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

Results found: 6

first rewind previous Page / 1 next fast forward last

Search results

help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
EN
The capital consolidation taking place for many decades also concerns the banking sector. All the expectations about possible profits from mergers and acquisitions among banks didn't appear. Such situation challenged the sense of consolidation despite of its offensive nature. There is an attempt of the arguing with actual ideas about the mergers and acquisitions profitability criteria, focused on the financial analysis, in this paper. Some hypothetical mergers and acquisitions profitability measures were also presented.
EN
Choosing the way of financing merger or acquisition, company can plan its further financial situation and possible influence of managing the consolidated entity. There is another problem besides the financing decision during every consolidation: how to pay for a taken over company. There are many ways to do it. The most taken advantage of them are presented in this paper. Decision which of them should be used depends on one situation: hostility of consolidation. During friendly merger all participants can adjust payment method to best conditions for all of them. When the company plans to take over another in hostile way, all necessary assets have to be accumulated proper attack. This paper tries to describe which of presented payment methods are advisable in specific consolidation situation.
EN
Companies doing well have to develop constantly. The problem is the good choice between many ways o f development. This decision mostly depends on peculiar company’s situation (market participation, accessible financial resources, etc.). The purpose of this article is to examine two ways o f company’s development: take-overs and strategic alliances. The first one allows the dominant company to establish close control o f the subordinated entity, but it also involves many risks. The take-over transaction may turn to be unprofitable due to its high costs. The alternative way o f company’s development seems to be strategic alliance. It requires companies to co-operate and share owned resources with the ally to achieve the common aim. This solution does not let entities entirely control the associate, but it is much cheaper in comparison to the take-over. The allies use their different economic strengths to cut the R&D costs and strengthen the competitive position.
EN
Most of the experts say, that any decision concerning external development should be based on valuation both acquiring and acquired enterprises. If the value of both separated firms is lower than the one after the combination, we can prove the positive effect of acquisition and find it profitable. But what the value of firm really means? How it can be found? And after all, is there no doubt the appointed figure shows the real value of an enterprise and its business? What author tried to do in the article is to show how different the value can be comprehended. Since the valuation is so ambiguous, profitable of merger or acquisition is very difficult to establish. This is the limiting aspect of any external development decision.
EN
In the conditions of increasing environmental threats that arise from overexploitation of the environment and business activity the idea of implementation and functioning of environmental management system (EMS) in enterprises is getting more popular. Taking into account these expectations, as well as the desire to generate profits, companies should use instruments by which they can manage their goals in a sustainable way. The main aim of the article is to present the role and benefits of implementation and functioning EMS compliant with the ISO 14001 standard, EMAS (in force only in EU countries), as well as programs: Cleaner Production and Responsible Care. The Authors focus on EMS scale, problems and meaning for companies functioning in contemporary globalizing world.
EN
There were significant changes in the range of the information access observed during last two decades. It has determined growth of the international capital exchange. The effect of such situation is raising foreign investors’ participation in exchanges’ turnover. The monetary union in Europe indeed decreased FX risk in euro zone additionally. The goal of this paper is to analyze how the introduction of the euro influenced on stock exchange volatility. The hypothesis about the introduction of the euro stabilizing influence on euro zone stock exchanges volatility verification has been undertaken. The previous research does not fully confirm legitimacy of this opinion. The occurrence of such influence possibility has been proved, but the researchers are far from straight generalizations. The empirical analysis conducted in the article did not prove the hypothesis about the introduction of the euro stabilizing influence on euro zone stock exchanges with no doubts. There were some stock exchanges lowering their volatility after EMU accession analyzed in the paper, but we also find some others that such situation did not appear. Strong positive verification of Authors’ hypothesis cannot be done. However the hypothesis about the introduction of the euro stabilizing influence on euro zone stock exchanges volatility may be verified empirically. Although some other important stock exchange volatility determinants, strengthening or reducing the role of euro, may be omitted.
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.