Search results for query: Van Horne

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R&D expenditure and the role of scientists

Author: Anna Białek-Jaworska, Justyna Dobroszek

See Issue Contents: fins.2019.2
Abstract:
An effective knowledge-based economy requires regular cooperation between science and business. This is possible thanks to enterprises that create and implement innovations The paper focuses on the recognition of R&D expenditure. This aims to verify if firms with a scientist on their board are more likely to invest in the R&D. We conduct a tobit panel analysis of over 18,000 Polish private firms combined with data on patents and scientists employed at universities. The findings show that firms with scientists on the supervisory board are likely to invest more in R&D. However, these investment in R&D of firms with a scientist on the board are financial constraint. Their growth depends on access to finance. Therefore, institutions in Poland should support and promote cooperation between science and business, aiming for the realization of the implementation research. This approach requires updated regulations in the accounting area relating to the recognition of R&D inputs and outcomes.
Performance metrics in public venture capital funds

Author: Marcin Bielicki

See Issue Contents: fins.2021.2
Abstract:
Public venture capital funds are a unique type of financial intermediary. They pursue the goals, often conflicting, of public and private investors. This makes measuring their effectiveness a complex research challenge. This study aims to analyse the performance measurement methods used in public venture capital funds in Poland. For this purpose, in-depth interviews and a survey among managers of these entities were conducted. The study results show that the most significant emphasis is placed on financial efficiency, while non-financial determinants are mostly ignored. Considering the short history and lack of experience of many managers of public venture capital funds, this may further delay the process of development of this market.
The Customer as an Accounting Entity

Author: Magdalena Bochenek

See Issue Contents: fins.2022.1
Abstract:
The aim of the article is to present the customer as an accounting entity. The article presents the growing role of the customer in enterprise management. Businesses are increasingly customer-oriented. This also results in a customer orientation of management accounting methods. Management accounting methods can be used to measure customer costs and customer value. The results of research on customer orientation of enterprises are presented. The research was conducted among enterprises based in the Podkarpackie Province with more than 49 employees. The results of the research confirmed that the employees of the enterprises consider the customer to be important for them. Respondents identified customers as the people thanks to whom they generate the most revenue. In contrast, a relatively small number of respondents identified customers as the people through whom the enterprise incurs costs and achieves economic success. Most entrepreneurs perceive customers only from the revenue side. The research methods used in the article are a critical analysis of the literature and a quantitative method, which consisted of direct research using the questionnaire technique.
Performance changes around banks mergers and acquisitions: evidence from Poland

Author: Katarzyna Budny, Joanna Krasodomska, Katarzyna Świetla

See Issue Contents: fins.2019.2
Abstract:
This study investigates the influence of M&Aon the performance of banks operating in Poland. We use asample of 14 transactions that occurred in the Polish banking sector from 2001 to 2015. Our data set includes pre and post-merger accounting information covering aperiod of two years before and after the merger. We follow Pilloff’s [1996] approach to determine the average performance changes measured with ROAA and ROAE. According to the research results, M&As transactions seem to affect profitability as both ROAA and ROAE means change. However, these changes do not follow the same trend. The correlations between the acquirer’s pre-merger weighted performance measured with ROAA and ROAE and merger-related changes in performance are significant and negative. The same situation is observed as regards the target pre-merger weighted performance measured with ROAE and merger-related changes in performance. The results also suggest that large acquirers are associated with less successful M&A.
Usefulness of comprehensive income statement – preliminary study on the example of companies from the WIG30 index

Author: Przemysław Czajor, Piotr Druszcz, Michał Hendryk

See Issue Contents: fins.2019.4
Abstract:
The financial result of a company is undoubtedly the most frequently analyzed category in making economic decisions. The changing needs of financial statements users resulted in the replacement of the classic financial result with the broader concept of comprehensive income, which was regulated in the International Accounting Standard 1 Presentation of financial statements. As a result a statement of the entity’s comprehensive income is created. An important element analyzed by the scientific community is the presentation of the mentioned comprehensive income and its usefulness. The purpose of the article is to determine the impact of introducing the obligation to prepare a statement of comprehensive income on the usefulness of the financial statement. The usefulness has been assessed from the perspective of the form of statement of comprehensive income and the relevance of other comprehensive income’s items as compared with net income
A comparability of information in the financial statements of gaming companies

