330 research outputs found
Analiza procesów M & A na rynku FMCG na przykładzie transakcji przejęcia firmy Gillette przez koncern Procter & Gamble
No full textNiniejsza praca jest poświęcona zagadnieniom fuzji i przejęć na rynku FMCG. Cel badawczy autora stanowiło poznanie przesłanek, korzyści oraz skutków największej w historii transakcji nabycia w branży FMCG- przejęcia firmy Gillette przez koncern Procter & Gamble. Szeroko opisany został kontekst rynkowy, w którym działały oba przedsiębiorstwa. Analizy przeprowadzono w oparciu o literaturę naukową, artykuły prasowe, roczne raporty obu spółek oraz studia przypadków opisujące transakcję. Autor wnioskuje, że przejęcie Gillette było częściowo stymulowane przez zmiany zachodzące w branży FMCG. Pozytywnie zweryfikował motywy transakcji po stronie nabywcy i sprzedawcy oraz stwierdził, że była on opłacalna i uzasadniona ekonomicznie. Potwierdzono też wpływ transakcji na zmiany w branży FMCG i podmioty w niej działające.This Bachelor Thesis describes various aspects of mergers and acquisitions on Fast Moving Consumer Goods Industry market. The author’s main objective was to define premises, advantages and results of the biggest takeover transaction in FMCG sector, which was the Procter & Gamble acquisition of Gillette. The stress was put on the specificity of the market both companies operated in. Analysis were based on scientific literature, articles in review journals, Internet news, companies’ annual reports and cases. Author has concluded that the acquisition of Gillette was partly stimulated by the major changes in FMCG sector. The reasons for the transaction were defined for both parties and verified positively. The transaction was proved to be profitable and beneficial for the consolidated company. Finally, it had also an impact on the situation in FMCG sector and its parties
Intonation of Conversational English (Educated Southern British) by Wiktor Jassem (1952)
No full textBook.Author: Jassem, Wiktor.Date: 1952.Title: Intonation of Colloquial English (Educated Southern British).Publisher: Wrocław, Nakładem Wrocławskiego Towarzystwa Naukowego; Skład Glówny: Dom Ksiązki.Series: Prace Wrockławskiego Towarzystwa Naukowego. Travaux de la Société des Sciences et de Lettres de Wrockław Seria A.Number: 45.Pages: 122Livre.Auteur: Jassem, Wiktor.Date: 1952.Titre: Intonation of Colloquial English (Educated Southern British).Editeur: Wrocław, Nakładem Wrocławskiego Towarzystwa Naukowego; Skład Glówny: Dom Ksiązki.Series: Prace Wrockławskiego Towarzystwa Naukowego. Travaux de la Société des Sciences et de Lettres de Wrockław Seria A.Numéro: 45.Pages: 12
Faktoring samorządowy – nowość na polskim rynku faktoringu
No full textFactoring samorządowy to jedna z najnowszych metod finansowania przedsiębiorstwa. Pozwala na poprawienie płynności finansowej oraz niesie ze sobą szereg wielu innych korzyści. Usługa ta, w okresie obecnego kryzysu gospodarczego pozwala na sprawne funkcjonowanie organizacji. Niniejsza praca zgłębia pojęcia z nią związane oraz przedstawia szereg przykładów odzwierciedlających jej funkcjonowanie. W pracy omówiono zagadnienie factoringu samorządowego, w oparciu o literaturę polską i obcą. Głównym celem pracy było zbadanie skali zastosowania usługi factoringowej przez jednostki samorządu terytorialnego powiatu nowosądeckiego oraz poznanie przyczyn jej słabej powszechności. W pracy określono również cele szczegółowe tj. zapoznanie się ze źródłami finansowania inwestycji gminnych, określenie rodzaju tych inwestycji, poznanie opinii pracowników gminnych na temat usługi factoringu, przedstawienie wad i zalet factoringu samorządowego, ocena poziomu wiedzy pracowników gmin z zakresu factoringu. Do osiągnięcia powyższych celów została zastosowana metoda sondażu, a wybraną techniką była ankieta. Dane zgromadzono za pomocą kwestionariusza. Pochodziły one z trzynastu gmin powiatu nowosądeckiego, województwa małopolskiego. Ankieta była anonimowa co zapewniło rzetelność udzielanych odpowiedzi przez ankieterów. Na podstawie analizy uzyskanych wyników jednoznacznie stwierdzono, że factoring samorządowy nie jest stosowany przez gminy w wybranego rejonu. Ukazano również szereg przyczyn wpływających na taką, a nie inną sytuację. Oceniono podejście pracowników do wykorzystywania factoringu samorządowego oraz określono jego korzyść dla przedsiębiorstwa
Wiktor Grygorenko
