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Wyszukujesz frazę "corporate finance" wg kryterium: Temat


Tytuł:
Mezzanine as an Alternative Form of Corporate Financing
Autorzy:
Czajkowska, Agnieszka
Powiązania:
https://bibliotekanauki.pl/articles/488866.pdf
Data publikacji:
2015
Wydawca:
Instytut Badań Gospodarczych
Tematy:
Corporate Finance
Mezzanine Financing
Opis:
The main goal of the article is the assessment of mezzanine financing as an innovative form in Poland, which might play a significant role in the dynamically developing companies which can’t obtain sufficient capital from traditional sources in the form of bank credits. Mezzanine may be applied to: financing investment projects, increasing the value of the company, the expansion of businesses through mergers and acquisitions, redemption of shares or the financing of leveraged buyouts. The main methodology used in this article is explanatory research and comparative analysis. The hypothesis assumes that mezzanine financing may become an important alternative source of funding for medium and large sized enterprises in Poland. This article presents the idea of mezzanine financing, its mechanism, structures and comparison to alternative funding, examples of such transactions costs. An important part is indication of types of mezzanine capital and applications in the USA, the UE including Poland as well as comparative analysis of mezzanine advantages and disadvantages.
Źródło:
Oeconomia Copernicana; 2015, 6, 1; 99-111
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Behawioralne finanse przedsiębiorstw jako interdyscyplinarny nurt neoklasycznej teorii finansów
Behavioural corporate finance as an interdisciplinary strand of neoclassical finance theory
Autorzy:
Byczkowska, Magdalena
Majzel, Anna
Powiązania:
https://bibliotekanauki.pl/articles/1929250.pdf
Data publikacji:
2021-12-22
Wydawca:
Akademia im. Jakuba z Paradyża w Gorzowie Wielkopolskim
Tematy:
behavioural corporate finance
neoclassical finance
interdisciplinarity
Opis:
Nowadays, we see increasing interconnections between different scientific disciplines. It is becoming increasingly difficult for scholars to practice exclusively within their own field. Economics, finance and related disciplines, in recent years, have made extensive use of theoretical and empirical findings of other social sciences. The aim of this article is to present the issue of behavioural finance, the assumptions of which make it easier to understand what and why makes financial managers choose a particular course of action. Focusing on the tendencies of a psychological nature characteristic of managers that determine their specific behaviour, it is explained how the behaviour of finance professionals can be analysed through the prism of psychology. The article is based on the analysis of the literature on the subject, where the method of source analysis was mainly used.
Źródło:
Język. Religia. Tożsamość; 2021, 2(24) B; 143-153
2083-8964
2544-1701
Pojawia się w:
Język. Religia. Tożsamość
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Reflecting interdependencies between risk factors in corporate risk modeling using Monte Carlo simulation
Odzwierciedlanie współzależności pomiędzy czynnikami ryzyka w modelowaniu ryzyka działalności gospodarczej przedsiębiorstwa z wykorzystaniem symulacji Monte Carlo
Autorzy:
Kaczmarzyk, Jan
Powiązania:
https://bibliotekanauki.pl/articles/425266.pdf
Data publikacji:
2016
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
Corporate finance
Risk
Monte Carlo
Opis:
Modern enterprises use various spreadsheet financial models to project their financial situation as well as to address potential entrepreneurial activity risk exposure. The most advanced solution is provided by the Monte Carlo approach that offers much broader possibilities in terms of entrepreneurial risk measurement than in the case of traditional methods. One of the most significant problems of the Monte Carlo approach is to identify, quantify and reflect interdependencies between variables that are risk factors in any risk analysis. The aim of this paper is to discuss possibilities to identify and quantify interdependencies in terms of historical data availability as well as to present a spreadsheet solution that would reflect interdependencies in risk simulation and which would be easy to implement. The solution presented is not the only one available, but it does not require too much effort to be implemented in any financial model developed in the form of a spreadsheet, especially by the individuals responsible for risk management in small and medium sized enterprises.
