Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.5
Jan Misiąg, Wojciech Misiąg
The aim of the article is to confront the arrangements of official strategy papers concerning agricultural and rural development, including the performance indicators, with the data illustrating the real policy pursued in this area and the effects of this policy. The content of key strategy papersas well as relevant data from the Central Statistical Office and the Ministry of Finance were also analysed. As a result, it was found that: (1) the indicators of objectives focused on supporting agriculture and rural areas adopted in analysed strategies cannot be used to interpret a coherent concept of the policy towards rural areas and agriculture; (2) there are inconsistencies between the arrangements of different strategies; (3) public support was aimed primarily at improving the income situation of farmers, to the detriment of achieving such objectives as improvement of agrarian structure and efficiency of farms, improvement of living conditions in the countryside and more effective environmental protection.
{"title":"STRATEGY OF PUBLIC SUPPORT FOR AGRICULTURE AND RURAL DEVELOPMENT. ASSUMPTIONS AND PRACTICE","authors":"Jan Misiąg, Wojciech Misiąg","doi":"10.22630/pefim.2023.29.78.5","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.5","url":null,"abstract":"The aim of the article is to confront the arrangements of official strategy papers concerning agricultural and rural development, including the performance indicators, with the data illustrating the real policy pursued in this area and the effects of this policy. The content of key strategy papersas well as relevant data from the Central Statistical Office and the Ministry of Finance were also analysed. As a result, it was found that: (1) the indicators of objectives focused on supporting agriculture and rural areas adopted in analysed strategies cannot be used to interpret a coherent concept of the policy towards rural areas and agriculture; (2) there are inconsistencies between the arrangements of different strategies; (3) public support was aimed primarily at improving the income situation of farmers, to the detriment of achieving such objectives as improvement of agrarian structure and efficiency of farms, improvement of living conditions in the countryside and more effective environmental protection.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"2 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136312634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.10
Marta Wiśniewska, Jakub Grabowski
The article focuses on blockchain technology as a tool for supporting enterprises’ competitive potential. The subject of the theoretical considerations was the issues related to the competitiveness of enterprises in the face of market changes and contemporary trends, primarily events associated with the outbreak of the COVID-19 pandemic and the war in Ukraine. The main part of the publication was devoted to the determinants of the activity of enterprises on the Polish market concerning the implementation of blockchain technology. The empirical part indicated, among others, the essence and areas of application of blockchain technology in large enterprises and the possibilities of its practical use in the conducted business. The research undertaken aimed to analyse the possibility of treating blockchain technology as a factor in strengthening the competitiveness of enterprises. At the same time, it was found that large enterprises in Poland do not perceive the capabilities of blockchain-based technology, which may result from insufficient knowledge of its operation and functionality. Low awareness of the complexity and versatility of blockchain technology applications in the corporate sector may constitute a barrier to further disseminating this technology.
