Pub Date : 2021-10-27DOI: 10.18778/2391-6478.4.32.03
Tolkyn Akanayeva, Arnagul Tishtykbayeva
The article examines the impact of world oil prices on the value of Kazakh companies based on their own calculations. The subject of the analysis is the shares of companies from various sectors of the economy. The purpose of this article is to study the impact of world oil prices on the stock prices of selected companies in Kazakhstan. The results of the study show that the market value of the companies studied is highly dependent on changes in world oil prices on world exchanges.
{"title":"Wpływ światowych cen ropy naftowej na wartość kazachstańskich spółek","authors":"Tolkyn Akanayeva, Arnagul Tishtykbayeva","doi":"10.18778/2391-6478.4.32.03","DOIUrl":"https://doi.org/10.18778/2391-6478.4.32.03","url":null,"abstract":"The article examines the impact of world oil prices on the value of Kazakh companies based on their own calculations. The subject of the analysis is the shares of companies from various sectors of the economy. The purpose of this article is to study the impact of world oil prices on the stock prices of selected companies in Kazakhstan. The results of the study show that the market value of the companies studied is highly dependent on changes in world oil prices on world exchanges.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"142 33","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72370369","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 : 2021-10-27DOI: 10.18778/2391-6478.4.32.02
Paweł Nowak
The purpose of the article: The aim of the article is to discuss the loan proposal in the „ key for debt ” formula contained in Recommendation S of 2019 against the background of voluntary sale of real estate based on art. 35 of the Act on Mortgage Credit and Supervision over Mortgage Credit Intermediaries and Agents [on Mortgage Loans and Loan Agents of 23 March 2017]. Methodology: It was created on the basis of an analysis of the content of legal acts and documents as well as studies of the subject literature. Results of the research: The conclusions contained in the article refer to the possibility of using one of these institutions to free yourself from debt. The analysis shows that a loan in the „ key for debt ” formula, due to insufficient interest on the part of lenders and borrowers, will not be a real support for borrowers and borrowers will not be able to limit their liability for the loan taken to the value of the real estate being credited.
文章的目的:文章的目的是在基于艺术的房地产自愿出售的背景下，讨论2019年建议S中包含的“key for debt”公式中的贷款提案。《抵押信贷和抵押信贷中介机构和代理人监管法》[关于2017年3月23日的抵押贷款和贷款代理人]第35条。方法论:它是在对法律行为和文件内容的分析以及对主题文献的研究的基础上创建的。研究结果:文章中包含的结论提到了利用这些机构之一来摆脱债务的可能性。分析表明，“债务的关键”公式中的贷款，由于贷款人和借款人的利息不足，将不会对借款人提供真正的支持，借款人将无法将其对贷款的责任限制在被记入的房地产价值上。
{"title":"Kredyt z opcją „klucz za dług” a dobrowolna sprzedaż nieruchomości","authors":"Paweł Nowak","doi":"10.18778/2391-6478.4.32.02","DOIUrl":"https://doi.org/10.18778/2391-6478.4.32.02","url":null,"abstract":"The purpose of the article: The aim of the article is to discuss the loan proposal in the „ key for debt ” formula contained in Recommendation S of 2019 against the background of voluntary sale of real estate based on art. 35 of the Act on Mortgage Credit and Supervision over Mortgage Credit Intermediaries and Agents [on Mortgage Loans and Loan Agents of 23 March 2017]. Methodology: It was created on the basis of an analysis of the content of legal acts and documents as well as studies of the subject literature. Results of the research: The conclusions contained in the article refer to the possibility of using one of these institutions to free yourself from debt. The analysis shows that a loan in the „ key for debt ” formula, due to insufficient interest on the part of lenders and borrowers, will not be a real support for borrowers and borrowers will not be able to limit their liability for the loan taken to the value of the real estate being credited.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89516231","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.02
M. Comporek
The purpose of the article/hypothesis: The aim of the paper is to show the importance of the implemented real earnings management (REM) in the intentional shaping of large losses in public industrial enterprises listed on the Warsaw Stock Exchange. Methodology: The basic method of assessing the REM activities was compliant with the Roychowdhury methodology, enabling the estimation of the abnormal levels of: operational cash flows, production costs and discretionary expenses. In turn, the modified verision of iosik model was used to assess the impact of REM practices on the frequency of large losses in tested sample. Results of the research: The obtained results show that the REM implemented by means of overproduction, granting above-average rebates and a liberal approach in the field of trade credits may be considered an important path of intentional deepening of the net loss in public industrial companies.
