Wyniki wyszukiwania - Biblioteka Nauki

1

A novel approach to estimating the debt capacity of European SMEs

100%

Karas M. , Režňáková M.

Equilibrium. Quarterly Journal of Economics and Economic Policy

|

2023

|

tom 18

|

nr 2

551-581

EN

Research background: The concept of debt capacity assumes that a maximum value of debt ratio exists that when exceeded triggers unfavourable consequences, such as drop in market value, default or a change in the business' creditworthiness. With the current state of the art there is a priori no theoretical assurance that such a specific value exists, or rather it is represented by an interval of values. Beyond that, our understanding of debt capacity is often limited to a theoretical approximation by firm-specific factors, while the context of macroeconomic factors, especially those critical for SMEs, is neglected. Purpose of the article: The aim of this paper is to present a novel approach to estimating SMEs' debt capacity. Further, the aim is to answer the question of what firm-level and macroeconomy conditions lead to exhausting the SMEs' debt capacity and under what conditions a specific value of maximum debt capacity could be estimated. Methods: To estimate the debt capacity, we suggest a use of an information entropy minimising heuristic and the Minimal Description Length Principle. In this approach, the observed feature space is categorised into several regions. In this case, such a region represents a set of firm- and macroeconomy-specific conditions forming the debt capacity of the SMEs. To the best of our knowledge, such an approach has not yet been used in debt capacity applications. Findings & value added: We found out that the debt ratio itself provides little explanation of exhausted debt capacity, suggesting that high debt levels are compensated for by other factors. By using the suggested approach, a set of more than 100 different regions was analysed. It was found that in case of five regions (sets of conditions) the debt capacity is exhausted, as the high level of debt has significant distress consequences.

2

Macroeconomic Determinants of Credit Risk on the Example of Non-performing Loans

100%

Zawadzki A.

Central European Economic Journal

|

2023

|

tom 10

|

nr 57

275-286

EN

The primary goal of this article is to examine the principal macroeconomic factors influencing credit risk as assessed by the nonperforming loan ratio (hereinafter NPL ratio). Based on the results, the ratio of domestic credit to the private sector, Organization for Economic Cooperation and Development (OECD) membership with a negative correlation with NPLs while the unemployment rate and the ratio of public debt with a positive relation with NPLs were statistically significant. In addition, the correlation between the inflation rate and the depreciation of the home currency wasproven. The research examines the effects of the 2008 credit crunch, which triggered the financial crisis. The sample comprises106 countries for the period 2009–2019. The real GDP growth, unemployment rate, public debt ratio, domestic credit to private sector ratio, currency depreciation, inflation rate, and interest rate were analysed as macroeconomic factors. A dummy variable representing OECD membership has been included in the analysis. The estimations were performed using the ordinary least squares (OLS) method. This article contributes to the academic discourse on the panel data perspective with regard to non-performing loans, while the practical implications are beneficial for governments and international investors.

3

MACROECONOMIC DETERMINANTS OF INVESTMENT IN AGRICULTURE IN POLAND – DEMATEL METHOD

88%

Miłaszewicz D. , Nermend K.

Metody Ilościowe w Badaniach Ekonomicznych

|

2017

|

tom 18

|

nr 1

99-109

EN

Investments in agriculture have a direct impact on the sector as well as on the economy in general. These effects are determined by many internal (microeconomic) and external (macroeconomic) factors. In the literature there are many studies on the influence of microeconomic factors on decisions regarding investments in agriculture holdings. Few authors, however, have dealt with macroeconomic conditionality for such decisions. The paper presents the possibility to apply the DEcision MAking Trial and Evaluation Laboratory (DEMATEL) method in examining the causal links between macroeconomic factors and investment in rural areas. Basing on the three independent experts’ opinions referring to the analyzed relationships, we reveal direct and indirect links between the investigated variables.

4

Resilience of Pomorskie region to economic crisis

88%

Masik G. , Rzyski S.

