IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v15y2022i5p1669-d756889.html
   My bibliography  Save this article

Multi-Energy Concern as an Example of the Implementation of Agenda 2030: Poland as a Case Study

Author

Listed:
  • Joanna Toborek-Mazur

    (Department of Accounting, Institute of Management, College of Management Sciences and Quality, Cracow University of Economics, 31-510 Kraków, Poland)

  • Magdalena Wójcik-Jurkiewicz

    (Department of Accounting, Institute of Management, College of Management Sciences and Quality, Cracow University of Economics, 31-510 Kraków, Poland)

Abstract

The motive for the functioning of enterprises in the market economy is the maximization of benefits by achieving positive financial results with the minimum possible involvement of capital. The positive results achieved are perceived very positively by the stakeholders. To achieve this, it is necessary to carry out reorganization processes (mergers and acquisitions) within capital groups, which are perceived as necessary (positive) measures. These phenomena have been observed in the energy sector for many years, and the years 2010–2021 were adopted as the research period. The aim of this article is to attempt to answer the question of whether the multi-energy concern is the result of activities carried out in light of the 2030 Agenda. The effect of merging the entities is capital concentration. This fact has been verified by reviewing changes in the structures of capital groups in the energy sector against the background of the largest mergers and acquisitions in Poland in terms of value. The theoretical part presents the differences in the terminology of mergers and acquisitions and the motives for their creation and operation, with an emphasis on energy groups. Therefore, the authors undertook research aimed at identifying and assessing the main premises and effects of capital concentration through mergers and acquisitions in the energy sector in Poland.

