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EASTERN EUROPEAN EQUITY MARKETS AND THE SUBPRIME CRISIS. DOES EMERGING EUROPE STILL OFFER DIVERSIFICATION BENEFITS?

100%
Niemczak K.
Finansowy Kwartalnik Internetowy e-Finanse
|
2010
|
vol. 6
|
issue 3
47-63
EN
The stock markets in Eastern Europe went through a period of rapid growth. Those which joined the EU had to integrate with Western Europe on various levels, which had important implications for their equity price development during the subprime mortgage crisis. The aim of the paper is to analyze the developments in the stock markets of Eastern European countries before and during the subprime crisis and to evaluate the hypothesis of disappearing portfolio diversification opportunities in the region. Through the application of correlation analysis, Markowitz mean variance approach and portfolio optimisation strategy based on the Sharpe ratio, it is shown that diversification opportunities for a US investor in the Eastern European region have largely disappeared.
2

Osoblyvosti investytsiynoyi aktyvnosti v Ukrayini ta yiyi vplyv na investytsiynyy potentsial pidpryyemstv

100%
Moskalenko B. A.
Mekhanizm Rehuluvannya Economiky
|
2014
|
vol. 2 (64)
152-158
EN
Investment potential of the state in general depends on the investment activity of all participants in the investment market; therefore managing investment potential will not be effective without the understanding of the investment market. This paper investigates the dynamics and structure of the investment resources available to Ukrainian enterprises. The main source of investment Ukrainian enterprises choose their own funds, which are the most expensive source of investment as formed by redistributing income from the activity, and the emission of equity securities. State and local budgets have little impact on improving the investment potential, because often intended to support "afloat" unprofitable state enterprises than the latest technological industries. In addition, corruption schemes and abuse of officials in the implementation of government projects do not contribute to the growth and improvement of investment attractiveness and the investment potential. Investments by residents of developed countries are essential to the development of Ukrainian enterprises, but their presence at the moment in the domestic investment market is negligible.
3

Próba pomiaru efektywności funduszy inwestycyjnych w Polsce w latach 1999–2005

100%
Salamaga M.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
|
2011
|
issue 873
95-107
EN
The paper assesses the success of mutual funds in Poland using measures including Sharpe ratio, Treynor ratio, Sharpe’s alpha, Jensen’s alpha. These ratios assess selectivity, which represents the stock picking skill of the fund manager, and the excess return over and above the return required to compensate for the total risk that manager tales. The data used in the paper is taken from the Polish Financial Market from 1999 to 2005.
4

DIVERSIFICATION OF THE INVESTMENTS' EFFECTIVENESS IN SELECTED EU ECONOMIES (Zróznicowanie efektywnosci inwestycji w wybranych gospodarkach EU.)

100%
Gawrycka M., Szymczak A.
Pieniądze i Więź
|
2010
|
vol. 13
|
issue 1(46)
103-112
EN
The assessment of the investments' effectiveness is a key element of investment processes. In order to be comprehensive and exhaustive, it should go beyond the scope of the microeconomic assessment and take into account the macroeconomic calculation of effectiveness. The prerequisite for the effectiveness of investment decisions implemented by private companies is the maximization of the investments return. When attempting to evaluate the effectiveness of investments, on the scale of the economy, it seems significant to look not only for the economic benefits but also for the social advantages that they generate. Undoubtedly, an increase of employment in the economy can be regarded as one of the latter and is a result of the strong correlation between the creation of jobs and economic growth, which in turn depends on the level of investments. However, one should remember that this relationship does not occur in every case; there is a certain level of investment rate, specific for each economy at a given time, which generates jobless economic growth. The reason for this phenomenon is the need to achieve the desired level of investments necessary for a given economy to recreate the previous capital-labour ratio as well as to implement modernisation investments which will result in the modernisation of the economy and an increase of labour productivity, and not in the employment growth. The purpose of this study is to assess the macroeconomic efficiency of investment in the selected EU economies.
5

Inwestycje w gminna infrastrukture techniczna - zarys teoretyczny

100%
Rogowska M.
Biblioteka Regionalisty
|
2010
|
issue 10
185-198
EN
The article presents a theoretical outline of the investment process and its main phases with special attention being paid to chosen aspects of the infrastructural investment process in municipality. The investment process in municipality is very complicated mainly because its elements should be useful for ages. That causes a special need for adjusting infrastructure for future needs.
6

ENVIRONMENT PROTECTION AND INVESTMENTS IN SEWAGE INFRASTRUCTURE IN THE RURAL AREAS OF THE MALOPOLSKA PROVINCE (Ochrona srodowiska a inwestycje w infrastrukture kanalizacyjna obszarów wiejskich wokewództwa malopolskiego)