Bulletin of Geography. Socio-economic Series

|

2014

|

tom 25

|

nr 25

129-141

EN

Economic resilience is defined as the ability of the economy to overcome the negative external shocks. It depends on macroeconomic factors and internal conditions of the country or region. Macroeconomic factors include fiscal policy, economic and monetary policy. Among the internal factors economic structure, the level of restructuring and modernization of enterprises, competitiveness and innovation should be mentioned. Among the important soft internal factors level of human capital, including entrepreneurship can be distinguished. The aim of the paper is to present the issue of economic resilience and explain what are the main factors constituting resilience of Pomorskie region (voivodship) in Poland. To achieve this aim, authors first give a theoretical introduction regarding the economic resilience concept as well as describe the methods of economic resilience measurement. Secondly the macroeconomic, external factors affecting the analysed region are discussed. Next the authors measure resilience of Pomorskie region basing on statistical data and compare the resilience of Pomorskie region with other regions in Poland. At the and the authors, basing on extensive interviews with experts, representatives of regional business and administration, attempt to explain why Pomorskie region is more resilient to economic crises than other Polish regions. In this part Pomorskie economy structure is presented too.

5

Impact of Economic Inertia on Economics: a Methodological Framework

88%

Navickas V. , Bačiulienė V.

Zeszyty Naukowe Politechniki Częstochowskiej. Zarządzanie

|

2021

|

nr 44

46-53

EN

The article is devoted to the phenomenon of economic inertia. The authors of the study conducted sufficiently detailed research of economic inertia, on the basis of which the damage to the economy from various economic reforms or economic shocks can be revealed in a timely manner. as Additionally, guidelines can be outlined for further economic growth and sustainable economic development. In their in-depth research on the concept of economic inertia, the authors introduced into usage and employed new concepts of certainty, uncertainty, insufficiency and the redundancy of economic inertia. The authors delineated out as many as four levels of complexity of economic inertia uncertainty. The empirical research is based on a model of the impact of subsidies on the economy. The research model demonstrates that the use of subsidies decreases the market equi-librium price. Innovative companies lose motivation to pursue sustainable economic growth and ensure competitiveness. In this case, the phenomenon of economic inertia is obvious and deprives businesses of the incentives to use innovation to ensure eco-nomic growth. Thus, subsidies as a system of stimulus and rescue in the strategic as-pect of increasing competitiveness have negative effects on the country's economy.

6

Impact of foreign direct investment on lower silesia’s economic development

88%

Popławski M.

Journal of Intercultural Management

|

2013

|

tom 5

|

nr 2

31-62

EN

The paper presents research results concerning the impact of foreign direct investments on the economic development of Lower Silesia in the years 1999-2011. The first year analysed is 1999 - the year in which the new administrative division was introduced into Poland, where the number of provinces was reduced from 49 to 16, with 314 districts and 65 cities being given district rights (including communes which also accomplish the tasks of the district).1 The research takes into account the most important macroeconomic indicators presenting the region’s development, such as the GDP and investment and employment levels. These indices are based on data from the Statistical Office in Wrocław and the Central Statistical Office of Poland (GUS). Data on companies and entities with foreign capital have been correlated with the above-mentioned indicators to evaluate the foreign investment influence on the region’s economy

7

Corporate management through the lens of macroeconomics

75%

Szostak J.

Zeszyty Naukowe / Wyższa Szkoła Oficerska Wojsk Lądowych im. gen. T. Kościuszki

|

2015

|

tom Nr 3

103--117

EN

Organizational management processes reflect capital allocation in a given business as well as in the macroeconomic space at large. In practice, macroeconomic forces acting on a given economy will depend on economic policy pursued by the state. Under the currently prevalent neoliberal outlook on market economy and its mechanisms, the impact of macroeconomic forces is confined to creating a specific socio-economic environment in which businesses operate, and to defining the economic content of (the category of) production efficiency. The paper attempts to depict the influence of macroeconomic forces on the criteria for assessing business performance that impinge indirectly on corporate management processes. The discussion leads to a proposition that while macroeconomic policy founded on neoliberal premises might well be conducive to business activity, it could be, in the long run, detrimental to individuals and to society at large.

