A5075720914- Financial Reporting and Valuation Research
- Financial Markets and Investment Strategies
- Accounting Theory and Financial Reporting
- Economic and Fiscal Studies
- Finance, Markets, and Regulation
- Financial Risk and Volatility Modeling
- Corporate Finance and Governance
- Market Dynamics and Volatility
- Polish socio-economic development
- Monetary Policy and Economic Impact
- Working Capital and Financial Performance
- COVID-19 Pandemic Impacts
- Corporate Social Responsibility Reporting
- Sustainable Finance and Green Bonds
- Complex Systems and Time Series Analysis
- Capital Investment and Risk Analysis
- Stock Market Forecasting Methods
- Fiscal Policy and Economic Growth
- Economic theories and models
- Management and Organizational Practices
- Energy, Environment, Economic Growth
- Business and Economic Development
- Stochastic processes and financial applications
- Global Financial Crisis and Policies
- Economic Growth and Productivity
University of Łódź
2015-2025
Capital University
2020
Southern Illinois University Edwardsville
2017
Northumbria University
2017
Instytut Nauk Ekonomicznych
2016
We provide empirical evidence about the performance of international SRI indices covering a broad sample 20 stock markets around world from all 6 continents, which includes 11 developed and 9 emerging markets, in period between 1 February 2017 31 July 2024The was compared with corresponding conventional national it evaluated on raw return basis as well using risk-adjusted measures. further analysed differences results before after COVID pandemic period.The investigated delivered, average,...
Abstract In this paper, we present empirical evidence about the "interval effect" in estimation of beta parameters for stocks listed on Warsaw Stock Exchange. We analyze models constructed returns calculated using intervals different length—that is, 1, 5, 10, and 21 trading days (corresponding to, roughly, 1 day, week, 2 weeks, month, respectively). cases which heteroskedasticity was present, estimated ARCH models. The results indicate that estimates betas same stock differ considerably when...
In this study, we investigate changes in risk of socially responsible investments (SRI) companies the periods before and during COVID-19 pandemic relying on a broad dataset covering SRI indices from 35 markets analyzed between 2016 2021. Our results provide evidence that systematic firms, measured by beta coefficient, increased most countries around world period. However, some our sample show remarkable resilience stability terms their patterns. particular, East Asia decreased pandemic,...
W artykule przedstawiono rezultaty wstępnych badań dotyczących związku pomiędzy koniunkturą giełdową a w realnej sferze gospodarki Polsce latach 1996-2009. Dokonano porównania struktury branżowej oraz efektywności gospodarowania spółek notowanych na Giełdzie Papierów Wartościowych Warszawie (GPW) z pozostałymi podmiotami funkcjonującymi skali całej przeprowadzono analizę zmianami cen akcji mierzonymi indeksem WIG wzrostem PKB, produkcji przemysłowej, inflacją, stopą procentową kursem...
We analyze the impact of monetary policy communication National Bank Poland (NBP), i.e. NBP announcements interest rates changes and release new macroeconomic figures, on Polish financial market in its two main segments: foreign exchange stock market, we provide evidence how they react to public information from NBP. In particular, are interested uncertainty (i.e. risk) effects wealth return) communication, whether had any influence returns activity those markets. Using GARCH methodology,...
The subject of this study is the profitability an investment strategy focused on high dividend yield stocks from British stock market in years 1994 - 2007. We follow Filbeck and Visscher (1997), who analysed for companies listed at London Stock Exchange (LSE) 1984 to 1994, construct portfolios Top Ten highest yielding FTSE100 index, which are rebalanced annually until Our findings also a broader context economic significance, following studies McQueen, Shields Thorley (1997) (2003), by...
Purpose This study aims to answer the question whether investment funds managers exhibit behavioural biases in their decisions. Furthermore, it investigates if fund managers, as a group of institutional investors, make decisions response central bank’s communication well other information relation various inclinations. Design/methodology/approach A comprehensive was conducted based on questionnaire, which is composed three main parts exploring: (1) general about under management surveyed (2)...
Uwzględnienie rachunku z zakresy wyceny opcji do wyjaśniania różnego rodzaju zjawisk finansowych doprowadził stworzenia podstaw tzw. Contingent Claim Analysis, który dla celów tej pracy nazwano analizą powiązanych pasywów. Jej istota opiera się na założeniu, że istnieje ścisły związek pomiędzy cenami akcji oraz obligacji wyemitowanych przez spółkę. W artykule przedstawiono istotę analizy pasywów przykłady jej zastosowania kapitału własnego i obcego spółki.
We analyze the impact of monetary policy communication National Bank Poland (NBP), i.e. NBP announcements interest rates changes and new macroeconomic figures, on financial market in its two main segments: foreign exchange stock market, we provide evidence how they react to public information released by NBP. In particular, are interested uncertainty (i.e. risk) effects wealth return) communication, whether had any influence returns activity those markets. Using ARCH methodology, document...
Purpose This study contributes to the pool of knowledge about impact monetary policy communication central banks on financial instruments' prices and assets' value in emerging markets. Design/methodology/approach Empirical analysis is executed using National Bank Poland (NBP) announcements its covering data from broad market three main segments: stock market, foreign exchange bonds market. The reactions are measured relative changes NBP also with respect investors' expectations....
<p><strong>Theoretical background</strong>: The capital structure is one of the most important areas in modern theory corporate finance. It has inspired development a large number theoretical approaches, but universally accepted not yet been developed. A common belief holds that companies try to achieve stable long term; thus, that, at given time, are characterised by relatively low (or high) level debt, also probably had same previous...
: The paper deals with the problem of discrepancy between fundamental values shares in stock market and their prices. In particular it discusses excessive volatility prices compared changes value determined as present dividends paid by company. results research on this issue for US initiated popularized Robert Shiller provided strong arguments against hypothesis capital efficiency stating that immediately account any new information affecting assets. This has been studied neither Polish nor...
Background: The subject of this paper is related to cash management and determinants companies’ holdings within the framework corporate finance theory. One phenomenon that has received considerable attention upward trend in US public firms, which been explored a number studies. There are no studies explaining whether trends Poland similar those observed biggest world economy. In empirical devoted Poland, analysis aggregate data little interest.
 Research purpose: focus article on...
One of the most prominent changes in development finance as a scientific discipline at turn 21st century has been rapidly increasing interest behavioral finance: field of...