Corporate financial stability and change of capital availability as a result of a loss event

• Authors: Gorczyńska Maria , Błach Joanna , Wieczorek-Kosmala Monika , Doś Anna
• Languages of publication: EN

Abstracts

EN

The main purpose of the study is to present the parameters of financial stability of a company, as well as to show the direction of their potential changes as a result of a loss event. The following thesis was adopted: “Financial stability of a company is a necessary condition for constant, undisturbed development, mainly by ensuring access to external capital in the case when it is necessary to cover the adverse effects of loss events”. This study aims at: defining financial stability, identifying financial stability parameters, indicating the potential changes of such parameters as a result of a loss event.

Keywords

EN

Access to capital; Corporate capital; Financial stability; Risk management

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Journal of Economics and Management
• Year: 2016
• Volume: 24
• Pages: 77-97

Contributors

author

Gorczyńska Maria

• Department of Corporate Finance and Insurance. Faculty of Finance and Insurance. University of Economics in Katowice

author

Błach Joanna

• Department of Corporate Finance and Insurance. Faculty of Finance and Insurance. University of Economics in Katowice

author

Wieczorek-Kosmala Monika

• Department of Corporate Finance and Insurance. Faculty of Finance and Insurance. University of Economics in Katowice

author

Doś Anna

• Department of Corporate Finance and Insurance. Faculty of Finance and Insurance. University of Economics in Katowice

References

• Acharya V., Richardson M. (2009): Restoring Financial Stability: How to Repair a Failed System. John Wiley & Sons, New York.
• Allen W.A., Wood G. (2006): Defining and Achieving Financial Stability. "Journal of Financial Stability", Vol. 2(2), pp.152-172.
• Banks E. (2008): Alternative Risk Transfer. Integrated Risk Management through Insurance, Reinsurance and the Capital Markets. John Wiley & Sons, Chichester.
• Błach J. (2010): Financial Risk Identification based on the Balance Sheet Information. In: Managing and Modelling of Financial Risks. 8th International Scientific Conference, Technical University of Ostrava, Ostrava, p.10-19.
• Błach J., Wieczorek-Kosmala M. (2012): The Ratio Analysis of Financial Balance and Bankruptcy Risk of the Silesian Companies in Time of the Global Financial Crisis. "Equilibrium. Quarterly Journal of Economics and Economic Policy", Vol. 7, Iss. 3, pp. 111-126.
• Crockett A. (1997): Theory and Practice of Financial Stability. Essays in International Finance, No. 203, Princeton University, Princeton, New Jersey.
• Crockett A. (2001): Marrying the Macro- and Micro-Prudential Dimensions of Financial Stability. BIS Paper No. 1, http://ssrn.com/abstract=1165494 or http://dx.doi.org/ 10.2139/ssrn.1165494.
• Dickinson G. (2001): Enterprise Risk Management: Its Origins and Conceptual Foundation. "Geneva Papers on Risk and Insurance. Issues and Practice", Vol. 26, Iss. 3, pp. 360-366.
• Dorfman M.S., Cather D. (2012): Introduction to Risk Management and Insurance. Pearson Higher Education, New York.
• Fabozzi F.J., Peterson P.P. (2003): Financial Management and Analysis. John Wiley & Sons, New York.
• Fidrmuc J., Schardax F. (2000): Increasing Integration of Applicant Countries into International Financial Markets: Implications for Financial and Monetary Stability. BIC Conference Papers, No. 8, Basle.
• Ford F.N., Bradbard D.A., Cox J.F., Ledbetter W.N. (1987): Simulation in Corporate Decision Making: Then and Now. "Simulation", Vol. 49(6), pp. 277-282.
• Foster C.B., Trout R.R. (1989): Computing Losses in Business Interruption Cases. "Journal of Forensic Economics", Vol. 3(1), pp. 9-22.
• Freedman Ch., Goodlet C. (2007): Financial Stability: What It Is and Why It Matters. Commentary, No. 256, C.D. Howe Institute, Toronto, Ontario.
• Gaughan P.A. (2009): Measuring Business Interruption Losses and Other Commercial Damages. John Wiley & Sons, New York.
• Gibson C.H. (2001): Financial Reporting Analysis. Cengage Learning, Boston.
• Gorczyńska M. (2013): Stabilność finansowa a zrównoważony rozwój przedsiębiorstwa. "Zarządzanie i Finanse. Journal of Management and Finance", R. 11, nr 2, część 2.
• Grossi P., Kunreuther H., Patel Ch.C., ed. (2005): Catastrophe Modelling: A New Approach to Managing Risk. Springer, New York.
• GUS (2013): Financial Results of Economic Entities in 2013. www.gus.gov.pl (access: 15.01.2015).
• Helfert E.A. (2002): Techniques of Financial Analysis: A Guide to Value Creation. McGraw-Hill Professional, New York.
• Lewellen J. (2004): Predicting Returns with Financial Ratios. "Journal of Financial Economics", Vol. 74(2), pp. 209-235.
• Padoa-Schioppa T. (2002): Central Banks and Financial Stability: Exploring the Land in between. The Second ECB Central Banking Conference on the Transformation of the European Financial System, 24-25 October 2002, Frankfurt.
• Rose A., Lim D. (2002): Business Interruption Losses from Natural Hazards: Conceptual and Methodological Issues in the Case of the Northridge Earthquake. "Global Environmental Change Part B: Environmental Hazards", Vol. 4(1), pp. 1-14.
• Schinasi G.J. (2006): Safeguarding Financial Stability. International Monetary Fund, Washington, D.C.
• Skipper H.D., Kwon J. (2008): Risk Management and Insurance: Perspectives in a Global Economy. Wiley India Pvt., New Delhi.
• Solarz J.K. (2008): Zarządzanie ryzykiem systemu finansowego. WN PWN, Warszawa.
• Treby E.J., Clark M.J., Priest S.J. (2006): Confronting Flood Risk: Implications for Insurance and Risk Transfer. "Journal of Environmental Management", Vol. 81(4), pp. 351-359.
• Trichet J.C. (2000): Introductory Remarks. In: Independence and Accountability. Developments in Central Banking. Banque de France - Bicentennial Symposium, Paris.
• Vaughan E.J., Vaughan T. (2003): Fundamentals of Risk and Insurance. John Wiley & Sons, New York.
• Wojtyna M. (1995): Polityka ekonomiczna a wzrost gospodarczy. "Gospodarka Narodowa", nr 6.
• Wolmarans H.P. (2006): Business Simulations in Financial Management Courses: Implications for Higher Education. "South African Journal of Higher Education", Vol. 20(2), pp. 352-366.

Identifiers

ISSN

1732-1948