scholarly journals Risk Profile of Polish Enterprises in the Media Sector Listed on the Warsaw Stock Exchange

2020 ◽  
Vol 8 (4) ◽  
pp. 465-478
Author(s):  
Sylwia Bąk
Keyword(s):  
Empirical Research ◽  
Stock Exchange ◽  
Comparative Method ◽  
Risk Profile ◽  
Capital Adequacy ◽  
Annual Reports ◽  
Main Research ◽  
Management Board ◽  
Warsaw Stock Exchange ◽  
The Media

Risk management currently determines the probability of survival and development of enterpris­es. The main aim of this article is to attempt to map the risk profile of Polish companies in the me­dia sector listed on the Warsaw Stock Exchange (WSE) based on the categorization of risk fac­tors identified by them. Empirical research was carried out on a sample of 15 companies listed on this Stock Exchange. The goal of empirical research was achieved through triangulation of re­search methods and techniques. The main method used in the research procedure was content anal­ysis of source documents of the examined group of enterprises, mainly: annual reports (financial statements, management board reports), capital adequacy reports and other information published mandatory by WSE listed entities. The logical classification method and the comparative method in the closed comparison variant were also used. The main research findings indicate that the risk pro­file of the enterprises studied shows characteristics specific to the media sector that they represent.

scholarly journals Cele zarządzania ryzykiem w polskich przedsiębiorstwach sektora mediów notowanych na Giełdzie Papierów Wartościowych w Warszawie

2021 ◽  
Vol 9 (2) ◽  
pp. 267-280
Author(s):  
Sylwia Bąk
Keyword(s):  
Risk Management ◽  
Stock Exchange ◽  
Comparative Method ◽  
Research Process ◽  
Theory And Practice ◽  
Added Value ◽  
Main Research ◽  
Warsaw Stock Exchange ◽  
Exchange Risk ◽  
The Media

Risk Management Objectives in Polish Enterprises in the Media Sector Listed on the Warsaw Stock Exchange Risk management is an extremely important domain of management, conditioning the develop­ment of enterprises and business continuity, as well as developing and maintaining a competitive position. The main purpose of this text is to identify and categorize the risk management objec­tives adopted in Polish enterprises in the media sector listed on the Warsaw Stock Exchange (WSE). The aim of empirical research was achieved through the use of triangulation of research meth­ods. The following methods were used in the research process: the method of analyzing the con­tent of source documents of the studied group of enterprises, the logic classification method and the comparative method. The main research findings indicate that: the overriding goal of risk man­agement in the surveyed companies formulating them in a hierarchical system is in most cases en­suring compliance with the applicable requirements of external and internal origin, and the specif­ic objectives (being components of the overarching goal) are mainly determined by the specificity of the media sector. The obtained research results refer to both the theory and practice of risk manage­ment among enterprises representing the media sector and may serve as a source of knowledge for the stakeholders of companies being listed entities, which constitutes the added value of this work.

scholarly journals A Multidimensional Comparative Analysis of Involvement in CSR Activities of Energy Companies in the Context of Sustainable Development Challenges: Evidence from Poland

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4592
Author(s):  
Tomasz L. Nawrocki ◽  
Danuta Szwajca
Keyword(s):  
Sustainable Development ◽  
Stock Exchange ◽  
Research Question ◽  
Annual Reports ◽  
Level Of Involvement ◽  
Main Research ◽  
The Social ◽  
Warsaw Stock Exchange ◽  
Energy Companies ◽  
Indicator Model

In recent years, corporate involvement in CSR has become increasingly important and appreciated in the context of the ideas and assumptions regarding sustainable development. Due to the specificity of the energy sector, its particular impact on the environment, the living conditions of the population, and the social involvement of energy companies is particularly desirable, therefore it is observed and assessed by many stakeholder groups. The aim of this article is to assess the CSR commitment of Polish energy companies listed on the Warsaw Stock Exchange. The assessment was based on the proposed indicator model, based on the data published in the annual reports of the companies. The study uses data from the years 2016–2020. The main research question is as follows: What is the engagement in CSR activities of six Polish energy companies towards contractors, investors, employees, society, and the environment? The obtained results show that the investigated energy companies present a similar average level of engagement in CSR activities. The highest level of involvement concerns the area of contractors and the lowest levels relate to the donors of capital and the environment.

scholarly journals Alternative Securities Markets as Financing Sources for SMEs – Selected Aspects of AIM and NC

2017 ◽  
Author(s):  
Joanna Małecka
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Stock Exchange ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Special Focus ◽  
Growing Stock ◽  
Warsaw Stock Exchange ◽  
Market Operation ◽  
The Uk

