Search results for query: Li

1. Protection of personal data in the system of modern accounting in the context of the implementation of the Regulation of the European Parliament and of the EU Council 2016/679 of 27 April 2016
   

   Author: Katarzyna Świetla

   See Issue Contents: fins.2019.3

   Abstract:

   This article is an attempt to analyze the existing solutions in the field of the protection of personal data. Training and advisory materials on this subject prepared by numerous law firms (32) were analyzed, providing a valid explanation, understanding and implementation of the new obligations in the field of data protection. In addition the author conducted pilot interviews in accounting offices (17) concerning the protection of personal data to indicate the approach of service providers to the performance of the tasks in the field of personal data protection. The key findings of the study are: noticeable increase in the interest of the contracting parties in data protection issues, as well as presenting their positive aspects along with possible problems in their practical application. An important contribution of the author is also the presentation of the key points of agreements which the parties should pay attention to in order to avoid misunderstandings

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2. The educational role of the Accountants Association in Poland (AAP) after the deregulating of the profession
   

   Author: Katarzyna Świetla

   See Issue Contents: fins.2018.2

   Abstract:

   Due to the commonly perceived need to specialize in one professional activity, the role ofeducation is increasing. This includes accounting specializations which are important as professions ofpublic trust. In connection with such expectations, the role of education among professional groups ofaccounting professionals at all levels is increasing. The article presents the educational requirements forthe professional specialization on accounting against the IFAC International Education Standards and inthe context of the deregulation of the accountancy professions in Poland. As a solution to the problemsof appropriate education, the role of the Accountants Association in Poland (AAP) was pointed out,based on the courses provided by it, aimed at not only improving the qualifications of the individualswho are involved in accounting professionally, but also on the supporting ethics. The courses taughtwere analyzed in a cross-section of their participants in the years 2013-2016. The method adopted toachieve the intended purpose was the analysis of the available literature, the laws in force and the sourcesprovided by the AAP. On the basis of the research, it was found that despite the absence of mandatoryprofessional certification for accounting and bookkeeping, the professionals in this area do see the needfor continuous education and take diverse action to raise the quality of the services they provide

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3. Strong ESG risk management as a way to improve organisational resilience in times of crisis: an analysis of WIG-ESG index constituents
   

   Author: Ulyana Zaremba

   See Issue Contents: fins.2023.1

   Abstract:

   During the last decade sustainable investment practices have evolved substantially. ESG reporting is moving seamlessly from voluntary to mandatory. By investing in companies that score high in ESG rankings, investors hope for the organisation's resilience to the crisis and higher returns. Due to the dynamic development of socially responsible investing both in Poland and worldwide, new indices using ESG screening criteria are being designed, which in turn are the underlying instrument for structured products. The aim of the study was to analyse the constituents of the newly created WIG-ESG index and to discuss its performance and organisational resilience in relation to ESG risk exposure and management. The research showed that the criteria for inclusion in the WIG-ESG index should be amended to recognise companies that care about strong ESG risk management and exclude those with negligible ESG efforts. The second important issue is eligibility for inclusion. If all companies are eligible to be included in the index (ESG testing as a condition for inclusion), this will reduce the rotation of the index's constituents and allow the relationship between a company's ESG score after each update and its long-term performance to be explored.

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4. Theory and practice of innovation development in the banking sector
   

   Author: Małgorzata Zaleska, Przemysław Kondraciuk

   See Issue Contents: fins.2019.2

   Abstract:

   The aim of this article is to systematise the approach to innovation in the economic theory and to define the indicators used to measure the innovativeness of world economies. The considerations are focused on innovation in the banking sector as it is one of the most innovative sectors worldwide. The identification of the stages of innovation development in this branch is worth emphasising, along with the description of its economic and legal determinants

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5. The social impact bond as a financial instrument
   

   Author: Marcin Wiśniewski

   See Issue Contents: fins.2018.4

   Abstract:

   Social impact bonds are an innovative mechanism for financing social tasks with the financial resources of private investors. The repayment of the capital invested and capital gains depends on obtaining a predetermined social aim that is paid for by the public side under the “payment for results” formula. The previous work on this mechanism focused mainly on its task and organizational dimension. In this paper, the author attempts to define the social impact bond as a financial instrument. In particular, the financial side of the mechanism is considered. First, an attempt is made to determine the place of the social impact bond in the theoretical classifications of financial instruments. Second, the place of the instrument is indicated in the system of financial law. Finally, some remarks are made on the need to have the new instrument regulated in Polish legislation