8

The effect of financial, macroeconomic and sentimental factors on stock market volatility

75%

Czapkiewicz A. , Choczyńska A.

Przegląd Statystyczny

|

2020

|

tom 67

|

nr 4

274-293

EN

The aim of this paper is to find economic factors that could be helpful in explaining the market's shifts between periods of prosperity and crisis. The study took into account the main stock indices from developed markets of the USA, Germany and Great Britain, and from two emerging markets, i.e. Poland and Turkey. The analysis confirms the existence of two different states of volatility in these markets, namely the state with a positive returns' mean and low volatility, and the state with a negative or insignificant mean and high volatility. The Markov-switching model with a dynamic probability matrix was applied in the study. The subject of the analysis was the impact of domestic and global factors, such as VIX and TED spread, oil prices, sentiment indices (ZEW), and macroeconomic indices (unemployment, longterm interest rate, CPI), on the probability of switching between the states. The authors concluded that in all the examined countries, changes in long-term interest rates have an influence on market returns. However, the direction of this impact is different for developed and emerging markets. As regards developed markets, high prices of oil, 10-year bonds, and the ZEW index can suggest a high probability of the countries remaining in the first state, whereas an increase in the VIX index and the TED spread significantly reduces the probability of staying in this state. The other studied factors proved to be rather local in nature.

9

Wpływ czynników makroekonomicznych na kreacje wartości dodanej w branży transportu i gospodarki magazynowej

75%

Balina R. , Bąk M.

Logistyka

|

2015

|

tom nr 4

8636--8641, CD3

PL

Przeprowadzone badania dotyczyły określenia wpływu czynników makroekonomicznych na tworzenie wartości dodanej przez przedsiębiorstwa z branży transportu i gospodarki magazynowej. Na podstawie przeprowadzonych analiz ustalono, że branża ta jest silnie związana z wielkością produktu krajowego brutto oraz wartością importu i eksportu towarów i usług w gospodarce. Ponadto ustalono, że część czynników oddziałuje na wysokość wartości dodanej w branży transportowej z pewnym opóźnieniem co jest związane ze specyfiką tej branży.

EN

The study involved determining the impact of macroeconomic factors on creating added value of companies from the transport and storage sector. On the basis of analysis it was established that this sector is strongly related to the size of gross domestic product and the value of imports and exports of goods and services in the economy. It was also determined that some of the factors affects the amount of value added in the transport industry with a delay which is related to the specifics of the industry.

10

The impact of macroeconomic factors on the Portuguese Stock Market

75%

Mota J. , Santos J. , Oliveira H. , Moutinho V.

Polish Journal of Management Studies

|

2023

|

tom Vol. 27, No. 1

241--257

EN

Macroeconomic factors impact both the stock markets and society. However, one generic research question remains unanswered: Do all macroeconomic factors impact all markets and all countries with the same strength? This study aims to contribute to the perception of how macroeconomic factors impact the Portuguese Stock Market. It also considers how the Portuguese Stock Market reacts to various factors compared to the North American and Japanese Stock Markets, focusing on the last decade. Using GARCH Models, the results document that the Portuguese Stock Market suffers significant impacts from the EUR-USD exchange rate. In turn, oil and gold prices also have a significant influence. The Japanese market, at first sight, looks more resilient to outside events, but it is also sensitive to gold price fluctuations and the EUR-JPY exchange rate. The North American market especially feels pressure from exchange rates from both the EUR and JPY and Brent.

