Financial Innovations on the Currency Market as New Instruments to Risk Management

• Autorzy: Ireneusz Miciuła
• Języki publikacji: EN

Abstrakty

EN

The globalisation process has provided us with the possibility of exchange and competition growth, and thus, has brought about the issue of economic (business) creation in the context of the new foreign exchange risk mitigation instruments. The author presents the division and percentage proportion of innovative risk management instruments used in practice in the Polish economic reality, and compares it to foreign markets (the USA and Germany). Moreover, an attempt is made to define what financial innovations are and analyse the available alternatives and instruments provided by the currency market and used to manage a company on the global market. Finally, chances and threats presented by financial innovations are also demonstrated. (original abstract)

Słowa kluczowe

PL

Globalizacja; Rynek walutowy; Ryzyko kursowe; Innowacje finansowe; Zarządzanie ryzykiem

EN

Globalization; Foreign Exchange (FX); Exchange risk; Financial innovations; Risk management

• Czasopismo: Journal of International Studies
• Rocznik: 2015
• Tom: 8
• Numer: nr 1
• Strony: 138-149

Twórcy

autor

Ireneusz Miciuła

• University of Szczecin, Poland

Bibliografia

• Anderloni L., Llewellyn D.T., Schmidt R.H. (2006), "Financial Innovation in Retail and Corporate Banking", Edward Elgar, Cheltenham.
• Beck T., Chen T., Lin Ch., Song F. (2014), Innovative Financial Instruments: Benefits and Problems, [in]: https://www.obserwatorfinansowy.pl/almanach/innowacyjne-instrumenty-finansowe-korzysci-i-problemy/ - [10.04.2014].
• Bennett D. (200), Currency Risk, Warsaw, ABC Publishing House.
• Bilski J. (2006), International Currency System, Polish Economic Publishing House, Warsaw. BIS Quarterly Review, p. A104, June 2011.
• Błach J. (2011), Financial Innovations and Their Role in the Modern Financial System - Identification and Systematization of the Problem, Financial Internet Quarterly "e-Finanse", vol. 7, no. 3.
• Borowiecki R. (2010), Enterprise in the Face of Challenges of the Modern Economy, Cracow University of Economics, Cracow.
• Bodnar G.M., Gebhardt G. (2010), Derivatives Usage in Risk Management by German Non-Financial Firms.
• Crawford G., Sen B. (1998), Derivatives - Decision-Making Tool, Liber Publishing House, Warsaw.
• Dziawgo D. (1998), Risk on the Financial Market, Polish Economic Publishing House, Warsaw.
• Frame W. S., White L. J. (2010), Technological Change, Financial Innovation, and Diffusion in Banking (Working Paper 2009-10). Atlanta: Federal Reserve Bank of Atlanta.
• International Finance, Bernaś B. (ed.), Polish Scientific Publishers, Warsaw, 2012.
• Grysa K. (1999), Financial Innovations as Financial Engineering Attribute, Stachurski Publishing House, Kielce.
• Gubler Z.J. (2011), The Financial Innovation Process: Theory and Application, "Delaware Journal of Corporate Law", vol. 36.
• Jajuga K. (2009), Introduction to Financial Investments, CEDUR- Education Centre for Market Participants, Polish Financial Supervision Authority, Warsaw.
• Kudła J. (2009), Financial Instruments and Their Applications, Key Text Publishing House, Warsaw.
• Lech A. (2003), Risk Management - Key to Stability, WIB Publishing House, Warsaw.
• Miciuła I. (2012), Modern Risk Management Methods and Instruments in a Company, [in]: Present-day Management Challenges, University of Szczecin Research Bulletin, no. 734, Studies and Work no. 28.
• Milewski M. (2012), Forex, Edgard Publishing House, Warsaw.
• Mullineux A. W (2010), Financial Innovation and Social Welfare, Journal of Financial Regulation and Compliance, 18(3), 243-256.
• Rose P. S., Marquis M. H. (2009), Money Market and Capital Market, Financial Institutions and Instruments in a Global Marketplace, McGraw Hill, New York.
• The National Bank of Poland (www.nbp.pl), Results of Research on the Currency Market, September 2013.
• Ostapowicz B. (2013), Present-day Economic Policy and Globalisation, [in]: Problems of Present-Day economics, University of Szczecin Research Bulletin, no. 758, Studies and Work no 32, Vol. 1.
• Rapacki R. (ed.), Economics. Vol. 2, Polish Publishing House, Warsaw, 1995.
• Development of the Financial System in Poland in 2010, National Bank of Poland, 2012.
• Markets, Instruments and Financial Institutions, Czekaj J. (ed.), Polish Scientific Publishers, Warsaw, 2008.
• Stradomski M. (2006), Financial Innovations and Creating Enterprise Value, Poznań University of Economics, Poznań.
• Zając J. (2003), Polish Currency Market in Practice, Liber Publishing House, Warsaw.
• http://www.bankier.pl/wiadomosc/Innowacja-finansowa-to-tworzenie-nowych-konfiguracji.html, access: [25.03.2014].
• http://inwestycje.elfin.pl/przewodnik/rynek-walutowy.html, access: [20.04.2014].

Identyfikatory

DOI

10.14254/2071-8330.2015/8-1/12