100%
Dacko M.
Optimum. Studia Ekonomiczne
|
2009
|
issue 2(42)
194-204
EN
Apart from spatial and geographical conditions, technical infrastructure is listed as one of the most important factors stimulating economic and social growth of rural areas. Rural areas with sewage systems are very attractive in economic terms. Regulated waste management directly increases their value. However, it should mostly contribute to improving the condition of the environment. The article discusses issues related to implementing sewage systems in rural areas against a legal, technical and economic background of environment protection.
7

FOREIGN DIRECT INVESTMENTS' EFFICIENCY - REGIONAL DISPARITIES IN ROMANIA (Efektywnosc bezposrednich inwestycji zagranicznych - roznice regionalne w Rumunii)

100%
Voicilas D. M.
Wieś i Rolnictwo
|
2011
|
issue 2(151)
30-41
EN
This paper analyzes the evolution of the Romanian regions during transition under the influence of foreign direct investments (FDI), using efficiency calculations of the macroeconomic indicators. The methodology developed by Romanu & Vasilescu [1993] was chosen because it directly reflects the contribution of the investments into the evolution of macroeconomic indicators and the way in which FDI influenced that evolution. The ratio between the variation of the indicators of effort and effects shows the efficiency and the progress of an effect indicator for every additional value of effort. The level of FDI was adopted to serve as the indicator of effort, whereas gross domestic product (GDP), gross value added (GVA) and formation of gross fixed capital (FGFC) were adopted as the indicators of effect. In the light of such assumptions the evolution of Romanian economic development regions is characterized by huge disparities. The most obvious is the disparity between Bucharest and the rest of the regions. FDI had a strong positive influence on the macroeconomic indicators but the activity became efficient only after 2000.
8
Content available remote

LEVEL OF INVESTMENT ATTRACTIVENESS AND SCALE OF FOREIGN INVESTMENTS DURING THE YEARS 2005-2006

100%
Nazarczuk J. M., Lizinska W.
Olsztyn Economic Journal
|
2009
|
vol. 4
|
issue 1
125-137
EN
Investment attraction of regions demonstrates the ability of areas to attract investment capital. The level of attractiveness alters on account of changing criteria that entrepreneurs consider before establishing a company. These are triggered by the access to factors of production, new technologies, subjective preferences of investors as well as the competition between regions in investment attractiveness. The aim of the article is to present changes in investment attractiveness of regions in Poland, to demonstrate dependence between investment attractiveness and the number of economic entities with foreign capital as well as an attempt to state conditions of future foreign investment inflow to regions. The presented calculations have demonstrated that there is a strong statistical dependency between investment attractiveness and the number of economic entities located in a region. Enterprises with foreign capital were less sensitive to investment attractiveness than enterprises without foreign capital. The investment attractiveness index design methodology, which disallows specific industry location factors being considered as well as the way foreign capital is being attracted, might be the reason for this. Well-prepared sites, having good access to means of transport, preferably with tax relieves are vital to foreign investors for particular investments that are developed. The future inflow of foreign investments may be determined by the investment attractiveness of a region and the level and number of prepared locations where foreign investors will be able to establish an economic entity easily.
9

Otsinky investytsiynoyi pryvablyvosti rehionu: porivnyal'nyy pofaktornyy analiz

100%
Petrovs'ka S. A.
Mekhanizm Rehuluvannya Economiky
|
2012
|
vol. 2 (56)
90-97
EN
The existing scientific and methodological approaches to the evaluation of investment attractiveness of the region are considered. The comparative analysis of descriptive and rating methodologies, domestic approaches and methods of Western agencies is conducted. It was established that the rating methodologies are more visible in obtaining economic results, but do not take into account the regional aspect of the industry, and the methods of Western agencies overcome this shortcoming. It was determined that none of the methodologies do not fully take into account the environmental aspect of the investment attractiveness of the region.
10
Content available remote

POMOC DLA MŁODYCH ROLNIKÓW Z FUNDUSZY UE I ICH WYKORZYSTANIE NA PRZYKŁADZIE PODKARPACIA

100%
Miś T.
Zagadnienia Doradztwa Rolniczego
|
2016
|
issue 2(84)
26-37
EN
Once Polish agriculture became covered by the principles of the EU Common Agriculture Policy (COP), it enforced adaptation activities in farms in order to adjust to the rules of competition on common European market. The paper undertakes an assessment of the participation of young farmers in the absorption of EU funds for new investment in farms in regional frames over the period of 2007-2013 and 2014-2020. The study has shown that regions, which have agriculture with higher economic potential and more favorable agrarian structure (Kujawsko-pomorskie and Wielkopolska), utilize assistance of the EU to higher degree than regions, which have agriculture with weak economic potential and a small-farm structure. It applies in particular to agriculture of south-eastern Poland (Podkarpackie and Malopolska), which, because of structural restrictions, its low profitability and other restrictions, is unable to utilize fully the financial assistance available for farmers, despite farmer’s activity in those respects.
11

