Wyniki wyszukiwania - BazTech

1

Standard wartości na potrzeby wyceny przedsiębiorstw

Zarzecki D.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2007

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Nr 49

277-290

EN

This article shows the main forms of market structures in the global economy. In early years of the United States, a monopoly usually meant an organization to which the government had granted some exclusive privilege. The monopolist was thus the sole legal seller. Competition is a process in which competitors engage. We cannot have competition without competitors. It does not seem as obvious to people that we also cannot have competition if we prohibit competitors from taking actions intended to increase their share of the market. So there is a very important for enterprises to know the type and the scale of the market structures.

2

Ekonometryczna analiza czynników wpływających na wzrost wartości przedsiębiorstwa

Urbańczyk E., Batog B., Batog J.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2006

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Nr 48, t. 1

489-497

EN

The aim of the paper is the identification of factors which into the essential manner bear on the increase in value of firms in Polish economic conditions. The value of firm is represented by the difference between a rate of return from the equity capital and a minimum rate of return expected by owners, represented by the cost of the equity capital - so-called spread, that is to say over the average rate of return from the book-keeper of the value of the equity capital. Analyzed data referred to 393 companies of the Treasure of State and proceeded from years 2002-2004. In the model with endogenous variable spread one made allowance for 15 potential explanatory variables. Because of the great number of potential explanatory variables, at final choice of explanatory variable backward and forward stepwise regression methods were used. After the use of these procedures one received in every year 3 explanatory variables. Estimated models were characterized with the high adjustment and statistically significant parameters. In every year appeared as explanatory variable return of assets, in two years appeared inventory turnover and also the capital multiplier. So the final conclusion is that these variables have the greatest influence on the creation of value of Polish firms.

3

Źródła tworzenia wartości przedsiebiorstw górniczych

Kustra A., Kowal D.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

601-610

PL

W referacie przedstawione zostały źródła tworzenia wartości przedsiębiorstw górniczych z uwzględnieniem specyfiki ich działalności. Jednocześnie autorzy zwrócili szczególną uwagę na źródła pozafinansowe, które w przypadku branży górniczej mają istotne znaczenie w procesie budowania wartości. Wnioski zostały poparte badaniami przeprowadzonymi przez firmę PricewaterhouseCoopers, które potwierdziły różnice w identyfikacji źródeł wartości w branży przy równoczesnej konieczności poprawy form dialogu między zakładami górniczymi a rynkami finansowymi. Zlikwidowanie powstałej luki informacyjnej jest możliwe przy znacznym pogłębieniu zakresu danych prezentowanych przez branżę górniczą w ramach sprawozdawczości zewnętrznej.

EN

The paper explores how the value of mining companies is created, taking into account the specificity of their operations. The authors focus on non-financial aspects, which prove to be of primary importance in valuation of mining companies. The conclusions are supported by the results of studies conducted by the PricewaterhouseCoopers company which confirm the differences in the perception of company's value, at the same time highlighting the need to improve the communication between the mining sector and financial markets. The existing information gap can be effectively eliminated when the scope data reported by the mining companies in the external reporting format is extended accordingly.

4

Znaczenie informacji w procesie kreowania wartości przedsiębiorstwa

Urbańczyk E., Szczęsna A.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 2

1135-1143

EN

For today's economy, information is a factor that affects the company's value as much as traditional production factors: capital, or labour. Next to land, labour and capital, information is considered the fourth production factor, performing various functions, dependent on its use, management level, managers' foresight and activity, and the complexity of the activity's results. Greater value of information results from more intense competition on all the levels and dimensions of business activity. The market economy is characterized by a constant process of interplay between the supply and demand created by market players, hence a great demand for clear, synthetic and relatively comparable information. The economic situation of the company, as well as the conditions specific for the industry also affect the company's results. To maximize the economic effect of the information, the companies should develop fast-reaction systems supported by computer science, which would reduce the gap between the tasks. The information is gathered usually in the environment, hence it is of great importance to realise that not all the company's information needs are rational, and that their full satisfaction leads to an enormous increase in real costs of its acquisition. It is also significant to distinguish between the needs related to decision-making, and the information needs themselves.

