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Ochrona inwestora na europejskich alternatywnych systemach obrotu

100%
Fijałkowska D., Muszyński M., Pauka M.
Nauki o Finansach
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2014
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issue 1(18)
40-48
EN
Despite the growing significance of Alternative Investment Markets (AIMs), there are not publications which analyse the key aspects of these markets functioning in the context of corporate governance issues. The aim of this article was the analysis of relations among different corporate governance indicators and between these indicators and the level of investor’s protection on selected European AIMs.
2
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The Impact of Capital on Lending in Economic Downturns and Investor Protection - the Case of Large EU Banks

75%
Olszak M., Pipień M., Roszkowska S., Kowalska I.
Central European Journal of Economic Modelling and Econometrics
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2018
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issue 2
3
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What drives heterogeneity of procyclicality of loan loss provisions in the EU?

75%
Olszak O., Pipień M., Kowalska I., Roszkowska S.
Faculty of Management Working Paper Series
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2014
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issue WPS 3/2014
1-34
EN
Using the two step system GMM Blundell and Bond estimator this paper documents a large cross-bank and cross-country variation in the relationship between loan loss provisions (LLP) and the business cycle and explores bank management specific, bank-activity specific and country specific (institutional and regulatory) features that explain this diversity in the European Union. Our results indicate that LLP in large, publicly traded and commercial banks, as well as in banks reporting consolidated statements, are more procyclical. Better investor protection and more restrictive bank capital regulations reduce the procyclicality of LLP. We do not find support for the view that better quality of market monitoring mitigates the sensitivity of LLP to business cycle. Our findings clearly indicate the empirical importance of income smoothing, capital management and credit risk management for decreased procyclicality of LLP.
4
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Wzrost wartości nominalnej obligacji podporządkowanej – zasadność i konsekwencje

71%
Węgrzyn P.
Kwartalnik Nauk o Przedsiębiorstwie
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2019
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vol. 51
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issue 2
81-90
EN
In 2018, there were many changes in corporate bond market in Poland. One of them was an increase in the nominal value of subordinated bonds issued by some financial institutions to 400 000 PLN. The main aim of the article is to analyze the sense and consequences of the increase in the nominal value of subordinated bond. The author put forward a thesis, which assumes that increase nominal value of these instruments will have a negative impact on the bank bonds market development in Poland.
PL
Rok 2018 obfitował w wiele zmian na rynku obligacji korporacyjnych w Polsce. Jedną z tych zmian było podwyższenie wartości nominalnej pojedynczej obligacji podporządkowanej wyemitowanej przez instytucję finansową do 400 000 zł. Celem artykułu jest analiza zasadności i konsekwencji takiego rozwiązania. Autor postawił hipotezę, że podwyższenie wartości nominalnej tych instrumentów będzie miało negatywny wpływ na rozwój rynku obligacji bankowych w Polsce.
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