Rumunska gospodarka rolno-zywnosciowa i inwestycje w ostatnich 20 latach – specjalne studium ostatnich 5 lat członkostwa w UE

88%
Toderoiu F., Voicilaş D.-M.
Wieś i Rolnictwo
|
2012
|
issue 2(155)
9-39
EN
Starting from Romania’s economy position on the global competitiveness scale (on which Romania dropped by ten places in the last year), the agri-food sector being an important economic driving factor of the economy, the paper attempts to identify certain sets of macroeconomic variables determining non-performant generation of value added (level and annual dynamics), which induced radical structural changes in the share of the main branches (agriculture, industry and construction) in the essential resources of the economy (employment, fixed capital stock and net investment) and in its results (gross value added). The first set of variables is of correlative type, at macro-economic level (energy intensity of the economy; “real wages – productivity” correlation; intra-component ratios of the consumer price index). The second type of variables is of sectoral type, at the agri-food economy level (disintegrative “double fracture”; upstream and downstream economic driving effects). The third set of performance reductive variables is of structural type, in the so-called “agri-food” chain (tri-dimensional structure of the agri-food chain – economic operators, employed persons and generated gross value added; average agri-food commercial openness). In the end, we also want to highlight the importance of the relations between businessman and institutions, as regulator and interface, the institutions and organizations which have attributes in investment field and contribute to the creation of the value added in economy. We must have in view that, based on the analysis of the contribution of the institutions to the forming of the business environment, taking into account the recommendations of the investors and their perception of the market, we can easily realize a profile of the economy. Always, the attitude of the investors can give us the measure of the maturity of the economy.
12

BUSINESS CYCLE IN THE ECONOMY OF POLAND. OBSERVATIONS DERIVED FROM MARKOV CHAINS (Cykl koniunkturalny w Polsce. Wnioski z modeli Markowa)

88%
Fic T.
Ekonomista
|
2009
|
issue 1
49-65
EN
The article concentrates on the attempt to identify phases, turning points and the character of business cycle observed in Poland during 1995 - 2005. The switch-on and -off Markov models suggested by Hamilton (1989) have been applied. The obtained results indicate that during slowdown periods growth rate amounted to 2%, while during business prosperity the economy grew at the rate of 5.5% per year. Three cycles, in which similar cyclic changes in individual consumption, exports and imports as well as in inflation, have been discerned. When capital formation activities and unemployment rate are examined, the analysis points to the operation of only one cycle.
13

Sut ta ekonomichna pryroda investytsii i investytsiinoho protsesu

88%
Levchinskiy D. L.
Mekhanizm Rehuluvannya Economiky
|
2011
|
vol. 2 (52)
131-139
EN
Essence and economic nature of such categories, both investments and investment process, is examined in the article, that more frequent than all utilized in the economic system both on macro- and on micro levels. A place and role of subjects of investment process, which the state, population, enterprises in the investment system of country and region, co-operate among, is probed.
14

Stymulyuvannya rozvytku trudovoho potentsialu vyshchoho navchal'noho zakladu

88%
Sotnyk I. M., Kubatko O. V., Barykina M. O., Pronikova G. S.
Mekhanizm Rehuluvannya Economiky
|
2014
|
vol. 3 (65)
36-42
EN
This paper investigates the economic principles of labour potential development and methodological approaches to its evaluation in higher education institution. The paper founds that the reduction in work activity of higher education institutions’ staff is largely related to the lack of the necessary material and moral incentives and guarantees of personnel’s social protection. The directions of labour potential’s development are discussed. There are also analysed the effectiveness of material incentives and system of privileges and bonuses for employees in higher education institution on the example of Sumy State University. It is underlined the priority directions for motivation of scientific activity of teaching staff. Additionally paper proposes recommendations to improve the stimulation system for labour potential development in the university. The paper emphasizes the need to create powerful motivation systems at educational institutions of Ukraine for the labour potential development. It is suggested ways for improving the quality of educational services to students through professional growth of teachers and improvement of their skills.
15

SOCIAL CAPITAL IN FAVOUR OF LOCAL PARTNERSHIP (apital spoleczny na rzecz partnerstwa lokalnego)