5

Zasoby niematerialne a wartość firmy

Pietruszka-Oryl A.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

123-138

EN

In the article, knowledge economy general rules in running contemporary firms are presented. The importance of the Twenty-First Century organization's intangible resources in gaining competitive advantage is pointed out. There is no common accepted definition and classification of intangibles in the literature, therefore several definitions and different divisions are compared. Basic tasks of The New-Century enterprise are indicated by putting forward intangible's resources characteristics.

6

Zasoby ludzkie a wartość przedsiębiorstwa

Ciuła Sz.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 2

1153-1161

EN

Recently, in the age of continuing technical and technological growth, the role and importance of a human beeing and his potential has been more and more often seen as a source of market competition strength of a company. Knowledge, experience, information and intellectual property is a non-material capital that can and should be used for creation of a company substantial value. Thus, it is not marginal to hire a good employee. To achieve this, a well-prepared recruitment process, either external or internal, is of great importance. External recruitment process should be applied by those companies where there is not a suitable person who can effectively complete the task; also it is justified when a company is growing and need more employees to hire. The other type of recruitment process (internal) is used in such cases when we do not need new people but wish to choose a proper person for a specified position from among now-employed ones. Motivation i also an important factor of growth of a company value. There are two types of motivation: material (=financial) such as periodical bonus, additional remuneration, partial reimbursement of cost of scocial services, etc. and non-material such as understanding of the company mission, tasks, strategies and results by its staff, as well as estimation of results: level of customers' satisfaction, goodwill, mentoring, coaching, schooling programme, staff suggestion system, etc. This work, in its final part, gives information on possible methods of measurement and estimation of human capital. Among others, a concept of seeing human capital as a company asset, as well as an ideas based on cost calculation of employees behaviour and personal-career programmes are presented.

7

Wycena wartości przedsiębiorstwa wirtualnego na przykładzie internetowego portalu turystycznego

Matczewski A., Kądziela S.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

93-107

EN

Computer networks have formed marketspace which is very attractive for many firms. The networks created new quality for the relationships between net's participants, particularly for business contract's partners (B2B - Business to Business), for individual customers (B2C- Business to Customers) and for companies' employees (B2E Business to Employee). It was the main cause for an arising of the electronic markets in all the branches in the nineties of the XX century. The electronic markets, based on the mentioned relations, created so-called e-business. A lot of new companies, called virtual, were founded. This situation progress in the area of the widely-understood e-business requires a new approach to the evaluation and management of the virtual enterprises' value. This requirement was also confirmed by the spectacular revaluation of high-technology companies that took place on the world markets at the end of the year 2000. The abstract presents the draft of a methodical suggestion for the evaluation of a touristic portal's value on the example of TRAVELNET.PL. The present study is an attempt to define the essence of the value evaluation of the firm operating in the area of the internet touristic services. In this type of activity, the problems of value sources of two essential areas in present economy are brought together: the area of the developing e-business and the area of the traditional touristic services which is sold in the new shape of the internet services. The abstract also introduces the main questions concerning the specific of the enterprise operating on the internet touristic services market and it describes the general methodology of evaluation of an enterprise's value. At the same time it constitutes basis for the discussion about the value sources of the touristic enterprises in Internet.

8

Wybrane teorie struktury kapitału w kształtowaniu wartości przedsiębiorstwa

Szczęsna-Urbaniak A.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 42

239-249

EN

Corporate capital choices are affected by number of different factors. No unified theory of capital structure has been developed up to now. However, current explanations of corporate financial policy may be grouped into three main categories: taxes, agency costs and information costs. A search for optimal capital structure is aimed at: maximizing tax advantage of debt and reduction of agency costs and information costs resulting from corporate debt choices, All financial decisions should led to increasing company's market value.