PL

Czynniki makroekonomiczne wpływają zarówno na rynki akcji, jak i na społeczeństwo. Jednak jeden generyczny aspekt badawczy pozostaje bez odpowiedzi: Czy wszystkie czynniki makroekonomiczne wpływają na wszystkie rynki i wszystkie kraje w takim samym stopniu? Niniejsze opracowanie ma na celu przyczynienie się do postrzegania wpływu czynników makroekonomicznych na portugalski rynek akcyjny. Rozważono również, w jaki sposób portugalski rynek akcji reaguje na różne czynniki w porównaniu z północno amerykańskim i japońskim rynkiem akcji, koncentrując się na ostatniej dekadzie. Korzystając z modeli GARCH, wyniki dokumentują, że portugalski rynek akcji odczuwa znaczący wpływ kursu wymiany EUR-USD', podobnie jak ceny ropy naftowej i złota. Rynek japoński na pierwszy rzut oka wydaje się bardziej odporny na wydarzenia zewnętrzne, ale jest również wrażliwy na wahania cen złota i kurs wymiany EUR-JPY. Rynek północnoamerykański szczególnie odczuwa presję ze strony kursów wymiany zarówno EUR i JPY, jak i ropy Brent.

11

Analiza determinant cen nieruchomości w Polsce

75%

Drachal K.

Świat Nieruchomości

|

2011

|

nr 1(75)

30-33

EN

Some possible house price determinants in Poland were presented by examining particular researches on Eastern and Western Europe and European Community. The impact of those factors was examined on Polish market in recent years. The future possible researches were suggested. It was also stated why demographic and sociological factors are probably more important.

PL

W pracy wyszczególniono potencjalne makroekonomiczne determinanty cen nieruchomości w Polsce na tle krajów Europy Środkowo-Wschodniej oraz Unii Europejskiej. Rozważono wpływ tych czynników w ostatnich latach. Zasugerowano także dalsze badania oraz wykazano, dlaczego bardziej istotnego wpływu należy szukać w czynnikach demograficznych i socjologicznych.

12

Macroeconomic instability and development disparities of peripheral areas in regions in Poland

75%

Jarosiński K.

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

|

2023

|

tom z. 173

241--260

EN

Purpose: The aim of the article is to indicate the macroeconomic factors and their potential impact on the economy in the conditions of crises in the regional system in Poland and in peripheral areas of the regions, based on the example of the Mazowieckie province. Design/methodology/approach: The study includes theoretical research on the impact of macroeconomic phenomena on development processes and empirical research on changes in macroeconomic indicators in crisis conditions. The research covered 314 communes and 37 districts in Poland and in the Mazowieckie province. The analytical and descriptive method of the impact of changes on the socio-economic development was used. Findings: Theoretical research proves that macroeconomic instability affects the course of economic processes. The increase in interest rates and inflation may limit investment activity and reduce the efficiency of management. This poses a threat to the company's and state's performance. Empirical research has shown that in Poland there has been a deterioration in the economic situation in the regions and in the peripheral areas of the regions. Research limitations/implications: The broad context of economic and social changes resulting from many crisis phenomena is a difficult subject of research. There are serious difficulties in accessing reliable sources and the continuity of source data, which limits research opportunities. Practical implications: Identification of changes in factors adversely affecting development and leads to the need to monitor the macroeconomic situation and current changes taking place in enterprises, and indirectly relates to social changes. Hence, it is necessary to conduct further research in a systemic perspective and to take appropriate remedial measures. Social implications: The research revealed the influence of negative factors on the phenomena taking place in the economy. The effects are wide-ranging and there is a risk of worsening both nationally and globally. Specific changes in the social sphere, including lowering the standard of living, are a derivative of crisis phenomena. The social consequences are already visible, further effects may occur in the future. Originality/value: (mandatory) The article raises the problems of economic development in the face of crisis phenomena. The instability of development in the conditions of significant macroeconomic changes requires detailed analyzes of conditions and effects in the long term.

13

Czynniki makroekonomiczne a spłacalność kredytów konsumpcyjnych

63%

Sztaudynger M.

