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Search results for: INVESTMENT FUNDS
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Financial markets diffusion patterns. The case of Mexican investment funds
PublicationExchange traded funds (ETFs) are one of the most influential financial innovations, reshaping the investment funds market in many countries, including Mexico. Due to their similar investment objectives, ETFs are considered substitutes for mutual funds. The aim of the article is to provide an in-depth insight into the issues associated with the development of financial markets in Mexico...
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Innovative investment funds and stability of financial systems: Nonparametric study of exchange-traded funds in Europe
PublicationThe main aim of the paper is investigation of the potential contribution of exchange-trade funds (ETFs) to the instability of the European financial systems. The paper begins with presentation of the key theoretical concepts with regard to ETFs and financial stability. We discuss the key attributes of ETFs as the innovative category of investment funds, their hypothesized impact on the financial stability as well as briefly describe...
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Investment strategy of sovereign wealth funds from emerging markets: the case of China
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Sustainable Investing. Socio-Economic Impacts of Exchange-Traded Funds
PublicationSustainable Investing: Socio-Economic Impacts of Exchange-Traded Funds examines the social and economic effects of sustainable investing ETFs and their impacts on the global financial system. The book presents the key issues with regard to sustainable investing, discussing exchange-traded funds mechanisms and categories in comparison to competing investment funds. The book outlines the theoretical determinants of ETF markets development...
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Structure of the US investment company industry over the period 2000 to 2017: substitution analysis
PublicationOver the last years the investment company industry has undergone deep transformation in the majority of the most advanced economies, including the United States. Traditional investment companies, such as mutual funds, have lost their market share to innovative exchange-traded funds (ETFs). The main distinctive features of ETFs are listing and trading in their units on the stock exchanges as well as lower costs for investors. The...
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Income tax rates for special activities in Czech Republic
Open Research DataThe standard corporate income tax rate is 19%. Since 2015, the tax rates for special activities have changed as follows: the tax rate for pension funds is 0% (with some exemption); The tax regulations define a new so-called "Basic investment fund" and only that particular fund can benefit from the lower tax rate of 5%. Other mutual funds that do not...
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Exchange-Traded Funds on European Markets: Has Critical Mass been Reached? Implications for Financial Systems.
PublicationExchange-traded funds (ETFs) are one of the most rapidly expanding categories of financial products in Europe. One of the key yet still unanswered questions is whether European ETF markets have reached the size at which they could affect the financial systems. In our study, we examine 13 European countries during the period 2004–2017 in order to trace whether the share of ETFs in the total assets of investment funds has reached...
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Exchange-Traded Funds in Europe
PublicationExchange-Traded Funds in Europe provides a single point of reference on a diverse set of regional ETF markets, illuminating the roles ETFs can play in risk mitigation and speculation. Combining empirical data with models and case studies, the authors use diffusion models and panel/country-specific regressions—as well as graphical and descriptive analyses— to show how ETFs are more than conventional, passive investments. With new...
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Exchange-traded products in Germany: development and substitution of exchange-traded funds, exchange-traded commodities and exchange-traded notes.
PublicationResearch background: Exchange-traded products (ETPs) are one of the most rapidly growing categories of financial products. Their fast development has been boosted by innovative features. Three main categories of ETPs are exchange-traded funds (ETFs), exchange-traded commodities (ETCs) and exchange-traded notes (ETNs). ETCs and ETNs remain least known, even though their number on some stock exchanges is high. In Europe, Germany...
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Tracing financial innovation diffusion and substitution trajectories. Recent evidence on exchange-traded funds in Japan and South Korea.
PublicationSince the rapid growth of the popularity of ETFs, the potential substitution between innovative financial products, exchange-traded funds (ETFs), and traditional investment funds (open-end and closed-end funds) is recognized as one of the most-discussed issues in the financial industry. This is the first study to empirically verify and compare the diffusion and substitution of ETFs using monthly data on their assets in two selected...
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Błażej Prusak dr hab.
PeopleBłażej Prusak is Head of the Department of Finance at the Faculty of Management and Economics, Gdansk University of Technology and Editor-in-Chief of the journal Research on Enterprise in Modern Economy - theory and practice (REME), as well as a member of editorial boards of such journals as Intellectual Economics; Space. Economics. Society; Academy of Management. He is the author or co-author of several scientific monographs including:...
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Krystian Zawadzki dr hab. inż.
PeopleKrystian Zawadzki is associate professor in the Department of Finance at the Faculty of Management and Economics of the Gdańsk University of Technology; member of the Polish Olympic Academy at the Polish Olympic Committee; coordinator of the Stock Exchange School (Warsaw Stock Exchange) in Gdańsk; Head of postgraduate studies "Capital Investments and Personal Finance Management"; member of the audit committee of the sports club...
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Marcin Potrykus dr inż.