{"title":"Rzeczowe zarządzanie zyskiem jako instrument kształtowania dużych strat w przedsiębiorstwach przemysłowych","authors":"M. Comporek","doi":"10.18778/2391-6478.3.31.02","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.02","url":null,"abstract":"The purpose of the article/hypothesis: The aim of the paper is to show the importance of the implemented real earnings management (REM) in the intentional shaping of large losses in public industrial enterprises listed on the Warsaw Stock Exchange.\u0000Methodology: The basic method of assessing the REM activities was compliant with the Roychowdhury methodology, enabling the estimation of the abnormal levels of: operational cash flows, production costs and discretionary expenses. In turn, the modified verision of iosik model was used to assess the impact of REM practices on the frequency of large losses in tested sample.\u0000Results of the research: The obtained results show that the REM implemented by means of overproduction, granting above-average rebates and a liberal approach in the field of trade credits may be considered an important path of intentional deepening of the net loss in public industrial companies.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76497178","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.03
Wiktor Gnych-Pietrzak
The purpose of the article is to present the issues related to qualifying the costs of a consumer credit, such as commission and fees, to costs associated with the loan period, and thus subject to reduction in the event of early loan repayment. Based on the research, a thesis was formulated that for the correct transposition and implementation of EU law, it is required to ensure the possibility of reducing all costs of a consumer loan, therefore the above costs should be considered related to the loan period and should be proportionally reduced. Methodology: For the purposes of the research, the legal-dogmatic and analytical methods were used. The jurisprudence of Polish courts and the Court of Justice of the European Union was analyzed. The adopted time horizon of the study covered the period from 12/05/2010 to 31/12/2020. The judgments published in the resources of Lex and Legalis Legal Information Systems and the Portal of Judgments of Common Courts as at 31/12/2020 were taken into account. Results of the research: It was found that the judicature largely adopted a broad approach to the problem presented, even before the judgment of the CJEU in case C-383/18, which confirms the thesis adopted for the purposes of the article. Consequently, consumers who have concluded a consumer credit agreement are entitled to a proportional reduction to all costs they had to incur in connection with the concluded agreement. In particular, these are incidental, one-off costs such as commission and preparation fee, which are subjected to reduction.
本文的目的是介绍与消费者信贷成本(如佣金和费用)相关的问题，以及与贷款期限相关的成本，因此在提前偿还贷款的情况下会减少成本。在研究的基础上，本文提出，为了正确地转换和实施欧盟法律，需要确保降低消费贷款的所有成本的可能性，因此上述成本应考虑与贷款期限相关，并应按比例降低。方法论:为了研究的目的，使用了法律教条和分析方法。分析了波兰法院和欧盟法院的判例。研究采用的时间范围为2010年5月12日至2020年12月31日。截至2020年12月31日，在Lex and Legalis法律资讯系统和普通法院判决书门户网站上公布的判决书均被纳入考虑范围。研究结果:人们发现，即使在欧洲法院对C-383/18号案件作出判决之前，司法部门对所提出的问题基本上采取了一种宽泛的做法，这证实了为本条目的而采用的论点。因此，已签订消费信贷协议的消费者有权按比例减少与所签订的协议有关的所有费用。特别是，这些是附带的一次性费用，例如佣金和准备费，这些费用将受到减少。
{"title":"Prawo konsumenta do obniżenia całkowitego kosztu kredytu konsumenckiego – zarys problemu","authors":"Wiktor Gnych-Pietrzak","doi":"10.18778/2391-6478.3.31.03","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.03","url":null,"abstract":"The purpose of the article is to present the issues related to qualifying the costs of a consumer credit, such as commission and fees, to costs associated with the loan period, and thus subject to reduction in the event of early loan repayment. Based on the research, a thesis was formulated that for the correct transposition and implementation of EU law, it is required to ensure the possibility of reducing all costs of a consumer loan, therefore the above costs should be considered related to the loan period and should be proportionally reduced. \u0000Methodology: For the purposes of the research, the legal-dogmatic and analytical methods were used. The jurisprudence of Polish courts and the Court of Justice of the European Union was analyzed. The adopted time horizon of the study covered the period from 12/05/2010 to 31/12/2020. The judgments published in the resources of Lex and Legalis Legal Information Systems and the Portal of Judgments of Common Courts as at 31/12/2020 were taken into account. \u0000Results of the research: It was found that the judicature largely adopted a broad approach to the problem presented, even before the judgment of the CJEU in case C-383/18, which confirms the thesis adopted for the purposes of the article. Consequently, consumers who have concluded a consumer credit agreement are entitled to a proportional reduction to all costs they had to incur in connection with the concluded agreement. In particular, these are incidental, one-off costs such as commission and preparation fee, which are subjected to reduction.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"61 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87761568","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.05
