Filtry
wszystkich: 210
Wyniki wyszukiwania dla: FINANCIAL STABILITY
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Journal of Financial Stability
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Innovative investment funds and stability of financial systems: Nonparametric study of exchange-traded funds in Europe
PublikacjaThe 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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THE PROBLEM OF THE BANKING SYSTEM STABILITY IN THE LITERATURE
PublikacjaThe article is an overview of the literature output in the field of banking sector stability. In the literature a plethora of definitions of the term may be encountered. There is no universal definition of the term. Therefore, the article proposes a unique division of the existing explanations into the following groups: stability determined by the quality of the banking sector, stability in terms of its influence on the macroeconomic...
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Improving the regulation of the derivatives market as an objective prerequisite for sustainable development of the global financial system
PublikacjaThe development of financial markets is characterized by the emergence of new financial instruments, in particular derivatives, the risk level analysis of which is complicated. Counterparties are not always fully aware of and do not adequately assess the potential risks of derivatives, which may lead to large financial losses and sometimes bankruptcies. The purpose of the study is to generalize approaches to regulating derivative...
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FINANCIAL COMPARISON OF WESTERN BALKAN AND BALTIC SEA STATES USING THE CAMEL APPROACH
Publikacja• The aim - This article aims to compare the situation in the banking sectors of two regions, which due to their political and economic history have much in common. These are the Western Balkan States of Serbia, Croatia and Macedonia, and the Baltic Sea States of Lithuania, Estonia, and Latvia. • Methods - It presents three approaches to defining banking stability that can be found in the literature and carries out an initial...
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Development of banking sectors in Kosovo and Montenegro in the years 2000 - 2010
PublikacjaThe article presents main aspects of development of banking markets in two Balkan countries - Kosovo and Montenegro. Both of them are charaterised by similar recent history, both in political and economical fields. Their financial sectors have had to be built almost from scretch. The author describes stages of development of competition in the banking sectors, using the following ratios: performace, structure, liquidity. The data...
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THE ASSESSMENT OF THE SITUATION IN BANKING SECTORS IN SELECTED EUROPEAN COUNTRIES
PublikacjaThe economic significance of the banking sector is well recognized in the theory and practice. In the literature there are discussed various topics concerning banking: banking sectors stability and its determinants, as well as influence of the banking sector on other sectors of the economy. Moreover the situation in the banking sector has been studied from different perspectives: its stability, profitability, efficiency, competition,...
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Approval of an Arrangement in the Restructuring Proceedings and the Financial Condition of Companies Listed on the Stock Exchanges in Warsaw. Is There Any Relationship?
PublikacjaThis paper attempts to identify the financial indicators differentiating companies that are insolvent or at risk of insolvency and have successfully entered into an arrangement with their creditors from those that have not. In addition, a two-factor model for predicting the odds of an arrangement has been proposed. The research was conducted using a population of companies listed on stock exchanges in Warsaw that initiated restructuring...
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Confidence, Financial Literacy and Investment in Risky Assets: Evidence from the Survey of Consumer Finances
PublikacjaWe employ recent Survey of Consumer Finances (SCF) microdata from the US to analyze the impacts of confidence in one's own financial knowledge, confidence in the economy, and objective financial literacy on investment in risky financial assets (equity and bonds) on both the extensive and intensive margins. Controlling for a rich set of covariates including risk aversion, we find that objective financial literacy is positively...
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Is Artificial Intelligence Ready to Assess an Enterprise’s Financial Security?
PublikacjaThis study contributes to the literature on financial security by highlighting the relevance of the perceptions and resulting professional judgment of stakeholders. Assessing a company’s financial security using only economic indicators—as suggested in the existing literature—would be inaccurate when undertaking a comprehensive study of financial security. Specifically, indices and indicators based on financial or managerial reporting...