No full textWiktor Grygorenko was born on March 6, 1927. He passed his final high school exam in Katowice in 1949 and after a military training he began his studies at the Military School of Topographers. Then he studied geodesy at the Military Engineering Academy in Moscow. Having returned to Warsaw in 1959, he worked in the Military Cartographic Works and later in the Topographic Board of the General Staff of the Polish Army. Simultaneously, he took a lecturer post at the Military Technical Academy in Warsaw where he elaborated student textbooks on maps editing, cartographic reproduction, and mathematical cartography. His comprehensive manual Elaboration of general geographical maps was published in 1970. He was a member of the editorial staff at the popular World Atlas, published in 1962-1968 and also known under the name of Pergamon World Atlas. A new and innovative projection devised by Wiktor Grygorenko was used in the World Atlas, nowadays known as the projection of the Polish Army Topographical Service. In 1971 he obtained the degree of a Doctor of Technical Sciences in cartography at the Warsaw University of Technology. The subject of his thesis were theoretical fundamentals of the automatic cartographic data processing. Wiktor Grygorenko was one of the Polish pioneers of computer usage in cartography and was the author of many valuable papers on the subject. He began to work at University of Warsaw in 1972, In 1978 he completed his habilitation procedures on the basis of his dissertation entitled Quantitative Parameters of the Cartographic Content Composition in which he formulated the idea of the quantitative model of a map, thus drawing a new direction of theoretical and practical works in cartographic design and evaluation. Many papers on cartographic generalisation with usage of computer methods were created under his guidance. In 1980, three years after the unexpected death of professor Lech Ratajski, Wiktor Grygorenko became the Head of the Chair of Cartography at the Faculty of Geography and Regional Studies. In 1981 he became the Vice-dean for student affairs and served two terms. His first term fell in the difficult period of the martial law when he defended students on many occasions, gaining their gratitude and respect. In autumn 1982 he also became the Head of the Department of Cartography at the Maria Curie-Skłodowska University in Lublin, which he administered until 1992. Making a good use of his broad didactic experience, he published several absorbing articles on educating cartographers with the geographic training. He actively participated in conferences, conventions, and cartographic trainings, animating discussions with his inspiring speeches. In summer 1982, during the 11th conference of the International Cartographic Association in Warsaw he presented the paper Cybernetic model of cartographic communication that was in certain degree a continuation and an explication of professor Lech Ratajski's idea of communication model. The main field of professor Grygorenko's (he obtained the professorship in 1992) scientific interest were theoretical issues related to the automation of the maps editing and usage processes. His interest in the history of cartography resulted in the publication of several interesting papers on the subject and participation in meetings of cartography historians. He served many social functions both at the University of Warsaw and among the geodesists and cartographers. Professor Wiktor Grygorenko died on February 25, 2008
Wiktor Steffen i jego Słownik warmiński
Get PDFThe paper presents Słownik warmiński of Wiktor Steffen as an unique work of the Polish dialect lexicography. It shows also the figures of the author and his brother Augustyn who rendered great service in research of the culture of Warmia. It discusses the editorial principles of the dictionary and its rich content. It relates to the charges of the first critics of the vocabulary. The paper treats Słownik warmiński as a personal, subjective work strongly influenced by the biography of the author – autochthon. It presents the different ways of use the content in the dialectological studies on multi-volume Słownik gwar Ostródzkiego, Warmii i Mazur conducting in the Institute of the Polish Language in the Polish Academy of Science (IJP PAN)
A Small Form – the Big Vision. Medals by Wiktor Tołkin
No full textThe article concerns the medals by Wiktor Tołkin, a sculptor known especially as the author of huge monuments commemorating the victims of the World War II, less known as a medallic artist. His first medallions the artist engraved during the War as a prisoner of Auschwitz-Birkenau – a Nazi concentration camp. Within 40 years the artist became the author of 32 medals of different types: anniversary medals, commemorating medals, and medals of honour. There are a few characteristic subject matters appearing on the medals' surfaces: a city view, a portrait, a human figure, graphic symbols, the Polish emblem… Medals by Wiktor Tołkin are quite far from avant-garde in form, however the artist combines synthesis and decorative forms at the same time. Sometimes he contrasts these both features in one medal: one on the averse and the other one on the reverse. The art of medals is an unappreciated domain by the art historians although it requires an enormous discipline and clarity of composition
