Analiza ekonomiczna przedsiębiorstw w warunkach niepewności
Economic analysis of an enterprise under conditions of uncertainty
Contributor(s): Cezary Kochalski (Editor)
Subject(s): Politics / Political Sciences, Politics, Social Sciences, Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Micro-Economics, Economic policy, Sociology of the arts, business, education, Economic development, Law on Economics, EU-Accession / EU-DEvelopment, Financial Markets, Accounting - Business Administration, Marketing / Advertising, Business Ethics, Socio-Economic Research, EU-Legislation
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: przedsiębiorstwo;analiza finansowa;podejmowanie decyzji w warunkach niepewności;zrównoważony rozwój;raportowanie;interesariusze;bank centralny;rentowność;bankructwo;innowacje;rachunkowość;
Summary/Abstract: W monografii zajęto się wybranymi zagadnieniami analizy ekonomicznej pod kątem wzbogacenia poznawczych, metodycznych oraz aplikacyjnych podstaw systemu oceny przedsiębiorstw. Autorzy wychodzą z założenia, że ostatnie szoki kryzysowe, w tym te związane z pandemią COVID-19 oraz wojną w Ukrainie, stawiają przed teoretykami i praktykami zadanie doskonalenia metod i narzędzi analizy ekonomicznej, zwłaszcza w odniesieniu do źródeł wyznaczających zakres i możliwości ocen, a także sposobów identyfikacji oddziaływania szoków kryzysowych na rentowność i płynność finansów przedsiębiorstw. Ulepszenie metod i narzędzi analizy ekonomicznej, dzięki wiedzy i umiejętnościom zdobytym już na polu uniwersyteckim oraz bankowości centralnej, uznano za niezbędne w kontekście monitorowania stanu i wyników polskiej gospodarki. Monografia powstała w związku z jubileuszem 30-lecia Katedry Controllingu, Analizy Finansowej i Wyceny Uniwersytetu Ekonomicznego w Poznaniu.
- E-ISBN-13: 978-83-8211-195-8
- Print-ISBN-13: 978-83-8211-194-1
- Page Count: 174
- Publication Year: 2023
- Language: Polish
Potrzeby informacyjne interesariuszy w świetle odmiennych podejść teorii interesariuszy
Potrzeby informacyjne interesariuszy w świetle odmiennych podejść teorii interesariuszy
(The information needs of stakeholders in the light of different approaches to the stakeholders theory)
- Author(s):Andrzej Niemiec, Wanda Skoczylas
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Energy and Environmental Studies, Environmental and Energy policy, Accounting - Business Administration, Marketing / Advertising, Business Ethics, Socio-Economic Research
- Page Range:13-33
- No. of Pages:21
- Keywords:teoria interesariuszy;potrzeby informacyjne;raportowanie niefinansowe;
- Summary/Abstract:The profit paradigm in business declining, replaced by hybrid organizations pursuing profits alongside social and environmental goals. Stakeholders’ involvement and dialogue are vital for the company’s success in this transformation. The objective is to examine the evolving needs of stakeholders in terms of information and their communication expectations in light of two alternative approaches in stakeholder theory: managerial and normative (Gray et al., 1996). The research method employed is a systematic literature review. The dialogic approach in stakeholder management involves engaging stakeholders in the process of defining priority issues and providing relevant information, collaboration, and accommodating changing expectations. The monologic approach is based on providing one-sided scientific knowledge by technical experts, limiting debate and rejecting alternative perspectives. The growing significance of stakeholders generates escalating principal-agent conflict between stakeholders and managers, as well as other capital providers.