Suggested Citation

  • Joanna Toborek-Mazur & Magdalena Wójcik-Jurkiewicz, 2022. "Multi-Energy Concern as an Example of the Implementation of Agenda 2030: Poland as a Case Study," Energies, MDPI, vol. 15(5), pages 1-22, February.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:5:p:1669-:d:756889
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/15/5/1669/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/15/5/1669/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Anna Pietruszka-Ortyl & Małgorzata Ćwiek & Bernard Ziębicki & Anna Wójcik-Karpacz, 2021. "Organizational Culture as a Prerequisite for Knowledge Transfer among IT Professionals: The Case of Energy Companies," Energies, MDPI, vol. 14(23), pages 1-32, December.
    2. Gordon M. Phillips & Alexei Zhdanov, 2013. "R&D and the Incentives from Merger and Acquisition Activity," The Review of Financial Studies, Society for Financial Studies, vol. 26(1), pages 34-78.
    3. Bogdan Włodarczyk & Daniela Firoiu & George H. Ionescu & Florin Ghiocel & Marek Szturo & Lesław Markowski, 2021. "Assessing the Sustainable Development and Renewable Energy Sources Relationship in EU Countries," Energies, MDPI, vol. 14(8), pages 1-16, April.
    4. Jan Bouwens & Ties de Kok & Arnt Verriest, 2019. "The Prevalence and Validity of EBITDA as a Performance Measure," Comptabilité - Contrôle - Audit, Association francophone de comptabilité, vol. 25(1), pages 55-105.
    5. Renato Camodeca & Alex Almici, 2021. "Digital Transformation and Convergence toward the 2030 Agenda’s Sustainability Development Goals: Evidence from Italian Listed Firms," Sustainability, MDPI, vol. 13(21), pages 1-18, October.
    6. Grzegorz Lew & Beata Sadowska & Katarzyna Chudy-Laskowska & Grzegorz Zimon & Magdalena Wójcik-Jurkiewicz, 2021. "Influence of Photovoltaic Development on Decarbonization of Power Generation—Example of Poland," Energies, MDPI, vol. 14(22), pages 1-20, November.
    7. United Nations UN, 2015. "Transforming our World: the 2030 Agenda for Sustainable Development," Working Papers id:7559, eSocialSciences.
    8. Jan Bouwens & Ties de Kok & Arnt Verriest, 2019. "The Prevalence and Validity of EBITDA as a Performance Measure," ACCRA, Association francophone de comptabilité, vol. 25(1), pages 55-105.
    9. Magdalena Wojcik-Jurkiewicz & Marek Masztalerz & Grzegorz Lew & Adam Lulek & Beata Sadowska, 2021. "The Impact of Chemical Companies on the Environment and Local Communities in the Aspect of Business Model," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 548-563.
    10. Grzegorz Zimon, 2019. "An Assessment of the Strategy of Working Capital Management in Polish Energy Companies," International Journal of Energy Economics and Policy, Econjournals, vol. 9(6), pages 552-556.
    11. Magdalena Wójcik-Jurkiewicz & Marzena Czarnecka & Grzegorz Kinelski & Beata Sadowska & Katarzyna Bilińska-Reformat, 2021. "Determinants of Decarbonisation in the Transformation of the Energy Sector: The Case of Poland," Energies, MDPI, vol. 14(5), pages 1-22, February.
    12. Marcin Malec & Grzegorz Kinelski & Marzena Czarnecka, 2021. "The Impact of COVID-19 on Electricity Demand Profiles: A Case Study of Selected Business Clients in Poland," Energies, MDPI, vol. 14(17), pages 1-17, August.
    13. Wojciech Drożdż & Grzegorz Kinelski & Marzena Czarnecka & Magdalena Wójcik-Jurkiewicz & Anna Maroušková & Grzegorz Zych, 2021. "Determinants of Decarbonization—How to Realize Sustainable and Low Carbon Cities?," Energies, MDPI, vol. 14(9), pages 1-19, May.
    14. Ireneusz Górowski & Bartosz Kurek & Marek Szarucki, 2022. "The Impact of a New Accounting Standard on Assets, Liabilities and Leverage of Companies: Evidence from Energy Industry," Energies, MDPI, vol. 15(4), pages 1-15, February.
    15. Wojciech Czakon & Karolina Mucha-Kuś & Maciej Sołtysik, 2021. "Coopetitive Platform: Common Benefits in Electricity and Gas Distribution," Energies, MDPI, vol. 14(21), pages 1-18, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Joanna Toborek-Mazur & Karol Partacz & Marcin Surówka, 2022. "Energy Security as a Premise for Mergers and Acquisitions on the Example of the Multi-Energy Concern PKN Orlen in the Face of the Challenges of the 2020s," Energies, MDPI, vol. 15(14), pages 1-28, July.
    2. Maciej Ciołek & Izabela Emerling & Katarzyna Olejko & Beata Sadowska & Magdalena Wójcik-Jurkiewicz, 2022. "Assumptions of the Energy Policy of the Country versus Investment Outlays Related to the Purchase of Alternative Fuels: Poland as a Case Study," Energies, MDPI, vol. 15(5), pages 1-18, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Maciej Ciołek & Izabela Emerling & Katarzyna Olejko & Beata Sadowska & Magdalena Wójcik-Jurkiewicz, 2022. "Assumptions of the Energy Policy of the Country versus Investment Outlays Related to the Purchase of Alternative Fuels: Poland as a Case Study," Energies, MDPI, vol. 15(5), pages 1-18, March.