Alicja Juras
The aim of the article: The crisis, both in the economic and financial markets, can lead to a sudden downturn and a loss of savings. For this reason, during a crisis, safe investments are essential to reduce risks and avoid losses. This year’s coronavirus pandemic has caused a lot of confusion in the financial and investment world as well.The pandemic led to turbulence in the financial market and made investors look for the so-called safe havens. In the literature, these havens often include alternative investments with a high demand for gold. This article aims to check the validity of using gold as an investment during a pandemic. Methodology: In the paper, in order to achieve the formulated aim, the following stages were carried out: critical analysis of the literature regarding the factors influencing investment decisions and the characteristics alternatives instruments. The last stage was based on statistical analysis using the Pearson correlation method. Gold prices were compared with quotations of two price indexes: WIG20 and S&P500. Results of the research: The conducted analysis shows that gold as an alternative investment is a good hedge in times of crisis, therefore, it is also the case during ongoing pandemic. Alternative assets fulfill a hedging function, minimizing the risk of losses. Moreover, thanks to a negative correlation with the market, they give a possibility to increase investors’ capital in times of crisis.
{"title":"Is Gold as an Alternative Investment a Good Solution During Pandemic?","authors":"Alicja Juras","doi":"10.18778/2391-6478.3.31.05","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.05","url":null,"abstract":"The aim of the article: The crisis, both in the economic and financial markets, can lead to a sudden downturn and a loss of savings. For this reason, during a crisis, safe investments are essential to reduce risks and avoid losses. This year’s coronavirus pandemic has caused a lot of confusion in the financial and investment world as well.The pandemic led to turbulence in the financial market and made investors look for the so-called safe havens. In the literature, these havens often include alternative investments with a high demand for gold. This article aims to check the validity of using gold as an investment during a pandemic. \u0000Methodology: In the paper, in order to achieve the formulated aim, the following stages were carried out: critical analysis of the literature regarding the factors influencing investment decisions and the characteristics alternatives instruments. The last stage was based on statistical analysis using the Pearson correlation method. Gold prices were compared with quotations of two price indexes: WIG20 and S&P500. \u0000Results of the research: The conducted analysis shows that gold as an alternative investment is a good hedge in times of crisis, therefore, it is also the case during ongoing pandemic. Alternative assets fulfill a hedging function, minimizing the risk of losses. Moreover, thanks to a negative correlation with the market, they give a possibility to increase investors’ capital in times of crisis.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80483308","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.08
Eleonora Ratowska-Dziobiak
An efficiently operating financial system is considered as an integral part of a well-functioning economy. It is the mechanism by which services are provided that allow the flow of purchasing power. Thus, this system creates the foundations of activity for entities using money, enabling the conclusion of economic transactions in which money performs various functions. The result of the existence of this system is the possibility of co-creation of money by non-financial economic entities (enterprises and households) and the flow of cash between them. In the light of many transformations taking place in the financial system, it is extremely important to ensure its stability. A properly functioning financial system significantly supports the achievement of the main goals of the central bank – maintaining a stable level of prices, and thus creating the basis for achieving long-term economic growth. Educational activities are of great importance in ensuring the stability of the financial system. The aim of the article is to present the role of economic education among young people, thanks to which they can better understand the complexities of the functioning of the financial system, the importance of its stability and prepare to make more conscious decisions as fully-fledged participants of the financial market. Understanding the specificity of the available financial instruments enables the minimalization of the risk associated with their selection / purchase. The accuracy of decisions made in adulthood depends on the knowledge of basic economic issues and the awareness of potential threats.
