JEL classification: M48, G34, G38 Grounded on literature review on risk disclosures and risk reporting practices, the paper aims to explore the extent and content of voluntary risk reporting practices of non-financial companies. Annual... more
JEL classification: M48, G34, G38 Grounded on literature review on risk disclosures and risk reporting practices, the paper aims to explore the extent and content of voluntary risk reporting practices of non-financial companies. Annual reports, focusing on several areas of concern of sampled public companies from three different sectors were subject to content analysis combined with morphology analysis. The results show that the extent of risk disclosure within non-financial risk exposure is broad and not connected with the sector, which is similar to findings within the cohesion of reported risk exposure with those provided in the so-called " top 10 risk " rankings. However, disclosures concerning risk management practices visibly differ among the analysed sectors. The paper contributes to the existing debate on the need and practice of risk reporting by providing insight into practices of non-financial companies operating in Poland as an emerging economy.
The financial crisis undoubtedly exerted much pressure on the companies operating inPoland. Thus, it is important to undertake researches that reveal the paths and strength of financial crisis transmission with regard to the business... more
The financial crisis undoubtedly exerted much pressure on the companies operating inPoland. Thus, it is important to undertake researches that reveal the paths and strength of financial crisis transmission with regard to the business entities. This paper presents partial results of the research dedicated to the analysis of the impact of financial crisis on the financial situation of companies operating in the Silesian Voivodship. It analyzes and discusses the general changes of the two sets of financial ratios that inform about the general financial condition of the business: the financial balance and the level of bankruptcy risk. Scientific aim: The paper aims at analyzing the changes of the financial situation and bankruptcy risk of a population of Silesian companies with regard to the improvement or deterioration. In particular, it aims at reflecting the differences visible with the application of aggregated data characterizing the population of Silesian companies as compared to ...
The paper presents a new online service, which provides an extensive support for financial analysis. The service is targeted at various groups of end-users, including small companies and their stakeholders, accountancy offices as well as... more
The paper presents a new online service, which provides an extensive support for financial analysis. The service is targeted at various groups of end-users, including small companies and their stakeholders, accountancy offices as well as financial advisors. The scope of the analysis involves five groups of financial ratios as well as percentage structure and dynamics analysis. The aim of the paper is to show the interdisciplinary and multidimensional nature of the service viewed from several different perspectives. The paper also aims at presenting certain programmatic solutions that we found useful and interesting while implementing this financial service.
Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to... more
Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is ...
Uzasadnienie teoretyczne: W artykule podjęto problematykę kształtowania relacji inwestorskich i polityki informacyjnej w zakresie informacji niezbędnych inwestorom w ocenie wartości przedsiębiorstwa. Ponadto zwrócono uwagę na różne... more
Uzasadnienie teoretyczne: W artykule podjęto problematykę kształtowania relacji inwestorskich i polityki informacyjnej w zakresie informacji niezbędnych inwestorom w ocenie wartości przedsiębiorstwa. Ponadto zwrócono uwagę na różne kategorie wartości przedsiębiorstwa i sposoby jej pomiaru. Uwzględniono również znaczenie informacji o koszcie kapitału i ryzyku dla prawidłowej oceny wartości przedsiębiorstwa.Cel artykułu: Identyfikacja kategorii wartości przedsiębiorstwa i dyskusyjnych problemów jej pomiaru w powiązaniu z kształtowaniem efektywnych relacji inwestorskich przedsiębiorstwa oraz wyznaczenie zakresu i treści informacji związanych z wartością przedsiębiorstwa, niezbędnych dla właściwych decyzji inwestorów z praktyczną weryfikacją przydatności informacji przekazywanych przez spółki (case study).Metody badawcze: Opracowanie ma charakter koncepcyjny – rozważania teoretyczne oparte na studiach literatury uzupełniono studium przypadku, w którym wykorzystano metodę analizy treści ...
The role of bonds in the corporate financial strategy is considered from the point of view of the issuer and investors. This results from the interactions of investment and financing decisions with regard to the level of acceptable risk.... more
The role of bonds in the corporate financial strategy is considered from the point of view of the issuer and investors. This results from the interactions of investment and financing decisions with regard to the level of acceptable risk. The issuer should consider the expectations of investors in order to define properly the terms and conditions of the issue. While investors will evaluate the elements that determine the profitability, risk and liquidity of this form of investment with regard to the structural changes in the company. This paper discusses the importance and potential application of the convertible bonds in the corporate financing decisions. The main aim of this paper is to analyze and evaluate the most important reasons and consequences of the issuance of convertible bonds and their role in the corporate financial strategy. This paper is based on the critical literature review on corporate bonds supported by the analysis of normative regulations and selected empirical...