Gospodarka Narodowa. The Polish Journal of Economics

|

2018

|

tom 296

|

nr 4

155-177

EN

This article is the result of research aiming to quantify the association of macroeconomic factors and the risk of consumer loan default. Data at a medium level of aggregation was used to describe the consumer loan portfolio of one of Poland’s largest commercial banks during the period of 2004–2016. The sample consisted of more than 10,000 observations, describing cohorts of loans disbursed in the successive months of the period. The relations were investigated with the use of panel data models. The approach applied in modelling allows to better isolate the effect of the macroeconomic environment from other key factors determining credit risk, i.e. historic changes in the bank’s lending policy and the natural maturation process of the portfolio. The results confirm the interrelation of credit risk and the economic situation, represented in the model by the unemployment rate and industrial production. An increase in the unemployment rate is associated with the increase the default frequency, while greater dynamics of industrial production works in the opposite direction. Lags of up to 12 months were detected in this relationship. However, the connection of interest rates has not been confirmed. The presented model along with widely available macroeconomic forecasts and stress scenarios allows for more accurate prediction of portfolio deterioration during downturns. This will enable formulation of recommendations for bank lending policy during different phases of the business cycle.

PL

Celem badań przedstawionych w artykule jest kwantyfikacja i hierarchizacja wpływu czynników makroekonomicznych na ryzyko zaniechania spłaty kredytu konsumpcyjnego. W analizach wykorzystano dane o średnim poziomie agregacji, które opisywały portfel kredytów konsumpcyjnych jednego z głównych banków komercyjnych w Polsce (w latach 2004–2016). Próba obejmuje ponad 10 tys. obserwacji, charakteryzujących kohorty kredytów uruchamianych w kolejnych miesiącach. Wykorzystano modele danych panelowych. Wyizolowano wpływ sytuacji makroekonomicznej spośród innych kluczowych czynników determinujących ryzyko kredytowe (to jest historycznych zmian polityki kredytowej banku i naturalnego cyklu dojrzewania portfela). Wyniki potwierdziły związek sytuacji gospodarczej, reprezentowanej w modelu przez stopę bezrobocia i produkcję przemysłową, z ryzykiem kredytowym. Wzrostowi stopy bezrobocia towarzyszy większa częstotliwość przypadków zaniechania spłaty, a przyspieszeniu dynamiki produkcji przemysłowej – mniejsza. Stwierdzono również występowanie opóźnień tej asocjacji sięgających 12 miesięcy. Nie został natomiast potwierdzony związek ze stopami procentowymi. Model wraz ogólnodostępnymi prognozami makroekonomicznymi lub scenariuszami stresowymi umożliwia dokładniejsze przewidywanie skali pogorszenia jakości portfela w okresie dekoniunktury, a także formułowanie rekomendacji w zakresie polityki kredytowej, zwłaszcza granicznych poziomów akceptowanego prawdopodobieństwa zaniechania spłaty w różnych fazach cyklu koniunkturalnego.

14

Makroekonomiczne uwarunkowania budowy portfela funduszu polskich spółek proeksportowych.

63%

Łon E.

Pieniądze i Więź

|

2013

|

tom 16

|

nr 3(60)

86-97

PL

W artykule zaproponowano utworzenie w Polsce funduszu inwestycyjnego lokującego środki w akcje polskich spółek proeksportowych. Zdefiniowano także pojęcie polskiej spółki proeksportowej. Ponadto przedstawiono wpływ głównych czynników makroekonomicznych na notowania kursów akcji portfela polskich spółek proeksportowych. Z badań wynika, iż w warunkach makroekonomicznych sprzyjających branży eksportowej stopy zwrotu z akcji polskich spółek proeksportowych są kilkakrotnie wyższe od stóp zwrotu z głównych indeksów GPW w Warszawie takich jak: WIG20, mWIG40 oraz sWIG80. W opracowaniu przedstawiono zasady polityki inwestycyjnej funduszy polskich spółek proeksportowych. Zaprezentowano także doświadczenia innych krajów w promocji sektora proeksportowego.