Źródło:
Econometrics. Ekonometria. Advances in Applied Data Analytics; 2016, 2 (52); 98-107
1507-3866
Pojawia się w:
Econometrics. Ekonometria. Advances in Applied Data Analytics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Finanse przedsiębiorstw - swa typy podejścia
Corporate finance - two approaches
Autorzy:
Mizerka, Jacek
Powiązania:
https://bibliotekanauki.pl/articles/539862.pdf
Data publikacji:
2013
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
finanse przedsiębiorstw
podejście normatywne
podejście deskryptywne
paradygmat neoklasyczny
finanse empiryczne
corporate finance
normative approach to corporate finance
descriptive approach to corporate finance
Opis:
W artykule przedstawiono pokrótce charakterystykę normatywnego i deskryptywnego podejścia do uprawiania finansów przedsiębiorstw. Szczególną uwagę zwrócono na podejście deskryptywne, czyli finanse empiryczne, w związku z upowszechnieniem się technologii informacyjnych i dostępu do masowych danych finansowych. Dzięki finansom empirycznym dokonuje się coraz większy postęp, jeśli chodzi o weryfikację założeń i wniosków wypływających z koncepcji neoklasycznej. Badania empiryczne z zakresu finansów przedsiębiorstw wymagają jednak dobrego przygotowania z zakresu metod ekonometrycznych.
This paper presents an overview of the normative and descriptive approaches to corporate finance. Particular attention is paid to the descriptive approach, namely empirical finance, which is connected with the widespread use of information technology and access to a large volume of financial data. Through empirical financial analysis constant progress is being made as regards the verification of the assumptions and conclusions which stem from neoclassical concepts. However, empirical studies in the area of corporate finance require proper preparation in respect of such econometric methods.
Źródło:
Studia Oeconomica Posnaniensia; 2013, 1, 1(250)
2300-5254
Pojawia się w:
Studia Oeconomica Posnaniensia
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Wstęp do badań nad ujednoliceniem podstawy opodatkowania w Unii Europejskiej
Introduction to research to harmonize the tax base in the European Union
Autorzy:
Iwin-Garzyńska, Jolanta
Powiązania:
https://bibliotekanauki.pl/articles/424931.pdf
Data publikacji:
2015
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
income tax
tax base
corporate finance
Opis:
One of the main objectives to be accomplished by the European Union law is to eliminate barriers to the functioning of domestic market and in particular improve the competitiveness of enterprises. The paper addresses issues relating to tax in corporate finance. Canons of taxation are discussed and special emphasis is placed on principles behind formulating fiscal law provisions (including the EU law). Furthermore, the article presents the results of surveys into the importance of taxation cannons for Polish companies.
Źródło:
Econometrics. Ekonometria. Advances in Applied Data Analytics; 2015, 4 (50); 92-104
1507-3866
Pojawia się w:
Econometrics. Ekonometria. Advances in Applied Data Analytics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Trends in IPOs: The Evidence From Financial Markets
Autorzy:
Meluzín, Tomáš
Zinecker, Marek
Powiązania:
https://bibliotekanauki.pl/articles/517317.pdf
Data publikacji:
2013
Wydawca:
Instytut Badań Gospodarczych
Tematy:
Corporate Finance
IPO
Trends
Financial Markets
Opis:
This paper deals with the analysis of initial public offerings of shares in terms of their quantity and the amount of capital raised by this form of financing on the world markets. Relevant global developments will be analyzed first, followed by a description of regional situation. The analysis is based on secondary data which are processed by descriptive statistics methods. The analysis of IPO trends on the world markets indicates that, in the period of 2004-2007, IPO-based financing of corporate growth gained in importance on both developed and emerging markets. The IPO segment was dominated by the largest emerging markets (Brazil, Russia, India and China) and at the same time the US American and Western European markets decline in their importance. The world-wide economic crisis of 2008 sup-pressed the interest in new IPOs, particularly in the developed economies. As the economy of most countries is beginning to revive, the interest in the IPO approach from businesses and investors is on the rise. It can be expected that, in the next few years, the arena of initial public offerings will be dominated by visionary companies operating on emerging markets where the execution of an IPO will constitute the key element in securing the capital essential for further expansion.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2013, 8, 2; 45-63
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Several sets of assumptions for the Monte Carlo simulation for a more precise analysis of enterprise risk
Autorzy:
Kaczmarzyk, Jan
Powiązania:
https://bibliotekanauki.pl/articles/425026.pdf
Data publikacji:
2019
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
corporate finance
risk analysis
Monte Carlo simulation
Opis:
The traditional methods of risk quantification include a sensitivity analysis, a scenario analysis and a historical simulation. The true nature of risk factors changes is ignored in the traditional ‘ceteris paribus’ approach to a sensitivity analysis, hence it can be reflected in a scenario analysis and a historical simulation. The most significant disadvantage of a scenario analysis is the limited number of scenarios, whereas a historical simulation depends on historical data availability and adequacy. The Monte Carlo simulation is a clear answer to the limitations of traditional methods. The changes of risk factors reflected in the Monte Carlo simulation are simultaneous, non-linear and interdependent. The most important aspect of this method is the stage of taking up the assumptions. The purpose of the paper is to indicate that considering several reasonable sets of assumptions for the Monte Carlo simulation simultaneously can bring even more comprehensive information about enterprise risk.
