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Open access

Andrzej Czyżewski and Anna Matuszczak

Abstract

The aim of the article was to present changes which took place in the financing of the agricultural sector in Poland after 2015, i.e. from the moment when a new economic option started to emerge in the national economic policy. A transition from the pro-liberal to the pro-social option is noticeable, which is reflected in the restrictions on expenditures in the national agricultural budget. Similar trends can be observed in the expenditures from the European funds budget, which are also increasingly lower. Symptoms of the renationalisation of the agricultural budget can also be observed, consisting in an initial increase in national expenditures and a relative decrease in the expenditures from the European funds budget, but to a different extent in the years under study. The article analyses the level, then the share of expenditures on the agricultural sector in the budget altogether and in GDP, taking into consideration both the expenditures on the Agricultural Social Insurance Fund (ASIF) and funds from the EU budget. Next, it concentrates more closely on relations in the financing of domestic agriculture from national and EU funds, and finally, points to the social issues related to the agricultural sector through the prism of expenditures on ASIF.

Open access

Katarzyna Budny, Joanna Krasodomska and Katarzyna Świetla

Abstract

This study investigates the influence of M&A on the performance of banks operating in Poland. We use a sample of 14 transactions that occurred in the Polish banking sector from 2001 to 2015. Our data set includes pre and post-merger accounting information covering a period of two years before and after the merger. We follow Pilloff’s [1996] approach to determine the average performance changes measured with ROAA and ROAE. According to the research results, M&As transactions seem to affect profitability as both ROAA and ROAE means change. However, these changes do not follow the same trend. The correlations between the acquirer’s pre-merger weighted performance measured with ROAA and ROAE and merger-related changes in performance are significant and negative. The same situation is observed as regards the target pre-merger weighted performance measured with ROAE and merger-related changes in performance. The results also suggest that large acquirers are associated with less successful M&A.

Open access

Ionuț Mişa and Meral Kagitci

Abstract

The efficiency of the Romanian tax administration has as a main purpose the maximization of the public revenues in order to support the expenses necessary for the good functioning of the state and the achievement of the budgetary balance. Public finance policy is a priority component of the overall policy of a state, manifested in the field of distribution and encompassing all the effective methods and means of procurement and directing of financial resources and the instruments, institutions and regulations in the field in order to influence the economic processes and the existing social relations at a time in an economy.

Open access

Michał Chomicki

Summary

The aim of this paper is to indicate the relationship between the shape of organizational sensory systems of Polish companies and beneficialness of the shape of cooperative relations between these companies with particular kinds of cooperators. The theoretical part of this article was devoted to the identification of the role of cooperative relations in the contemporary economic environment and a brief description of the concept of organizational sensory system, including its influence on cooperation between companies. The survey used the respondents’ indications of frequency of monitoring of elements of organization and its environment and the indication of the beneficialness of the shape of cooperative relationships with suppliers, customers and co-opetitors (in the framework of coopetitive relations). The chi-squared independence tests were used to demonstrate dependencies. In conclusion, it turned out that there are only two statistically significant relations and both of them pertain to relationships with customers.

Open access

Hanna Doroshuk

Summary

The article is aimed at formation of the approaches and stages of organizational development for a large vertically integrated company, ensuring the country’s strategic security in the fi eld of energy. The methodological basis of this work is the theory of the company’s life cycle, and it is proposed to complement the mentioned theory with the theory of spiral dynamics, reflecting the evolution of the company’s values.

The approaches to organizational development are analysed and organizational development is defined. The possibility and necessity of management of organizational development are substantiated. As a result of the study, there were described the features of the organizational development of large energy company, and this is for the first time. The analysis of publications and world experience in the development of energy companies allowed proposing four basic stages of organizational development: team building and life cycle dynamics, value management and implementation tools.

