Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 4

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  investment opportunities
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
EN
The article deals with relationships between human capital and social capital. Often is mentioned that presence of social capital is key condition of success investment in human capital. The article presents opposite view – investments in human capital are necessary condition investments in social capital (at least in individual social capital). The three main form of social capital (bonding, bridging and linking social capital) are described at it is shown when generating each form can generate individuals profit and utility – in each case individuals must also invest in their human capital. Investments in human capital can also respond to the situation when investments in social capital become obsolete or devalue.
EN
This paper analyses the influence of ownership, board of directors, and financial leverage on companies’ performance when these either face, or do not face, profitable growth opportunities. Towards that end we examined a sample of 83 listed Mexican firms during the period 2005-2011. The results confirm the relevance of debt and board of directors in terms of firm market value by showing a negative relationship between performance and both, board of directors and leverage, in the presence of growth opportunities. In contrast, the relationship between debt and performance becomes positive when firms have no profitable investment projects. The results also demonstrate that the relevance of controlling shareholders on firm value is different when firms have or not growth opportunities. Therefore, our results show that ownership structure, composition and size of board and the level of leverage play a dual role on performance (increase or decrease the firm value) and determinewhether the firms have profitable investment projects.
PL
Celem artykułu było wyjaśnienie roli jaką pełnią obligacje zamienne z opcją call w procesie inwestycyjnym współczesnych przedsiębiorstw. Analiza obejmowała 1705 emisji długu hybrydowego przeprowadzonych w latach 2004–2014 przez przedsiębiorstwa produkcyjne i usługowe mające swoją siedzibę w Stanach Zjednoczonych (1138 emisji), Europie (270 emisji) i Azji (297 emisji). Otrzymane wyniki pozwalają przypuszczać, że na emisję obligacji zamiennych z opcją call z myślą o zdobyciu funduszy na sfinansowanie nowych inwestycji decydują się przede wszystkim spółki amerykańskie i europejskie, a realizacja nowych projektów najprawdopodobniej ma przyczynić się do poprawy ich złych wyników finansowych. Wydaje się, że podobna strategia nie jest prowadzona przez przedsiębiorstwa azjatyckie, które mogą dokonywać emisji długu zamiennego w celach innych niż inwestycyjne.
EN
Using a sample of 1,705 convertible bonds issued by manufacturing and service companies from the United States (1,138 issues); Europe (270); and Asia (297) between 2004 and 2014 this paper investigates the role of callable convertibles in the corporate investment process. This research shows first that callable convertibles are used to finance investment projects particularly by American firms which may exercise new investment options to improve poor financial performance. Secondly, the same strategy may be followed by European companies, but they seem not to carry out investments on as large a scale as American firms. Thirdly, the research results do not provide evidence that Asian enterprises use callable convertibles for investment purposes: they likely use these instruments for different reasons.
EN
The factors of the influence of the external environment on the strategy of financial support as an integral part of the strategy of innovative agricultural engineering development have been considered. The stages of its formation with focus on market conditions have been determined. The directions of the implementation of the strategy for financial support for innovative agricultural engineering development have been described, the conditions of participation of investors and the mechanism of its implementation have been presented.
PL
Uwzględniono wpływ czynników środowiska na strategię wsparcia finansowego jako integralną część strategii rozwoju innowacji maszyn rolniczych. Wyznaczono etapy jej powstawania z naciskiem na warunki rynkowe. Opisano kierunki realizacji strategii wsparcia finansowego dla innowacyjnego rozwoju inżynierii rolniczej, warunki uczest-nictwa inwestorów oraz przedstawiono mechanizm jej realizacji.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.