Journals UITM University of Information Technology and Management
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POLITICAL RISK ON THE FINANCIAL MARKET The problem of adequate scientific assessment of business operations - the naivety of economists
Get PDFOne of the significant problems of a modern economy and economics is political risk. A destructive influence of politics on the financial market cannot be ignored. It is necessary to indicate some selected specific problems of the financial market connected with politics in the area of: public finance (including EU), monetary policy and capital market. Nowadays, the scale and dynamics of political interference in the economy and finance leads to the problem of rationality in business activities. Moreover, many hidden political factors change the political risk into immeasurable political uncertainty
ENDOGENOUS OR EXOGENOUS INNOVATION DEVELOPMENT IN INDUSTRY ON REGIONAL LEVEL?
Get PDFAt the moment endogenous growth theory has become increasingly popular in the world of science, particularly in developed countries. This article aims to show, for two regions case, the needs and sense of applying this theory in the polish regions. Due to the low level of economic development of many Polish regions, they are unable to growth in a comparable rate as regions in developed countries. This explains the economic divergence between polish regions and the highly developed regions of Europe and the World. Stimulating economic growth is insufficient in such cases, because of the weakness of its internal factors. Therefore it is important to strengthen an external impact to keep internal development. It means that the endogenous growth theory is no reason to exist, in conditions of poor polish regions. Without external inputs there can’t be convergences processes. Therefore, the economic development of the Polish regions should be based on the exogenous growth theory
DEMAND FOR FINANCIAL INFORMATION IN SMALL BUSINESS MANAGEMENT. EMPIRICAL STUDY
Get PDFLimited access of small enterprises to reliable and well-prepared information about their condition is mentioned as one of the main barriers to small business development. One of the key types of information used in management is financial information. It concerns the resources and financial flows in the enterprise. The main goal of the paper is to present the results of the questionnaire survey conducted in mid. 2010 among managers of small enterprises in Poland. The survey was used to recognize the usefulness of financial information in decision-making, to diagnose information needs of entrepreneurs and to identify factors affecting these needs
MODELING STOCK MARKET INDEXES WITH COPULA FUNCTIONS
Get PDFContemporary financial risk management is significantly based on the analysis of time series of returns. One of the most significant errors frequently committed by analysts is the predominant use of normal distributions when it is clear that the returns are not normal. Copula models and models for non-normal multivariate distributions provide new tools to solve the problem because the obtained results are immediately applicable in portfolio management, option pricing and measuring risk without assuming normality. Therefore, both a theoretician and a practitioner are interested in multivariate models for returns and copula functions. The copula function models provide an effective and interesting technique of constructing multivariate distribution starting from marginal ones. Due to Sklar\'s result established in 1959, we can present any multivariate distribution with a help of corresponding marginal distributions and a selected copula function. In this work we present an application of copula function to construct multivariate conditional distributions of times series. In the last part of this paper dynamic models such as DCC-MVGARCH and conditional copula are analyzed. Moreover, we also present an application of bootstrap in the context of copula function. This work is appended by examples showing practical application of our work
Ukrainian companies on the Warsaw Stock Exchange: current state and future trends
Get PDFAs a result of globalization trends many businesses are able to raise capital not only in their domestic market, but also abroad. Among the stock exchanges which have managed to attract foreign companies is the Warsaw Stock Exchange. Over the past few years many companies from Ukraine have chosen to be listed on the Warsaw Stock Exchange. This article provides an analysis of the conditions liked to raising capital for Ukrainian companies on the Polish Market
CONTRACTION OF HEALTH CARE SERVICES PROVISION AS A SOURCE OF HEALTH CARE FACILITIES FINANCING
No full textHealth care facility (In Polish ZOZ) is a basic, yet complex organizational and legal model within which, health service can be provided to patients in Poland. In the light of law ZOZ can receive funds from paid health benefits obtainable on the basis of bilateral agreement. Those contracts include agreement for the provision of health care service concluded between the service provider and the director of provincial department of National Health Fund [In Polish NFZ] (commonly known as a contract). The subject of this paper is to present current legal basis and the rules for entering into agreement with National Health Fund by public and private health care facilities. The aim of this article is to attract the attention to the role of contract with NFZ as of the basic source of financing health care facilities and also to explain methods of financing health services awarded on the basis of contract
STRUCTURAL CHARACTERISTICS OF THE SPANISH ECONOMY
Get PDFThis paper analyses the importance of restructuring the productive model of the manufacturing sector for Spain. It is necessary to create a new planning route with several possibilities in order to homogenize the Spanish economy with the rest of the European economies, giving special priority to a company’s national productivity as the Spanish industry is under transformation. That is why this paper proves the need for special attention to those topics, all of them extremely important for the present and future of internationalization –by means of export or through Foreign Direct Investment- and the competitiveness of the Spanish economy –thanks to its industry
THE ASSESSMENT OF MULTI-CHANNEL DISTRIBUTION MODEL OF BANKING SERVICES IN POLAND
No full textThe paper discusses developing multi-channel distribution strategy by commercial banks. The multi-channel distribution model is defined as activity comprising both electronic channels of distribution and traditional networks of local branches in the process of selling banking services. An increasing level of competition in the banking services industry and development of modern technologies that offer new possibilities of distribution of bank services have led to increased interest of commercial banks in adopting the strategy. Thus, new problems related to information and communication technologies, especially those related to consistency and intercommunication between all the distribution channels, are becoming essential for ensuring customer access to banking services in accord with their needs and expectations. The article briefly presents both the main rationale for the multi-channel distribution strategy, key types of distribution channels used by universal banks operating in Poland and expected changes in the use of different distribution channels by corporate and retail clients of the banks operating in the Polish banking sector. The aim of the article is to provide both a review of the literature on the multi-channel distribution systems as applied to the banking services markets and the results of empirical studies concerning implementation of such strategies in the Polish banking services industry. The empirical study involves both the analysis of distribution channels currently used by universal banks operating in Poland (based on the survey conducted in universal banks operating in Poland)