{"title":"Rola edukacji ekonomicznej w kształtowaniu stabilności systemu finansowego","authors":"Eleonora Ratowska-Dziobiak","doi":"10.18778/2391-6478.3.31.08","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.08","url":null,"abstract":"An efficiently operating financial system is considered as an integral part of a well-functioning economy. It is the mechanism by which services are provided that allow the flow of purchasing power. Thus, this system creates the foundations of activity for entities using money, enabling the conclusion of economic transactions in which money performs various functions. The result of the existence of this system is the possibility of co-creation of money by non-financial economic entities (enterprises and households) and the flow of cash between them. In the light of many transformations taking place in the financial system, it is extremely important to ensure its stability. A properly functioning financial system significantly supports the achievement of the main goals of the central bank – maintaining a stable level of prices, and thus creating the basis for achieving long-term economic growth. Educational activities are of great importance in ensuring the stability of the financial system. The aim of the article is to present the role of economic education among young people, thanks to which they can better understand the complexities of the functioning of the financial system, the importance of its stability and prepare to make more conscious decisions as fully-fledged participants of the financial market. Understanding the specificity of the available financial instruments enables the minimalization of the risk associated with their selection / purchase. The accuracy of decisions made in adulthood depends on the knowledge of basic economic issues and the awareness of potential threats.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80587226","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.07
Anna Pluskota
The purpose of the article. The aim of the study is to show the impact of the key macroeconomic determinants of the credit risk of the banking sector in Poland in 2011–2020. This aim was achieved by analysis of the Pearson correlation coefficient and econometric models allowing to determine the impact of individual variables on the NPL index. Methodology: The empirical part includes the presentation and description of basic descriptive statistics, as well as the calculation of the Pearson correlation coefficient with the interpretation of the obtained results. The dynamic econometric model describing the variability of the NPL ratio was built using mainly macroeconomic variables. Results of the research: Research has shown the impact of changes in the unemployment rate and the inflation rate on credit risk. On the other hand, the impact of economic growth on the NPL ratio in the analyzed period was not statistically significant. The relationship between credit risk and changes in foreign exchange rates (CHF, USD, EUR) turned out to be negative in the analyzed period, which means that the increases in exchange rates of these currencies did not result in a significant burden of credit risk in the banking sector in Poland.
{"title":"Makroekonomiczne determinanty ryzyka kredytowego w Polsce ze szczególnym uwzględnieniem kursów walut obcych","authors":"Anna Pluskota","doi":"10.18778/2391-6478.3.31.07","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.07","url":null,"abstract":"The purpose of the article. The aim of the study is to show the impact of the key macroeconomic determinants of the credit risk of the banking sector in Poland in 2011–2020. This aim was achieved by analysis of the Pearson correlation coefficient and econometric models allowing to determine the impact of individual variables on the NPL index. \u0000Methodology: The empirical part includes the presentation and description of basic descriptive statistics, as well as the calculation of the Pearson correlation coefficient with the interpretation of the obtained results. The dynamic econometric model describing the variability of the NPL ratio was built using mainly macroeconomic variables. \u0000Results of the research: Research has shown the impact of changes in the unemployment rate and the inflation rate on credit risk. On the other hand, the impact of economic growth on the NPL ratio in the analyzed period was not statistically significant. The relationship between credit risk and changes in foreign exchange rates (CHF, USD, EUR) turned out to be negative in the analyzed period, which means that the increases in exchange rates of these currencies did not result in a significant burden of credit risk in the banking sector in Poland.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"9 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82526582","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.01
Sylwia Cieślik
The aim of the article: The purpose of this article is to discuss theoretical issues concerning the nature of the Variable Interest Entity (VIE) structure and to analyze the scale and functioning of companies using this structure to issue securities on foreign exchanges. The main research hypothesis was that the VIE structure is widely used by Chinese companies to issue securities on international stock exchanges. Methodology: The basis of the research material are academic articles, reports of institutions and corporations, journal articles and other sources, as well as statistical data of companies collected on stock exchanges. Through analysis of stock market data, the authors sought to identify the number of companies operating under the VIE structure and determine the amount of capital invested on the largest international stock exchanges. Results of the research: Empirical research indicates that the VIE structure is used by Chinese companies operating in sectors of the Chinese economy restricted by the authorities in order to issue securities, and thus raise the necessary capital for further development. The results indicate the large amount of accumulated capital, the huge number of entities involved in their operation, as well as the high risk associated with the investment.
