of debt (foreign capital), the increase in the importance of securities while reducing the share of credit as sources of financing business activities and the growing involvement of (passive) derivatives. Design/methodology/approach: The analysis was conducted on the basis of indicators identifying the share of foreign capital in total liabilities, the structure of passive financial instruments and the structure of passive derivatives. Findings: Based on the empirical analysis, it was found that the phenomenon of the financing structure of financialization is not noticeable on the example of the surveyed business entities. The share of foreign capital in total liabilities of enterprises in 2010-2018 was around 0.5. In the financial assessment, it is the optimal financing structure. Research limitations/implications: Financialization is a developing phenomenon. The presented research covered the years 2010-2018, therefore research on the discussed issue should be continued. Originality/value: The originality of the article is associated with the analysis of the increase in the importance of debt in financing operations in relation to enterprises in Poland, including by industry.
Źródło:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2020, 142; 263-272
1641-3466
Pojawia się w:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: Studies of firm capital structure determinants in Poland: an integrative review
Autorzy:: Cwynar, Andrzej
Cwynar, Wiktor
Dankiewicz, Robert
Powiązania:: https://bibliotekanauki.pl/articles/599576.pdf
Data publikacji:: 2015
Wydawca:: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:: capital structure
equity
debt
leverage
financing
Opis:: We investigated 34 empirical studies aimed at examining the capital structure determinants in firms operating in Poland to test to what degree the financing patterns were steady during the observed period (2001-2012). Specifically, in conducting the survey we were motivated by the following research questions which constitute the objectives of the article: (1) which factors – country- or firm-specific – are more relevant in explaining leverage in Poland, (2) which theory – trade-off or pecking order – gains greater support in Poland, and (3) what is the significance of the optimal capital structure notion in Poland. Our results show that financing patterns changed importantly during the last 20 years, which manifests itself mainly in gradual increase in debt ratios with a dominant role of short-term debt, along with the decrease in the importance of country-specific factors (especially in large-sized, listed firms). The signs of the associations between leverage and the key firm-specific factors remained relatively stable during the investigated period, with the exception concerning tangibility. These signs provide greater support for pecking order theory, with at most a moderate role of the target capital structure.
Źródło:: Finansowy Kwartalnik Internetowy e-Finanse; 2015, 11, 4; 1-22
1734-039X
Pojawia się w:: Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 5.

Tytuł:: Analysis of debt financing in Polish companies
Autorzy:: Kamela, Adrian Filip
Powiązania:: https://bibliotekanauki.pl/articles/18104634.pdf
Data publikacji:: 2021-12-28
Wydawca:: Szkoła Główna Handlowa w Warszawie. Kolegium Zarządzania i Finansów
Tematy:: debt financing
debt determinants
capital structure
corporate growth
Opis:: The aim of the research is to analyse various forms of debt financing used by Polish companies. Besides, issues related to corporate growth have been examined. The paper presents answers to the number of research questions and verifies the stated research hypotheses.The conducted empirical research has confirmed to a great extent the findings of previous analyses presented in the examined literature. The relation between entity size and debt financing use has been proved. The bigger a company is, the more often debt is used, and the wider variety of debt forms the company reaches for. The connection between debt financing used for investment purposes and the stage of the company’s life cycle has been shown as well. Recently. debt (mainly investment loans) has been used more frequently, especially for investments. The statement that joint-stock companies have better access to debt financing than companies with other legal forms should also be supported. Consequently, these types of firms use debt more often and choose its more complex forms. Another relation indicated in the research is the positive connection between debt use and the improvement in the general financial situation of the company within the last 3 years.
Źródło:: Journal of Management and Financial Sciences; 2021, 43; 21-37
1899-8968
Pojawia się w:: Journal of Management and Financial Sciences
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 6.