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6. Imperfections of supervisory prudential regulations related to credit exposures secured by mortgages
   

   Author: Edward Wisznowski

   See Issue Contents: fins.2018.1

   Abstract:

   The credibility of economic information provided by banks is one of the key elements of building trust between the institutions and the economic environment. The activities of the national banking sector, due to the special responsibility for the entrusted deposits, is subject to restrictive legal regulations and is controlled by the banking supervision. The legal act binding the banks and regulating, among others, the rules of credit risk measurement derived from mortgage-secured loans is the S Recommendation which was issued by the Financial Supervision Commission. The publication discusses the imperfections of this supervisory regulation with regard the defined concepts and recommended methods for the measurement of credit exposure, the interpretation and the method of determining the value of mortgage security and LtV

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7. Annual financial statements, the importance of other comprehensive income
   

   Author: Grzegorz Warzocha

   See Issue Contents: fins.2018.2

   Abstract:

   The objective of the research was to verify whether the financial information presented in other comprehensive income has a material impact on the statement of total comprehensive income and financial statements viewed as a whole. The research focused primarily on the presentation requirements defined by the International Accounting Standard IAS 1 Presentation of Financial Statements and study of the annual reports filed in 2014-2016 by the WIG 20 constituent companies listed on the Warsaw Stock Exchange. In order to assess whether the impact of the financial information reported in other comprehensive income is material, relevant concepts of materiality were applied. It was tentatively assumed that the financial information presented in other comprehensive statement will be material. The results of the conducted research study confirmed in general this assumption

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8. The impact of the COVID-19 pandemic on the non-bank loan market in Poland
   

   Author: Krzysztof Waliszewski

   See Issue Contents: fins.2020.4

   Abstract:

   The article presents the impact of the COVID-19 pandemic on the non-bank loan market in Poland. Data from the Credit Information Bureau for the period 2019-2020 provided to the author, included the number and value of loans granted by lending institutions, broken down into amount ranges (up to PLN 1,000, over PLN 1,000 to up PLN 5,000, over PLN 5,000). The COVID-19 pandemic had a negative impact on the loan market due to the decline in demand for this type of products and a reduction in lending due to the tightening of anti-usury regulations generally regarding the maximum non-interest cost of credit introduced under the anti-crisis shield. Additionally, lowering the interest rates by the NBP influenced the maximum interest charged by these entities. As a consequence, some entities ceased their activity and some changed their business profile to pawnshops. The following research methods were used in the article: analysis of the available literature, legal acts, and statistical data from BIK

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9. A Significance of Climate Risks for the Financial Stability: What Do Trends in Central Banks Communication Tell Us?
   

   Author: Lada Voloshchenko-Holda

   See Issue Contents: fins.2022.2

   Abstract:

   The article examines to what extent central banks transmit the significance of climate risks for the financial stability to markets. Using simple text-mining techniques we explore Financial stability reports (FSR) of central banks from our sample to assess the relative importance of climate-related topics. In particular, we assess an intensity and a regularity of climate topics in FSR text corpora as subfactors of their importance. We assume that a high importance of climate topics in central banks communication facilitated by their regularity gives a strong signal to markets about the significance of climate risks for the financial stability. Our findings however indicate a generally low importance of climate-related topics in central banks communication (by means of FSR) which contrasts with the high urgency of climate considerations for the financial stability nowadays.

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10. Liquidity Risk and Hedge Fund Performance Evaluation
    

    Author: Richard Van Horne

    See Issue Contents: fins.2021.2

    Abstract:

    In this article I use two models, a lagged-effects model and a serial correlation model, that identify potential liquidity risk in hedge fund portfolios. From the serial correlation model I develop a liquidity risk factor that I add to a multi-factor equilibrium model in order to re-estimate Alpha across a universe of hedge funds. I find that much of what passes for fund Alpha in a multi-factor risk model lacking a liquidity risk factor is actually a compensation for bearing liquidity risk in the context of a model that includes the innovative liquidity risk factor. This result has implications for both a pre-investment due diligence and a manager selection as well as the post-investment fund performance evaluation and risk management.

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