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Maciej Pietrzykowski

Abstract

The aim of this paper is to offer an empirical insight into the spatial effects of growth of regional income and disparities across EU regions (NUTS 2). Since regions are spatial units and there are interrelated standard linear regression is not sufficient to evidence the convergence process. Two models (Spatial Lag Model – SLM and Spatial Error model – SEM), derived from spatial econometrics, have been used to identify and explain spatial effects in convergence clubs—all EU countries (EU-28), countries that entered the EU in 2004 (EU-13) and countries that were in EU prior to 2004 (EU-15). Unconditional and conditional β-convergence has been examined in the period 2000-2015 thus covering two financial perspectives (including n + 2 rule3). Dummy variables have been also applied to catch the country-specific effects, such as national policies, legislation, technology progress, etc.

Open access

Eleni Filippidou, Maria Koutsouba, Vassiliki Lalioti and Vassilis Lantzos

Abstract

The research field of this paper is the area of Thrace, a large geopolitical-cultural unit that was divided – due to political reasons – in three subareas distributed among three different countries: Bulgaria, Turkey and Greece. A dance event that used to take place before the border demarcation but is still performed in the Greek and Turkish Thrace is that of “K’na”, a wedding dance event danced by the people of both border areas, despite of the changes in their magical-religious beliefs and the changes brought by socio-economic and cultural development. In particular, the aim of this paper is the study of the “construction” of the national identity of inhabitants both of Greek and Turkish Thrace, as this is manifested through the dance practice within the wedding event of “K’na”, through the lens of sociocybernetics. Data was gathered through ethnographic method as this is applied to the study of dance, while its interpretation was based on sociocybernetics according to Burke’s identity control theory. From the data analysis, it is showed that the “K’na” dance in Greek and Turkish Thrace constructs and reconstructs the national identity of the people who use them as a response to the messages they receive via the communication with “the national others”. In conclusion, the “construction” of the identity results from a continuous procedure of self-regulation and self-control through a cybernetic sequence of steps.

Open access

Tatiana Hlušková

Abstract

The aim of the paper is to analyze the possibilities of the automotive industry development in the V4 countries in the near future. Automotive is one of the most important industries in the Czech Republic, Hungary, Poland and Slovakia. However, it faces significant challenges on both the demand and supply side. The shortage of qualified and relatively cheap labour force, once the important comparative advantage of these countries is becoming a major problem in sustaining the competitiveness. Meanwhile the rise of protectionist policies and trade tensions also pose a significant threat to the exportoriented industry. The third important source of change is the technological advancement. Industry 4.0, electromobility and self-driving cars are reshaping the whole business model. In order to stay competitive, the V4 countries have to take all these factors in account and try to adjust their policies to these changes in environment.

Open access

Ewa Wycinka

Abstract

One of the central tasks of credit institutions is credit risk assessment, in which the estimation of the probability of default is an important element. The size of an institution’s credit portfolio can decrease as a result of early repayments, which changes the probability of default over time. Prognosis of the probability of default should therefore also take into consideration the prognosis of early repayments. In this paper, methods of evaluating the probability of default over time, using competing risks regression models, are considered. Methods of evaluation for models of default over time are proposed. A sample of retail credits, provided by a Polish financial institution, was empirically examined.

Open access

Lenka Lausová, Ivan Kološ and Vladimíra Michalcová

Abstract

The paper focuses on the verification of the suitability of the SST k - ω model on the flow past a circular cylinder in 2D for a high Reynolds number. The study compares the results of drag and lifts coefficients with respect to different types of meshes and time steps. The mean velocity field in the wake region behind the cylinder is evaluated and compared to experimental data available from literature. The numerical simulations are solved using CFD codes in the ANSYS Fluent software and use the finite volume method.

Open access

Piotr Szczepocki

Abstract

The beta parameter is a popular tool for the evaluation of portfolio performance. The Sharpe single-index model is a simple regression model in which the stock’s returns are regressed against the returns of a broader index. The beta parameter is a measure of the strength of this relation. Extensive recent research has proved that the beta is not constant in time and should be modelled as a time-variant coefficient. One of the most popular methods of the estimation of a time-varying beta is the Kalman filter. As the output of the Kalman filter, one obtains a sequence of the estimates of a time-varying beta. This sequence shows the historical dynamics of sensitivity of a company’s returns to the variations of market returns. The article proposes a method of clustering companies listed on the Warsaw Stock Exchange according to time-varying betas.

Open access

Dominika Choroś-Mrozowska

Abstract

China announced its initiative of the so-called New Silk Road project for the first time in 2013. Although its extent, concept or even its current name (The Belt and Road Initiative, BRI) have changed on a number of occasions since then, it cannot be denied that this is one of the most important challenges currently being undertaken in the world.

The countries of Central and Eastern Europe, of which Poland is a part, may have a significant meaning in this concept due to their strategic location. The countries of this region began their co-operation with China under the so-called “16 + 1” format, and this took place prior to the announcement of the BRI. This opens up new perspectives for Polish-Chinese trade relations in respect of the BRI initiative and the “16 + 1” platform.

The aim of this study is therefore to present the most important effects of the conducted research, the assumption of which was the comprehensive identification of the Chinese BRI initiative and the consequences of its implementation for Polish-Chinese trade relations. The presented analysis assumes that BRI will have a significant impact on Polish-Chinese trade patterns. This is particularly important in the context of the huge trade deficit that Poland has been recording for years in its trade with China as well as the deepening asymmetry, which has been characteristic of the exchange.

Open access

Alexander Tesár

Abstract

On 1st February 2019 is celebrated the birthday centenary of great Slovak scientist and engineer - professor Arpád Tesár (1919 - 1989). His name is connected with many bridges, engineering structures and scientific works being appreciated by the technical community worldwide.

Open access

Juraj Pekár, Ivan Brezina and Zuzana Čičková

Abstract

The paper is focused on specific location-allocation problem aimed to determine a set of scrap yards for vehicle decommissioning in Slovakia. The goal is to determine scrap yards network so that it is not prohibitive to pass old car for dismantling and further processing wherever former owner lives. Two approaches are considered. Once we consider the case when it is necessary to construct a completely new network of scrap yards, which results to setting of their minimum numbers and also their location. In the latter case, the already existing network of scrap yards is considered, while the model provides its extension, in order to achieve the desired values of accessibility for all residents. The results were applied to an existing network of scrap yards identifying locations to build new scrap yards. Areas where whole new network of scrap yards must be built were also identified.