{"title":"ENHANCING THE COMPETITIVENESS OF ENTERPRISES IN THE FACE OF CONTEMPORARY CHALLENGES AND TRENDS WITH THE USE OF BLOCKCHAIN TECHNOLOGY","authors":"Marta Wiśniewska, Jakub Grabowski","doi":"10.22630/pefim.2023.29.78.10","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.10","url":null,"abstract":"The article focuses on blockchain technology as a tool for supporting enterprises’ competitive potential. The subject of the theoretical considerations was the issues related to the competitiveness of enterprises in the face of market changes and contemporary trends, primarily events associated with the outbreak of the COVID-19 pandemic and the war in Ukraine. The main part of the publication was devoted to the determinants of the activity of enterprises on the Polish market concerning the implementation of blockchain technology. The empirical part indicated, among others, the essence and areas of application of blockchain technology in large enterprises and the possibilities of its practical use in the conducted business. The research undertaken aimed to analyse the possibility of treating blockchain technology as a factor in strengthening the competitiveness of enterprises. At the same time, it was found that large enterprises in Poland do not perceive the capabilities of blockchain-based technology, which may result from insufficient knowledge of its operation and functionality. Low awareness of the complexity and versatility of blockchain technology applications in the corporate sector may constitute a barrier to further disseminating this technology.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"1 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136317635","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.6
Piotr Misztal
The aim of the undertaken research is an attempt to explain, on theoretical and empirical grounds, the interdependence between central bank communication, its transparency credibility and,consequently, the effectiveness of monetary policy pursued by central banks. The study used research methods based on the literature analysis on the subject in the field of banking and finance, as well as statistical and econometric methods (Granger causality analysis and the generalised linear model – GLM). Literature studies are aimed at answering the question of what is the relationship between the transparency, credibility of the central bank and the effectiveness of monetary policy in theoretical terms. However, the empirical research studies aim to confirm the hypothesis (H0) or reject the hypothesis (H1) about the causal relationships between the variables mentioned. Empirical analyses were conducted on the example of the European Central Bank, which, from the point of view of its monetary policy, is characterised by relatively high efficiency, relatively effectively stabilising inflation in the monetary union. All statistics used in the study were taken from databases of the International Monetary Fund (IMF World Economic Outlook), the European Union statistical office (Eurostat) and the Organisation for Economic Cooperation and Development (OECD) (OECD Data). The analysis covers the period from 2010 to 2022 based on monthly data. The results of the research confirmed the existence of the null hypothesis (i.e., the significant impact of communication, transparency and credibility of the European Central Bank on the effectiveness of monetary policy in the Euro area). The results of the conducted research may be a starting point for further, more in-depth research on the relationship between communication, transparency, credibility and effectiveness of central banks in countries with different levels of economic development.
{"title":"COMMUNICATION OF THE CENTRAL BANK AS A DETERMINANT OF THE CREDIBILITY AND EFFECTIVENESS OF THE MONETARY POLICY ON THE EXAMPLE OF THE EUROPEAN CENTRAL BANK","authors":"Piotr Misztal","doi":"10.22630/pefim.2023.29.78.6","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.6","url":null,"abstract":"The aim of the undertaken research is an attempt to explain, on theoretical and empirical grounds, the interdependence between central bank communication, its transparency credibility and,consequently, the effectiveness of monetary policy pursued by central banks. The study used research methods based on the literature analysis on the subject in the field of banking and finance, as well as statistical and econometric methods (Granger causality analysis and the generalised linear model – GLM). Literature studies are aimed at answering the question of what is the relationship between the transparency, credibility of the central bank and the effectiveness of monetary policy in theoretical terms. However, the empirical research studies aim to confirm the hypothesis (H0) or reject the hypothesis (H1) about the causal relationships between the variables mentioned. Empirical analyses were conducted on the example of the European Central Bank, which, from the point of view of its monetary policy, is characterised by relatively high efficiency, relatively effectively stabilising inflation in the monetary union. All statistics used in the study were taken from databases of the International Monetary Fund (IMF World Economic Outlook), the European Union statistical office (Eurostat) and the Organisation for Economic Cooperation and Development (OECD) (OECD Data). The analysis covers the period from 2010 to 2022 based on monthly data. The results of the research confirmed the existence of the null hypothesis (i.e., the significant impact of communication, transparency and credibility of the European Central Bank on the effectiveness of monetary policy in the Euro area). The results of the conducted research may be a starting point for further, more in-depth research on the relationship between communication, transparency, credibility and effectiveness of central banks in countries with different levels of economic development.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"65 9","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136317099","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.7
Tomasz Pawlonka, Paweł Sypniewski
Practice and empirical observations prove that achieving above-average returns on the stock market is possible. It is possible to achieve both higher and lower returns than those resulting from the fundamental value of the companies being valued. This condition is affected by anomalies that make the market ineffective. Numerous studies in behavioural finance show that the causes of market inefficiency are to be found in the incomplete rationality of investors. Numerous deviations of investor behaviour from the homo economicus model result from their cognitive and motivational limitations. Sometimes the mistakes of an individual investor are systematic – such systematic and massive errors take the form of heuristics that can influence the magnitude of market anomalies, including the occurrence of calendar effects. One of the best-known calendar anomalies is the January Effect. The January Effect is characterised by an increase in stock prices in January, andthe occurrence of the January Effect is expressed by the fact that the returns in January are the highest of the entire year. The research conducted on the Warsaw Stock Exchange confirmed the presence of the January Effect in small- and medium-sized companies. During the research, the presence of other calendar effects (related to the months of June and October) was also diagnosed.