EN

The article proposes the creation of a Polish mutual fund investing assets in equity of Polish export-oriented companies. It defines the concept of Polish export-oriented company and also shows the influence of macroeconomic factors on stock returns of Polish export-oriented companies. The study showed that in the macroeconomic conditions favorable for the export industry, stock returns of the Polish export-oriented companies are higher than the returns of the main WSE indices such as WIG20, mWIG40 and sWIG80. The paper presents also the principles of investment policies of the Polish export-oriented companies’ mutual funds. The Author presents also experiences of other countries in the promotion of export-oriented sector.

15

Macroeconomic factors affecting carbon dioxide emissions in Bangladesh: an ARDL approach

63%

Khan M.

Polityka Energetyczna

|

2023

|

tom T. 26, z. 3

27--46

EN

This study investigates how macroeconomic variables in Bangladesh from 1991 to 2021 affected emissions, using data from the World Development Indicators. This study used the autoregressive distributed lag (ARDL) model. The study finds that Bangladesh’s GDP per person, energy use, and trade openness positively and significantly affect both short-term and long-term carbon dioxide emissions. However, statistics show that foreign direct investment does not affect from Bangladesh’s. This study says that policymakers should focus on making energy policies and other economic policies that help the economy grow and have little to no effect on emissions. Additionally, economic growth will not hurt the environment as much if policies are implemented to encourage the growth of both the public and private sectors and make it easier to make money by allocating and distributing resources well. Finally, this study suggests looking for additional variables to improve the model’s fit and using other estimating techniques to obtain more trustworthy findings.

PL

W niniejszym artykule zbadano, wykorzystując dane z World Development Indicators, w jaki sposób w jaki sposób zmienne makroekonomiczne w Bangladeszu w latach 1991–2021 wpłynęły na emisje. W tym badaniu wykorzystano model autoregresyjnego rozproszonego opóźnienia (ARDL). Badanie wykazało, że PKB Bangladeszu na osobę, zużycie energii i otwartość handlu pozytywnie i znacząco wpływają zarówno na krótko-, jak i długoterminowe emisje dwutlenku węgla. Statystyki pokazują jednak, że bezpośrednie inwestycje zagraniczne nie wpływają na sytuację w Bangladeszu. To badanie mówi, że decydenci powinni skupić się na kształtowaniu polityki energetycznej i innych polityk gospodarczych, które pomagają gospodarce rozwijać się i mają znikomy wpływ na emisje. Ponadto wzrost gospodarczy nie będzie tak bardzo szkodził środowisku, jeśli wdrożona zostanie polityka zachęcająca do rozwoju zarówno sektora publicznego, jak i prywatnego, oraz ułatwiająca zarabianie pieniędzy poprzez dobrą alokację i dystrybucję zasobów. Wreszcie, to badanie sugeruje poszukiwanie dodatkowych zmiennych w celu poprawy dopasowania modelu i wykorzystanie innych technik szacowania w celu uzyskania bardziej wiarygodnych wyników.

16

Efektywność lokowania krajowych i zagranicznych funduszy inwestycyjnych w Polsce w latach 2007-2016

63%

Ważna E.

Kwartalnik Naukowy Uczelni Vistula

|

2018

|

nr 3(57)

51-67

PL

Polski rynek funduszy inwestycyjnych działa od dwudziestu lat, z czego ostatnie siedem lat to okres dynamicznych zmian wartości aktywów netto coraz większej liczby funduszy, które stały się coraz bardziej zróżnicowane pod względem prawnym i ekonomicznym. W artykule zaprezentowano analizę efektywności lokowania krajowych i zagranicznych funduszy inwestycyjnych w latach 2007-2016. Słowa kluczowe: fundusze inwestycyjne, rynek kapitałowy, efektywność, czynniki makroekonomiczne, mikroekonomiczne.