Small and medium-sized enterprises are the foundation for the development of each contemporary national economy. Their number affects macroeconomic indices of economies and directly translates into the labour market created by SMEs. This article aims to investigate the key conditionings behind the macroeconomic significance and legal factors of the financial market operation in Poland and the UK, with particular emphasis on the stock exchange as the fundamental element of the capital market. Both AIM and NewConnect are platforms dedicated to SMEs, which have been allowed easier access to this capital market segment by minimising mandatory legal conditions. This study analyses the number of listed companies and their capitalisation values in 1999–2015, covering: the rules of the financial market operation, with a special focus on the legal bases of the stock market operation in the economies investigated; legal conditions for the development of this economic segment; and a detailed analysis of the number of participants and capitalisation values achieved on the Warsaw and London Stock Exchanges, in particular AIM and NewConnect. This paper builds on source data from various annual reports and stock exchange publications drawn up and made available by stock exchanges and financial supervisors. The attempt to compare the indices and capacities of the WSE and the NC with the biggest European player is motivated by the fact that the Warsaw Stock Exchange is classified as the largest and most dynamically growing stock exchange in Central and Eastern Europe.

scholarly journals Analisis Tingkat Kesehatan Bank Dengan Menggunakan Metode Risk-Based Bank Rating (RBBR) (Studi Pada Bank yang Termasuk Saham LQ45 Sub Sektor Perbankan Tahun 2010–2016)

2018 ◽  
Vol 10 (1) ◽  
Author(s):  
Bobby Wijaya
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Risk Profile ◽  
Capital Adequacy ◽  
Self Assessment ◽  
Return On Assets ◽  
Good Corporate Governance ◽  
Health Level ◽  
Net Interest Margin ◽  
Capital Adequacy Ratio

This paper seeks to find out the health level of banks in Indonesia Stock Exchange LQ45 Index. It used descriptive methods with qualitative approach that is Risk Based Bank Rating (RBBR) model. RBBR model consists of 4 factors among others: risk profile, good corporate governance (GCG), earnings and capital factor.The analytical tool used in this study is the assessment of the level of health of banks in Indonesia Stock Exchange LQ45 Index against the risk factor using the ratio of net performing loans (NPLs) and Loan to Deposit Ratio (LDR), a factor of corporate governance by using the self-assessment report of good corporate governance, the earnings factor using the ratio of return on assets (ROA) and net interest margin (NIM) and the factor of capital using the ratio of capital adequacy ratio (CAR). The results showed that there are several banks which have "Less Healthy", "Healthy Enough", "Pretty Good". Bank Mandiri, BRI and BNI received the predicate of "Pretty Good" in risk profile factor for liquidity risk, whereas Bank BTN received the predicate of "Healthy Enough". Also, Bank BTN received the predicate of "Healthy Enough" and "Pretty Good" in earnings factor specifically ROA and GCG factor. Keywords:Indonesia Stock Exchange LQ45 Index, Health Level of Banks, Risk Based Bank Rating (RBBR) Model.

scholarly journals Pengaruh Risk Profile, Good Corporate Governance, Earning, Capital terhadap Value of Firm di Bursa Efek Indonesia

2020 ◽  
Vol 9 (2) ◽  
pp. 137
Author(s):  
Rhevinalda Bima Prakarsa ◽  
Winwin Yadiati ◽  
N. R. Handiani Suciati
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Banking Sector ◽  
Stock Exchange ◽  
Risk Profile ◽  
Capital Adequacy ◽  
Estimation Model ◽  
Self Assessment ◽  
Good Corporate Governance ◽  
Asset Quality

<em>The purpose of the company is to increase the firm value. But in the last six years, firm value of the banking sector has fluctuated and even tends to decrease. The level of banking health can be expected to increase the firm value. The level of banking health can be measured using Risk Profile (RP), Good Corporate Governance (GCG), Earning, Capital (RGEC) method which is the latest formula after Capital, Asset Quality, Management, Earning, Liquidity (CAMEL). The purpose of this study was to determine effect of the banking health on the firm value. The research method uses partial panel data regression through the determination of estimation model and classical assumption test in advance using 33 banks listed on Indonesia Stock Exchange (IDX). The results showed that there was significant and positive effect between Return on Asset (ROA) and Capital Adequacy Ratio (CAR) on firm value. Beside, there was positive but not significant effect between GCG and risk profile on firm value. The results showed that capital is a factor of business developer and company earnings can show as a signal of quality prospects. The application of GCG is not a significant influence because the results of self-assessment are not in accordance with fraud that occurs. Banks must be able to manage their risk, so that the risk can be an encouragement for them to produce high values.</em>

scholarly journals Measurement of Financial Soundness of Life Insurance Companies in Bangladesh: An Empirical Study

2021 ◽  
pp. 29-43
Author(s):  
Dr. Razu Ahmed
Keyword(s):  
Life Insurance ◽  
Stock Exchange ◽  
Secondary Data ◽  
Capital Adequacy ◽  
Annual Reports ◽  
Insurance Companies ◽  
Financial Health ◽  
Financial Soundness ◽  
Depth Study ◽  
Z Scores