Tytuł:: The Impact of Financial Leverage on a Company’s Market Valuation
Autorzy:: Zimny, Artur
Powiązania:: https://bibliotekanauki.pl/articles/2121679.pdf
Data publikacji:: 2021-09-03
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:: financial leverage
capital structure
company financing
company valuation
Opis:: The purpose of the article is to examine the impact of leverage on the market valuation of companies. The article verifies two hypotheses: 1. the degree of leverage is an important factor that impacts the market valuation of companies; 2. for companies with a high level of leverage, the impact of this leverage on their valuation is negative, and for companies with a low level of leverage, the impact is positive. The methodology of the study includes a critical literature review and empirical research based on correlation and regression analysis, including univariate and multivariate regression. The analysis covered quarterly data of ten energy companies listed on the Warsaw Stock Exchange. An important component of the research was classifying those companies into several groups, depending on their level of debt ratio in relation to the industry median debt ratio. The results of the research: The literature review did not provide an unequivocal conclusion to the problem. The empirical analysis did not give grounds to reject the first hypothesis; however, the second one was rejected. The research showed positive correlation and regression coefficients between the debt ratio and the price to book value ratio for highly leveraged companies and negative ones for companies with a low level of debt. The results are surprisingly contrary to the expectations based on theoretical premises.
Źródło:: Finanse i Prawo Finansowe; 2021, Numer Specjalny; 199-214
2391-6478
2353-5601
Pojawia się w:: Finanse i Prawo Finansowe
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 7.

Tytuł:: The Impact of Financial Leverage on A Company’s Market Valuation
Autorzy:: Zimny, Artur
Powiązania:: https://bibliotekanauki.pl/articles/1022854.pdf
Data publikacji:: 2020-12-31
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:: financial leverage
capital structure
company financing
company valuation
Opis:: The purpose of the article is to examine the impact of leverage on the market valuation of companies. The article verifies two hypotheses: 1. the degree of leverage is an important factor that impacts the market valuation of companies; 2. for companies with a high level of leverage, the impact of this leverage on their valuation is negative, and for companies with a low level of leverage, the impact is positive.The methodology of the study includes a critical literature review and empirical research based on correlation and regression analysis, including univariate and multivariate regression. The analysis covered quarterly data of ten energy companies listed on the Warsaw Stock Exchange. An important component of the research was classifying those companies into several groups, depending on their level of debt ratio in relation to the industry median debt ratio.The results of the research: The literature review did not provide an unequivocal conclusion to the problem. The empirical analysis did not give grounds to reject the first hypothesis; however, the second one was rejected. The research showed positive correlation and regression coefficients between the debt ratio and the price to book value ratio for highly leveraged companies and negative ones for companies with a low level of debt. The results are surprisingly contrary to the expectations based on theoretical premises.
Źródło:: Finanse i Prawo Finansowe; 2020, 4, 28; 185-190
2391-6478
2353-5601
Pojawia się w:: Finanse i Prawo Finansowe
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 8.

Tytuł:: Capital structure of enterprises in the process of internationalization
Autorzy:: Różański, Jerzy
Bogołębska, Justyna
Powiązania:: https://bibliotekanauki.pl/articles/27313687.pdf
Data publikacji:: 2022
Wydawca:: Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
Tematy:: capital structure
internationalization
sources of financing
struktura kapitału
umiędzynarodowienie
źródła finansowania
Opis:: Purpose: The aim of the article is to define the capital structure in Polish enterprises – in the group of enterprises exporting their products and in the group of enterprises that do not conduct export activities. Design/methodology/approach: 30 companies representing various sectors of the economy were taken into account for the preliminary research. In the first group of 15 companies that exported their products (the first stage of internationalization), the capital structure was examined, determining the level of financing with equity and foreign capital. The research scheme from the first group was also used in the second examined group – enterprises that do not export their products. Each surveyed group included a company that represented one selected sector. A case study for three Polish listed companies was also used. Findings: Thus, the view of foreign authors based on the results of their study that, in emerging markets countries, companies that have internationalised their activities have higher levels of indebtedness than companies operating only domestically, should not be considered as confirmed (for the time being on the example of pilot studies). Originality/value: The results of the preliminary research made it possible to identify the most important differences in the capital structure for companies that exported their products and companies that did not export.
Źródło:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2022, 157; 417--430
1641-3466
Pojawia się w:: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 9.