EN

The Polish investment fund market has been working for twenty years, and the last seven years has been the period of dynamic changes to the net asset values of a growing number of funds which are now more diverse, both in legal and economic terms. In her article, the author presented an analysis of effectiveness of placement of national and foreign investment funds in the years 2007-2016.

17

Impact of the macroeconomic factors on the level of energy poverty-case of the Czech Republic, Poland and Slovakia

63%

Lisicki B. , Franczak I. , Sinha P. , Yang L.

Economics and Environment

|

2024

|

tom No. 3

art. no. 836

EN

Energy poverty is a socio-economic topic that is not only related to the sustainability problem of natural resource extraction but also human activities. It reflects a situation in which households are unable to fully meet their energy needs. It mainly affects countries with a lower level of development, as well as those whose energy mix is largely based on non-renewable sources (such as coal). These undoubtedly include the Czech Republic, Poland and Slovakia. Investigations are still being conducted to explain the causes of the problem of energy poverty. The paper’s main aim is to assess the impact of selected macroeconomic factors on the level of energy poverty. A backward stepwise regression procedure was used to achieve this aim. Models have been developed for each of the three countries: the Czech Republic, Poland, and Slovakia separately and for all of them together. These models are intended to identify the most prominent macroeconomic factors across all three countries. Results from all four models have highlighted two prominent variables which may impact the level of energy poverty in selected countries. They are following: electricity prices for household consumers with all taxes and net electricity imports. In three of the four developed models, they explained the level of energy poverty in a statistically significant manner. In conclusion, it can be suggested that the governments of these countries take action on these variables, which can help manage energy poverty. Their identification and subsequent impact may help to reduce this problem in the analysed post-coal economies.

PL

Ubóstwo energetyczne to temat społeczno-gospodarczy związany z problemem zrównoważonego rozwoju wydobycia zasobów naturalnych, ale także działalnością człowieka. Dotyka przede wszystkim kraje o niższym poziomie rozwoju, ale także te, których miks energetyczny opiera się w dużej mierze na źródłach nieodnawialnych (takich jak np. węgiel). Należą do nich niewątpliwie Czechy, Polska i Słowacja. Wciąż prowadzone są badania mające na celu wyjaśnienie przyczyn problemu ubóstwa energetycznego. Niniejsze badanie wkompnowuje się w nurt badań w tym zakresie. Głównym celem artykułu jest ocena wpływu wybranych czynników makroekonomicznych na poziom ubóstwa energetycznego na przykładzie Czech, Polski i Słowacji. By osiągnąć główny cel, zastosowano procedurę regresji krokowej wstecz. Modele zostały opracowane dla każdego z trzech krajów oddzielnie oraz dla wszystkich łącznie. Mają one na celu identyfikację najważniejszych czynników makroekonomicznych oddziałowujących na występowania problemu ubóstwa energetycznego w analizowanych krajach. Wyniki wszystkich czterech modeli uwydatniły dwie istotne zmienne, które mogą mieć wpływ na poziom ubóstwa energetycznego w wybranych krajach. Są to: ceny energii elektrycznej dla odbiorców domowych ze wszystkimi podatkami oraz import energii elektrycznej netto. W trzech z czterech opracowanych modeli w sposób istotny statystycznie wyjaśniały one poziom ubóstwa energetycznego. Podsumowując, można zasugerować, aby rządy badanych krajów podjęły działania w zakresie istotnych statystycznie zmiennych, co może pomóc w zarządzaniu ubóstwem energetycznym. Ich identyfikacja i późniejsze oddziaływanie pozwoli pomóc w ograniczeniu tego problemu w analizowanych gospodarkach.

18

Economic Security of Enterprises in the Context of National Safety of the State

63%

liutak o. , kravchuk o.