Test motywacyjnego systemu płac opartego na EVA™
No full textW pracy podjęto próbę nakreślenia zależności zachodzących między dwiema stosunkowo nowymi koncepcjami w teorii finansów: opcjami realnymi i ekonomiczną wartością dodaną (EVA). Wspomniane zależności są uwydatnione zwłaszcza w sytuacji, gdy EVA wykorzystywana jest jako narzędzie zarządzania wartością firmy lub projektu. W ramach projektowanego motywacyjnego systemu płacowego kluczowym rozwiązaniem jest zestawienie oczekiwanej i faktycznej wartości projektu podjętego do realizacji. Oparty na EVA motywacyjny system płacowy będzie działał dobrze wtedy, gdy funkcja wypłat jest poprawnie zdefiniowana. Jednak jest to szczególnie trudne w sytuacji, gdy w ramach projektu zdefiniowane i analizowane są opcje realne. Opis opcji realnych przedstawiony w niniejszym tekście pokazuje, jak z sukcesem można wdrożyć system płacowy oparty na EVA
QUASI-BETA INDEX: MULTIDIMENSIONAL COMPARATIVE ANALYSIS APPLICATION TO DETERMINE RISK INDEX FOR STOCK INVESTMENTS ON WARSAW STOCK EXCHANGE (Indeks quasi-beta: Wykorzystanie wielowymiarowej analizy porownawczej do wyznaczania indeksu ryzyka inwestycji
No full textCost of capital is the key parameter when evaluating company's financial performance and valuing a firm or a project. The cost of equity calculation methods most commonly used in practice, are based on market data. When such a data is not available, classical methods used to determine required rate of return on equity capital are substituted with techniques based on accounting data. One of these techniques is multidimensional comparative analysis. This text shows an attempt to assess quasi-beta indices using multidimensional comparative analysis. Using five financial ratios calculated for companies from Warsaw Stock Exchange indices WIG20, mWIG40 and sWIG80, risk coefficients were determined as taxonomic measures of development, and then they were compared to traditional beta indices. The final results are promising – the highest values of quasi-beta indices are assigned to companies that are characterized by equally high values of beta coefficients (characterized by high volatility of stock returns compared to volatility of broad market returns)
VOLATILITY - GOOD OR BAD? ANALYSIS OF THE POLISH STOCK MARKET (Zmiennosc - dobra czy zla? Analiza polskiego rynku kapitalowego)
No full textThe application of the Capital Asset Pricing Model, which is a mean-variance technique, requires the distribution of stock returns to be symmetric. Securities traded on many emerging capital markets, including the Warsaw Stock Exchange (WSE), usually do not have such a feature. In these cases, methods of risk evaluation based on semivariance seem to be superior to those based on total variance. Since the ratio of companies having asymmetric stock return distributions is still high (although it is declining each year, proving that the Polish market is becoming increasingly mature year after year), methods based on semivariance (three versions of downside Capital Asset Pricing Model) are used to assess investment risk. The outcomes obtained conclude that the best results for assessing the risk of negative deviations in rate of returns on the Polish capital market is provided by the Bawa and Lindenberg model
Does the definition of the cost of consumer credit according to the regulations support credit decisions? Results of individual in-depth interviews with experts
Get PDFAccording to the regulations in force, including in Poland, loan institutions must disclose the costs of consumer credit. However, these costs can be presented in many ways. By conducting in -depth interviews with experts, we analyse whether the way in which the applicable regulations are imposed supports the credit decisions of the average consumer. Experts' statements show that the regulatory solutions currently in use may deliver far from what is expected. AER, annual effective rate (RRSO in Poland), the key measure of the cost of consumer credit introduced in Poland by the provisions of the Consumer Credit Act, is very ambiguous and, in the opinion of experts, in many cases distorts the actual cost of credit, thus making it difficult for consumers to make rational credit decisions. The conclusions of the study may be of significant importance both for institutions regulating the consumer credit market and for entities operating on this market
- …
