Journals UITM University of Information Technology and Management
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BARIERY ROZWOJU RYNKU KREDYTÓW HIPOTECZNYCH UDZIELANYCH
Get PDFKredyty hipoteczne stanowią jedną z najpopularniejszych form finansowania potrzeb mieszkaniowych osób fizycznych. Rozwój rynku kredytów hipotecznych w Polsce został zapoczątkowany w latach 90. XX w. i utrzymuje tendencję wzrostową zarówno pod względem liczby, jak i wartości udzielanych kredytów hipotecznych. Obecnie polska gospodarka charakteryzuje się o wiele większą stabilnością, niż kilkanaście lat temu. Jedną z przyczyn takiej sytuacji jest przystąpienie Polski do Unii Europejskiej, które poprzedzone zostało procesem dostosowawczym polskiego sektora bankowego do wymogów stawianych przez regulacje unijne. Konsekwencją tych działań jest utrzymujący się od 5 lat, spadkowy trend stóp procentowych, który znacząco wpłynął na atrakcyjność kredytu hipotecznego. Jednak w początkowym okresie funkcjonowania rynku kredytów hipotecznych warunki ekonomiczne i prawne w Polsce nie były wystarczająco atrakcyjne, aby sprzyjać jego systematycznemu rozwojowi. Mimo obserwowanego, znacznego wzrostu udziału wartości udzielonych kredytów hipotecznych, zarówno w aktywach banków, jak i w PKB, nadal funkcjonują niektóre bariery dynamicznego i prawidłowego rozwoju rynku kredytów hipotecznych. Celem niniejszego opracowania, skoncentrowanego na specyfice polskiego rynku kredytów hipotecznych udzielanych na cele mieszkaniowe, będzie przedstawienie istniejących i pokonanych już przeszkód jego rozwoju
Dynamic Interrelationships among Bitcoin, Bonds, and Sectoral Indices in India: Evidence from Pre- and Post-COVID-19
Get PDFThis study employs the Maximal Overlap Discrete Wavelet Transform technique to analyze the wavelet-based correlations between Bitcoin, bond markets, and thirteen sectoral stock indices in India over the period from 2017 to 2023, focusing on the comparison of pre-and post-COVID-19 pandemic effects. The aim is to investigate the dynamic interrelationships and to understand the impact of the COVID-19 pandemic on these financial assets. The study period is divided into preCOVID-19 and post-COVID-19. Findings from the study reveal a minimal negative correlation between Bitcoin, bond markets, and the sectoral stock indices in the pre-COVID era, indicating a lack of significant interdependence among these assets. However, the scenario changes markedly in the post-COVID period, shifting towards a positive correlation. This shift suggests that the COVID-19 pandemic has altered the relationship dynamics, leading to a more interconnected financial environment where movements in Bitcoin have begun to show a significant positive correlation with the movements in bond and sectoral stock indices in India. The study contributes to the existing literature by providing empirical evidence of how external shocks, such as the COVID-19 pandemic, can influence the correlation patterns among different financial assets. It highlights the importance of considering the changing dynamics in financial market correlations for investors, policymakers, and researchers in portfolio diversification, risk management, and financial stability analysis. Further, it underscores the role of alternative investments like Bitcoin in the evolving market landscape, particularly in response to global crises
BRIDGING PROSPERITY: UNRAVELLING THE INTERPLAY OF PUBLIC BORROWING, GROSS CAPITAL FORMATION, AND ECONOMIC GROWTH IN THE NEPALESE ECONOMY
Get PDFThis study investigates the impact of public borrowing and total capital formation on Nepal’s economic growth. The analysis relies on secondary data from publications from the Nepal Rastra Bank and economic surveys conducted in Nepal. The dataset has 34 consecutive yearly data points from 1988/89 to 2021/22. A causal correlational research design is used. It is guided by positivist research philosophy and deductive reasoning. The robust least square method is employed to explore the impact of independent variables. Research indicates that public debt and capital formation favourably and significantly affect Nepal’s economic growth. The study demonstrates that a one-unit rise in public debt and capital formation leads to 0.2881 and 0.6205 unit increases in Nepal’s economic growth, respectively. The positive impact of capital formation is more effective than public borrowing in promoting the economic growth of Nepal. Policymakers should focus on creating a business-friendly environment, enacting growth-oriented fiscal and monetary policies, efficiently allocating resources for infrastructure and technology, and managing public debt prudently to ensure sustainable and equitable economic development
Mathematical Thinking for Sustainable Development