Rocznik Bezpieczeństwa Międzynarodowego

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2013

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tom 7

41-49

PL

Autorzy artykułu rozważają zasadnicze aspekty dotyczące problemów, które decydują o bezpieczeństwie ekonomicznym przedsiębiorstw. Bezpieczeństwo ich funkcjonowania poddano analizie w kontekście siły powiązań hierarchicznych w państwie. Przyjęto, że są obecne makroekonomiczne źródła zagrożeń mające wpływ na bezpieczeństwo korporacyjne w badanychobszarach zarządzania. Kierunki doskonalenia w obszarze bezpieczeństwa ekonomicznego są brane pod uwagę, jako podstawa dla budowania narodowego bezpieczeństwa i spokoju,co jest uwzględnione w rekomendacjach prezentowanych przez autorów.

EN

What is considered in this article are key positions in relation to the factors that form economic security of an enterprise. Hierarchical strengths of securities are analysed. The macroeconomic sources of the threats that have an influence on corporate safety of the subjects management are certain. Directions of the improvement in the area of economic security of enterprises are considered as the bases for forming the national safety and security of the state in line with the authors’ recommendations.

19

Economic aspects of rape market development in Poland at the turn-of-the-centuries - during the 1995-2005 decade

63%

Czyżewski A. , Kucharski K.

Management

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2007

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tom Vol. 11, no 2

121-129

EN

In this article an attempt was made to analyse and assess the processes which were taking place in the rape market in Poland during a turn-of-the-centuries decade. The time span in question covers the years from 1996 to 2005, and the year 1995 is the reference for the first year in the studied period, this was a specific time as it included both the pre-accession period and the first years following Poland's joining the European Union. The agricultural sector is closely related with other sectors of the economy, therefore while analysis the processes of changes in the rape market, the performance of the entire economy may not be neglected. Consequently, in the first part of the article the major general economic indicators were defined as well as the indicators concerning the agricultural sector, i.e. the "agricultural price scissors" index and the dynamics of the overall agricultural production. The second part of the article presents the situation observed in the rape market, including endogenic determinants thereof.

PL

W niniejszym artykule próbowano dokonać analizy i oceny procesów jakie zachodziły na rynku rzepaku w Polsce w dekadzie przełomu wieków. Zakres czasowy dotyczył lat 1995-2005. Jest to okres szczególny, ponieważ obejmuje okres przedakcesyjny oraz pierwsze lata po wstąpieniu Polski do struktur Unii Europejskiej. Stwierdzono, iż mimo rosnącego wpływu czynników makroekonomicznych, w dalszym ciągu rynek rzepaku był determinowany czynnikami endogenicznymi. Tendencje rozwojowe rynku rzepaku w większym stopniu zależały od wielkości zasiewów i plonowania aniżeli od czynników koniunkturalnych.

20

Risk management under impacts of macro economic factors in a big seafood Ex-Import Firm - AnGiang Fisheries Ex-Import jsc. in Vietnam

51%

Thach N. N. , Huy D. T. N.

Management

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2021

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tom Vol. 25, no. 1

172--185

EN

AnGiang Fisheries Ex-Import Joint Stock Company (AGF) was established in 2001. Agifish has traditionally been a leader in the fields of production and business activities, scientific research in the field of fingerling production, seafood processing technology and the development of value added products processed from Basa-fish, Tra-fish. Agifish cares about building a spirit of solidarity between leaders, managers and workers striving for the development of the Company. Because we figure out there isa research gap in which many previous studies forgot to explore both internal and external macroeconomic elements and their impacts on stock price of Agifish (AGF), a big Vietnam fisheries firm, in the context Viet Nam and the US economies receive impacts from global economic crisis. With the using of quantitative analysis and statistics, regression OLS, together with qualitative methods including synthesis, comparison and explanatory methods, authors recognize that, in a six factor model, AGF stock price goes up together with effects from increase in GDP growth and lending rate declines. Last but not least, our research model can be expanded to other markets.