Suchergebnisse

For efficient recovery of an enterprise in crisis good regulations and financial leverage are necessary. Enterprises and banks in Poland received new efficient law and financial instruments for restructuration in the Restructuring Law. In the future, the priority will be the recovery of enterprises. Banks and saving and loan associations and guarantee funds may play an important role in the recovery processes for enterprises in crisis. The article presents the functions and instruments of banks, including the application of mezzanine capital. Without the provision of "survival capital" by banks or associations, in many situations the restructuring will not be possible. The way in which enterprises see the contemporary support of the banks for restructuration processes is presented in the study conducted under the leadership of the author. In the last years, though, barriers to restructuration existed, e.g. in banks they include risk regulations, capital adequacy and banking tax.

AbstractThe development of Islamic finance, their crisis-resistance and possibilities for using experience of this sector in conventional banking industry are being subject of studies in many countries, also non-Muslim ones. In this paper the author presented the analysis of Islamic finance development and its determinants basing on examples from Europe. Such banks and investment funds have a growing share in European markets, which is confirmed by the latest EY's data. Main obstacles to Islamic finance development include, among others: incompatibility of legal regulations in non-Muslim countries, low demand among Islamic diaspora in Europe, shortage of qualified Sharia scholars, unsatisfactory standardization of Islamic financial products and accounting policies. International Islamic finance institutions (incl. AAOIFI and IFSB) play a significant part in overcoming them. Particularly beneficial legislative changes were introduced in Luxembourg, Germany, Russia and in the United Kingdom. Emerging of other Islamic banks, increase in number of Islamic windows in traditional banks and further development of Islamic investment funds in Europe are to be expected.

Among other barriers for investments in small and medium companies' development – financing gap seems to be the most serious problem in many EU countries. Both financial institutions and state authorities will need some knowledge on the subject to carry out sustainable economic growth policy, but also in the context of EU requirements concerning aid programs for business. There is a significant financing gap in SMEs in Poland; however different methods of its estimation give very different results. At the same time methodology of gap estimation models is still imperfect, as evidenced among others by large dispersion of the results. Further research in this area is necessary. Both financial institutions and state authorities will need some knowledge on the subject to adopt sustainable economic growth policy, but also in the context of EU requirements concerning aid programs for business. Hence permanent monitoring od the gap in the macroeconomic scale is necessary. Another research problem are forms of financing of SMźs', their accessibilitв and costs for companies. Despite all the reservations for imperfection of particular models for financing gap research, they are theoretically correct and they have practical value. Further research aiming at the improvement of existing gap estimation models is justifiable. ; 12 ; 187-198

Abstract
Cultural and religious factors do have some connection with results achieved in business; it is particularly well visible on the financial market. The paper presented possibilities of researching connections between cultural and religious factors and success in business, based on selected measures. Analysis covers three areas: top managers' incomes, effectiveness measured by return on capital, risk appetite of financial institutions with international capital and international board of managers. Indicators of correlations and comparison of measures used for analysis confirm inter-relationships of cultural and religious factors and success in business.

RESUME The monograph includes many valuable opinions from international experts, as well as the author's reflections, rich statistical material and interesting case studies. After each chapter it includes problems and questions for students, thus it has the nature of a handbook. But, in my opinion, it will also be an important source publication for all of those interested in researching the shadow banking sector and designing business models which do not pose a threat to financial stability from the sector in question; its closing up would probably be nonsense. The author of the monograph rightly concludes that legal arbitration creates development potential for parallel banking - its limitation by means of European Union regulations and international standards is vital but insufficient. The demand for private money issued by parallel banking, e.g. for the excluded or those looking for inexpensive money, is decisive. The conclusion that the international aspect of origin and functioning of parallel banking has been ignored in the analyses conducted to date, and that it will increase in importance, is also significant. This also concerns financial pyramids, which in recent years have appeared on both a slocal and international scale. I presume these problems are also worth discussing more broadly with undergraduate and doctoral students (which, after all, was the intention of Professor Jan K. Solarz); unfortunately, finance and banking handbooks give shadow banking only rudimentary coverage, if any. ; 2 ; 126-132

Abstract
Islamic banking is highly specific and is based on the Sharia law. This banking offers new products. which comply with the prohibitions of riba, maysir, gharar. Dynamic development of this banking in the word is the consequence of its opening to culturally diverse clients, and not only Muslims. Numerous researches demonstrate that many not-Muslim clients use the financial products which are offered in Islamic banks and in the "Islamic windows" in conventional banks. The Islamic banking offer is increasingly more often dedicated to the clients beyond the Muslim community, and at the same time the products dedicated to this community are offered by traditional banks. In this way the Islamic banking offer diffuses to other cultures.

This article has a following thesis: changes in banking and a role of banks in real economy in last years, give an argument for treating banks as public good. Banks received a great support from governments as a result of the subprime crisis. G-20 and European Commission recommended new regulations for this sector after crisis. As consequence of banking development more than 90% of population use banking services in many countries. New social functions of banks appeared. Doctrines about recovery and government support for banks were changed in parallel (e.g. LoLR). Presently there are some arguments for recognition of public good doctrine in banking such as: a very big area for state regulation, state banking supervision, state system of deposits insurance, realization of task delegated by the state, social responsibility of banks and other. These arguments confirm that banks' activity has a particular importance for society and economy and would be public good.

The purpose of the article is to determine the development opportunities of small and medium-sized enterprises in Poland. The authors paid special attention to finding and defining barriers to their development not only resulting from administrative and legal conditions, but also from the skills and resourcefulness of the entrepreneurs themselves. The research also identified the sources of success for this type of enterprises. ; Celem artykułu jest określenie możliwości rozwoju małych i średnich firm w Polsce. Autorzy szczególną uwagę poświęcili wyszukaniu i zdefiniowaniu barier ich rozwoju nie tylko wynikających z warunków administracyjnych i prawnych, ale także z umiejętności i zaradności samych przedsiębiorców. Badania pozwoliły również określić źródła sukcesu tego typu przedsiębiorstw. ; Le but de cet article est de déterminer les opportunités de développement des petites et moyennes entreprises en Pologne. Les auteurs ont porté une attention particulière à la recherche et à la définition d'obstacles à leur développement résultant non seulement de conditions administratives et juridiques, mais également des compétences et de la débrouillardise des entrepreneurs eux-mêmes. La recherche a également identifié les sources de succès de ce type d'entreprise. ; Der Zweck des Artikels besteht darin, die Entwicklungsmöglichkeiten von kleinen und mittleren Unternehmen in Polen zu bestimmen. Besonderes Augenmerk legten die Autoren darauf, Hemmnisse für ihre Entwicklung zu finden und zu definieren, die sich nicht nur aus administrativen und rechtlichen Bedingungen ergeben, sondern auch aus den Fähigkeiten und dem Einfallsreichtum der Unternehmer selbst. Die Untersuchung identifizierte auch die Erfolgsfaktoren für diese Art von Unternehmen. ; Цель статьи - определить возможности развития малых и средних предприятий в Польше. Авторы уделили особое внимание выявлению и определению барьеров на пути их развития не только в результате административных и правовых условий, но и от навыков и находчивости самих предпринимателей. ...

This article applies to the proposed introduction of a special bank tax, which is currently under discussion in both Europe and the USA. The paper observes the possible models of such a bank tax. It describes several types of bank tax, which has already been introduced in some countries; discusses whether this is actually an anti-crisis instrument, and characterized the key works that take place over such a tax in the European Union.