Organizacja i planowanie inwestycji w polskich przedsiębiorstwach w świetle badań empirycznych

• Autorzy: Zarzecki D. , Wiśniewski T.

Warianty tytułu

EN

Investment procedures in practice the evidence for polish enterprises

• Języki publikacji: PL

Abstrakty

EN

The objective of this study was to identify actual investment practice in Polish enterprises in comparison, firstly with the theoretical recommendations, and secondly with the findings of the previous surveys which had been carried out in developed countries, mainly in the UK and USA. This survey is probably one of the first, if not the first, "state of the art" surveys undertaken in Poland. The survey sample was drawn from the largest 173 firms of Szczecin Province measured by employment at the end of 3rd quarter 1994. Each sample firm was reviewed by means of questionnaire review, i.e. all firms were interviewed by interviewers directly at headquarters. A total of 126 responses were obtained, i.e. a response rate of 72,8 %. The main conclusions of this paper are as follows: 1.The investment practice situation in Poland is, to a great extent, conditioned byobjective factors, mainly such as: inheritance of the former economic system, lack of knowledge pertaining both to managers and to persons responsible for education ofmanagerial staff, exceptionally variable economic environment, poor political stability, problems in compiling data required in investment appraisal (no information centres). 2.Investment practice in Polish companies differs essentially from that in countries having stable market economy and from theoretical assumptions and recommendations. 3.Most Polish managers base their investment decisions on qualitative techniques (factors) of informal nature (not framed in company obligatory procedures). 4.Application of analytical techniques has been reported by over 2/3 of companies, however nearly every second company has been using generally criticised Payback period method. 5.A formalised financial appraisal of investment projects is carried out in every second firm reviewed. It means that some enterprises use analytical techniques in an informal manner. 6.Polish managers - particularly those running state owned companies - have not become accustomed to deal with investments in terms of outlays and returns. Only 25 % firms responded to the question about expected nominal rate of return, and most of them used nominal rates below the rate of inflation.

Słowa kluczowe

PL

inwestycje; planowanie inwestycji; przedsiębiorstwo

EN

investmens; enterprises

• Wydawca: Wydawnictwo Naukowe Uniwersytetu Szczecińskiego
• Czasopismo: Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński
• Rocznik: 1999
• Tom: Nr 37
• Strony: 217--238
• Opis fizyczny: bibliogr. 12 poz., rys., tab.

Twórcy

autor

Zarzecki D.

autor

Wiśniewski T.

• Uniwersytet Szczeciński, Wydział Nauk Ekonomicznych i Zarządzania, Instytut Ekonomiki i Organizacji Przedsiębiorstw, Zakład Inwestycji i Wyceny Przedsiębiorstw, ul. Mickiewicza 64, 71-101 Szczecin,