9

Wpływ kosztu kapitału na wartość przedsiębiorstwa

Dudycz T.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

247-256

EN

The article discussed the part of the cost of the capital in the process of the firm value creating and practical implications his valutions was introduced.

10

Wplyw zarządzania wiedzą na wzrost wartości przedsiębiorstwa

Grudzewski W. M., Hejduk I. K.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

509-531

EN

It's essential for the development of the company based Ofl the intellectual capital to have a process of constant knowledge promotion, among entrepreneurs, public institutions, either central and local government. Using knowledge depends on the benefits it brings in. This depends also on employees education qualifications and skills. Basing on the performed analyses we can state that among four analyzed elements, the innovation factor of polish economy is the weakest point. It is due to low involvement of high schools, research-development institutions, domestic institutions and advising companies, in creation of new products, technologies, and management systems in the public sector; there are also not many achievements of private sector in this area. There are few polish patents and know-how abroad. There is also little usage of global knowledge. It's now necessary to work out effective innovation system, which will include favorable mechanisms for knowledge promotion, domestic and foreign.

11

Wartość przedsiębiorstwa w zmiennym otoczeniu - przykład dzierżawy z opcjami

Wiśniewski T.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

177-189

PL

Wartość przedsiębiorstwa w zmiennym otoczeniu jest wyższa jeżeli firma posiada możliwość elastycznej reakcji na zmianę warunków zewnętrznych. Wycenę elastyczności zawartą w rozwiązaniach organizacyjnych, technologicznych i prawnych można dokonać przy pomocy metod opcyjnych. Jedną z podstawowych trudności w metodach opcyjnych jest równoczesne występowanie opcji prostych i ich wzajemne oddziaływanie. W artykule przeanalizowano przypadek wyceny złożenia opcji kontynuacji i wypowiedzenia umowy dzierżawy i jej wpływ na wartość firmy.

EN

Company value in volatile environment is higher if company has possibility and opportunity of flexible reaction to unstable environment. Valuation of flexibility incurred in company organisation, technology and contracts could be carried out with use of option valuation methods. One of the basic difficulty in real option valuation is occurrence of many real option concurrently and their interaction. Valuation of simple option combination with independent tree path is carried out. The case of combination of simple options of tenancy period extension and tenancy abandon is analysed and their impact on company value is calculated.

12

Wartość przedsiebiorstwa w procesie globalizacji a w rozwoju zrównowazonym i trwałym

Piontek F., Piontek B.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

139-155

EN

The main purposes of this article are: -analysis main issues connected with the category of the worth company; -to recognize relations to the idea of wholeness, globalization process as well as sustainable and permanent development and their meaning for creating worth's company. In the considerations there are shown essential differences between wholeness and globalization process as well as answers to the question what relations are between sustainable and permanent development and wholeness as well as permanent and sustainable development and globalization process; - characteristic new radical rules which are specify for a Connected World an answer for question about their results for creating worth's company; - to find possibilities which are needed for realize wealth's company in the sustainable development.

13

Wartość poznawcza deterministycznego modelu wzrostu rynkowej wartości przedsiębiorstwa uwzględniajacego przepływy pieniężne

Skoczylas W., Niemiec A.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

682-697

EN

The main aim of this article is a presentation of deterministic model that explains a change of market value of listed companies and takes into account generated cash flows. There is also a presentation of usage of model on sample of companies included in WIG 20 between 1999-2002. At the and of the article are shown advantages and disadvantages, as also as directions of its further application.

14

Pomiar wartości klientów a wartość firmy

Dobiegała-Korona B.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

39-47

EN

In In this paper I presents the most critical aspect of a firm, its customers. I demonstrate how valuing customers makes it feasible to value firms - Amazon.Ameritrade.E* Trade. The value of a customer to a firms is defining as the expected sum of dicounted future earnings, which is based on key assumptions concerning retention rate and profit margin. The value of all custorers is determind by the acguisition rate and cost of acguir-ing new customers.