Źródło:
Econometrics. Ekonometria. Advances in Applied Data Analytics; 2019, 23, 4; 80-95
1507-3866
Pojawia się w:
Econometrics. Ekonometria. Advances in Applied Data Analytics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
IS A FINANCIAL DIRECTOR A STRATEGIST OR A STEWARD? A COMPARATIVE ANALYSIS OF POLAND, THE US AND CHINA
Dyrektor finansowy – strateg czy administrator. Analiza porównawcza Polski, Stanów Zjednoczonych i Chin
Autorzy:
Wrońska-Bukalska, Elżbieta
Wawryszuk-Misztal, Anna
Powiązania:
https://bibliotekanauki.pl/articles/950455.pdf
Data publikacji:
2015
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial director
model of competence
corporate finance
Opis:
The article aims to present the role of the financial director in three different countries (Poland, China, and the US). The role of the financial director was defined by the Model of Competences covering two dimensions and four faces of the CFO. The literature and survey reviews let us think that nowadays the dominant role of the financial director is that of Strategist. The main research question was to find out whether the job of the CFO and his/her main role differs across these countries (Strategist and Catalyst will be dominant in the US, but in other countries Steward and Operator will be dominant). The choice of these countries was not a random one because they have a different history, corporate governance systems and culture. The method which reveals the CEO’s expectations towards the CFO’s duties was applied. The research consisted of a comparative analysis of job advertisements in these countries. The results of this research provide a new description of the CFO’s roles. In each country the main duty of the CFO was Steward (even in the US). In Poland, financial director as Strategist appeared more frequently (than in the other two countries) but was not dominant, either. The research study uses the Model of Competences, which allows to identify whether the CFO is really a strategic position. These findings have important implications for understanding the role of CFOs and their work.
Źródło:
Financial Sciences. Nauki o Finansach; 2015, 4(25); 122-134
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Agency costs of overvalued equity and earnings management in companies listed on WSE
Autorzy:
Kałdoński, Michał
Jewartowski, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/557811.pdf
Data publikacji:
2017-03-30
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
overvalued equity, earnings management, agency costs, agency theory, corporate finance, corporate governance
Opis:
The aim of the paper is to study earnings management activities of companies listed on Warsaw Stock Exchange from the perspective of Jensen’s agency theory of overvalued equity (Jensen, 2005). Specifically, we analyze relations between equity overvaluation and various types of earnings management used by public companies between 2005 and 2015. We provide evidence partially consistent with Jensen’s theory. Specifically, our study reveals that overvaluation intensifies income-increasing accrual earnings management activities. However, we also find that overvaluation is not followed by real transactions management activities, as opposed to previous studies based on the US market. We provide some evidence that this difference might be driven by external monitoring executed by large institutional investors.
Źródło:
Economics and Business Review; 2017, 3(17), 1
2392-1641
Pojawia się w:
Economics and Business Review
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Prospective financial analysis with regard to enterprise risk exposure – the advantages of the Monte Carlo method
Autorzy:
Kaczmarzyk, Jan
Powiązania:
https://bibliotekanauki.pl/articles/950239.pdf
Data publikacji:
2016
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
corporate finance
financial analysis
risk
Monte Carlo
forecasting
Opis:
Prospective financial analysis is a key decision tool in an enterprise. The traditional approach confronts the forecasted value of a financial category or a financial ratio with a requirement or a standard. Knowing that the particular category or the ratio meets the requirement or the standard is a kind of risk information, but realizing that the requirement or the standard is met with a particular probability level is a detailed image of risk. The aim of the paper is to indicate the possibility to increase the effectiveness of prospective financial analysis by using a Monte Carlo simulation. The biggest advantage of the presented approach (that is in fact the evolution of the traditional scenario approach to risk analysis) is that it delivers the detailed probability distributions of key financial categories and ratios. Shareholders accepting the results of prospective financial analysis with the Monte Carlo simulation should accept risk in a more conscious way than in the case of the traditional approach
Źródło:
Financial Sciences. Nauki o Finansach; 2016, 2(27); 23-37
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł

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