{"title":"BEHAVIOURAL SEASONAL ANOMALIES ON THE STOCK EXCHANGE – VERIFICATION OF THE JANUARY EFFECT ON THE WSE IN WARSAW","authors":"Tomasz Pawlonka, Paweł Sypniewski","doi":"10.22630/pefim.2023.29.78.7","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.7","url":null,"abstract":"Practice and empirical observations prove that achieving above-average returns on the stock market is possible. It is possible to achieve both higher and lower returns than those resulting from the fundamental value of the companies being valued. This condition is affected by anomalies that make the market ineffective. Numerous studies in behavioural finance show that the causes of market inefficiency are to be found in the incomplete rationality of investors. Numerous deviations of investor behaviour from the homo economicus model result from their cognitive and motivational limitations. Sometimes the mistakes of an individual investor are systematic – such systematic and massive errors take the form of heuristics that can influence the magnitude of market anomalies, including the occurrence of calendar effects. One of the best-known calendar anomalies is the January Effect. The January Effect is characterised by an increase in stock prices in January, andthe occurrence of the January Effect is expressed by the fact that the returns in January are the highest of the entire year. The research conducted on the Warsaw Stock Exchange confirmed the presence of the January Effect in small- and medium-sized companies. During the research, the presence of other calendar effects (related to the months of June and October) was also diagnosed.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136312636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.3
Marlena Grzelczak, Agnieszka Kurdyś-Kujawska, Michał Soliwoda
The increasingly volatile conditions of doing business and the existence of societies are a clear reason to explore the category of resilience. The article aims to present and structure selected theoretical and methodological problems concerning resilience in agriculture. The results of a bibliometric analysis indicate a research gap referring to the category of financial resilience. The category of ‘resilience’ is based on relatively modern concepts from business management, particularly those close to risk management theory. Identifying and measuring capacities to build and strengthen resilience seems to be very important. Quantitative and qualitative methods may be used to explore the category ‘financial resilience’ in agriculture. There has been a noticeable research gap in agricultural finance to fill in. The indicator system for measuring the resilience of agricultural enterprises/farms has some limitations related to the aggregated nature of some financial categories. It would be advisable to develop a global measure of risk resistance in parallel (e.g., in the form of a synthetic index).
