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  • Author: Tomasz Adamowicz x
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Types of Risk in Banking Operations – Categorization and Definitions


Subject and purpose of work: The article deals with the issue of risk mainly in banking activity. Different definitions of risk were reviewed as tools for risk management in banks and for regulatory activities by institutions. Materials and methods: The research material was taken from the subject literature and official documents of financial market institutions - international organizations, as well as foreign and domestic financial institutions. They were mainly legal acts, standards and guidelines/recommendations. Particular attention was paid to documents published by banking supervision authorities. Results: As a result of the study, the multiplicity of concepts and approaches were found to define and identify banking risks as the categorizations presented by regulators seemed to be a standard to apply in risk management practices. Conclusions: Among the risk categorization used by banks, the leading ones have been presented by supervisory authorities. Defining the types of risk in operations should be the first stage of the internal risk management process which is necessary for banks’ survival. Ensuring high quality of the implementation of the first stage determines the efficiency and effectiveness of the entire process. The decisive requirements set by European and national regulators with regard to banks’ application of risk categorization as part of the risk management system contributed to mitigating the phenomena related to the global financial crisis among banks in Europe.

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Assessment applicability of selected models of multiple discriminant analyses to forecast financial situation of Polish wood sector enterprises


In the last three decades forecasting bankruptcy of enterprises has been an important and difficult problem, used as an impulse for many research projects (Ribeiro et al. 2012). At present many methods of bankruptcy prediction are available. In view of the specific character of economic activity in individual sectors, specialised methods adapted to a given branch of industry are being used increasingly often. For this reason an important scientific problem is related with the indication of an appropriate model or group of models to prepare forecasts for a given branch of industry. Thus research has been conducted to select an appropriate model of Multiple Discriminant Analysis (MDA), best adapted to forecasting changes in the wood industry. This study analyses 10 prediction models popular in Poland. Effectiveness of the model proposed by Jagiełło, developed for all industrial enterprises, may be labelled accidental. That model is not adapted to predict financial changes in wood sector companies in Poland.

The generally known Altman model showed the greatest effectiveness in the identification of enterprises at risk of bankruptcy. However, that model was burdened with one of the greatest errors in the classification of healthy enterprises as sick. The best effectiveness in the identification of enterprises not threatened with bankruptcy was found for forecasts prepared using the Prusak 2 model. However, forecasts based on those models were characterised by erroneous classification of sick companies as healthy. The model best fit to predict the financial situation of Polish wood sector companies was the Poznań model

Pz = 3.562 · X1 + 1.588 · X2 + 4.288 · X3 + 6.719 · X4 - 2.368


X1 - net income / total assets;

X2 - (current assets - stock) / current liabilities;

X3 - fixed capital / total assets

X4 - income from sales / sales revenue).

Open access
Identification of financial ratios applicable in the construction of a prediction model for bankruptcy of wood industry enterprises


At present, many early warning systems (EWS) are available. Most EWSs have been constructed based on data coming from various branches of economy. As a result, the effectiveness of these models in specific sectors of the national economy is frequently insufficient. There are no models dedicated to a specific branch, particularly the wood industry. Based on the Polish homogenous financial data supplied by the wood industry, it was decided to identify respective indexes, which may be used to construct a sector prediction model for bankruptcy in the wood industry. This study presents an analysis of indexes applied in 10 most popular EWSs used in Poland. In the course of the research process, a total of 5 financial ratios (FRs) were selected as best fitting to the investigated branch of economy. These included: profit from sales/balance sheet total, total income/mean annual total assets, operating costs/current liabilities, (operating profit – depreciation)/sales of products and equity capital/total debt.

Open access
Anaerobic Capacity of Sailors with Disabilities


Introduction. A review of Polish and international literature does not give a clear indication of the level of anaerobic capacity that sailors with disabilities demonstrate with regard to their functional capacities. This study sought to determine differences in functional capacity levels between sailors from three medical and functional groups. Material and methods. The research was carried out during a sports camp at the National Sailing Centre in Górki Zachodnie in 2014. Eighteen males with locomotor disabilities were included in the study. The athletes were members of the National Team of Sailors with Disabilities of the Polish Yachting Association. The sportsmen competed in the Skud 18 and 2.4mR Paralympic classes. A 30-second Wingate test for upper limbs was employed in the study. Results. Significant differences in mean power (MP) values were noted between the groups under investigation. The group of wheelchair sailors with improper core stability (A) and the group of wheelchair sailors with proper core stability (B) had significantly lower scores than the group of study participants who were able to move freely, that is to walk (C). Conclusions. The study revealed that a 30-second anaerobic capacity test performed on an arm ergometer differentiated disabled sailors from selected groups in terms of mean power. Research on anaerobic capacity may be used to verify the current classification in Paralympic sailing and will make it possible to differentiate present competition categories.

Open access