Wpływ przyjętej polityki rachunkowości na wyniki analizy finansowej – decyzje jednostek w warunkach niepewności
Wpływ przyjętej polityki rachunkowości na wyniki analizy finansowej – decyzje jednostek w warunkach niepewności
(The impact of the adopted accounting policy on the results of the financial analysis—decisions of individuals under conditions of uncertainty)
- Author(s):Zofia Wierzbińska, Marek Wierzbiński
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Accounting - Business Administration, Marketing / Advertising, Business Ethics
- Page Range:34-52
- No. of Pages:19
- Keywords:polityka rachunkowości;analiza finansowa;raportowanie finansowe;
- Summary/Abstract:The purpose of this paper is to present the impact of the adopted accounting policy and its impact through the financial statements on the results of the financial analysis—by influencing the base data used in this analysis. The issues presented in the paper are issues in the area of individuals’ decision-making allowed by law—and they still provide the entity with tools to improve its “financial image”. Deliberate, aggressive data distortions would have a far-reaching impact.
Ewolucja raportowania zrównoważonego rozwoju przedsiębiorstw w odpowiedzi na zmieniające się oczekiwania informacyjne interesariuszy
Ewolucja raportowania zrównoważonego rozwoju przedsiębiorstw w odpowiedzi na zmieniające się oczekiwania informacyjne interesariuszy
(Evolution of sustainable development reporting by companies in response to changing informational expectations of stakeholders)
- Author(s):Andrzej Niemiec, Wanda Skoczylas
- Language:Polish
- Subject(s):Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Micro-Economics, Sociology of the arts, business, education, Law on Economics, EU-Accession / EU-DEvelopment, Accounting - Business Administration, Marketing / Advertising, Business Ethics, Socio-Economic Research, EU-Legislation
- Page Range:53-68
- No. of Pages:16
- Keywords:teoria interesariuszy;raportowanie niefinansowe;zrównoważony rozwój;
- Summary/Abstract:Reporting is a vital management and communication tool for businesses to engage with stakeholders. Stakeholders expect reports of high quality, primarily those containing decision-relevant information, faithfully reflecting the presented content. The pursuit of effective sustainable development strategies has led to various changes, including institutional and capital market changes, as well as changes in the functioning of businesses. A company’s success is now expressed in economic sustainability, social responsibility, and environmental responsibility, which determine management tasks and the measurement and reporting of the company’s multidimensional results to stakeholders. This issue gains particular importance due to the expanding circle of significant company stakeholders whose success is intertwined with the organization’s competitiveness in the market. The chapter aims to present the evolution of non-financial reporting toward sustainable development reporting in light of changing informational expectations of stakeholders and supporting legal regulations. The research methodology used in the study is an argumentative method (Betti, 1955) and hermeneutic method (Betti, 2022). The study is interdisciplinary, combining several fields of social sciences, including economics and finance, social communication and media sciences, management and quality sciences, as well as legal and sociological sciences. The results of the conducted research confirmed that stakeholder information expectations toward organizations change in accordance with evolving environmental conditions and increasing complexity. To meet these expectations, various actions are taken to develop suitable methodological solutions. Legislative changes are also essential, in line with the monological stakeholder theory approach. The goal of legislative changes is to ensure comparable, reliable, and significant informationusing information technologies regarding the implementation of sustainable development strategies. Controlling ESG (Environmental, Social, Governance) risks control prevents costly consequences.
Analiza ekonomiczna przedsiębiorstw w banku centralnym
Analiza ekonomiczna przedsiębiorstw w banku centralnym
(Economic analysis of an enterprise in the central bank)
- Author(s):Cezary Kochalski
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Economic policy, Financial Markets
- Page Range:69-86
- No. of Pages:18
- Keywords:analiza ekonomiczna;bank centralny;analiza finansowa;
- Summary/Abstract:Economic analysis can be considered in various approaches, as a scientific discipline, a method and an instrument or function of management. All these approaches occur in the central bank, which is of particular importance and plays a key role in the system of functioning of the economy. The knowledge and authority of central banks results, among other things, from the quality of economic analysis carried out. Economic analysis of enterprises is one element of the system of assessment of economic and inflationary processes. The aim of the study is to identify the situation regarding the central bank’s approach to assessing the condition and economic results of enterprises based on economic indicators, in particular those relating to profitability and financial liquidity. The study is not so much about recognizing the situation in terms of profitability and financial liquidity in the corporate sector in the period under review, but rather about demonstrating that the economic analysis of enterprises is an important area of analysis and research carried out in central banks. To a limited extent, detailed instrumental and methodological aspects of the economic analysis of enterprises have been addressed, which deserve to be highlighted in separate publications.