{"title":"Variable Interest Entity Structure as a Form of Investment Undertaken by Chinese Companies on Foreign Stock Exchanges","authors":"Sylwia Cieślik","doi":"10.18778/2391-6478.3.31.01","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.01","url":null,"abstract":"The aim of the article: The purpose of this article is to discuss theoretical issues concerning the nature of the Variable Interest Entity (VIE) structure and to analyze the scale and functioning of companies using this structure to issue securities on foreign exchanges. The main research hypothesis was that the VIE structure is widely used by Chinese companies to issue securities on international stock exchanges.\u0000Methodology: The basis of the research material are academic articles, reports of institutions and corporations, journal articles and other sources, as well as statistical data of companies collected on stock exchanges. Through analysis of stock market data, the authors sought to identify the number of companies operating under the VIE structure and determine the amount of capital invested on the largest international stock exchanges.\u0000Results of the research: Empirical research indicates that the VIE structure is used by Chinese companies operating in sectors of the Chinese economy restricted by the authorities in order to issue securities, and thus raise the necessary capital for further development. The results indicate the large amount of accumulated capital, the huge number of entities involved in their operation, as well as the high risk associated with the investment.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91185729","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.06
K. Nowak
Bundled package of home loans and insurance are a natural phenomenon. Banks treat insurance as the primary security for the credit. For the consumer–borrower can help in financial difficulty. The purpose of insurance added to the loan is to reduce the risk of inability of borrowers to pay back their loans to banks and to ensure the safety of the insured or beneficiary of the insurance policy Therefore, insurance added to the loans should effectively protect borrowers. However, bundled package entails the risk of mismatching the insurance cover with the individual policy-holder insurance needs. Consumer–borrower may not be aware of the scope of insurance protection, which results from the insurance contract and general insurance terms and conditions. Therefore, in order to properly understand the offer of insurance, it becomes necessary to familiarize the borrower–the consumer with the general insurance conditions. However, as research shows, there is a big problem on the insurance sector with unintelligible insurance policy. The purpose of the article/hypothesis: The aim of the article is to compare and assess the scope of insurance cover based on the provisions of the general conditions of life insurance added to home loans by the two largest banks in Poland. Methodology: The article uses a comparative analysis of the scope of insurance cover on the based on provisions of the general conditions of insurance. The following categories have been selected from the general conditions of insurance: subject of insurance, definitions of events covered by the liability of the insurer, nature of benefits, amount of insurance and exclusions and limitations of liability. Results of the research: the analysis of the scope of insurance cover at selected banks in the article shows that selected categories from the general terms and conditions of insurance limit the potential level of insurance cover. After reviewing the general terms and conditions of insurance, consumer–borrower is not sure whether he will get help from the insurer when he needs it.
{"title":"Niepewność interpretacyjna zapisów ochrony ubezpieczeniowej konsumentów ubezpieczeń na życie oferowanych do kredytów mieszkaniowych na przykładzie wybranych ofert","authors":"K. Nowak","doi":"10.18778/2391-6478.3.31.06","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.06","url":null,"abstract":"Bundled package of home loans and insurance are a natural phenomenon. Banks treat insurance as the primary security for the credit. For the consumer–borrower can help in financial difficulty. The purpose of insurance added to the loan is to reduce the risk of inability of borrowers to pay back their loans to banks and to ensure the safety of the insured or beneficiary of the insurance policy Therefore, insurance added to the loans should effectively protect borrowers. However, bundled package entails the risk of mismatching the insurance cover with the individual policy-holder insurance needs. Consumer–borrower may not be aware of the scope of insurance protection, which results from the insurance contract and general insurance terms and conditions. Therefore, in order to properly understand the offer of insurance, it becomes necessary to familiarize the borrower–the consumer with the general insurance conditions. However, as research shows, there is a big problem on the insurance sector with unintelligible insurance policy. \u0000The purpose of the article/hypothesis: The aim of the article is to compare and assess the scope of insurance cover based on the provisions of the general conditions of life insurance added to home loans by the two largest banks in Poland. \u0000Methodology: The article uses a comparative analysis of the scope of insurance cover on the based on provisions of the general conditions of insurance. The following categories have been selected from the general conditions of insurance: subject of insurance, definitions of events covered by the liability of the insurer, nature of benefits, amount of insurance and exclusions and limitations of liability. \u0000Results of the research: the analysis of the scope of insurance cover at selected banks in the article shows that selected categories from the general terms and conditions of insurance limit the potential level of insurance cover. After reviewing the general terms and conditions of insurance, consumer–borrower is not sure whether he will get help from the insurer when he needs it.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82258831","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 : 2021-09-30DOI: 10.18778/2391-6478.3.31.04