Tytuł:: CHANGE OF THE ORGANISATIONAL AND LEGAL FORM OF INDEPENDENT PUBLIC HEALTHCARE CENTRES (SPZOZ) AND CONSEQUENCES FOR FINANCING HEALTHCARE ENTITY ACTIVITIES
Autorzy:: Skica, Tomasz
Wołowiec, Tomasz
Powiązania:: https://bibliotekanauki.pl/articles/599562.pdf
Data publikacji:: 2013
Wydawca:: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:: local government units
SPZOZs
healthcare system
health care financing
structure of medical service providers
Opis:: Local government units (LGU) are nowadays facing the very difficult and complicated task of making reasonable decisions regarding the transforming of SPZOZs into capital companies. First, it seems necessary to carry out a simulation of costs and advantages of the assumed models and solutions together with an analysis of advantages and disadvantages of the new legal and organisational forms. The aim of this paper is to assess whether the process of transforming SPZOZs into capital companies is purposeful and reasonable, and to define a way to prepare hospitals for functioning in an altered legislative environment. The paper draws attention to the fact that transformation itself does not guarantee that the results achieved by the given entity will automatically improve. The transformation can bring financial advantages for the newly created company and the local government, from the subsidies and remissions in accordance with art. 197 of the act on medical activity. Yet the conditions for getting such help are quite restrictive and not in every situation can financial help from the central budget be counted on. Such aid could help improve the financial standing of a hospital considerably. Also, it must be remembered that a hospital transformed into a capital company acquires the capacity to go bankrupt. If the new entity generates a loss, it may result in the owner having to raise the initial capital in order to avoid filing a bankruptcy petition by the company. In practice, the financial consequences for the local government are the same as in the case of having to cover losses. The difference lies in the continuity of the provided medical services.
Źródło:: Finansowy Kwartalnik Internetowy e-Finanse; 2013, 9, 2; 75-91
1734-039X
Pojawia się w:: Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 10.

Tytuł:: Financing environmental protection investments in Poland with particular regard to budgetary expenditure of rural communes
Autorzy:: Hyski, M.
Powiązania:: https://bibliotekanauki.pl/articles/59748.pdf
Data publikacji:: 2011
Wydawca:: Polska Akademia Nauk. Stowarzyszenie Infrastruktura i Ekologia Terenów Wiejskich PAN
Tematy:: environmental investment
rural commune
budgetary expenditure
real effect
investment
environment protection
financing investment
Polska
fund source
expenditure structure
spatial structure
commune budget
budget
rural area
Opis:: The article aims at identification and assessment of the extent to which rural communes in Poland participate in financing environmental protection investments. Investments in the natural environment protection are the subject of the paper. The analysis addresses particularly the issue of their financing, especially funding from budgetary means of rural communes with regard to territorial division into provinces. Secondary sources of information for the years 2004-2009 were used in the investigations. Among the sources of funding for environmental protection investments, the most important are own means covering almost half of the outlays on fixed assets for the natural environmental protection. Expenses from communes' budgets are of marginal importance for the structure of environmental protection funding. Communes' investment expenditure focuses almost exclusively on wastewater management, water protection and waste management. Rural communes financed 20.3% of the total environmental investment outlays realized by all communes. Environmental protection (together with public utilities) are on the second position among the investment objectives of rural communes. The largest scale of investment expenditure on the environmental protection in 2009 was registered in the Podkarpackie province, where rural communes financed about 20% of investment outlays in this field made by all rural communes in Poland total.Tangible effects of the realized environmental investments financed from rural communes' budgets in 2009 in Poland are diversified spatially. Considering investments in wastewater management, three provinces (Podkarpackie, Małopolskie and Mazowieckie) realized investments such as collective sewer system constituting almost half of the total length of such investments realized in 2009 in rural areas. Similar situation was observed for the length of house sewers and collective wastewater treatment plants. It was the same also in case of individual wastewater treatment plants of which half of the whole number commissioned for use in Poland was located in the areas of four provinces: Kujawsko-Pomorskie, Lubelskie, Mazowieckie and Wielkopolskie.
Źródło:: Infrastruktura i Ekologia Terenów Wiejskich; 2011, 12
1732-5587
Pojawia się w:: Infrastruktura i Ekologia Terenów Wiejskich
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 11.

