The risk of long-term debt service on the example of J.W. Construction Holding S.A.
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 3
Abstract
One of the important areas in process of strategic management is risk of service of long-term obligations. This article aims to examine whether the hypothesis: „variability factors affecting the execution of long-term financial liabilities is the cause of changes in risk of service with these obligations” is supported by the empirical example . In order to verify this hypothesis, the risk model was constructed. It consists of random vector with components identified as the control variables of the management process in the service of long-term financial obligations. There have been defined basic characteristics of the probability distribution of the random vector as the expected value and variance with their model levels . The calculation of these characteristics, the distance from the model levels allowed to define the levels of long-term debt service risk , and to analyse the variability of the risk. Presented example of J.W. Construction Holding SA confirms the hypothesis stacked in this article.
Authors and Affiliations
Tomasz Jastrzębski
Keywords
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