88%
Lechwar M., Jastrzebska W.
Optimum. Studia Ekonomiczne
|
2010
|
issue 3 (47)
185-197
EN
The paper consists of two sections. The first part presents theoretical research on the importance of social capital, its sources and a role that it plays in achieving social and economic cohesion. The second section of the article is a case study of Cisna Commune. Highlighted is how important social capital and local partnership are in local development. Verified was the following hypothesis: Features such as entrepreneurship and social acceptance of both planned and current investments could benefit in local development due to the occurrence of Keynesian multiplier.
16

ECONOMIC COOPERATION BETWEEN THE REPUBLIC OF SERBIA AND THE MEMBER STATES OF THE VISEGRAD GROUP

88%
Božiċ Miljkoviċ I.
Ekonomický časopis (Journal of Economics)
|
2021
|
vol. 69
|
issue 2
158 – 179
EN
The paper analyses the effects and measures the intensity of economic cooperation that Serbia has achieved with the member countries of the Visegrad Group (V4 Group) from 2000 until today. The starting hypothesis is that the common cultural and historical heritage, the geographical proximity of the market and the common experience of the economic transition process can be an incentive for the development of economic cooperation between Serbia and the countries of the V4 Group. A gravity econometric model Poisson Pseudo Maximum Likelihood (PPML) estimator was used to test the hypothesis. The results of the research confirm a significantly positive impact of the GDP of Serbia and the observed countries, a significantly negative impact of distance and a significantly positive effect of the neighbourhood on bilateral trade flows. Predictors related to the quality of institutions also have a significant positive effect on increasing bilateral trade cooperation between Serbia and the V4 Group.
17
Content available remote

MECHANISMY ROZHODOVÁNÍ O INVESTIČNÍCH ZÁMĚRECH A ROZPOČTECH OBCÍ

88%
Kopřiva R., Čopík J., Čmejrek J.
Sociológia (Sociology)
|
2017
|
vol. 49
|
issue 5
482 – 506
EN
The article deals with areas of decision-making in local governments in the Czech Republic. It is specifically focused on proposing the agenda and decision-making mechanism. It asks the question of who comes up with an investment impulse, whether work meetings about investments are held before council meetings, and whether the size of the municipality is a determinant for an own decision-making mechanism. It turns out that the main actors in deciding on the key issues of municipalities are mayors. Their role is particularly important in smaller municipalities, while in big cities the range of actors involved in decision-making mechanisms is broader. Despite the fact that the management system of the local governments of Czech municipalities tends to be understood as collective, this may in practice not necessarily apply to small municipalities.
18

Fundusze Unii Europejskiej jako czynnik stymulujący rozwoj jednostek samorzadu terytorialnego na przykładzie wybranych gmin Dolnego Slaska

75%
Kutkowska B., Strus M.
Wieś i Rolnictwo
|
2011
|
issue 3(152)
156-181
EN
The aim of the paper is to determine the role of EU funds in the achievement of development goals formulated in the strategies of rural communes. For the purpose of research the authors of the paper chose five communes from the region of Lower Silesia, which have a high share of areas legally protected because of their great natural value. The activity of the communes' authorities in respect of obtaining EU funds has been analyzed and assessed, basing on budget incomes and expenditures as well as the level of indebtedness. The characteristic features of persons engaged in the obtaining of financial means from EU funds have been also determined. The opinions of the communes' inhabitants concerning the activity of local authorities in favor of development have been also gathered.
19

THEORETICAL AND METHODOLOGICAL BASIS FOR THE DETERMINATION OF THE INVESTMENTS QUALITY: SEMANTIC ASPECT AND CLASSIFICATION ATTRIBUTES (Ukrainian title below)

75%
Mareha I. S.
Mekhanizm Rehuluvannya Economiky
|
2010
|
vol. 1 (45)
229-236
EN
(Ukrainian title: Teoretyko-metodolohichni zasady vyznachennia yakosti investytsii: sutnisno-zmistova osnova ta klasyfikatsiini oznaky). The terms of the 'investments' are classified in the article. The definition of the investments quality is established. The essence of the investments quality is reported when building the financial and economic investment typology.
20

ZALUČEŇJA INVESTYCIJ U ROZVYTOK REGIONAĽNYCH VYROBNYČYCH KOMPLEKSIV: ŠLJACHY GARMONIZACII INTERESIV

75%
Prykhodko V. P.
Človek a spoločnosť. Internetový časopis pre pôvodné teoretické a výskumné štúdie z oblasti spoločenských vied
|
2012
|
vol. 15
|
issue 3
-
EN
Noting that the significant risks and adverse conditions of public policy do not encourage foreign direct investment, the article argues that regions are deprived of opportunities to introduce modern technologies in the development of industrial complexes. It also suggests directions how to attract investment resources for the development of regional industrial complexes.
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