Tytuł:: The role of small and medium enterprises in economic development - The case of Kosovo
Autorzy:: Thaçi, Lumnije
Powiązania:: https://bibliotekanauki.pl/articles/1035856.pdf
Data publikacji:: 2012
Wydawca:: Academicus. International Scientific Journal publishing house
Tematy:: Structure and size of small and medium enterprises
employment
economic growth
legal provisions
the informal economy
human resources
the issue of financing
taxes
Opis:: During the last fifteen years, significant SME sector was established in Kosovo. A greater dynamic regarding to the registration of new businesses can be encountered in the first three years of 1990’s and in the postwar period that can be considered as reflection of the changing business environment in the respective periods. Private enterprises in Kosovo are established since 1989. But the intensity of registration of SMEs grew separately after 1990 and continued until 1995.At this time companies were mainly organized in the form of households, the crafts, commercial enterprises, small shops, restaurants and agricultural enterprises.The establishment of these enterprises has not been the result of enabling business environment, but it came from the need to create jobs to people whose jobs were terminated form the social enterprises. In Kosovo during the last decade, a valuavle experience was achieved by increasing and development of of private enterprises, small and medium enterprises. Despite the achieved success, private enterprises constantly complain about the difficulties that they encounter when developing their business activities but as an example in Kosovo’s SME we do stil face with higher interest rates when taking loans.Likewise, these private enterprises in the country are still not well enough stimulated due to application of overwhelmed laws. Therefore it is needed a new inventory of legislative developments, but also should be requested the evaluation for the implementation of new legislation.This paper aims to reflect the role of small and medium enterprises in the post war Kosovo in economic development, increase of employment and alleviate poverty, obstacles that they encounter during their establishment and development which affect barrier not to develop entrepreneurship development innovation skills, etc, also some advantages that they assist their funcioning…
Źródło:: Academicus International Scientific Journal; 2012, 05; 60-69
2079-3715
2309-1088
Pojawia się w:: Academicus International Scientific Journal
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 12.

Tytuł:: Building an optimal capital structure of start‑ups
Budowanie optymalnej struktury kapitału w firmach typu start‑up
Autorzy:: Burżacka, Monika
Powiązania:: https://bibliotekanauki.pl/articles/684541.pdf
Data publikacji:: 2017
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:: struktura kapitałowa
specyfika aktywów
zdolność informacyjna
finansowanie start‑upów
teoria hierarchii źródeł finansowania
capital structure
asset specificity
information capacity
startup financing
pecking order theory
Opis:: Skuteczne zarządzanie finansami i optymalna struktura kapitału są ważne dla firm – pozwalają bowiem uzyskiwać lepsze wyniki operacyjne. Celem artykułu jest zbadanie najważniejszych czynników warunkujących wybór struktury kapitałowej firmy. Błędna decyzja o doborze struktury kapitału może prowadzić do finansowej utraty równowagi, a w konsekwencji nawet do bankructwa. Istnieje wiele teorii wskazujących na metody budowy optymalnych struktur kapitałowych, które mogą jednak okazać się niewystarczające. Nie są dostępne badania jednoznacznie wskazujące kanon uwarunkowań determinujących wybór konkretnego rozwiązania w zakresie struktury finansowej firm, zwłaszcza tych określanych mianem firm start‑upowych (startowych). Wynika to bezpośrednio z ich specyfiki i często z konieczności stosowania niestandardowych i niekonwencjonalnych metod zarządzania. Niemniej jednak, jak wskazują Abdulsaleh i Worthington, menedżerowie często decydują się na zastosowanie struktury kapitałowej już sprawdzonej przez innych uczestników danego rynku.
Effective financial management and optimal capital structure are important for companies to obtain better operational performance. The purpose of this study is the review of the most important theories in terms of optimal financial structure and to explore the most important factors affecting decisions in that area. A bad decision about the capital structure may lead to financial lack of balance and even to bankruptcy. There are many alternative theories on how to build optimal capital structures, which, as indicated by practice, may occur to be insufficient. There is no significant studies that clearly indicate the determinants of a particular solution in the financial structure of companies, especially those referred to as startup companies, mainly because of specifics of that group of companies. It is not possible to indicate which of the leading approaches to the capital structure more fully describes the decisions of start‑ups as to the financing structure. Nevertheless, the results indicate that managers of companies often include similar decisions competitors and modulate the policy of his company within the capital structure for a particular, market standard, which is confirmed by Abdulsaleh and Worthington.
Źródło:: Gospodarka w Praktyce i Teorii; 2017, 48, 3
1429-3730
2450-095X
Pojawia się w:: Gospodarka w Praktyce i Teorii
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 13.

