The paper examines the influence of the business cycle on working capital management strategies based on evidence from the Polish corporate sector. By exploring the interrelation between working capital investment and profitability ratios, we attempt to define the respective transmission...

Fair value concept is widely used in DCF (Discounted Cash Flow) business valuation. One of the main principle of fair value concept is full information symmetry between contracting parties. The assumption enforces specific way of FCF (Free Cash Flow) estimation: all areas of inefficiency of...

Purpose The literature on project finance appraisal contains several ambiguities mainly concerning the correct method of equity cash flow (ECF) determination. This vagueness can lead to serious misevaluation of these projects. The purpose of this paper is to present and justify a correct method...

The paper examines the influence of the business cycle on working capital management strategies based on evidence from the Polish corporate sector. By exploring the interrelation between working capital investment and profitability ratios, we attempt to define the respective transmission...

Aim/purpose - The paper has two objectives. The first is to examine the profitability of applying investment strategies based on "buy" and "sell" recommendations issued by stock market analysts. The second objective is to validate that analysts who issue a recommendation may not be impartial...