The ineffectiveness of state as a controller and owner

The global market is largely a game without rules and without an arbitrator able to dispense necessary medicine. Undoubtedly, the crisis has caused the emergence of new challenges, which require the active role of the state in various areas. States play the role of owners of companies and market regulators. Unfortunately governments were not performing these functions adequately. Those therefore, who themselves committed many mistakes, must improve not just the mis-functioning market, but also a defectively functioning state; or, to put it otherwise, they must improve themselves.state; capital markets; regulations; financial crisis;

The impact of institutional investors and increasingly sophisticated financial instruments on risk and leverage

The volatility of capital markets is often blamed on the activities of institutional investors, or an excessive amount of financial instruments. It must be remembered that there are different institutional investors. Some of them play a very useful role without having a negative impact on the stability of the capital market. The same is true various instruments, many of them play a useful role. Many companies have long used derivatives to hedge against business risks, using them to manage fluctuations in exchange rates, interest rates, commodity prices, etc.investment banks; institutional investors; financial instruments; risk; leverage; financial crises;

Communication of companies with their surroundings - the manipulation of information and information asymmetry

Creative accounting, the bankruptcy of many companies, and ongoing litigations made rapid rebuilding of investor relations imperative. Growing importance of institutional investors, who have high information needs, also impacted this process. Thus, the needs for communication with investors and reducing information asymmetry problems have become key issues in the capital markets. The traditional model of reporting was based largely on information relating to past events (financial accounting). Commonly, there was inadequate consideration of non-financial information impacting the development of goodwill in the future. Some information was published with considerable delay. This facilitated the use of confidential information by those who had previous access to it.information assymetry; investment advisers; credit rating; aggressive accounting; confidential information; international accounting standards; financial crises;

Communication of companies with their surroundings - the manipulation of information and information asymmetry

Creative accounting, the bankruptcy of many companies, and ongoing litigations made rapid rebuilding of investor relations imperative. Growing importance of institutional investors, who have high information needs, also impacted this process. Thus, the needs for communication with investors and reducing information asymmetry problems have become key issues in the capital markets. The traditional model of reporting was based largely on information relating to past events (financial accounting). Commonly, there was inadequate consideration of non-financial information impacting the development of goodwill in the future. Some information was published with considerable delay. This facilitated the use of confidential information by those who had previous access to it

The ineffectiveness of state as a controller and owner

The global market is largely a game without rules and without an arbitrator able to dispense necessary medicine. Undoubtedly, the crisis has caused the emergence of new challenges, which require the active role of the state in various areas. States play the role of owners of companies and market regulators. Unfortunately governments were not performing these functions adequately. Those therefore, who themselves committed many mistakes, must improve not just the mis-functioning market, but also a defectively functioning state; or, to put it otherwise, they must improve themselves

The impact of institutional investors and increasingly sophisticated financial instruments on risk and leverage

The volatility of capital markets is often blamed on the activities of institutional investors, or an excessive amount of financial instruments. It must be remembered that there are different institutional investors. Some of them play a very useful role without having a negative impact on the stability of the capital market. The same is true various instruments, many of them play a useful role. Many companies have long used derivatives to hedge against business risks, using them to manage fluctuations in exchange rates, interest rates, commodity prices, etc

Od niestabilności do ryzyka – analiza zmienności historycznej indeksów giełdowych

Niestabilność gospodarki światowej powoduje trudności w wycenie instrumentów finansowych i przedsiębiorstw, problemy z ustalaniem wartości zabezpieczenia kredytów i pozyskiwaniem finansowania czyli zwiększa ryzyko. Przeprowadzone przez autora badania zmienności historycznej indeksów giełdowych WIG, NYSE, FTSE100, w oparciu o względne miary zmienności wskazują, że w ostatnich kilku latach nie wystąpiła zwiększona zmienność. Brak podwyższonej zmienności historycznej nie oznacza, że ryzyko również nie uległo zwiększeniu. To, że po 2008 r. nie nastąpił znacznie większy kryzys i zmienność, jest głównie zasługą interwencji państw na niespotykaną wcześniej skalę. Stare problemy jednak pozostały, a państwa są coraz bardziej zadłużone – konkluduje autor

Communication of companies with their surroundings - the manipulation of information and information asymmetry

Creative accounting, the bankruptcy of many companies, and ongoing litigations made rapid rebuilding of investor relations imperative. Growing importance of institutional investors, who have high information needs, also impacted this process. Thus, the needs for communication with investors and reducing information asymmetry problems have become key issues in the capital markets. The traditional model of reporting was based largely on information relating to past events (financial accounting). Commonly, there was inadequate consideration of non-financial information impacting the development of goodwill in the future. Some information was published with considerable delay. This facilitated the use of confidential information by those who had previous access to it

The increasing role of companies valuation in the modern world

Basing on research described in the literature, the author discusses the contemporary scientific theories related to the valuation of companies, and their impact on shareholder value management.Basing on research described in the literature, the author discusses the contemporary scientific theories related to the valuation of companies, and their impact on shareholder value management

The ineffectiveness of state as a controller and owner

The global market is largely a game without rules and without an arbitrator able to dispense necessary medicine. Undoubtedly, the crisis has caused the emergence of new challenges, which require the active role of the state in various areas. States play the role of owners of companies and market regulators. Unfortunately governments were not performing these functions adequately. Those therefore, who themselves committed many mistakes, must improve not just the mis-functioning market, but also a defectively functioning state; or, to put it otherwise, they must improve themselves