15

Polityka innowacyjna Unii Europejskiej jako determinanta wzrostu wartości przedsiębiorstw

Kozioł K.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

565-575

EN

The aim of the paper is to present the evolution, directions and presuppositions of innovation policy in the EU, stimulating innovative processes in enterprises and contributing to the growth of their Value. The EU R&D policy was developing during two main periods: the first one (1952-1973) had the sectoral character, i.e. limited only to activities of the European Atomic Energy Community (EUR ATOM) and the European Coal and Steel Community (ECSC) - whereas the second one (from 1974) was referred to as the common policy regarding knowledge and technology or R&D policy.

16

Ochrona prawna kapitału intelektualnego i jej wpływ na wartość firmy

Rózga B., Urbańczyk S.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

157-163

EN

The article focuses on the increasing value of the "intelectual capittal" which consists of human capital, structural capital and customer capital. Author tried to show that company's knowledge management strategy should involved creation, process and protection of the effective solutions. In conclusion it has to be emphasised that harmonization of polish low gives new possibilities of insurance, what influences of the value of the company.

17

Lojalność klientów jako źródło wzrostu wartości przedsiębiorstw

Wojnarowska H.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 2

1299-1312

EN

In last few years one can notice a big rise of interest in research on CLV. That interest rise results from growing importance of customer relationship bonds creation for companies, development of Internet as a reliable source of information on customers' purchasing behavior and wide spectrum of ignorance on the subject that arise from unsatisfactory empirical proofs confirming CLV concept usefulness for marketing decisions taking. The text presents the choice of CLV measurement and evaluation models. CLV is a basis for enterprises to choose the appropriate customers for building further advantageous relationships with them.

18

Koncepcja controllingu w sterowaniu wartością dla akcjonariuszy

Skoczylas W.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 42

302-314

EN

Efficient value management especially in dynamic and variable environment will demand controlling support. In an article there is presented a controlling conception in a shareholders value steering. In peculiarities there are presented definitions, functions, assignments and structure.

19

Ekologizacja przedsiębiorstwa jako sposób podniesienia jego wartości

Kryk B.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 1

587-600

EN

Rise of ecologic crisis and environmental barriers which reduce economic growth made people realize that the behavior in relation to environment should be changed. There are many conceptions of economic growth that included environment but as the best is accepted the conception sustainable development. This article present part ecologic instruments in its realization: ecological goals of firm, environmental management and ecological strategies.

20

Doskonalenie zarządzania czasem jako czynnik wzrostu wartości przedsiębiorstwa

Bruska A., Kauf S.

Zeszyty Naukowe. Prace Instytutu Ekonomiki i Organizacji Przedsiębiorstw / Uniwersytet Szczeciński

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2004

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Nr 43, t. 2

1273-1284

PL

Artykuł stanowi próbę zarysowania roli czynnika czasu w tworzeniu wartości przedsiębiorstwa. Zwrócono uwagę na znaczenie czasu podejmowanych działań dla poszczególnych obszarów funkcjonalnych przedsiębiorstwa. Przedstawiono ogólne zasady TBM jako koncepcji zarządzania czasem w przedsiębiorstwie. W nawiązaniu do wyników wieloletnich badań prowadzonych przez naukowców brytyjskich omówiono metodę "mapowania przebiegu procesów w czasie" (TBPM), która wspomaga identyfikację i sterowanie czasem realizacji kluczowych działań łańcucha dostaw.

EN

In this article we try to describe the role of time as an important factor in value creation process. We pay attention to the significance of time, in which enterprise activities are realized, for each one of its functional areas. We consider the general principles of Time Based Management. Referring to several-years studies made by British researchers we explain the Time Based Process Mapping (TBPM) method, used as a tool to identify and control the time of supply chain activities realization.