Get PDFThe Earth is on the verge of losing stable and human-friendly living conditions. Human activity, which is degrading the environment on a planetary scale and causing climate warming, is bringing about this. For over 3 billion years, interactions between the geosphere and the biosphere controlled global environmental conditions. The state of the Earth's system changed due to forces caused by external disturbances or internal processes within the geosphere or biosphere. Today, however, there is a new force—human activity—and the anthroposphere has become an additional functional element of the Earth system, capable of altering its state (Richardson et al., 2023). The climate and environmental crisis requires swift and effective action—transforming the economy and businesses, enacting wise legal regulations, and, most importantly, driving social change towards responsible consumption and pro-environmental attitudes. However, knowledge about the environmental crisis does not sufficiently permeate social awareness. While some improvement is visible, much must be done (Stefaniuk, 2021). People struggle to access accurate information amidst the flood of ecological fake news, and they have difficulty understanding how their daily choices and activities contribute to environmental degradation, as well as the consequences this brings for them and the planet. Environmental education, which is insufficient in schools, does not help (Gosek, 2023).The implementation of the concept of sustainable development, which emerged as a remedy for the crisis and was intended to lead to economic and social changes, continues to face numerous obstacles despite the efforts of communities and states. The ease with which disruptions in action are justified by external factors, such as the COVID-19 pandemic, is noticeable (Council of Ministers..., 2023, pp. 13-14). It also seems that there is a lack of understanding of the interdependencies between the Sustainable Development Goals. Recognising these connections and strategically planning for them would enable better control over their implementation. However, this requires specific cognitive competencies that allow these relationships to be decoded.This paper aims to demonstrate how mathematical and systems thinking can support the resolution of the environmental crisis and enhance the effectiveness of implementing sustainable development principles. The study employs an analytical-synthetic method based on literature and reports. The starting point is a synthetic overview of the contemporary climate and environmental crisis and the challenges in implementing sustainable development. In the next step, systems thinking and mathematical thinking are applied to understand the causes of the crisis and the barriers to sustainable development implementation. The analysis shows that effectively overcoming the crisis requires understanding the complexity of systems (natural and their connected systems—social and economic) and the intricate interactions between the Sustainable Development Goals. For this, systems thinking, supported by mathematical thinking, is essential. Developing these competencies is therefore crucial in education for sustainable development and is one of the conditions for successfully addressing the climate and environmental crisis
INTERNAL FUNDING IN THE DAIRY INDUSTRY COMPANIES IN THE PODLASKIE PROVINCE IN 2010-2012
Get PDFSelection of appropriate funding sources for company assets is one of the most important decisions taken by a company. The right capital structure and in particular the relevant relationship between own and external sources of financing have a significant impact on the financial results. The purpose of this paper is to analyze the use of own resources in the funding of assets in the dairy industry in the Podlaskie Province in 2010-2012. The information included in the financial statements of the surveyed companies, as well as secondary data included in the studies of the CSO, was used in the paper
SIGNIFICANCE OF THE ACCOUNTING PARADIGM IN THE DECISION-MAKING PROCESS IN COMPANY MANAGEMENT: BASED ONIAS ACCOUNTING PRACTICES IN POLAND AND OTHER COUNTRIES
Get PDFIn this article, we analyze the relations between modern trends in accounting and the decisionmaking process based on the classic profit-opportunity-cost-risk construction. In this aspect, four main types of accounting practices may be distinguished: bookkeeping (classic accounting), accounting engineering, creative accounting, and praxeological accounting. This study complements the author’s series of publications on accounting engineering (which is herein defined as a concept), the structure of economic auxiliary sciences, and causal relations in management practice and theory based on Bertalanffy’s general systems theory. The article covers accounting systems which emerged as a result of combining IAS solutions with domestic accounting standards and balance laws, and relates primarily to accounting theory and practice in Poland. Nevertheless, the Polish system is rooted in accounting solutions previously used in other countries, and as such may be perceived as more utilitarian, also on an international scale
