Tax optimization of individuals in the context of savings and investing money by bank deposits and T-bonds in Poland

Savings and investing money are key issues for personal finances, strongly corresponding to the economies of developed countries, where citizens have the opportunity not only to settle their liabilities on an ongoing basis from their income, but also to accumulate funds for future plans. They may be aimed at both savings and investment purposes, the degree of risk of which varies depending on the selection of the financial instrument. The paper focuses on the assessment of the profitability of deposits and treasury bonds, in relation to the preferences of Polish customers of commercial banks, under proposed changes in the limitation of capital gains tax

Creating value through synergy in mergers and acquisitions

Mergers and acquisitions are one of the most relevant external ways to increase capital and operational potential of a company. They allow for the development of both individual entities and entire sectors and are made with the goal of improving the company's financial performance. There are many different drivers for potential investors to undertake mergers and acquisitions. One of them is synergy. Synergy is understood as a result of two or more processes interacting together to have an effect that is greater than the effect that those processes make individually. Two or more businesses can merge to form one company that is capable of improving revenue or reducing expenses than either could have been able achieve independently. It refers to the additional value created by a transaction. More and more companies decide to evaluate synergies in their M&A financial forecasts, because they can allocate the available resources, increase revenues and reduce costs, or diversify their activities in more effective way. It is a specific factor that motivates businesses. However, it is important to make calculation to examine its economic sense and reduce potential risk of failure in business. This article focuses on the assessment of synergy and its implications in mergers and acquisitions

Energy Security as a Premise for Mergers and Acquisitions on the Example of the Multi-Energy Concern PKN Orlen in the Face of the Challenges of the 2020s

A concern for ensuring energy security is particularly important in the 2020s, a decade significantly marked by economic and political uncertainty: the coronavirus pandemic, the Russian-Ukrainian war, and inflation turning into stagflation in many markets. Additionally, the national and international climate policy promoting the acquisition of energy from non-renewable sources is only a part of the problem that forces a revision of the direction and degree of diversification of energy sources. States, bearing in mind the inevitability of change, in order to maintain energy security, should not only accurately read these phenomena but also effectively prevent them. One of the available solutions is to build a multi-energy concern to ensure energy independence through diversified production and distribution of electricity and non-renewable fuels. To this end, a large international entity centred around the PKN Orlen group has existed in Poland for several years. The construction of this holding is based on M&A transactions, as effective mechanisms for long-term management, and focused around complementary, in terms of economic activity, market entities—Energa, Lotos and PGNiG. This article focuses on the assessment of the phenomenon of capital concentration in M&A transactions by PKN Orlen, with particular emphasis on the changes in the shaping of energy security in the near future and also on the basis of the directions resulting from government guidelines and policies

Energy Security as a Premise for Mergers and Acquisitions on the Example of the Multi-Energy Concern PKN Orlen in the Face of the Challenges of the 2020s

A concern for ensuring energy security is particularly important in the 2020s, a decade significantly marked by economic and political uncertainty: the coronavirus pandemic, the Russian-Ukrainian war, and inflation turning into stagflation in many markets. Additionally, the national and international climate policy promoting the acquisition of energy from non-renewable sources is only a part of the problem that forces a revision of the direction and degree of diversification of energy sources. States, bearing in mind the inevitability of change, in order to maintain energy security, should not only accurately read these phenomena but also effectively prevent them. One of the available solutions is to build a multi-energy concern to ensure energy independence through diversified production and distribution of electricity and non-renewable fuels. To this end, a large international entity centred around the PKN Orlen group has existed in Poland for several years. The construction of this holding is based on M&A transactions, as effective mechanisms for long-term management, and focused around complementary, in terms of economic activity, market entities—Energa, Lotos and PGNiG. This article focuses on the assessment of the phenomenon of capital concentration in M&A transactions by PKN Orlen, with particular emphasis on the changes in the shaping of energy security in the near future and also on the basis of the directions resulting from government guidelines and policies