Author: Małgorzata Czerny, Zuzanna Firkowska-Jakobsze, Stanisław Hońko

See Issue Contents: fins.2019.4
Abstract:
The purpose of this article is to assess a comparability in the financial statements of entities from the Polish gaming industry. The article uses an unconventional approach to the analysis of comparability of financial statements, with particular emphasis on the business model of the entity. The overall conclusion is that Polish companies used similar accounting policies during the period under review regarding the methods of valuation of assets and liabilities. The scope of disclosures regarding impairment of assets does not allow for a full assessment of the premises underlying them. It is difficult to find out the criteria for qualifying costs for research and development, which are an important asset item. Deficiencies in disclosures are a common feature of the analyzed reports, which can be interpreted as a symptom of their comparability. The analyzed reports, despite the differences diagnosed, make possible to compare the financial situation and achievements of gaming companies
The measurement of costs and results in supply chain management: the case of Poland

Author: Justyna Dobroszek

See Issue Contents: fins.2018.3
Abstract:
Supply chain management (SCM) is a modern phenomenon in business practice and an important area of scientific discussions. In the literature it is not easy to find only one explanation of this subject because some scientists treat SCM as a separate concept, others as an expansion of the logistics function. The supply chain is a kind of modern business model that needs accurate management. To support the management process an the effective way, management accounting tools and methods may be applied. The aim of the article is to present the methods and tools of management accounting used for the measurement of costs and results in SCM. For this purpose, a survey was conducted among 40 selected enterprises in Poland. The findings indicate that on the one hand the studied organizations already use advanced management accounting tools and the methods providing information for SCM needs, on the other hand, they rarely apply them. This approach does not contribute to effective and holistic measurement of supply chain and its management
A comperative study on managers’ assessment of the selected properties of internal reports

Author: Justyna Dobroszek, Ewelina Zarzycka, Alina Almasan, Cristina Circa

See Issue Contents: fins.2018.3
Abstract:
An important role in an organization is played by the management information system that enables managers to perform management tasks. The pillar of this system is financial and non-financial data provided by the management accounting system. The effect of the application of specific management accounting tools are various types of studies and analyses, defined in internal reports, which are the basis for management, and thus making decisions by managers. Internal reports, in order to fulfil their functions effectively, must have appropriate features as to its structure, content and other properties. In connection with this, the authors studied and presented an assessment of managers from Poland and Romania in the context of such properties of internal reports as quality, content, presentation and comments. The survey method was used as the research method, while the analysis of collected research material was based on cluster analysis and descriptive statistics. The sample consisted of 154 questionnaires. The findings are similar in both countries, although in the case of Romania, managers who assessed highly the quality and content of internal reports, and evaluated slightly lower the presentations and comments
Risks in the investment activity of Polish regions

Author: Beata Zofia Filipiak, Marek Dylewski

See Issue Contents: fins.2018.4
Abstract:
Investment activities executed by regional authorities are exposed to high risk. The risk results from the very essence of investment projects implemented by regions in Poland and can be associated with the failure to meet the regional budget. The purpose of this study is to assess the size of the existing discrepancies between the planned and actually incurred investment expenditure and to find out if there are systematic changes in the level of these discrepancies i subsequent years. This goal was achieved through the presentation of the specific approach to risk measurement in the investment activities of local government units. The research was undertaken by regional self-government units. Empirical research has allowed us to answer three research questions: how great were the disparities between the planned and the actually incurred investment costs in the Polish regions in 2011-2015? Did systematic changes in the level of inconsistency between the planned and the actually incurred costs take place in the observed period? Was the rate of failure to meet investment plans correlated with the rate of failure to meet operational financial plans?
European Milestones in Protection of Workers’ Claims in Case of Insolvency

Author: Yury Karaleu

See Issue Contents: fins.2021.1
Abstract:
The employer’s insolvency entails, in addition to potentially devastating economic consequences of output reduction and disruption of economic relations, adverse social costs for employees – the loss of jobs and earnings. It is not only the employee and his or her family who suffered a great loss but the whole society. The society faces a serious question: how to ensure the payment of wages to employees in case of insolvency and provide a solid framework with which the countries can find durable solutions, effectively organise and manage the protection of workers’ claims. This paper analyses achievement in developing the European and national systems of protection of workers’ claims in case of insolvency and shows the progress that has been made by EU countries in having a balance of interests between employers, employees and society in the protection of outstanding claims of employees in the event of their employer’s insolvency.

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