IMPLEMENTATION OF THE DELPHI TECHNIQUE IN FINANCE
Get PDFIn the rapidly developing world, forecasting is very important for numerous aspects of our lives,the finance realm not being an exception. Various qualitative and quantitative methods are used to predict what is ahead. One of them is the Delphi method, an anonymous, structured discussion among experts on the forecasted topic. Developed over 60 years ago, it is one of the most effective qualitative forecasting and decision-making techniques. That said, literature review suggests Delphi’s advantages have not been sufficiently utilized in financial research. This paper is an introduction to Delphi with a focus on the method’s application possibilities in finance and related disciplines. For this purpose, we performed a literature review and presented a step-by-step guide for implementing the Delphi technique, describing a structure of the Delphi process, major principles of Delphi, experts’ selection, Delphi types, ways of establishing consensus, validity of the method among others. Finally, we focused on implementing Delphi in finance and offered example topics that could be studied with Delphi
DEBT COLLECTION PREVENTION MANAGEMENT OF RECEIVABLES/DEBTS IN A COMPANY
Get PDFThe maintenance of financial liquidity, stability, profitability and the value and investment capabilities of a company as well as the avoidance of financial bottlenecks are the most vital objectives of people in charge of ac ompany, especially in times of crisis. This paper presents the receivables/debts management system known as Debt Collection Prevention, which is understood as a method of achieving the above mentioned goals. With the help of analysis and differentiation, the author argues that all individual management activities are short of effectiveness and efficiency unless a systemic approach is applied. To highlight this point, the author has indicated substantial differences in the management of financial risk and in shaping managerial decisions with- and without the application of the Debt Collection Prevention system, which can be characterized as a systemic approach with regard to praxeology
INFLUENCE OF THE ECONOMIC AND FINANCIAL CONDITION OF STRATEGIC SHAREHOLDERS UPON THE MARKET VALUE OF COMMERCIAL BANKS IN THE POLISH BANKING SECTOR
Get PDFThe objective of the paper is to analyse the influence of information about economic and financial problems of strategic shareholders upon the market value of commercial banks operating in the Polish banking sector. The analysis included fourteen such cases from the years 2007-2014. The results clearly indicate that investors consider the foundations of the operation of commercial banks in Poland to be very solid. Problems of strategic shareholders led to only slight depreciation of the banks’ securities quoted at the Warsaw Stock Exchange in the period directly after publication of the information. Investors decided that problems of parent companies were unlikely to threaten the stability of banks operating in the Polish banking sector
USE OF STATISTICAL METHODS IN DETECTING ACCOUNTING ENGINEERING ACTIVITIES (AS EXEMPLIFIED BY THE ACCOUNTING SYSTEM IN POLAND) – SECOND PART: EMPIRICAL ASPECTS OF ANALYSIS
Get PDFThis article is one in a series of two publications concerning detection of accounting engineering operations in use. Its conclusions and methods may be applied to external auditing procedures. The aim of the present duo-article is to define a method of statistical analysis that could identify procedures falling within the scope of a framework herein defined as accounting engineering. This model for analysis is meant to be employed in these aspects of initial financial and accounting audit in a business enterprise that have to do with isolating the influence of variant accounting solutions, which are a consequence of the settlement method chosen by the enterprise. Materials for statistical analysis were divided into groups according to the field in which a given company operated. In this article, we accept and elaborate on the premise that significant differences in financial results may be solely a result of either expansive policy on new markets or the acquisition of cheaper sources for operating activities. In the remaining cases, the choice of valuation and settlement methods becomes crucial; the greater the deviations, the more essential this choice becomes. Even though the research materials we analyze are regionally-conditioned, the model may find its application in other accounting systems, provided that it has been appropriately implemented. Furthermore, the article defines an innovative concept of variant accounting