Market Efficiency In The Polish Capital Market
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| Author | : Marek Dietl |
| Publisher | : Taylor & Francis |
| Total Pages | : 371 |
| Release | : 2022-12-30 |
| Genre | : Business & Economics |
| ISBN | : 100081775X |
The first stock exchange in Warsaw – capital city of the Kingdom of Poland– was established in 1817. Over the past 205 years, the fortunes of the capital market have been closely linked to the "bumpy road" of Polish history. The establishment of the GPW Warsaw Stock Exchange in 1991 was a landmark for transformation from a centrally planned communist economy to a market-driven capitalist one. Since the doors of the exchange reopened, Polish GDP per capita (current USD) increased eight times, translating into an average yearly growth rate of over 7%. The capital market has played a pivotal role in the economic success of Poland over the last three decades. It is not easy to precisely quantify the impact, as it was rather a spill-over effect. Economic growth has fostered the development of a capital market, and more efficient conversion of savings to investments via the capital market. The excellence of capital market institutions can be gauged with reference to various parameters. A synthetic measure is so-called market status. According to FTSE Russell (global index provider), Polish capital attained developed market status in 2018, being the first and only post-communist state to do so. It is fair to say that transformation has been completed and developed market status indicates clearly that the institutions and regulations are world class. The current challenge is competing with other developed markets for the best issuers and offering the most demanding investors an excellent trading experience. This book offers scientific insight into the Polish capital market story. Authored by a group of renowned scholars, with contributions aspiring to the highest academic standards for theoretical considerations and empirical research. The book covers various topics, including links between monetary policy and capital markets, micro and macro market structures, and investors and issuers' behaviour and strategies. All chapters are rooted in contemporary finance theory, supported by various econometric models based on the most recently available data. The book aims to provide academics and practitioners insight into the Polish capital market, appealing especially to those interested in gaining a deeper understanding of emerging markets' successful transformation into developed ones. It can also be used as supplementary reading for doctoral and master’s students in finance, particularly relating to capital markets and economics – predominantly development economics and economic policy.
| Author | : Jean-Pierre Casey |
| Publisher | : CEPS |
| Total Pages | : 142 |
| Release | : 2005 |
| Genre | : Business & Economics |
| ISBN | : 9290795964 |
Assessing regulatory measures taken at the EU level that impact European bond markets, this book examines the desirability, utility, and feasibility of certain policy measures.
| Author | : Roman Frydman |
| Publisher | : Central European University Press |
| Total Pages | : 239 |
| Release | : 1994-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9633864917 |
In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
| Author | : Patrick Young |
| Publisher | : FT Press |
| Total Pages | : 248 |
| Release | : 1999 |
| Genre | : Business & Economics |
| ISBN | : |
This book is a blueprint for coping the revolution, it gives a new vision of finacial markets outlined clearly and succinctly in print for the first time.
| Author | : Kesra Nermend |
| Publisher | : Springer |
| Total Pages | : 409 |
| Release | : 2017-10-06 |
| Genre | : Business & Economics |
| ISBN | : 3319629387 |
This proceedings volume presents the latest scientific research and trends in experimental economics, with particular focus on neuroeconomics. Derived from the 2016 Computational Methods in Experimental Economics (CMEE) conference held in Szczecin, Poland, this book features research and analysis of novel computational methods in neuroeconomics. Neuroeconomics is an interdisciplinary field that combines neuroscience, psychology and economics to build a comprehensive theory of decision making. At its core, neuroeconomics analyzes the decision-making process not only in terms of external conditions or psychological aspects, but also from the neuronal point of view by examining the cerebral conditions of decision making. The application of IT enhances the possibilities of conducting such analyses. Such studies are now performed by software that provides interaction among all the participants and possibilities to register their reactions more accurately. This book examines some of these applications and methods. Featuring contributions on both theory and application, this book is of interest to researchers, students, academics and professionals interested in experimental economics, neuroeconomics and behavioral economics.
