PL EN


Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2018 | t. 19, z. 9, cz. 3 Współczesny marketing i zarządzanie - problemy, wyzwania, szanse i perspektywy | 375--391
Tytuł artykułu

Risk Management in Enterprises Listed on the Warsaw Stock Exchange. The Role of Formal and Legal Determinants

Autorzy
Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The aim of the present paper is to present the role of formal and legal determinants in risk management in enterprises listed on the Warsaw Stock Exchange. Theoretical part shows the essence, types and role of stock exchange risk in shaping risk management processes in stock enterprises. While the empirical part includes research findings from analysis of formal and legal requirements for risk management in this enterprise group. (original abstract)
Twórcy
autor
  • Jagiellonian University in Cracow, Poland
Bibliografia
  • Act on Public Offerings and Conditions for the Introduction of Financial Instruments to Organised Trading and on Public Companies of 29 July 07, 2005 (Dz. U. 2005 no 184 item 1539).
  • Act on supervision over the capital market of July 29, 2005 (Dz. U. 2018 item 1417).
  • Act on Trading in Financial Instruments of July 29, 2005 (Dz. U. 2005 no 183, item 1538).
  • Al Janabi M.A.M. (2005), Trading Risk Management: Practical Applications to Emerging Markets [in:] S. Motamen-Samadian (ed.), Risk management in emerging markets, Palgrave Macmillan, Houndmills, Basingstoke, Hampshire, New York.
  • Bali T.G., Cakici N. (2010), World market risk, country-specific risk and expected returns in international stock markets, "Journal of Banking & Finance", vol. 34, no. 6, pp. 1152-1165.
  • Bromiley P., McShane M., Nair A., Rustambekov E. (2015), Enterprise Risk Management: Review, Critique and research directions, "Long Range Planning", vol. 48, pp. 265-276.
  • Campbell J.Y. (1993), Intertemporal Asset Pricing without Consumption Data, "American Economic Review", vol. 83, pp. 487-512.
  • Christopher M., Mena C., Khan O., Yurt O., (2011). Approaches to managing global sourcing risk, "Supply Chain Management: An International Journal", vol. 16, no. 2, pp. 67-81.
  • Code of corporate governance "Best Practice of GPW Listed Companies" (2016) [online], https://www.gpw.pl/pub/GPW/files/PDF/GPW_1015_17_DOBRE_PRAKTYKI_v2.pdf, access: 18.10.2018.
  • Derrabi M., Leseure M. (2005), Global Asset Allocation: Risk and Return on Emerging Stock Markets [in:] S. Motamen-Samadian (ed.), Risk management in emerging markets, Palgrave Macmillan, Houndmills, Basingstoke, Hampshire, New York.
  • Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to official stock exchange listing and on information to be published on those securities.
  • Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 Transparency II.
  • Elahi E. (2013), Risk management: the next source of competitive advantage, "Foresight", vol. 15, no. 2, pp. 117-131.
  • Escobari D., Jafarinejad M. (2018), Investors' Uncertainty and Stock Market Risk, "Journal of Behavioral Finance", forthcoming, pp. 1-28, [online], https://mpra.ub.uni-muenchen. de/86975/, date of access: 15.10.2018.
  • ESMA guidelines on regulation MAR (2016, 2017), [online], https://www.knf.gov.pl/dla_rynku/ Informacje_dla_podmiotow_nadzorowanych/mar/Wytyczne_ESMA, access: 20.10.2018.
  • French C.W. (2003), The Treynor Capital Asset Pricing Model, "Journal of Investment Management", vol. 1, no. 2, pp. 60-72.
  • Frigo M.L., Andersen R.J. (2011), Strategic Risk Management: A foundation for improving enterprise risk management and governance, "The Journal of Corporate Accounting & Finance", vol. 3, no. 4, pp. 81-88.
  • GPW Detailed Exchange Trading Rules in UTP system (2018) [online], https://www.gpw.pl/ pub/GPW/files/PDF/regulacje/SZOG_pl.pdf, date of access: 18/10/2018.
  • Grinols E.L., Turnovsky S.J. (1993), Risk, the financial market, and macroeconomic equilibrium, "Journal of Economic Dynamics and Control", vol. 17, no. 1-2, pp. 1-36 .
  • Grout P.A, Zalewska A. (2016), Stock market risk in the financial crisis, "International Review of Financial Analysis", vol. 46, pp. 326-345.
  • Konzelmann S., Wilkinson F., Fovargue-Davies M., Sankey D. (2010), Governance, regulation and financial market instability: the implications for policy, "Cambridge Journal of Economics", vol. 34, no. 5, pp. 929-954.
  • Lee J. (2017), Synergies, risk and the regulation of stock exchange interconnection, "Masaryk University Journal of Law and Technology", vol. 2, no. 5, pp. 291-321.
  • Lintner J. (1965), The valuation of risk assets on the selection of risky investments in stock portfolio and capital budgets, "Review of Economics and Statistics", vol. 47, pp. 13-37.
  • Liow K.H., Ibrahim M.F., Huang Q, (2006), Macroeconomic risk influences on the property stock market, "Journal of Property Investment & Finance", vol. 24, no. 4, pp. 295-323.
  • Maheu J.M., McCurdy T.H. (2007), Components of Market Risk and Return, "Journal of Financial Econometrics", vol. 5, no. 4, pp. 560-590.
  • Merton R.C. (1973), An Intertemporal Capital Asset Pricing Model, "Econometrica", vol. 41, no. 5, pp. 867-887.
  • Mossin J. (1966), Equilibrium in a Capital Asset Market, "Econometrica", vol. 34, no. 4, pp. 768-783.
  • Nyong M. (1997),Capital Market Development and Long run Economic Growth: Theory, Evidence and Analysis, "First Bank Review", vol. 12, pp. 13-38.
  • Regulation of the Minister of Finance of May 12, 2010 on detailed terms and conditions that must be satisfied by the official stock-exchange listing market and issuers of securities admitted to trading on such market (Dz. U. 2010 no 84, item 547).
  • Regulation of the Minister of Finance of March 29, 2018 on current and periodic information provided by issuers of securities and the conditions of regarding as equivalent of the information required by the non-member state (Dz. U. 2018, item 757).
  • Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC Text with EEA relevance.
  • Sharpe W.F. (1964), Capital assets prices: A theory of market equilibrium under conditions of risk, "Journal of Finance", vol. 19, pp. 425-442.
  • Slimane F.B. (2012), The Structural Evolution of Stock Exchanges, "Recherches en Sciences de Gestion", vol. 6, no. 93, pp. 47-71.
  • The GPW Rules (2018) [online], https://www.gpw.pl/pub/GPW/files/PDF/regulacje/regulamin_gpw_30.04.18.pdf, access: 18.10.2018.
  • Wu J., Hou H., Cheng S. (2010), The dynamic impacts of financial institutions on economic growth: Evidence from the European Union, "Journal of Macroeconomics", vol. 32, no. 3, pp. 879-891.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171540555

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.