Effective Investments on Capital Markets

This proceedings volume presents current research and innovative solutions into capital markets, particularly in Poland. Featuring contributions presented at the 10th Capital Market Effective Investments (CMEI 2018) conference held in Midzyzdroje, Poland, this book explores the future of capital markets in Poland as well as comparing it with the capital markets of other developed regions around the world.

Divided into four parts, the enclosed papers provide a background into the theoretical foundations of capital market investments, explores different approachesboth classical and contemporaryto investment decision making, analyzes the behaviors of investors using experimental economics and behavioral finance, and explores practical issues related to financial market investments, including real case studies. In addition, each part of the book begins with an introductory chapter written by thematic editors that provides an outline of the subject area and a summary of the papers presented.

Explore the past, present and future of capital markets in Poland Compares the Polish capital market to those in developed countries Explores different approaches (both classical and contemporary) to investment decision making Analyzes the behaviors of investors using experimental economics and behavioral finance Features case studies from practitioners Features contributions presented at the 10th Capital Market Effective Investments (CMEI 2018) conference

Autorentext

Waldemar Tarczy ski is Professor of Economic Sciences and Dean of the Faculty of Economics and Management at the University of Szczecin in Poland. He is also Head of the Institute of Finance, Head of the Department of Insurance and Capital Markets, Member of the Committee on Finance Sciences of the Polish Academy of Sciences, Member of the Council of the Section for Classification and Data Analysis at Polish Statistical Association and Member of the Committee of Statistics and Econometrics of the Polish Academy of Sciences. He was also Rector of the University of Szczecin in 2005-2008 and 2008-2012. Prof. Tarczy ski has authored and co-authored approximately 190 publications mainly in the area of applications the quantitative methods in analysis of economic phenomena, particularly capital markets.

Kesra Nermend is Professor at the University of Szczecin, President of Center of Knowledge and Technology Transfer at University of Szczecin, and Head of the Department of Computational Methods in Experimental Economics in Institute of IT in Management in The Faculty of Economics and Management of the University of Szczecin (Poland). He has authored and co-authored about 100 publications mainly in the area of using quantitative methods and tools for the analysis of economic phenomena. Prof. Nermend is also Chair of Organization Committees and member of Programme Committees of scientific conferences; member of Polish Information Processing Society, West-Pomeranian branch; member of Scientific Society of Organization and Management, West-Pomeranian branch; member of Polish Association for Knowledge Management; member of Section of Classification and Data Analysis at Polish Statistical Association and West Pomeranian Information Society Council.

Inhalt
Chapter 1. Analysis of Performance of the Warsaw Stock Exchange Companies from Finance Macrosector in Periods of Crisis.- Chapter 2. Integration Level and the Hierarchical Structure of European Stock Markets in the Years 2004 - 2017.- Chapter 3. In Search of the Best Proxy for Liquidity on the Warsaw Stock Exchange.- Chapter 4. International Financial Markets and the Global Real Economy.- Chapter 5. Tax Planning in Bank Tax Analysis of the Use of Treasury Bonds.- Chapter 6. The Role of a Court Expert in Determining the Sale Price of an Enterprise or Individual Assets in the Polish Bankruptcy Law - Selected Legal Aspects.- Chapter 7. Inclusion of ESG Factors in Investments and Value Addition: A Meta-Analysis of the Relationship.- Chapter 8. Financial Services Market in an Ageing Society. Challenges for the Development of Silver Economy.- Chapter 9. Towards measurement framework of digital skills in finance.- Chapter 10. The Motives ofName Changes and Share Quotations on the Warsaw Stock Exchange.- Chapter 11. The Investor's Preferences in the Portfolio Selection Problem Based on the Goal Programming Approach.- Chapter 12. Early Warning Against Insolvency of Enterprises Based on a Self-Learning Artificial Neural Network of the SOM Type.- Chapter 13. Alternative Estimators for the Effective Spread Derived from High-Frequency Data.- Chapter 14. Investment Strategies Determined by Present Value Given as Trapezoidal Fuzzy Numbers.- Chapter 15. Application Quantile-based Risk Measures in Sector Portfolio Analysis - Warsaw Stock Exchange Approach.- Chapter 16. Is the Three-Factor better than Single-Factor Capital Asset Pricing Model? Case of Polish Capital Market.- Chapter 17. Beta Coefficient and Fundamental Strength in Companies Listed on the Warsaw Stock Exchange.- Chapter 18. Comparison of the Results of Modelling Rates of Return Depending on the Financial Situation of Companieswith the Use of Real and Transformed Values of Variables.- Chapter 19. Diversification of the Equity Portfolio Using Precious Metals in Poland.- Chapter 20. The Co-movement of the Czech Republic, Hungary and Poland Sovereign Credit Default Swaps Spreads.- Chapter 21. Characteristics of Dichotomous Variable Estimators.- Chapter 22. Dynamics of the Financial Markets and the Wealth Concentration.- Chapter 23. Examining Engagement and Emotions in Financial Simulation Games.- Chapter 24. Methods of Examining the Neuronal Bases of Financial Decisions.- Chapter 25. Behavioural Finance Then and Now.- Chapter 26. Liquidity on the Capital Market with Asymmetric Information.- Chapter 27. Stock Market Reactions to Dividend Announcements: Evidence from Poland.- Chapter 28. Gold Market and Selected Stock Markets Granger's Causality Analysis.- Chapter 29. Investment Decision Support on Precious Metal Market with Use of Binary Representation.-Chapter 30. Underdevelopment of The Financial Market in China as a Barrier to the Internationalization of the Renminbi.- Chapter 31. The Mechanisms of Changes in the Infrastructure of the Payment Card Market. A Comparative Analysis of Poland and China.- Chapter 32. The Econometric Analysis of the Food Sector Performance on the Background of the Main Market at Warsaw Stock Exchange.- Chapter 33. Fuzzy AHP and VIKOR to Select Best Location for Bank Investment: Case Study in Kurdistan Region of Iraq.