Contemporary Trends and Challenges in Finance

This volume features a selection of contributions presented at the 2018 Wroclaw Conference in Finance, which cover a wide range of topics in finance and financial economics, e.g. financial markets; monetary policy; corporate, personal and public finance; and risk management and insurance. Reflecting the diversity and richness of research areas in the field, the papers discuss both fundamental and applied finance, and offer a detailed analysis of current financial-market problems, including specifics of the Polish and Central European markets. They also examine the results of advanced financial modeling. Accordingly, the proceedings offer a valuable resource for researchers at universities and policy institutions, as well as graduate students and practitioners in economics and finance at both private and government organizations.

PART I: Banking.- The Role of a Reference Yield Fitting Technique in the Fund Transfer Pricing Mechanism.- Towards a Generalized Measure of Systemic Risk: Systemic Turbulence Measure.- Determinants of Loans Growth in Cooperative Banks in Poland: Does Capital Ratio Matter?.- Analysis of Determinants of Liquidity Risk in Polish Banking Sector.- PART II: Commodity Market.- The Post-Crisis Insight into Nickel Pricing on the London Metal Exchange.- Impact of Macroeconomic and Financial Factors on the Commodity Price Indexes in the Context of Financialization.- PART III: Corporate Finance.- Conceptual framework for lending money outside business groups. Evidence from Poland.- The Lohmann-Ruchti Effect in the Development of Corporate Capital.- Reconsidering the Profitability-Capital Structure Relation: Findings from Poland.- Presaging a Déjà Vu... The Impact of Leverage and Investment on Operating Performance Under Negative Demand-Driven Shocks.- PART IV: Financial Market.- The Application of Two-Stage Diversification to Portfolios From the WSE.- Verification of the Conditional CAPM: the Example of the Polish Capital Market.- Market-Wide Commonality in Liquidity on the CEE-3 Emerging Stock Markets.- Accounting Beta in the Extended Version of CAPM.- The Impact of Fundamental Investment Fund Features on the Level of Risk.- PART V: Other areas of Finance.- Understanding the Overfunding in Crowdfinancing - the Elements of Attractiveness.- Valuation of Household Losses in Child's Death Cases for Insurance Purposes.- Public or Private? Which Source of Financing Helps to Achieve Higher Health System Efficiency?.- Innovation System in a Global Context: A Panel Approach.