{"title":"RESILIENCE IN AGRICULTURE: IS THERE THEORETICAL AND METHODOLOGICAL CHAOS?","authors":"Marlena Grzelczak, Agnieszka Kurdyś-Kujawska, Michał Soliwoda","doi":"10.22630/pefim.2023.29.78.3","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.3","url":null,"abstract":"The increasingly volatile conditions of doing business and the existence of societies are a clear reason to explore the category of resilience. The article aims to present and structure selected theoretical and methodological problems concerning resilience in agriculture. The results of a bibliometric analysis indicate a research gap referring to the category of financial resilience. The category of ‘resilience’ is based on relatively modern concepts from business management, particularly those close to risk management theory. Identifying and measuring capacities to build and strengthen resilience seems to be very important. Quantitative and qualitative methods may be used to explore the category ‘financial resilience’ in agriculture. There has been a noticeable research gap in agricultural finance to fill in. The indicator system for measuring the resilience of agricultural enterprises/farms has some limitations related to the aggregated nature of some financial categories. It would be advisable to develop a global measure of risk resistance in parallel (e.g., in the form of a synthetic index).","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"38 14","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136312291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.8
Edyta Piątek
The article assesses the transaction of contributing a trademark created during business activity to a newly established company in the context of the principle of the advantage of substance over form and applicable tax law provisions. In order to build the value and structure of their assets in the balance sheet and act against the principle of substance over form, enterprises separate and contribute economic resources that do not meet the definition of assets to newly established companies. Literature studies and analysis of legal acts were used to achieve the assumed goal, and a study of a selected real case of a transaction of separating one's own trademark and its contribution to a daughter company in order to improve the property and financial situation was carried out. The analysis of the case study indicates actions against the principle of the advantage of content over form and, thus, the principle of a faithful image. In order to improve the property and financial situation, the company's management board activated a trademark created during its operations by separating it and contributing it to a daughter company and thus falsified the picture of the property and financial situation of the enterprise presented in the reports, exposing their addressees to the consequences of incorrect decisions.
{"title":"THE PRINCIPLE OF THE ADVANTAGE OF SUBSTANCE OVER FORM IN THE TRANSACTION OF SUBMITTING A TRADEMARK","authors":"Edyta Piątek","doi":"10.22630/pefim.2023.29.78.8","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.8","url":null,"abstract":"The article assesses the transaction of contributing a trademark created during business activity to a newly established company in the context of the principle of the advantage of substance over form and applicable tax law provisions. In order to build the value and structure of their assets in the balance sheet and act against the principle of substance over form, enterprises separate and contribute economic resources that do not meet the definition of assets to newly established companies. Literature studies and analysis of legal acts were used to achieve the assumed goal, and a study of a selected real case of a transaction of separating one's own trademark and its contribution to a daughter company in order to improve the property and financial situation was carried out. The analysis of the case study indicates actions against the principle of the advantage of content over form and, thus, the principle of a faithful image. In order to improve the property and financial situation, the company's management board activated a trademark created during its operations by separating it and contributing it to a daughter company and thus falsified the picture of the property and financial situation of the enterprise presented in the reports, exposing their addressees to the consequences of incorrect decisions.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"21 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136312514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Loss of financial potential is one of the most serious risks enterprises face. The risk management system for the loss of financial potential helps enterprises identify, evaluate and manage risks that may affect their financial condition. This system allows enterprises to reduce the possibility of financial losses andensures more efficient work with financial resources. The purpose of the article is to identify the main imperatives, which are the basis for ensuring the development of financial potential and the justification of measures to neutralise the risks of business entities in the agricultural sector in Ukraine. The main sources of loss of financial potential of enterprises in the agricultural sector of the economy of Ukraine have been identified. It has been established that currently, the biggest threats are: low business activity, a low level of technological equipment and innovation, negative profitability and slow turnover of capital, lack of access to credit for small- and medium-sized enterprises and climate changes. Agricultural enterprises are subject to various risks of loss of financial potential, which may be associated with changes in weather conditions, animal epidemics, changes in legislation, currency risks, etc. Neutralisation of these risks is an important element of effective management of an agricultural enterprise and ensuring its stability. It has been proven that one of the ways to neutralise risks is to create a reserve fund in case of unexpected events that may lead to the loss of financial potential. Such a fund may include funds that can be used for replanting crops, repairing infrastructure, reimbursing losses from animal epidemics and other needs. It is proposed to minimise the risks with the help of insurance. Insurance can be provided at different levels: from crop insurance to emergency insurance. Having insurance allows the company to reduce financial losses in case of unexpected events. In addition, the enterprise can use financial instruments to reduce currency risks. These tools will enable you to protect the company from changes in exchange rates.
