Search results for query: Li

Sort by: Relevance Author: Ascending Descending Year: Ascending Descending

Endogenous institutions and economic growth: evidence from China

Author: Zhao Li, Yujing Chu

See Issue Contents: fins.2020.1
Abstract:
The paper examined how economic institutions affect capital accumulation in the private firms sector through the finance sector and the operation objectives of different ownership firms in a socialist market economy with Chinese characteristics, which extended the neo-classical economic growth method. The Author found that economic institutions were the main factors affecting the efficiency of capital allocation between the private sector and the state-owned sector. Compared with the state-owned sector, economic institutions lead private sector to a decrease in loans and government subsidies through finance sector, and to an increase in its production costs. The evidence suggests that private firms make efforts to hire special human capital to improve economic institutions as a substitute for political capital. Considering that the strategy of China’s economic institutions reform was a national promotion which followed after a regional pilot, this paper found that the economic institutions’ reform pilot areas had a more significant impact on economic growth
Auditing of company financial standing using aggregate measure

Author: Robert Kowalak

See Issue Contents: fins.2020.1
Abstract:
A model of evaluation of company financial standing is presented in the article, based on the concept of aggregate synthetic measure. By calculating threshold values for the aggregate measure, statutory auditors gain a valuable tool to help determine the potential breach of company financial sustainability as well as evaluate company financial standing relative to other reporting periods. The main purpose of the author was to present a new conception of analysis company financial standing based on matrix measure. Theoretical and empirical methods are used in the paper. The theoretical part describes own model based on matrix measure. The empirical part shows the use of the model to analyze the financial condition of a stock exchange enterprise. Research methods concentrated on data and information collected from one company (case study), induction, deduction and literature analysis
Cost analysis in the audit of selected companies in Poland

Author: Anna Mazurczak-Mąka, Monika Turek-Radwan

See Issue Contents: fins.2019.1
Abstract:
The aim of the article is to present the issues related to the work of auditors in the area of cost analysis as an element of the financial statement in an enterprise. Empirical studies were conducted on the basis of the financial statements published by selected companies listed on the NewConnect market in 2017, as well as the audit reports issued for those companies. The partial goals include the assessment of the percentage of certain types of opinions issued by independent auditors reviewing the financial statements of selected companies listed, as well as the identification of the areas regarding costs of activities, which are most often described in the explanations or qualified opinions in the research sample under analysis. The undertaken research are preliminary and in the future should be carried out on a larger research sample divided into industry sectors.
International Financial Reporting Standard no 15 “Customer agreements” in the construction industry

Author: Anna Kasperowicz

See Issue Contents: fins.2018.3
Abstract:
The paper presents the features of the construction industry and the ways of organising investment processes, as well as the methods for the valuation of the services implemented within its scope. The individual valuation methods were assigned to the applicable provisions of Polish balance sheet law and the International Financial Reporting Standard No 15 “Revenues from contracts with customers” in force since 2018. On the basis of a practical example, there was illustrated the achieved financial result of a company providing installation services as a subcontractor in view of all the possible valuation methods. The author presented and evaluated the anticipated effects of the new standard’s entry into force, and in conclusion presented a selection of the valuation methods for the services performed in this industry, which is complicated and has a decisive impact on the amount of profits and losses of the financial results presented in the account
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
The Impact of Market Liquidity on the Effectiveness of Option Valuation With the Black-Scholes-Merton Model on the Example of WIG20 Index

Author: Michał Prymon

See Issue Contents: fins.2022.1
Abstract:
The Black-Scholes-Merton model is one of the most popular option pricing models used in a market practice. This model is based on the unrealistic assumptions, including for example lack of transaction costs. While it is not possible to satisfy all the conditions of the model, it is logical to assume that perfectly liquid markets will meet them better, which will help to reduce the risk of error. The aim of the article is to measure the impact of liquidity to divergence of Black-Scholes-Merton model in comparison to real market closing prices. The result of research demonstrates moderate dependence between the volume of the WIG20 index, the volume of option transactions and a negative correlation with ILLIQ illiquidity indicator introduced by Amihud (2002). The results of the research lead to the conclusion that there is a positive correlation between the liquidity and the divergency between BSM model and the market prices.
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
Financial strategy and the process of the internationalization of enterprises

Author: Justyna Bogołębska, Jerzy Różański

See Issue Contents: fins.2020.4
Abstract:
The article presents preliminary research on the financial strategy of enterprises in the process of internationalization. Using the survey as a research method, 25 enterprises that export their products outside Poland were examined. The main hypothesis is that the economic crisis caused by the pandemic will not lead to a change in the significance of factors influencing the enterprises’ financial strategy, and in particular to the change in the relationship between internationalization and an enterprise’s financial strategy
Benefits and inconveniences of the practical implementation of Environmental Life Cycle Costing

Author: Michał Biernacki

See Issue Contents: fins.2018.3
Abstract:
Environmental Life Cycle Costing (ELCC) combines life cycle analysis and cost systems applied by managers in order to assess the limitations of environmental production systems. It enables the evaluation of progress in implementing sustainable development by determining the social costs of resource consumption and environmental degradation. This study presents the results of empirical research covering production enterprises with foreign equity participation operating in Poland which have the basic ELCC model in place. The research is aimed to identify the benefits and inconveniences arising from the practical application of the model as a significant factor determining its functioning in entities. The research methodology was supplemented by numerous literature items, analysis of survey questionnaires, as well as deduction and induction methods
The effect of the changes in accounting estimates of the discount rate to the costs on account of creating provisions

Author: Anna Staszel, Artur Hołda

See Issue Contents: fins.2019.1
Abstract:
The aim of the study is to answer the question of how a slight change in the actuarial assumptions (regarding the discount rate used) can affect the amount of the provisions, and consequently create the level of costs in the entity. In order to find the answer the financial statements of 148 stock-exchange-quoted companies from 2007 to 2014 (1184 financial statements in total) were analysed, determining whether the changes in long-term provisions for retirement benefits provisions (due to the use of a different discount) have a significant impact on the financial statements of these companies. The research involved the use of deductive-inductive research methods in the form of literature review and analysis of the content of financial statements. The obtained results indicate that the estimation of the discount rate significantly affects the levels of costs related to creating provisions, which may be an effective tool for manipulating the financial result.

Indexing Services
& Digital Libraries

Submit a Manuscript Contact Us

Newsletter