Risk Factors in Investment Projects Executed in Corporate and Project Finance
Keywords:
risk, risk factors,, investment project, project finance, corporate financeAbstract
The article is aimed at the presentation of results of analysis of risk factors connected with two principal approaches applied within financing and implementing investment projects, i.e. corporate finance and project finance. The authors of the study posed a following thesis: project implementation formula: corporate finance and project finance determine investment risk factors.The article discusses both formulas focusing on their disadvantages and advantages. It also describes risk factors to be faced by a company undertaking to implement investment and analyses them depending on the method of financing and project implementation applied. The deliberations confirmed the thesis posed at the beginning that the method of implementation and financing of an investment project adopted in a concrete case has a considerable impact on increasing or mitigating diverse risk factors.
Downloads
References
2. Finnerty J.D., Project Financing: Asset-based Financial Engineering, John Wiley &Sons, New York 1996.
3. Kowalczyk M., Zarządzanie ryzykiem w Project finance, Narodowy Bank Polski, Warszawa 2001.
4. Listkiewicz J., Listkiewicz S., Niedziółka P., Szymczak P., Metody realizacji projektów inwestycyjnych. Planowanie. Finansowanie. Ocena, ODDK, Gdańsk 2004.
5. Nevit P.K., Fabozzi F.J., Project Financing, Euromoney Books, London 2000.
6. Projekty inwestycyjne, finansowanie, budżetowanie, ocena efektywności, red. M. Postuła,
R. Cieślik, Difin, Warszawa 2016.
7. Rogowski W., Rachunek efektywności inwestycji, Oficyna Wolters Kluwer, Warszawa 2013.
8. Wojewnik-Filipkowska A., Project Finance w inwestycjach infrastrukturalnych, CeDeWu Wydawnictwa Fachowe, Warszawa 2008.
9. Yescombe E.R., Project finance, wybrane elementy finansowania strukturalnego, Oficyna Wolters Kluwer, Warszawa 2008.