NAUKI
O FINANSACH
FINANCIAL SCIENCES
4 (29)•2016
SCIENTIFIC COUNCIL
Ewa Bogacka-Kisiel (Wrocław University of Economics, Poland) Manuela Gallo (University of Perugia, Italy)
Olga Hasprová (Technical University of Liberec, Czech Republic) Krzysztof Jajuga (Wrocław University of Economics, Poland)
Herman Locarek-Junge (Dresden University of Technology, Germany) Loris Nadotti (University of Perugia, Italy)
Stanisław Owsiak (Cracow University of Economics, Poland) Dragos Paun (Babes-Bolyai University, Romania)
Gerald Reiner (University of Neuchâtel, Switzerland) Jacek Uchman (Wrocław University of Economics, Poland)
Krystyna Znaniecka (University of Economics in Katowice, Poland)
EDITORIAL COMMITTEE
Jacek Uchman – Editor-in-Chief Jacek Karwowski
Zbigniew Luty Edward Nowak Teresa Orzeszko
Wanda Ronka-Chmielowiec Ilona Fałat-Kilijańska – Secretary
ifk@poczta.fm i.falat-kilijanska@ue.wroc.pl +48 71 36 80 640
SUBJECT EDITOR Krzysztof Jajuga
NAUKI
O FINANSACH
FINANCIAL SCIENCES
4 (29)•2016
Publishing House of Wrocław University of Economics
Wrocław 2016
Copy-editing: Elżbieta Macauley, Tim Macauley, Aleksandra Śliwka Layout: Barbara Łopusiewicz
Proof-reading: Barbara Łopusiewicz Typesetting: Małgorzata Myszkowska Cover design: Beata Dębska
Information on submitting and reviewing papers is available on the Publishing House’s website
http://finanse.ue.wroc.pl/ www.wydawnictwo.ue.wroc.pl
The publication is distributed under the Creative Commons Attribution 3.0 Poland Attribution-NonCommercial-NoDerivs (CC BY-NC-ND)
© Copyright by Wrocław University of Economics Wrocław 2016
ISSN 2080-5993 e-ISSN 2449-9811
The original version: printed
Publication may be ordered in Publishing House
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu ul. Komandorska 118/120, 53-345 Wrocław
tel./fax 71 36-80-602; e-mail: econbook@ue.wroc.pl www.ksiegarnia.ue.wroc.pl; ksiegarnienaukowe.pl Printing: TOTEM
Contents
Preface ... 7 Agnieszka Bem, Paulina Ucieklak-Jeż: Spatial distribution of non-financial
health protection resources versus the state of health of the population in Poland / Przestrzenne zróżnicowanie zasobów ochrony zdrowia a stan zdrowia ludności w Polsce ... 9
Magdalena Homa, Monika Mościbrodzka: Application of diagram
meth-ods and hierarchical agglomerative procedures to assess the risk of in-vestment funds on The Warsaw Stock Exchange / Zastosowanie metod diagramowych i hierarchicznych procedur aglomeracyjnych w analizie ryzyka funduszy inwestycyjnych na GPW w Warszawie ... 21
Bartłomiej Jabłoński, Jacek Kuczowic: Dividend policy of companies
li-sted on European and American capital markets – comparative analysis / Polityka dywidend spółek na europejskich i amerykańskich rynkach kapi-tałowych – analiza porównawcza ... 35
Paweł Mielcarz, Dmytro Osiichuk: Determinants of the liability maturity of
Polish companies / Determinanty terminu zapadalności zobowiązań pol-skich przedsiębiorstw ... 49
Piotr Zasępa: Level of the first day underpricing of venture capital backed
IPO for the CEE Region in 2000-2012 / Analiza niedoszacowania trans-akcji IPO spółek zasilanych funduszami venture capital w Europie Środ-kowej i Wschodniej w latach 2000-2012 ... 64
Preface
The collection of essays we include in this issue of Financial Science magazine shows the constant interest of authors in the current problems of the capital market and investment. The reader can also find here research works covering the area of managing healthcare and corporate finance. The initial field of research is well represented by authors such as Magdalena Homa, Monika Mościbrodzka and Piotr Zasępa. It also contains the paper by Bartłomiej Jabłoński and Jacek Kuczowic. The problem of a broadly defined financing and managing healthcare is presented in the paper by Agnieszka Bem and Paulina Ucieklak-Jeż. As far as the notion of corporate finance is concerned, we include the articles by Paweł Mielcarz and Dmytro Osiichuk. The thematic range of scientific research materials is so diverse that we can expect the present issue to become a point of interest on the reading list, also owing to its variety.