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Impact of Innovative Financial Products on Financial Systems: Exchange Traded Products and the Polish Financial System
PublikacjaExchange Traded Products (ETPs) are one of the most recent and most rapidly developing financial products. As their assets grow they have an increasing impact on financial systems in many countries, including USA, UK or Japan. Development of ETPs is linked with many opportunities and threats for the local financial systems. Their correct assessment is becoming more difficult due to the growing complexity of the available products,...
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ASSESSMENT OF FINANCIAL SECURITY OF AN ENTERPRISE ON THE BASIS OF BEHAVIORAL ECONOMICS
PublikacjaThe article substantiates that the level of company’s financial security depends not so much on the indicators of its activity, but on its perception of decision-makers and other stakeholders. At the same time, this perception is formed due to the continuous participation of the stakeholder in operations, constant monitoring of financial indicators, the study of current approaches to enterprise management, changes in the environment,...
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ICT-driven economic and financial development. Analyses of European countries
PublikacjaICT-Driven Economic and Financial Development: Analyses of European Countries demonstrates the effects of ICT diffusion on economic, social and financial development by examining their impact on the structure and dynamics of national economies. It provides the insight into shifts observed in labour markets, international trade activities productivity factors, education and use of innovative financial products. It combines empirical...
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The Implementation of Fuzzy Logic in Forecasting Financial Ratios
PublikacjaThis paper is devoted to the issue of forecasting financial ratios. The objective of the conducted research is to develop a predictive model with the use of an innovative methodology, i.e., fuzzy logic theory, and to evaluate its effectiveness. Fuzzy logic has been widely used in machinery, robotics and industrial engineering. This paper introduces the use of fuzzy logic for the financial analysis of enterprises. While many current...
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Merton-type default risk and financial performance: the dynamic panel moderation of firm size
PublikacjaPurpose – The main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation of firm size. Design/methodology/approach – This study utilizes a total of 1,500 firm-year observations from 2013 to 2018 using dynamic panel data approach of generalized method of moments to test the relationship between default risk and financial...
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Healthy financial system of local government on the example of Poland
Publikacjahealthy local government financial system lays the foundation for the ability of local government units (LGUs) to carry out public tasks at the current qualitative and quantitative level and to meet their obligations in the short and long term. A healthy financial system of local government is a system that is adequate, stable, unified, consistent, transparent, diversified, counter-cyclical, guarantees the financial independence...
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Examining Statistical Methods in Forecasting Financial Energy of Households in Poland and Taiwan
PublikacjaThis paper examines the usefulness of statistical methods in forecasting the financial energy of households. The study’s objective is to create the innovative ratios that combine both financial and demographic information of households and implement them in the forecasting models. To conduct this objective, six forecasting models are developed using three different methods—discriminant analysis, logit analysis, and decision trees...
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Information and communication technologies versus diffusion and substitution of financial innovations. The case of exchange-traded funds in Japan and South Korea
PublikacjaThe substitution between financial innovations, exchange-traded funds (ETFs), and stock index derivatives (i.e. index financial instruments) is one of the relatively understudied topics of the financial sciences. The current study aims to verify empirically the diffusion and substitution of ETFs in the market for index financial instruments. It presents in-depth analysis of the development of index financial instruments traded...
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Heterogeneity of national accounting systems, world-class universities and financial resources: What are the links?
PublikacjaThis study investigates the relationship between university financial resources, applied accounting systems, and the place of a university in the Shanghai Ranking. We find a strong relationship between the financial resources under the control of a world-class university and the position of that university in the highest tier of the global ranking. We propose a model (available online) to predict a university’s tier in the ranking...
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The effectiveness of financial and economic regulation of land relations in the context of stimulating entrepreneurial activity in the regions of Ukraine
PublikacjaSolving the problem of enhancing the efficiency of the financial and economic regulation of land relations contributes to the development of entrepreneurship in Ukraine. The purpose of the paper is to determine new incentives for encouraging entrepreneurial activity by increasing the efficiency of the financial and economic regulation of land relations by local governments. The study is based on applying the method for predicting...