Enterprise Investment Activity during the COVID-19 Pandemic
Fragment książki (Rozdział w monografii)
MNiSW
5
spoza wykazu
| Status: | |
| Autorzy: | Ociesa Kinga |
| Dyscypliny: | |
| Aby zobaczyć szczegóły należy się zalogować. | |
| Wersja dokumentu: | Drukowana | Elektroniczna |
| Język: | angielski |
| Strony: | 245 - 256 |
| Scopus® Cytowania: | 0 |
| Bazy: | Scopus |
| Efekt badań statutowych | NIE |
| Materiał konferencyjny: | NIE |
| Publikacja OA: | NIE |
| Abstrakty: | angielski |
| Investments are an important source of development for enterprises and the economy. The dynamics of investment outlays depend on the investment needs of enterprises, which are conditioned, inter alia, by company size, industry specificity, liquidity, and profitability. In the face of the COVID-19 pandemic, one of the key aspects influencing the investment decisions of companies was the uncertainty of the macroeconomic environment. The crisis caused by the virus has had a negative impact on the functioning of many areas of the economy, posing numerous challenges to enterprises. In order to mitigate the effects of the pandemic, remedial measures were implemented within the monetary policy, including lower interest rates, which translated into a decrease in the average interest rate on loans. In connection with the above, the following research question was posed: Does the reduction of investment financing costs translate into an increase in investment intensity in an unstable environment? The main purpose of this study was to analyze the investment activity of companies listed in the WIG-CHEMIA and WIG.GAMES5 indexes on the Warsaw Stock Exchange from 2019 to 2021. The selection of the research sample resulted from the different sensitivities of the indicated industries to fluctuations in the economic situation and reduced activity due to pandemic constraints. This chapter presents the determinants of investments in the theoretical aspect based on a literature review of the subject and in the empirical aspect based on the analysis of financial statements of selected enterprises, as well as on the basis of macroeconomic data. The analysis made it possible to draw conclusions about the field of investment activities, on the basis of which practical recommendations addressed to enterprises were developed. |