M. Jabłońska, J. Stawska, Radosław Dziuba, M. Tekce, M. Krasoń
The aim of the article: The outbreak of the Covid-19 pandemic made it necessary to involve the state in the process of rescuing numerous business entities from bankruptcy. In the European Union, the aid measure for entrepreneurs takes a form of public aid, which, as it turns out, is the necessary and the only tool to protect SME sector enterprises against bankruptcy. Social isolation caused by the virus that spread on a large scale effectively inhibited the development of entrepreneurship, which is inherently related to the economic development of countries. The aim of the article is therefore to indicate that supporting entrepreneurs within the framework of public aid may help to reverse the unfavorable economic trends related to the disturbed development of entrepreneurship. Methodology: The article analyzes and assesses the government solutions introduced to the Polish economic reality, the purpose of which is to counteract the effects of Covid-19. The paper presents the current public aid tools available to entrepreneurs along with their financial dimension. Results of the research: State aid granted by the state to entrepreneurs during the crisis caused by Covid-19 is indispensable for their further functioning. The paper presents aid instruments related to COVID-19 that are available to entrepreneurs. The analysis shows that public aid addressed to entrepreneurs injured as a result of the lockdown comes from many sources and is almost tailored to the individual entrepreneur. The entities providing aid on the basis of state aid include: banks, local government units, executive bodies of local government units, Social Insurance Fund, State Fund for Rehabilitation of Disabled People, financial intermediaries, bodies constituting local government units, the European Investment Bank, Polish Development Fund, district and voivodeship labor offices and BGK (Bank Gospodarstwa Krajowego). Having prepared a package of systemic solutions, the government introduced them systematically, depending on the situation of individual sectors of the economy. Special solutions in the form of financial shields were addressed directly to the tourism sector (e.g. loans for tour operators) or the catering sector, which in the face of the pandemic were most exposed to a decrease in revenues. The impact of introduced solutions on the country’s economy can be assessed only in the next few years, but the multitude and diversified nature of the anti-crisis solutions introduced in Poland will certainly contribute to slowing down the negative consequences of Covid-19 in the economy.
{"title":"Public Aid and Entrepreneurship During the Covid-19 Pandemic in the European Union Countries","authors":"M. Jabłońska, J. Stawska, Radosław Dziuba, M. Tekce, M. Krasoń","doi":"10.18778/2391-6478.3.31.04","DOIUrl":"https://doi.org/10.18778/2391-6478.3.31.04","url":null,"abstract":"The aim of the article: The outbreak of the Covid-19 pandemic made it necessary to involve the state in the process of rescuing numerous business entities from bankruptcy. In the European Union, the aid measure for entrepreneurs takes a form of public aid, which, as it turns out, is the necessary and the only tool to protect SME sector enterprises against bankruptcy. Social isolation caused by the virus that spread on a large scale effectively inhibited the development of entrepreneurship, which is inherently related to the economic development of countries. The aim of the article is therefore to indicate that supporting entrepreneurs within the framework of public aid may help to reverse the unfavorable economic trends related to the disturbed development of entrepreneurship. \u0000Methodology: The article analyzes and assesses the government solutions introduced to the Polish economic reality, the purpose of which is to counteract the effects of Covid-19. The paper presents the current public aid tools available to entrepreneurs along with their financial dimension. \u0000Results of the research: State aid granted by the state to entrepreneurs during the crisis caused by Covid-19 is indispensable for their further functioning. The paper presents aid instruments related to COVID-19 that are available to entrepreneurs. The analysis shows that public aid addressed to entrepreneurs injured as a result of the lockdown comes from many sources and is almost tailored to the individual entrepreneur. The entities providing aid on the basis of state aid include: banks, local government units, executive bodies of local government units, Social Insurance Fund, State Fund for Rehabilitation of Disabled People, financial intermediaries, bodies constituting local government units, the European Investment Bank, Polish Development Fund, district and voivodeship labor offices and BGK (Bank Gospodarstwa Krajowego). Having prepared a package of systemic solutions, the government introduced them systematically, depending on the situation of individual sectors of the economy. Special solutions in the form of financial shields were addressed directly to the tourism sector (e.g. loans for tour operators) or the catering sector, which in the face of the pandemic were most exposed to a decrease in revenues. The impact of introduced solutions on the country’s economy can be assessed only in the next few years, but the multitude and diversified nature of the anti-crisis solutions introduced in Poland will certainly contribute to slowing down the negative consequences of Covid-19 in the economy.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"49 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85106093","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：