Wyniki wyszukiwania - Biblioteka Nauki

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Pogłębiona analiza płynności finansowej spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie w latach 2002–2017 w ujęciu sektorowym – część 3

100%

Mosiejko L. , Bernardelli M.

Studia i Prace Kolegium Zarządzania i Finansów

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2021

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nr 181

9-34

EN

The study objective was to carry out an intra-sectoral analysis for selected indicators used in an in-depth liquidity analysis of enterprises and to explore their inter-sectoral dependencies. In the first part of the work, medians were calculated for each indicator and each sector based on quarterly data. These were further used to obtain values of indicators for a given sector to analyze diagrams for individual sectors. The second part was devoted to inter-sectoral comparative analysis relying on determined quartile measures. As a result of the analysis discussed in this work, real intervals were identified for each indicator which can be considered in terms of suggested norms. The identification of intervals and comparative analysis are the value added of the study to the existing body of knowledge.

PL

Celem badania było przeprowadzenie analizy wewnątrzsektorowej wybranych wskaźników służących pogłębionej interpretacji płynności finansowej przedsiębiorstw oraz eksploracja ich zależności międzysektorowych. W pierwszej części pracy dla każdego wskaźnika i każdego sektora wyznaczono mediany z kwartalnych danych, aby na tej podstawie dokonać zestawienia wartości wskaźników w ramach danego sektora w celu analizy przebiegu wykresów dla poszczególnych sektorów. Druga część poświęcona została międzysektorowej analizie porównawczej opartej na wyznaczonych miarach kwartylowych. Wynikiem niniejszej pracy jest ustalenie przedziałów liczbowych dla każdego ze wskaźników, które można rozpatrywać w kategorii sugerowanych norm. Wyznaczenie tych zakresów oraz analiza porównawcza stanowią wartość dodaną do aktualnego stanu wiedzy.

2

Applying event analysis to selected markets’ reaction to the Russian invasion on Ukraine

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Mosiejko L. , Bernardelli M.

Journal of Management and Financial Sciences

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2023

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tom 16

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nr 49

9-32

EN

The aim of the study was to analyse the rate of return of selected stock exchange indices, currency pairs, raw materials and food in the event window determined by the start date of the Russian-Ukrainian war in 2022. The analysis used an approach based on the observation of the development of rates of return and their changes over time caused by Russia’s invasion on Ukraine on February 24, 2022, applying the commonly used Average of Cumulative Abnormal Returns (ACAR) measure. The research showed many similarities as well as some differences in terms of the strength of the impact and the direction of changes in the prices of instruments on individual markets as a result of the outbreak of an armed conflict. The analysis comprehensively takes into account the impact of armed conflict on the development of short- and medium-term rates of return on various markets, the global scope of which has a significant influence on the economic development of individual countries. Not being limited to one market makes it possible to identify universal patterns of stock market behaviour in response to unforeseen events with a global impact on the world economy.

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Dynamic measurement of the financial liquidity of Polish companies listed on the Warsaw Stock Exchange between 2002 and 2017: cross-sectoral comparative analysis - Part 2

100%

Mosiejko L. , Bernardelli M.

Journal of Management and Financial Sciences

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2020

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nr 41

9-32

EN

The purpose of the present research was to analyse Polish listed companies in terms of liquidity management in 2002-2017 in a dynamic context. Evaluation of the dynamic model of corporate financial liquidity was carried out with the use of classical descriptive statistics tools and methods applied in such analyses. The companies were analysed in the new sectoral layout implemented by the Management Board of the Warsaw Stock Exchange in January 2017. The study of the dynamic financial liquidity of enterprises on the basis of selected ratios consisted of two parts. In the first part of the study, a series of medians was determined for each of the liquidity ratios in particular sectors. Each element of the series is associated with the quarter from which the data came. The ratios within sectors were then compared so that coexistence of changes over time, shifts in relation to one another, or the lack of clear interdependencies could be observed. Unlike the first part, which covered the relationship between the different ratios within a sector, the second part focuses on cross-sectoral comparative analysis. Descriptive statistics based on quantiles were derived for data covering the entire period under consideration and for all enterprises in the sector. Half of the surveyed listed companies (i.e. all the ratio values between the first and third quartiles), were adopted as the central standard. Numerical values of standards for particular ratios and sectors are presented in a tabular form.