Financial Security Management in Central Units of Purchasing Groups

Zimon, Grzegorz; Kmiotek, Krystyna; Jurgilewicz, Marcin

doi:10.37394/23207.2020.17.89

Cited by 5 publications

(4 citation statements)

References 13 publications

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“…The literature indicates that in difficult times some enterprises perform better than others (Lee et al, 2017). Most often, small and medium-sized enterprises are the victims of crises (Jurgilewicz et al, 2020), which in a sense, have to bear a lot of responsibility for their small size (Eggers, 2020), and any, even small payment gridlocks can lead to their bankruptcy (Zimon, 2020). However, research shows that the use of trade credit had a significant and very positive impact on the survival of small and medium-sized enterprises in the financial crisis, especially those with certain financial constraints (McGuinness et al, 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of the COVID-19 pandemic on the due payments of Polish entreprises from selected industries

Dankiewicz

Balawejder²,

Tomczyk

et al. 2021

Investment Management and Financial Innovations

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The emergence of the COVID-19 pandemic has undoubtedly caused many perturbations, at the same time hindering the functioning and operation of enterprises from various industries, which, due to the often inability to conduct business, found themselves in a very difficult financial situation, with a difficult ability to settle their liabilities. Too high share of receivables that are not settled in a timely manner can result in various problems for enterprises, including, in particular, financial problems that can lead to large-scale bankruptcy. Considering a huge number of connections between individual entities, the bankruptcy of one may pose a risk of a wave of bankruptcy of others. The paper aims to analyze the impact of the COVID-19 pandemic on the payment situation of Polish enterprises. The research was conducted on the basis of an analysis of data on the payment situation of Polish enterprises from selected industries. Basic descriptive statistics was used in the study to characterize the material. The non-parametric Wilcoxon pair order test, which is the equivalent of the Student’s t-test for related variables, was used for the research. The research proved that at enterprises from almost every industry, the value of debts at the end of the second quarter of 2020 was higher than in the first quarter. It can therefore be concluded that the outbreak of the pandemic contributed to an increase in arrears, which, in turn, resulted in an increased risk of doing business. The greater the share of arrears with contractors, the greater the risk of financial problems at the enterprise, and hence the increased risk of bankruptcy.

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Section: Literature Reviewmentioning

confidence: 99%

The impact of the COVID-19 pandemic on the due payments of Polish entreprises from selected industries

Dankiewicz

Balawejder²,

Tomczyk

et al. 2021

Investment Management and Financial Innovations

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show abstract

“…The infectious disease COVID-19 undoubtedly had an impact on Polish economic security. The first case of the disease was reported in December 2019 in China (Tia, and others, 2020;Zhu, Zhang, Wang, Li X, Yang, Song, et al, 2020;Zimon, Jurgilewicz, Kmiotek, 2020). The infectious disease showed a rapid growing trend in various countries of the world and on March 11, 2020 WHO declared it a pandemic (E. Satomi, and others, 2020).…”

Section: Reserve Requirement Ratio and Forecastingmentioning

confidence: 99%

Forecasting the Reserve Money of the Central Bank of Poland in the Aspects of Economy Security

Jurgilewicz¹,

Malec²,

Piwowarski³

et al. 2021

Journal of Security and Sustainability Issues

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Forecasting of monetary policy tools, including reserve money of the Central Bank of Poland, in order to optimise economic decisions made by business entities operating on this market, becomes a basic canon of knowledge, in order to minimise a risk of undertaken economic operations -is currently the area of our investigation. The article raises a problem of forecasting the reserve money of the Central Bank of Poland on the basis of initial information received from the National Bank of Poland. The studies started with analysis and evaluation of time series of reserve money of the Central Bank in Poland. Then the analysed series were divided into two parts. Based on obtained results, the researchers performed forecasting of the first part of separated time series of reserve money of the Central Bank in Poland with the use of different methods. The above mentioned time series consists of 132 elements. Later on, the researches chose the best forecasting method and that was the basis for initial time series forecasting of reserve money of the Central Bank in Poland in mil PLN in retrospective terms during 2010-2021 for the next 2021-2022 years.

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“…If the value of the subject of the dispute cannot be determined, the mediator's remuneration for conducting the mediation procedure is PLN 150 for the first meeting, and PLN 100 for each subsequent meeting, but not more than PLN 450 in total. Comparing these fees with the much higher costs of a court trial, the highly positive manifestation of the state's economic security policy in this respect should be emphasized (Brzeziński, 2019;Zimon et al, 2020, Grabowska, 2019a.…”

Section: Mediation Costs In Real Estate Disputes and The State's Economic Security Policymentioning

confidence: 99%

Mediation in Real Estate Disputes as an Element of the State's Economic Security Policy

Jurgilewicz¹,

Misiuk²,

Dankiewicz³

et al. 2021

ERSJ

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Purpose: Mediation is one of the alternative forms of resolving legal disputes. Considering the importance of mediation in shaping social attitudes, and due to the scope of relevant possibilities introduced by the Polish legislator into the legal system, in this article we analyze the institution of mediation from the perspective of its application in real estate disputes, whose low costs and less formal nature compared to court trials relieve public funds, having a positive impact on the state's economic security policy. Design/Methodology/Approach: The study was carried out using the method of problem analysis and synthesis, and its main goal was to systemize the research field for future studies. Findings: The analysis highlights the enormous potential of mediation as an alternative method of dispute resolution, for real estate disputes. It was found that mediation can be highly beneficial for entities that choose this way of proceeding. This implies not only financial advantage, understood as optimizing the costs of proceedings, but also image-related benefits. Practical Implications: The problems tackled in the article may contribute to increased awareness of alternative dispute resolution methods, especially mediation. The analyses carried out in this paper should be of value to entrepreneurs but also to natural persons who may find themselves in a dispute with real estate entities. Business owners should therefore pay attention to several legal and economic benefits that can be achieved with the use of mediation, especially that its use optimizes the level of the state's economic security policy pursued in this area. Originality: The paper explores the problems of public and economic life that have not been much discussed in the literature in the context of solving real estate disputes. Entities that are unable to dialogue during real estate disputes may show a less conciliatory attitude, focused on escalating the conflict and getting their own way, rather than trying to constructively resolve the dispute, a situation which generates additional costs, especially in real estate business transactions, not only for the parties but also for the State Treasury.

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Financial Security Management in Central Units of Purchasing Groups

Cited by 5 publications

References 13 publications

The impact of the COVID-19 pandemic on the due payments of Polish entreprises from selected industries

The impact of the COVID-19 pandemic on the due payments of Polish entreprises from selected industries

Forecasting the Reserve Money of the Central Bank of Poland in the Aspects of Economy Security

Mediation in Real Estate Disputes as an Element of the State's Economic Security Policy

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