{"title":"RISK MANAGEMENT OF THE DEVELOPMENT OF FINANCIAL POTENTIAL OF BUSINESS ENTITIES","authors":"Nadiia Davydenko, Alina Buriak, Natalia Wasilewska, Mirosław Wasilewski","doi":"10.22630/pefim.2023.29.78.2","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.2","url":null,"abstract":"Loss of financial potential is one of the most serious risks enterprises face. The risk management system for the loss of financial potential helps enterprises identify, evaluate and manage risks that may affect their financial condition. This system allows enterprises to reduce the possibility of financial losses andensures more efficient work with financial resources. The purpose of the article is to identify the main imperatives, which are the basis for ensuring the development of financial potential and the justification of measures to neutralise the risks of business entities in the agricultural sector in Ukraine. The main sources of loss of financial potential of enterprises in the agricultural sector of the economy of Ukraine have been identified. It has been established that currently, the biggest threats are: low business activity, a low level of technological equipment and innovation, negative profitability and slow turnover of capital, lack of access to credit for small- and medium-sized enterprises and climate changes. Agricultural enterprises are subject to various risks of loss of financial potential, which may be associated with changes in weather conditions, animal epidemics, changes in legislation, currency risks, etc. Neutralisation of these risks is an important element of effective management of an agricultural enterprise and ensuring its stability. It has been proven that one of the ways to neutralise risks is to create a reserve fund in case of unexpected events that may lead to the loss of financial potential. Such a fund may include funds that can be used for replanting crops, repairing infrastructure, reimbursing losses from animal epidemics and other needs. It is proposed to minimise the risks with the help of insurance. Insurance can be provided at different levels: from crop insurance to emergency insurance. Having insurance allows the company to reduce financial losses in case of unexpected events. In addition, the enterprise can use financial instruments to reduce currency risks. These tools will enable you to protect the company from changes in exchange rates.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"27 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136317084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.1
Michał Bernardelli, Mariusz Próchniak
Loss of financial potential is one of the most serious risks enterprises face. The risk management system for the loss of financial potential helps enterprises identify, evaluate and manage risks that may affect their financial condition. This system allows enterprises to reduce the possibility of financial losses andensures more efficient work with financial resources. The purpose of the article is to identify the main imperatives, which are the basis for ensuring the development of financial potential and the justification of measures to neutralise the risks of business entities in the agricultural sector in Ukraine. The main sources of loss of financial potential of enterprises in the agricultural sector of the economy of Ukraine have been identified. It has been established that currently, the biggest threats are: low business activity, a low level of technological equipment and innovation, negative profitability and slow turnover of capital, lack of access to credit for small- and medium-sized enterprises and climate changes. Agricultural enterprises are subject to various risks of loss of financial potential, which may be associated with changes in weather conditions, animal epidemics, changes in legislation, currency risks, etc. Neutralisation of these risks is an important element of effective management of an agricultural enterprise and ensuring its stability. It has been proven that one of the ways to neutralise risks is to create a reserve fund in case of unexpected events that may lead to the loss of financial potential. Such a fund may include funds that can be used for replanting crops, repairing infrastructure, reimbursing losses from animal epidemics and other needs. It is proposed to minimise the risks with the help of insurance. Insurance can be provided at different levels: from crop insurance to emergency insurance. Having insurance allows the company to reduce financial losses in case of unexpected events. In addition, the enterprise can use financial instruments to reduce currency risks. These tools will enable you to protect the company from changes in exchange rates.