Tytuł:: Impact of Capital Structure on the Company’s Financial Situation during the Pandemic – Analysis Based on Examples of Listed Companies
Wpływ struktury kapitału na kondycję finansową przedsiębiorstw podczas pandemii na przykładzie spółek giełdowych
Autorzy:: Jasiniak, Magdalena
Rudzki, Mateusz
Powiązania:: https://bibliotekanauki.pl/articles/35548953.pdf
Data publikacji:: 2023
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:: strategie finansowania
struktura kapitału
analiza finansowa
modele dyskryminacyjne
pandemia COVID-19
płynność
rentowność
financing strategies
capital structure
financial analysis
discriminant models
COVID-19 pandemic
liquidity
profitability
Opis:: Under the conditions of increased uncertainty making right financial decisions can determine success or failure of every company. Maintaining financial liquidity is especially important during impactful economic fluctuations when the risk of bankruptcy rises significantly. The purpose of the article is to evaluate the impact of financing strategies on economic situation of companies during the pandemic as well as to verify whether safe strategy can be a reliable measure of protection from the danger of bankruptcy. Methodology. Empirical research has been based on the analysis of 30 commercial sector companies’ financial statements from 2018 to 2020. The research has been completed with discriminant analysis models, and in order to receive clear interpretation of results a new indicator has been created. The indicator shows effectiveness of financing strategies as protection from negative results of the pandemic. Results of the research prove that under the conditions of strong and rapid economic changes a conservative strategy is a relatively safer strategy than moderate and aggressive ones, yet, it does not guarantee full protection from bankruptcy. Additionally, moderately higher risk of financing allows to increase liquidity and profitability even during the pandemic which was also indicated in the research.
W warunkach zwiększonej niepewności, podejmowanie trafnych decyzji finansowych może przesądzić o sukcesie lub porażce każdego przedsiębiorstwa. Utrzymanie płynności finansowej jest szczególnie istotne w okresie silnych zmian gospodarczych, gdzie ryzyko zagrożenia upadłością znacząco wzrasta. Celem artykułu jest ocena wpływu strategii finansowania na sytuację ekonomiczną przedsiębiorstw w czasie pandemii oraz weryfikacja czy bezpieczna strategia finansowania może stanowić ochronę przedsiębiorstwa przed zagrożeniem upadłością. Metodologia. Badania empiryczne zostały oparte na analizie sprawozdań finansowych 30 przedsiębiorstw należących do sektora handlowego w latach 2018-2020. Badanie uzupełniono analizą z wykorzystaniem modeli dyskryminacyjnych, natomiast w celu ułatwienia interpretacji wyników, stworzono wskaźnik określający efektywność strategii finansowania w ochronie przed negatywnymi skutkami pandemii. Wyniki badania wskazują, że w warunkach silnych i nagłych zmian gospodarczych, strategia konserwatywna jest relatywnie bezpieczniejszą strategią finansowania, jednak nie gwarantuje ona ochrony przed zagrożeniem upadłością. Wskazano również, że umiarkowanie większe ryzyko finansowania pozwala zwiększyć płynność i rentowność nawet w okresie pandemii.
Źródło:: Finanse i Prawo Finansowe; 2023, 3, 39; 15-29
2391-6478
2353-5601
Pojawia się w:: Finanse i Prawo Finansowe
Dostawca treści:: Biblioteka Nauki