| Author | : Anna Visvizi |
| Publisher | : Routledge |
| Total Pages | : 284 |
| Release | : 2020-10-21 |
| Genre | : Political Science |
| ISBN | : 1000228533 |
By all accounts, the case of Poland and its segue to market economy and democracy is a success story: 30 years of uninterrupted growth and development, infrastructure expansion, and modernization of the economy and society. Epochal changes have unfolded in a timespan of merely three decades. Change has taken place so fast that children born in late 1980s and onwards cannot remember what life in Poland under communism was like and cannot relate to it. Also, many elderly people, easy victims of romanticizing their own youth, tend to forget. As a result, the uniqueness of Polish transition and transformation, the boldness and efficiency of reforms, and the success that Polish society mastered together, tend to be undermined today both domestically and internationally. Poland has now been a member of the EU for more than 15 years. During that time, Poland’s image on the EU scene evolved from newcomer, through ‘model child’, champion of growth, to – in some respects – a maverick. This volume’s objective is to remind society, old and young, researchers, scholars and practitioners, that Poland’s success is an outcome of well-thought out and bold structural reforms implemented in a swift and timely manner, of society’s support for these reforms, and of third actors’ benign assistance. Looking back on the 30 years since the collapse of communism, and at the over 15 years of EU membership, this book offers an interdisciplinary, comprehensive and critical insight into factors and processes that have led to today’s Poland.
| Author | : Tadeusz Dudycz |
| Publisher | : Springer |
| Total Pages | : 312 |
| Release | : 2017-12-29 |
| Genre | : Business & Economics |
| ISBN | : 3319682857 |
This volume offers a collection of studies on problem of organization’s efficiency, criteria for evaluating the efficiency, tools and methods for measuring the efficiency. The articles included present an interdisciplinary look at efficiency, its essence and the principles of its measurement. The contributions also identify a broad spectrum of conditions for achieving efficiency in various types of organizations and systems (e.g. public institution, non-profit organizations), representing various industries. The book collects selected papers presented at the 7th International Conference "Efficiency as a Source of the Wealth of Nations", held in Wrocław, Poland, in May 2017.
| Author | : Irina Ivashkovskaya |
| Publisher | : Springer Nature |
| Total Pages | : 279 |
| Release | : 2019-12-09 |
| Genre | : Business & Economics |
| ISBN | : 3030238504 |
The industrial development of emerging markets has been a powerful driver for mergers and acquisitions. The contributions collected in this book assess major M&A deals in the largest emerging capital markets (Brazil, Russia, India, China) and their role in shareholder value creation in the markets’ specific business environments. In addition, the book explores various dimensions of M&A deals in order to summarize the main trends in corporate control markets in the largest emerging countries, and how they differ from those in developed countries; to identify deal-performance relationships and the determinants of success or failure; to reveal the drivers for the premium in M&A deals; and to capture market responses to different M&A strategies. By doing so, the book makes a significant contribution to the literature, which has to date largely focused on developed markets.
| Author | : Elżbieta Bukalska |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 329 |
| Release | : 2023-11-09 |
| Genre | : Business & Economics |
| ISBN | : 1837536546 |
Trying to explain the sources of Poland’s economic success and decouple it from simple stylized facts on economic convergence anchored in the neoclassical growth models, the chapters show how the Polish economy rapidly moved away from the communist economic system, which had ended up in an economic collapse.
| Author | : Zofia Wilimowska |
| Publisher | : Springer |
| Total Pages | : 404 |
| Release | : 2017-08-31 |
| Genre | : Technology & Engineering |
| ISBN | : 3319672231 |
This three-volume set of books presents advances in the development of concepts and techniques in the area of new technologies and contemporary information system architectures. It guides readers through solving specific research and analytical problems to obtain useful knowledge and business value from the data. Each chapter provides an analysis of a specific technical problem, followed by the numerical analysis, simulation and implementation of the solution to the problem. The books constitute the refereed proceedings of the 2017 38th International Conference “Information Systems Architecture and Technology,” or ISAT 2017, held on September 17–19, 2017 in Szklarska Poręba, Poland. The conference was organized by the Computer Science and Management Systems Departments, Faculty of Computer Science and Management, Wroclaw University of Technology, Poland. The papers have been organized into topical parts: Part I— includes discourses on topics including, but not limited to, Artificial Intelligence Methods, Knowledge Discovery and Data Mining, Big Data, Knowledge Discovery and Data Mining, Knowledge Based Management, Internet of Things, Cloud Computing and High Performance Computing, Distributed Computer Systems, Content Delivery Networks, and Service Oriented Computing. Part II—addresses topics including, but not limited to, System Modelling for Control, Recognition and Decision Support, Mathematical Modelling in Computer System Design, Service Oriented Systems and Cloud Computing and Complex Process Modeling. Part III—deals with topics including, but not limited to, Modeling of Manufacturing Processes, Modeling an Investment Decision Process, Management of Innovation, Management of Organization.