Purpose: The study strives to measure insurance companies’ financial soundness in Bangladesh with reference to private sector life insurance companies listed in the Dhaka Stock Exchange (DSE). Methods: CARAMELS ratio analysis and multiple discriminate analysis (MDA) have been employed to determine the results using secondary data sources collected from annual reports for ten-year DSE listed companies. Findings: The study identified a satisfactory capital adequacy ratio (CAR) with a decreasing trend. Reinsurance and actuarial ratio indicate that companies hardly participate in reinsurance. In most cases, all selected companies’ expense ratio during the study period is more than the standard (20 %) of the Insurance Development and Regulatory Authority (IDRA). All the selected insurance companies hold more liquid assets than the necessity. Z scores depicted that all the selected companies are potentially sick position in terms of financial health. Originality/Value: This study measured the financial soundness of life insurance companies in Bangladesh. No in-depth study was conducted in Bangladesh, particularly on measuring the financial soundness of life insurance companies.

scholarly journals Is Sales Growth Of Companies Listed On The Warsaw Stock Exchange Mean-Reverting?

2011 ◽  
Vol 10 (1) ◽  
Author(s):  
Jacek Welc
Keyword(s):  
Empirical Research ◽  
Stock Exchange ◽  
Strong Tendency ◽  
Sales Growth ◽  
Average Growth ◽  
Earnings Growth ◽  
Warsaw Stock Exchange ◽  
The Mean

Empirical research shows that corporate financial results (measured by sales growth, profitability, earnings growth, leverage, etc.) are characterized by the long-term reversion toward the levels average for the whole economy. In the case of sales growth this means that companies which in a given year show above-average growth in the following periods express the tendency to show slower pace of this growth and companies which in a given year show below-average growth in the following periods express the tendency to show faster pace of growth. In the paper we explore the reversion toward the mean of the sales growth of companies listed on the Warsaw Stock Exchange in the period of 2001-2009. The research confirmed the strong tendency of sales growth to revert toward the mean.

scholarly journals The disclosure of events after the reporting period. The example of listed companies from selected European countries

2020 ◽  
Vol 109 (165) ◽  
pp. 139-156
Author(s):  
Małgorzata Szulc ◽  
Paweł Zieniuk
Keyword(s):  
Empirical Research ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
Listed Companies ◽  
European Countries ◽  
Stock Exchanges ◽  
Financial Reports ◽  
Financial Reporting Standards ◽  
Warsaw Stock Exchange

Purpose: The aim of this article is to present a practical study of disclosures of events after the reporting period in the financial reports of listed companies from selected European countries. The paper presents the results of empirical research based on the source material in the form of financial statements for the year 2018 of listed companies included on the following stock exchange indices: DAX, PSI-20, OMX25, BUX, WIG20, which comprise companies listed on the stock exchanges in Germany, Portugal, Denmark, Hungary and Poland. Methodology/approach: The research sample includes 110 companies. Content analysis of full versions of individual financial statements was performed. Findings: The results show that listed companies comply with the International Financial Reporting Standards regarding the disclo-sure of events after the reporting period. The occurrence of such events in the business practice of com-panies listed on the Warsaw Stock Exchange is much more frequent than in other European countries. The results of the study also present the diversity of events disclosed by respective companies included in the sample after the reporting period. Originality/value: The research allowed us to compare the scope of financial reporting disclosures of events after the reporting period in companies listed on the Warsaw Stock Exchange and in other European companies. Comparisons of this kind have not yet been carried out in international empirical research, which makes this article all the more valuable.

scholarly journals Condition of banks listed on the Warsaw Stock Exchange during the first 3 months of the pandemic in Poland

2020 ◽  
Vol 2/2020 (14) ◽  
pp. 5-20
Author(s):  
Zbigniew Korzeb ◽  
◽  
Paweł Niedziółka ◽  
Keyword(s):  
Banking Sector ◽  
Stock Exchange ◽  
Operational Efficiency ◽  
Capital Adequacy ◽  
Sharp Drop ◽  
Warsaw Stock Exchange ◽  
Additional Costs ◽  
Small Banks ◽  
The Cost ◽  
Credit Portfolio

The aim of the paper is to assess the condition of commercial banks listed on the Warsaw Stock Exchange after the first three months of the COVID-19 pandemic in Poland. The consolidated results for Q1 and Q2 2020 were used focusing on selected evaluation areas such as: capital adequacy, profitability, liquidity, credit portfolio quality as well as operational efficiency. The authors concluded that as a result of the credit crunch and the retention of previously earned profits, almost every medium (except for mBank SA) and every large bank experienced an increase in capital adequacy ratios. Moreover, the profitability of the banking sector eroded in each group of banks, with the rule that ROE is higher in the group of medium and large banks compared to the small ones. With the exception of Idea Bank SA all banks during the pandemic experienced an improvement in liquidity ratios. There was reported an increase in the cost of risk, with the greatest augmentation in small banks. It is maintained that the larger the bank the lower cost of risk. In almost every institution, the risk is mitigated by an increase in the degree of coverage by provisions for impaired receivables. In small banks there was noticed a deterioration in operational efficiency. In medium and large banks, despite a sharp drop in profits and additional costs associated with the pandemic, the process of efficiency improvement was reinforced.

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