Innovative investments, growth, risk and capability for survival from the perspective of value building for business owners
Journal Title: "Finanse" Czasopismo Komitetu Nauk o Finansach PAN - Year 2018, Vol 11, Issue 1
Abstract
This paper presents the innovative activity of enterprises as a process that is risky but necessary for the survival of a company in a competitive market, and as a way to maximize the long-term value for the owners. Risks and benefits were analysed, and the possible sources of added value in innovative projects were identified in the context of the capital market equilibrium and the budgeting of investments. Innovative projects become a source of added value for investors if the financial effects such as changes in the residual cash flow and higher growth rate outweigh the combined impact on the risk generated by two factors: increase of systematic risk and emerging specific risks.
Authors and Affiliations
Michał Bacior
Keywords
Related Articles
- EP ID EP448342
- DOI 10.24425/finanse.2018.125395
- Views 46
- Downloads 0
Koszty windykacji polubownej w świetle badań empirycznych
The asymmetry of information between the creditor and the debtor is a source of risk that accompanies the existence of receivables. Transaction costs related to receivables are rising, if debtors are not paying on time....
Akceleratory przedsiębiorczości tworzone przez banki jako instytucjonalna forma wsparcia sektora FinTech
Business accelerators created by banks are increasingly an alternative to traditional forms of support for newly created business entities. These organisations are crucial for the process of providing assistance to FinTe...
Rehabilitation in the Polish health system and its financing methods
The aim of this paper is to analyse whether the medical rehabilitation segment is an important part of the entire Polish healthcare system, and if the medical rehabilitation services are provided with adequate levels of...
Ordofinanse. W poszukiwaniu nowego ładu w nauce i praktyce finansów
The main goal of the study, taking into account it’s limited framework, is an attempt to present the possibilities of adapting synthetic assumptions and conceptual instruments of German ordoliberalism to contemporary fin...
Postulat niedyskryminowania oszczędności w podatku dochodowym a lokowanie środków na IKE i IKZE
A typical feature of the Polish personal income tax is a cumulative growth of the tax burden on savings over time. Investing in individual pension accounts ‘IKE’ and ‘IKZE’ allows to restrict this unfavourable phenomenon...