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...

The paper presents an empirical verification of the main assumptions underlying the calculation of terminal value in DCF valuation models. The test results suggest that the volatility of free cash flows and the dynamism of the operating environment do not allow us to make a reliable long-term...

Purpose: Relying on a unique proprietary Polish office market space database, the paper attempts to quantify the impact of buildings' age on the financial performance of real estate assets. Design/methodology/approach: Panel econometric modeling was utilized to disentangle the impact of...

Purpose: This study aims to elucidate the role of social ties in facilitating the career progress of senior officers within public companies in an emerging market. Design/methodology/approach: The authors followed the career track of 2,151 senior officers serving on management and supervisory...

Purpose: This paper aims to present an iterative algorithm that yields the amount of debt contracting/repayment or equity investment necessary to achieve the target capital structure. The model also helps to estimate the gains in shareholder value that result from financial restructuring...

Purpose: Relying on an international panel data set, the purpose of this paper is to quantify the economic impact of labor unionization on corporate financial performance. Design/methodology/approach: Static panel regression analysis is performed for a firm-level multinational data set to...

Purpose: The authors document a persistent negative link between contemporaneous trade credit provision and subsequent firm-level operating performance. Design/methodology/approach: Textual analysis of firms' profile descriptions is used to study the role of market segmentation and product...