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Tytuł:: EXPERIENCE OF TRANSFORMATION OF NATIONAL INNOVATION SYSTEMS IN DEVELOPED COUNTRIES AND DIRECTIONS OF ITS USE IN GEORGIA
DOŚWIADCZENIA TRANSFORMACJI KRAJOWYCH SYSTEMÓW INNOWACYJNYCH W KRAJACH ROZWINIETYCH I KIERUNKACH ICH WYKORZYSTANIA W GRUZJI
ОПЫТ ТРАНСФОРМАЦИИ НАЦИОНАЛЬНЫХ ИННОВАЦИОННЫХ СИСТЕМ В РАЗВИТЫХ СТРАНАХ И НАПРАВЛЕНИЯ ЕГО ИСПОЛЬЗОВАНИЯ В ГРУЗИИ
Autorzy:: Burduli, Vakhtang
Abesadze, Ramaz
Powiązania:: https://bibliotekanauki.pl/articles/576790.pdf
Data publikacji:: 2017-09-18
Wydawca:: Międzynarodowy Instytut Innowacji Nauka – Edukacja – Rozwój w Warszawie
Tematy:: national innovation system, components of NIS structure, technology transfer, innovation financing, regional clusters, forms of borrowing new technologies
krajowy system innowacji, elementy struktury NIS, transfer technologii, finansowanie innnowacji, regionalne klastry innowacyjności, formy komercjalizacji nowych technologii
национальная инновационная система, компоненты структуры НИС, трансфер технологий, финансирование инновационной деятельности, региональные кластеры, формы заимствования новых технологий
Opis:: Artykuł analizuje i usystematyzuje główne kierunki zmian krajowych systemów innowacji (NIS) w niektórych krajach rozwiniętych. Przedstawiono główne aspekty do- świadczenia w zakresie rozwoju NIS na przykładzie Francji i Korei Południowej. Na podstawie analizy i ustrukturyzowania mechanizmów zapewniających innowacyjny rozwój tych krajów, proponuje się stosować i wdrażać różne rozwiązania innowacyjne stosowane w tych krajach, co może w konsekwencji zapewnić skuteczny innowacyjny rozwój gospodarki w Gruzji.
The article analyzes and systematizes the main trends in the transformation of national innovation systems (NIS) in some developed countries. The main aspects of the NIS development experience in France and South Korea are revealed. Based on the study and structuring of the mechanisms that ensure the innovative development of these countries, it is proposed to borrow and engage in Georgia a number of components of the economic mechanism used in these countries, which will ensure the effective innovative development of its economy.
В статье проанализированы и систематизированы основные тенденции трансформации национальных инновационных систем (НИС) в некоторых развитых странах. Выявлены основные аспекты опыта развития НИС во Франции и Южной Корее. На основе изучения и структурирования механизмов, обеспечивающих инновационное развитие этих стран, предлагается заимствование и задействование в Грузии ряда используемых в этих странах компонентов экономического механизма, что позволит обеспечить эффективное инновационное развитие его экономики.
Źródło:: International Journal of New Economics and Social Sciences; 2017, 5(1); 301-311
2450-2146
2451-1064
Pojawia się w:: International Journal of New Economics and Social Sciences
Dostawca treści:: Biblioteka Nauki

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