There is offered the use of organizational development as an instrument of management, which enables to achieve not only company development goals, but also to manage its values, achieve maximum employee involvement in development, and to shift from the management of the company to team work. Further research in this area it is advisable to carry out in detail the stage of organizational development and description of each stage’s tools.

Open access

Maryla Bieniek-Majka, Andrzej Czyżewski and Anna Matuszczak

Abstract

The aim of the article is to discuss the role of national and EU budget resources supporting organisation in the fruit and vegetable market. By way of introduction, the level and dynamics of (national and EU) budget expenditures supporting the agricultural sector in general was presented. Next, expenditures on the support for the fruit and vegetable market were analysed in detail. The research period covered the years 2010-2019. The authors pointed to the progressive decrease in spending on the agricultural sector in Poland, both from national and EU funds. At the same time, the support provided to the title sector was relatively large, but rather short-term, which made the formation and consolidation of the desired structures within the framework of horizontal integration impossible.

Open access

Aleksandra Helena Pasieczna

Abstract

This paper reports our estimates of the Value at Risk using Monte Carlo simulations for which we developed a computer program. Our approach involves obtaining Monte Carlo parameters by fitting real historical data of different periods to probability distributions. We applied the algorithm to the WIG20 and mWIG40 stock indices, and performed simulations for the Value at Risk at 95% and 99% confidence intervals over six estimation periods ranging from 1 trading day to 250 trading days. This approach was evaluated using the percentage failures and the Kupiec Proportion of Failures test. Our results indicate that this method is highly influenced by the choice of past historical and estimation period lengths considered. Overall, we observed that the Monte Carlo computational scheme is a reliable method for quantifying VaR when parametrized well.

Open access

Bogdan Nogalski, Przemysław Niewiadomski and Agnieszka Szpitter

Summary

In the paper, an attempt was made to answer the following question: what is the maturity level of the Polish companies operating in the agricultural machinery sector within the area of the implementation of quality management principles, methods and tools? In reference to such an outlined purpose, as necessary activities, it was recommended: at the theoretical level – using the reconstruction and interpretation method of the subject literature – to nominate the questions giving opinions on the maturity level in the sphere of the effective implementation of quality management principles, methods and tools; at the design level – to compile a research tool in the form of an assessment sheet that constitutes a result of the literature exploration and discussion among deliberately chosen experts; and at the empirical level – questioning among manufacturers of parts, components and finished agricultural machinery.

Open access

Janina Jędrzejczak-Gas, Anetta Barska and Marianna Siničáková

Summary

E-commerce in Europe is becoming increasingly important in all market segments, and in most segments it already accounts for few or even several dozen percent of total trade. According to a report by E-commerce Europe, it has already left the US market behind in 2010. Year by year, the willingness to buy products, which until recently were not treated by many consumers as “online”, such as food products, is growing.

Considering the above, the aim of the article is to determine the level of development of e-commerce in the European Union (EU-28). In the research procedure the literature and EUROSTAT data were used. The following research methods were used for data analysis: literature analysis, the Hellwig’s method and the threshold grouping method. The analysis was carried out in two periods, i.e. in 2014 and 2018, which allowed assessing the direction of changes in the surveyed.

Open access

Adrian Tanţău and Ileana Gavrilescu

Abstract

The purchase of an electric vehicle has become a widely debated topic by the economic community in recent years. However, few personal automobile users, who purchased new cars, have chosen a fully electric vehicle. The novelty of this research came from the assumption that there is a lack of knowledge in this field and fuelled by contradicting information. Potential electric vehicle buyers have developed a real psychosis on the subject, the most consistent motives being among others the charge anxiety. Many researchers consider that the worries of the vehicle users are exaggerated and are not based on reality. Better documentation of the subject would reduce these fears and would increase the process of electrical vehicles absorption. The main objective of this article is to analyse the main anxiety factors by buying an electric vehicle and to reduce the related anxiety. For this purpose, the authors have performed an econometric analysis based on a questionnaire distributed online and face to face in Romania.