{"title":"A COMPARISON OF THE FINANCIAL SECTOR AND MACROECONOMIC PERFORMANCE USING TURNING POINTS ANALYSIS","authors":"Michał Bernardelli, Mariusz Próchniak","doi":"10.22630/pefim.2023.29.78.1","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.1","url":null,"abstract":"Loss of financial potential is one of the most serious risks enterprises face. The risk management system for the loss of financial potential helps enterprises identify, evaluate and manage risks that may affect their financial condition. This system allows enterprises to reduce the possibility of financial losses andensures more efficient work with financial resources. The purpose of the article is to identify the main imperatives, which are the basis for ensuring the development of financial potential and the justification of measures to neutralise the risks of business entities in the agricultural sector in Ukraine. The main sources of loss of financial potential of enterprises in the agricultural sector of the economy of Ukraine have been identified. It has been established that currently, the biggest threats are: low business activity, a low level of technological equipment and innovation, negative profitability and slow turnover of capital, lack of access to credit for small- and medium-sized enterprises and climate changes. Agricultural enterprises are subject to various risks of loss of financial potential, which may be associated with changes in weather conditions, animal epidemics, changes in legislation, currency risks, etc. Neutralisation of these risks is an important element of effective management of an agricultural enterprise and ensuring its stability. It has been proven that one of the ways to neutralise risks is to create a reserve fund in case of unexpected events that may lead to the loss of financial potential. Such a fund may include funds that can be used for replanting crops, repairing infrastructure, reimbursing losses from animal epidemics and other needs. It is proposed to minimise the risks with the help of insurance. Insurance can be provided at different levels: from crop insurance to emergency insurance. Having insurance allows the company to reduce financial losses in case of unexpected events. In addition, the enterprise can use financial instruments to reduce currency risks. These tools will enable you to protect the company from changes in exchange rates.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"143 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136317453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.9
Joanna Trębska
The aim of the paper is to assess the effects of the COVID-19 pandemic from the perspective of income circulation processes in the economies of the European Union. The empirical study is based on statistical data compiled according to ESA2010 standards, published by the European Commission in the Eurostat database. The fundamental quantitative relationships between entities grouped into institutional sectors have been synthetically presented in the form of a social accounting matrix (SAM). The analyses of simple macroeconomic indicators show the growing importance of the government sector due to the pandemic. This is evidenced by the growing involvement of this sector in consumption, accumulation and income redistribution between institutional sectors.Simulation analyses based on the SAM model determine to what extent the contribution of the government sector to GDP results directly through feedback loops from final demand and to what extent from current and capital transfers.
{"title":"CONSEQUENCES OF THE COVID-19 PANDEMIC IN THE EUROPEAN UNION FROM THE PERSPECTIVE OF GENERAL GOVERNMENT FINANCES – AN ANALYSIS BASED ON THE SOCIAL ACCOUNTING MATRI","authors":"Joanna Trębska","doi":"10.22630/pefim.2023.29.78.9","DOIUrl":"https://doi.org/10.22630/pefim.2023.29.78.9","url":null,"abstract":"The aim of the paper is to assess the effects of the COVID-19 pandemic from the perspective of income circulation processes in the economies of the European Union. The empirical study is based on statistical data compiled according to ESA2010 standards, published by the European Commission in the Eurostat database. The fundamental quantitative relationships between entities grouped into institutional sectors have been synthetically presented in the form of a social accounting matrix (SAM). The analyses of simple macroeconomic indicators show the growing importance of the government sector due to the pandemic. This is evidenced by the growing involvement of this sector in consumption, accumulation and income redistribution between institutional sectors.Simulation analyses based on the SAM model determine to what extent the contribution of the government sector to GDP results directly through feedback loops from final demand and to what extent from current and capital transfers.","PeriodicalId":34405,"journal":{"name":"Polityki Europejskie Finanse i Marketing","volume":"190 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136312290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.22630/pefim.2023.29.78.4
Sławomir Juszczyk, Wioleta Bartosiak, Juliusz Juszczyk, Robert Konieczny, Bartosz Palimonka
The aim of the research was to identify the financial consequences of introducing IFRS 9 in a leading commercial bank in Poland. The research period was six years and covered the years 2015-2020. It was established, inter alia, that IFRS 9, compared to the previously applicable IAS 39, changed the method of measuring financial assets and thus led to changes in the balance sheet and financial results. The introduction of IFRS 9 also increased financial provisions for loans to be repaid in the bank's portfolio,
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