PeopleA graduate of the Faculty of Management and Economics at the Gdańsk University of Technology. Since 2008, he has been employed as an Assistant at the Department of Finance at the Faculty of Management and Economics of the Gdańsk University of Technology. In 2015, he defended (in the discipline of economics) his doctoral dissertation entitled "Alternative investments - profitability and risk". Since 2016, he has been employed as...
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EXCHANGE TRADED COMMODITIES AS A CATEGORY OF INNOVATIVE PRODUCTS ON EUROPEAN FINANCIAL MARKETS
PublicationThe article presents the main features of one category of innovative financial products – exchange traded commodities (ETCs) and results of the analysis of the European market for ETCs. ETCs are products listed and traded on the stock exchanges and they offer investors returns based on various assets (commodities or currencies). In contrast with the most widely recognized exchange traded funds (ETFs), ETCs are structured as debt...
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Economic significance of initial public offerings in China and India
PublicationRapid economic growth in China and India has attracted attention of many researchers, focusing on various social and economic factors underlying the success of these countries. One of the key components of country’s economy is financial system which consists of segments such as banking sector and equity market. The topic of initial public offerings (IPOs), one of the corporate financing sources, involving raising funds through...
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INWESTYCJE A ZATRUDNIENIE W POLSCE W PERSPEKTYWIE FINANSOWE 2007-2013
PublicationNakłady inwestycyjne przedsiębiorstw traktowane są jako jeden z głównych czynników wzrostu gospodarczego. Ich wielkość i dynamika mogą mieć wpływ na zmiany w poziomie zatrudnienia. Światowy kryzys finansowy przyczynił się do spowolnienia dynamiki wzrostu oraz gwałtownego spadku w 2009 roku PKB w większości gospodarek świata. We wspomnianym okresie w Polsce zaobserwowano spowolnienie gospodarcze, które miało wpływ na decyzje...
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Siedmiokryterialny miernik oceny niepotokowych procesów produkcyjnych
PublicationGrowing expectations of clients, who demand products adapted to their individual needs is inducing the development of batch processes. The author developed a model of batch processes rating based on the following criterions: • Economical criterion applies to evaluation of the productions’ cost levels connected with the process subjected to analysis and necessary investment funds. • Ecological criterion is about means of natural...
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Management and economic of engineer projects
e-Learning CoursesLectures - 05 October-30 November, 2023 1. Project management: Engineers, projects, management, planning and scheduling, personnel and organizational, team building, project control, estimating and ordering. 2. Team building: personality types, team effectiveness. 3. Project management: WBS, Gantt, Earned Value Method, critical path, risk management. 4. Economic Engineering: Establishing economic equivalence, Interest: cost...
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The Impact of Covid-19 on the Performance of Exchange Traded Funds on Developed and Emerging Markets
PublicationIn this paper an endeavour was made to evaluate the impact of Covid-19 on the achievement of the investment objectives by selected ETFs in developed and emerging markets. For this purpose, the tracking errors calculated for 18 different ETFs operating on the basis of American, Asian and European stock indexes were analyzed. The time range of the research was selected in such a way as to compare the period before the pandemic(pre-Covid)...
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Bartosz Sawik
PeopleDr Bartosz Sawik is a Professor at the Department of Business Informatics and Engineering Management, AGH University of Science and Technology, Krakow, Poland and at the Institute of Smart Cities, GILT-OR Group, Department of Statistics, Computer Science and Mathematics, Public University of Navarre, Pamplona, Spain. He is a Visiting Researcher at the University of California, Berkeley, USA. He has a Ph.D. and a M.Sc. and Eng....
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The Russian Federation in European Union Programmes
PublicationSince the early 1990s, the European Union has been supporting socio-economic transformations in the former Soviet Union states, including the Russian Federation. Initially, this assistance was provided in the framework of the TACIS Programme, offering long-term, non-repayable aid. In 1991–2006 Russia received EUR 2.7bn for the restructuring of the state enterprise sector, establishment of private companies, state administration...
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INWESTYCJE ALTERNATYWNE – OPŁACALNOŚĆ A RYZYKO
PublicationW rozprawie określono pojęcie oraz miejsce inwestycji alternatywnych na rynku inwestycyjnym. Wskazane zostały atrybuty tych inwestycji. Zbudowano klasyfikację inwestycji alternatywnych w podziale na kategorie oraz typy wraz ze wskazaniem powiązań pomiędzy poszczególnymi produktami. Dokonano autorskiego podziału analizowanych inwestycji na aktywne i pasywne. Zbadano stopę zwrotu i ryzyko pięćdziesięciu inwestycji alternatywnych,...
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Maria Jastrzębska dr hab.
PeopleMaria Jastrzębska is an employee of the Department of Finance. She is the author of over 170 publications, including 8 monographs - Financial Management of Municipalities. Theoretical aspects; Budgetary policy of local government units; Debt management of local government units; Finances of local government units; Risk management in the activity of local government units with special consideration of catastrophic risk (co-author...