    2. Beata Sadowska & Magdalena Wójcik-Jurkiewicz & Grzegorz Zimon & Adam Lulek & Nina Stępnicka & Robert Walasek, 2023. "The Business Model in Energy Sector Reporting—A Case Study from Poland: A Pilot Study," Energies, MDPI, vol. 16(4), pages 1-18, February.
    3. Marzena Czarnecka & Grzegorz Kinelski & Magdalena Stefańska & Mateusz Grzesiak & Borys Budka, 2022. "Social Media Engagement in Shaping Green Energy Business Models," Energies, MDPI, vol. 15(5), pages 1-19, February.
    4. Maciej Sołtysik & Mariusz Kozakiewicz & Jakub Jasiński, 2022. "Improvement of Operating Efficiency of Energy Cooperatives with the Use of “Crypto-Coin Mining”," Energies, MDPI, vol. 15(21), pages 1-25, October.
    5. Marzena Czarnecka & Katarzyna Chudy–Laskowska & Grzegorz Kinelski & Grzegorz Lew & Beata Sadowska & Magdalena Wójcik-Jurkiewicz & Borys Budka, 2022. "Grants and Funding for the Processes of Decarbonization in the Scope of Sustainability Development—The Case from Poland," Energies, MDPI, vol. 15(20), pages 1-20, October.
    6. Grzegorz Kinelski & Jakub Stęchły & Piotr Bartkowiak, 2022. "Various Facets of Sustainable Smart City Management: Selected Examples from Polish Metropolitan Areas," Energies, MDPI, vol. 15(9), pages 1-23, April.
    7. Joanna Toborek-Mazur & Karol Partacz & Marcin Surówka, 2022. "Energy Security as a Premise for Mergers and Acquisitions on the Example of the Multi-Energy Concern PKN Orlen in the Face of the Challenges of the 2020s," Energies, MDPI, vol. 15(14), pages 1-28, July.
    8. Grzegorz Lew & Beata Sadowska & Katarzyna Chudy-Laskowska & Grzegorz Zimon & Magdalena Wójcik-Jurkiewicz, 2021. "Influence of Photovoltaic Development on Decarbonization of Power Generation—Example of Poland," Energies, MDPI, vol. 14(22), pages 1-20, November.
    9. Zbigniew J. Makieła & Grzegorz Kinelski & Jakub Stęchły & Mariusz Raczek & Krzysztof Wrana & Janusz Michałek, 2022. "Tools for Network Smart City Management—The Case Study of Potential Possibility of Managing Energy and Associated Emissions in Metropolitan Areas," Energies, MDPI, vol. 15(7), pages 1-21, March.
    10. Grzegorz Kinelski & Jakub Stęchły & Adrian Sienicki & Kai Czornik & Piotr Borkowski, 2021. "Application of Smart Technologies in Metropolis GZM to Reduce Harmful Emissions in District Heating Systems," Energies, MDPI, vol. 14(22), pages 1-11, November.
    11. Radoslaw Miskiewicz, 2022. "Clean and Affordable Energy within Sustainable Development Goals: The Role of Governance Digitalization," Energies, MDPI, vol. 15(24), pages 1-17, December.
    12. Katarzyna Chudy-Laskowska & Tomasz Pisula, 2022. "An Analysis of the Use of Energy from Conventional Fossil Fuels and Green Renewable Energy in the Context of the European Union’s Planned Energy Transformation," Energies, MDPI, vol. 15(19), pages 1-23, October.
    13. Claudia Arena & Simona Catuogno & Nicola Moscariello, 2021. "The unusual debate on non-GAAP reporting in the current standard practice. The lens of corporate governance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 25(3), pages 655-684, September.
    14. Maliyamu Abudureheman & Qingzhe Jiang & Xiucheng Dong & Cong Dong, 2022. "CO 2 Emissions in China: Does the Energy Rebound Matter?," Energies, MDPI, vol. 15(12), pages 1-25, June.
    15. Piotr W. Saługa & Krzysztof Zamasz & Zdzisława Dacko-Pikiewicz & Katarzyna Szczepańska-Woszczyna & Marcin Malec, 2021. "Risk-Adjusted Discount Rate and Its Components for Onshore Wind Farms at the Feasibility Stage," Energies, MDPI, vol. 14(20), pages 1-12, October.
    16. Mattia Iotti & Elisa Manghi & Giuseppe Bonazzi, 2024. "Debt Sustainability Assessment in the Biogas Sector: Application of Interest Coverage Ratios in a Sample of Agricultural Firms in Italy," Energies, MDPI, vol. 17(6), pages 1-34, March.
    17. Karolis Andriuškevičius & Dalia Štreimikienė, 2022. "Energy M&A Market in the Baltic States Analyzed through the Lens of Sustainable Development," Energies, MDPI, vol. 15(21), pages 1-21, October.
    18. Elżbieta Jadwiga Szymańska & Maria Kubacka & Joanna Woźniak & Jan Polaszczyk, 2022. "Analysis of Residential Buildings in Poland for Potential Energy Renovation toward Zero-Emission Construction," Energies, MDPI, vol. 15(24), pages 1-24, December.
    19. Lihki Rubio & Alejandro J. Gutiérrez-Rodríguez & Manuel G. Forero, 2021. "EBITDA Index Prediction Using Exponential Smoothing and ARIMA Model," Mathematics, MDPI, vol. 9(20), pages 1-14, October.
    20. Corinne Bessieux-Ollier & Grégoire Davrinche & Guillaume Dumas, 2022. "L'adaptation de la communication financière face à la crise COVID : le cas des résultats non-GAAP," Post-Print hal-03948560, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:15:y:2022:i:5:p:1669-:d:756889. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.