Rentowność przedsiębiorstw w warunkach niepewności – analiza z wykorzystaniem sieci neuronowych
Rentowność przedsiębiorstw w warunkach niepewności – analiza z wykorzystaniem sieci neuronowych
(Profitability of enterprises during changes in macroeconomic conditions—analysis using neural networks)
- Author(s):Dawid Szutowski
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Financial Markets, Accounting - Business Administration, Marketing / Advertising, Business Ethics
- Page Range:87-101
- No. of Pages:15
- Keywords:rentowność przedsiębiorstw;warunki makroekonomiczne;sieć neuronowa;
- Summary/Abstract:The purpose of this chapter is to identify the effects of the selected macroeconomic variables on the profitability of enterprises. A neural network, specifically a multilayer perceptron, was used to analyse the data. The input layer included three macroeconomic variables (unemployment rate, real disposable income and wages), and the output layer included the target variable, i.e. net return on assets (ROA). Sensitivity analysis was also performed. The study used data for almost 6,300 enterprises representing 21 sections specified in the Polish Classification of Activities. The analysis indicated that the most important variable in the context of shaping ROA is the dynamics of the average monthly gross real wage in the national economy. The second most important factor is the unemployment rate, and the least important is the dynamics of gross real disposable income. The paper attempts to fill the research gap concerning the effects of macroeconomic variables on company profitability.
Rentowność czy wydajność gotówkowa? Syntetyczny pomiar efektywności w kontekście działań z zakresu kreatywnej rachunkowości
Rentowność czy wydajność gotówkowa? Syntetyczny pomiar efektywności w kontekście działań z zakresu kreatywnej rachunkowości
(Profitability or cash efficiency? Synthetic measurement of efficiency in the context of creative accounting activities)
- Author(s):Jarosław Nowicki
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Accounting - Business Administration, Business Ethics
- Page Range:102-117
- No. of Pages:16
- Keywords:analiza finansowa;rentowność;wydajność gotówkowa;płynność finansowa;pomiar efektywności;
- Summary/Abstract:The chapter is methodological in nature. It fits into the discourse on the usefulness of economic analysis tools for enterprises, such as various financial ratios. The aim of the chapter is to assess profitability ratios and cash efficiency ratios as synthetic efficiency measures, particularly in terms of their resilience to common practices of creative accounting. The main method used in the chapter is deduction, and the discussed issues are illustrated with numerical examples. The chapter demonstrates that cash efficiency ratios possess characteristics that make them synthetic measures of efficiency, bordering on profitability and financial liquidity. They are more resilient to the practices of creative accounting compared to profitability ratios and, as such, should be used more frequently as primary synthetic efficiency measures, which currently seem to be dominated by profitability ratios. It is advisable to consider a broader reliance on cash efficiency or, at least, parallel reporting of profitability and cash efficiency. In cases where there are different indications in these two areas, greater importance should be attached to cash efficiency than profitability in financial analysis, which can be successfully done, e.g., in the analysis of publicly traded companies.
