Results found: 2

Search results

Search:
in the keywords: Reconciliation

Sort By:

Limit search:

«Beati pacifici: quoniam filii Dei vocabuntur»: Релігійний фактор польсько-українського примирення.

100%

GENYK M.

Historia i Świat

2015

issue 4

357-370

Polish-Ukrainian reconciliation was one of the most momentous events for the East Central Europe in the second half of the 20th century. Religious hierarchs of both nations contributed a lot to interethnic reconciliation. Polish-Ukrainian rapprochement was remarkable for particularly involvement of representatives of the Catholic Church into this process and keeping aloof of Orthodox clergy from normalization of Polish-Ukrainian relations. The recommendations of the Second Vatican Council, encyclicals of Saint John XXIII, Paul VI and John Paul II and implementation of the principle “We forgive and are asking for forgivness” created preconditions for interethnic reconciliation. Saint John XXIII in his encyclical “Pacem in terris” had criticized the idea of peacekeeping by an arms race and the balance of power doctrine – “real and lasting peace between nations must be based not on a balance of power but on mutual confidence”. Activities of Pope John Paul II gave a powerful incentive to Polish-Ukrainian reconciliation. The role of Churches as a kind of people’s diplomacy one could resort to increased when complicated interethnic problems weren’t managed to resolve at government level. The most important actions of Rome Catholic and Greek Catholic Churches in behalf of interethnic rapprochement were celebration of the 1000th Anniversary of the Christianization of Rus'-Ukraine, Eucharistic Congress in 2003, joint appeals on the occasion of Volhynian massacre. The achievement of Polish-Ukrainian reconciliation based on universal values and Christian civilization was an evidence of new European thinking and significant factor of building of the united Europe.

A key factor of the DCF model coherency

100%

Adamczyk P., Zbroszczyk A.

Journal of Economics and Management

2017

vol. 28

5-22

Aim/purpose – The aim of this paper is to provide economically justified evidence that the business value calculated by income valuation methods is the same, regardless of the type of cash flow used in the valuation algorithm. Design/methodology/approach – The evidence was arrived at using free cash flow to equity (FCFE), debt (FCFD) and firm (FCFF). The article draws attention to the FCFF method’s particular popularity in income valuation, based on analysts’ practice. It shows an overview of various approaches to determine the capital structure in the formula for WACC, both in practice and theory. Finally, it examines an empirical example with the authors’ own derivations and postulates. Findings – The conclusion drawn from the conducted analysis is that the key to the reconciliation process, and thus DCF model coherency, is to apply the appropriate method of capital structure estimation during the calculation of the weighted average cost of capital (WACC). This capital structure will henceforth be referred to as ‘income weights’. Research implications/limitations – It should be noted that the obtained compliance of valuation results does not imply that the income valuation becomes an objective way of determining business value. It still remains subjective. Originality/value/contribution – According to the presented approach, the DCF model’s subjectivism is limited to the forecasts. The rest is the algorithm which, based on the principles of mathematics, should be used in the same way in every situation.

Refine search results

1 Historia i Świat

1 Journal of Economics and Management

1 Adamczyk P.

1 GENYK M.

1 Zbroszczyk A.

1 2017

1 2015

Search results

«Beati pacifici: quoniam filii Dei vocabuntur»: Релігійний фактор польсько-українського примирення.

A key factor of the DCF model coherency