Holistyczna koncepcja procesu bankructwa przedsiębiorstwa
Holistyczna koncepcja procesu bankructwa przedsiębiorstwa
(A holistic concept of the corporate bankruptcy process)
- Author(s):Piotr Ratajczak
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Accounting - Business Administration, Business Ethics
- Page Range:118-134
- No. of Pages:17
- Keywords:bankructwo;niewypłacalność;przewidywanie bankructwa;płynność;rentowność;
- Summary/Abstract:Corporate bankruptcy prediction has been addressed in countless studies, while the bankruptcy process is scarcely recognized in the literature. The aim of this study is to develop a holistic concept of the corporate bankruptcy process. The primary method used in the study was a review of the literature, and in the absence of publications simultaneously addressing all the issues included in the aim, a syllogistic inference scheme was adopted. The concept developed assumes that bankruptcy is a process whose shape depends on short-term symptoms of bankruptcy (i.e. profitability and liquidity), long-term symptoms of bankruptcy (i.e. growth and development), possibly acquired cash to counteract these symptoms, as well as the agility and resilience of the company.
Przyczyny i skutki zatorów płatniczych w przedsiębiorstwach w sektorze B2B w Polsce i krajach europejskich
Przyczyny i skutki zatorów płatniczych w przedsiębiorstwach w sektorze B2B w Polsce i krajach europejskich
(Causes and effects of payment backlogs in B2B sector in Poland and European countries)
- Author(s):Agata Sierpińska-Sawicz
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Law on Economics, Accounting - Business Administration, Business Ethics, EU-Legislation
- Page Range:135-155
- No. of Pages:21
- Keywords:zatory płatnicze;sektor B2B;przeterminowanie płatności faktur;kredyt kupiecki;
- Summary/Abstract:The aim of the article was to analyse overdue invoice payments that generate payment backlogs and their economic consequences. Based on the data taken from the European Payment Index Reports, the analysed period was divided into two sub-periods: 2016–2019 and 2020–May 2023. The level of payment backlogs in the first period was mainly affected by internal factors—instruments of the trade credit policy, such as dates and forms of invoice payment and precautions undertaken against the risk of loss of receivables. From 2020, the increase in payment backlogs was caused by macro factors such as the economic situation, the level of inflation and interest rates or exchange rate policy. The negative effects of payment backlogs, such as additional costs of penalty interest, debt collection costs, deterioration of financial liquidity, loss of income, problems with staying on the market, limited implementation of innovations and development, redundancies and the lack of new hires after 2020 have clearly intensified. On a macro scale, they will be one of the causes of the economic slowdown.
Pomiar działalności innowacyjnej przedsiębiorstw
Pomiar działalności innowacyjnej przedsiębiorstw
(The measure of companies’ innovation performance)
- Author(s):Aleksandra Szulczewska-Remi
- Language:Polish
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, Business Ethics
- Page Range:156-172
- No. of Pages:17
- Keywords:innowacje;działalność innowacyjna przedsiębiorstw;teoria endogenicznego wzrostu gospodarczego;
- Summary/Abstract:The uncertainty of the social and economic situation require a reliable measurement of innovation, because data on this subject can help enterprises better assess the contribution of innovation to their development and the achievement of intended goals, and then help decision-makers to monitor the effectiveness and efficiency of pro-innovation activities. However, it should be noted that the measure of innovation performance should not be based on one indicator alone. The complexity of the innovation process requires taking into account its individual stages, during which the investment outlays are transformed into innovative products or processes. In addition, research conducted among Polish enterprises showed that they are not interested in monitoring macroeconomic indicators related to innovative activity, often analysed in various types of scientific papers. Therefore, the purpose of this study is to evaluate the indicators of measuring companies’ innovation performance. Based on the bibliometric analysis, a two-stage innovation process was adopted consisting of the research and development stage and the comercialisation stage. In turn, the development of an original definition of the innovative process allowed to group the described indicators consistently into two groups: indicators of research and development activity and indicators of commercialisation.
Zakończenie
Zakończenie
(Conclusions)
- Author(s):Cezary Kochalski
- Language:Polish
- Subject(s):Politics / Political Sciences, Social Sciences, Economy, Law, Constitution, Jurisprudence
- Page Range:173-174
- No. of Pages:2