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Conditions of Economic Efficiency of Industrial Enterprises in the Enterprise Life Cycle Stages


Subject and purpose of work: The purpose of the study is to determine the variables determining the level of synthetic measure of economic efficiency in listed companies of the industry sector as part of their enterprise life cycle.

Materials and methods: The article uses data from annual unitary financial statements of industrial enterprises according to the classification of the Warsaw Stock Exchange and data describing the macroeconomic situation of the state economy. The research period covered the years 1999-2012. In order to examine which factors determine the level of economic efficiency at each stage of the life cycle of enterprises, estimation of econometric models was carried out.

Results: In the models obtained for companies in the growth and maturity stage, statistically significant determinants were obtained only in the field of internal factors. In the models estimated for companies in the stages of launch, shake-out and decline, statistically significant conditions were identified, both in terms of external factors and in the area of internal factors.

Conclusions: A comprehensive assessment of the conditions for the level of economic efficiency of enterprises should take into account both factors dependent on the enterprise (microeconomic) as well as those determined by the environment (macroeconomic) and beyond its control. It is therefore necessary for managers of enterprises to have extensive and up-to-date knowledge of factors and conditions that are significant in shaping the level of economic efficiency.

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Direct Foreign Investment in Peripheral Regions: A Case Study of the Lublin Voivodship


Subject and purpose of work: The subject of analysis and evaluation are foreign direct investments (FDI) in Poland with particular emphasis on the Lublin Voivodship as a peripheral region. The aim of the paper is to present the investment attractiveness of the voivodship, the state of investment and ways to enhance the investment attractiveness of the region.

Materials and methods: This paper is based on statistical data from the Central Statistical Office (GUS), the National Bank of Poland (NBP) and other institutions, as well as published literature of this topic.

Results: This paper presents theoretical foundations of foreign investments, characteristics of the inflow of foreign direct investments to Poland in the years 2000-2017, their origin and directions of their use and distribution in the country. FDI is presented in detail in Lublin Voivodship, which is considered to be a peripheral region of Poland and the European Union.

Conclusions: FDI inflow to Poland was uneven in time, and investments were concentrated in the Masovian Voivodship and a few other voivodships of Western and Central Poland. Lublin Voivodship, despite activities increasing its investment attractiveness, still has unused opportunities for application of foreign investments.

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Old-Age Pension Insurance in ZUS and KRUS in the Context of the Insured and Public Finances


Subject and purpose of work: The subject of this paper was to assess the old-age pension insurance in ZUS (Social Insurance Institution) and KRUS (Agricultural Social Insurance Fund) from the perspective of a person insured and the public finances. The purpose of the study was to calculate the difference in saving efficiency of the insured in ZUS and KRUS.

Materials and methods: The study uses literature in the field of social security, legal acts, mass statistics data, and statistical data of KRUS and ZUS. Descriptive and financial analysis methods were used. The results of the study were presented using the tabular method.

Results: As a result of the analysis, it was found that currently the income adequacy of old-age pension insurance in Poland is about 50%. It is much lower than what is considered optimal, which is estimated at 70%. The share of subsidies for old-age pension insurance in budget expenditure in Poland is growing and in 2018 this ratio was 16.16%.

Conclusions: The efficiency of saving in old-age pension insurance in KRUS is over 6 times higher than the efficiency of old-age pension saving in ZUS.

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The Place of State Higher Vocational Schools (SHVS) from the Lublin Voivodeship in Local and Regional Development Strategies


Subject and purpose of work: The objective of this elaboration is to specify the place of state higher vocational schools from the Lublin voivodeship in development strategies of various territorial levels.

Materials and methods: The method of document research was applied within this elaboration, which consists of analysing the content of strategies and development plans. Within the study the induction method was also used (stage of literary studies), analysis and synthesis (stage of empirical research), deduction method (conceptual stage).

Results: References to state vocational schools occur more frequently in diagnostic segments than the programming ones of these strategic documents. Territorial self-government units (TSU) of the Chełmski subregion consider to a larger degree and thus, appreciate the functioning and public functions of vocational schools than it is the case with the Bialski or Zamojski subregions.

Conclusions: Within the regional strategic documents of the Lublin Voivodeship, statements referring to higher education refer rather to general matters. Within the local strategic documents, one may more frequently encounter more direct and literal references to the methods of possibilities of cooperation and co-action between TSU and business with state vocational schools for the benefit of local territorial arrangements.

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Quantitative Changes of Endogenous Factors Affecting the Economic Development of the Mazowieckie Voivodeship in 2004-2017


Subject and purpose of work: The article presents a quantitative change of endogenous factors affecting the development of the Mazowieckie Voivodeship in 2004-2017.

Materials and methods: The research uses a comparative analysis based on the data of the Central Statistical Office included in the Local Data Bank and the Statistical Yearbooks of the Mazowieckie Voivodeship.

Results: The results of the research show that in 2004-2017 the economic state of the Mazowieckie Voivodeship have significantly improved due to, the expansion of the transportation infrastructure and significant resources of well-educated human capital of the society.

Conclusions: To a large extent, the pace of development of the Mazowieckie Voivodeship is impacted by the capital of Poland located there. Other factors favouring the dynamic development of the voivodeship are high density of roads and railway, along with well-educated human capital.

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Support for the Development of Tourism from European Funds in the Eastern Poland Region in the Years 2014-2020


Subject and purpose of work: The article presents the diversity of the use of EU funds for tourism in Poland in the region of Eastern Poland in the years 2014–2020. The focus was on indicating the regional differentiation of the size and type structure of projects.

Materials and methods: The information base was data on projects co-financed from EU funds, collected in the National Information System (KSI SIMIK 2014-2020).

Results: In all voivodships, both in terms of the number of projects and their values, projects in the field of culture (cultural heritage, cultural institutions, cultural events) definitely dominated. They constituted over 50% of the total number of all projects and 65% of their total value.

Conclusions: In the years 2014-2020 tourism was included in the Regional Operational Programs indirectly, which impacted on the nature of implemented projects. Between them dominated projects related to the modernization and preservation of tourism resources, especially cultural projects.

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Technological Environment as a Factor of Development for Enterprises Providing Accommodation Services


Subject and purpose of work: The objective of this article was to present opinions of owners of all-year-round accommodation facilities operating within the area of the Lublin Voivodeship with regards to the meaning and manner of impacting on the development of enterprises by technological environment factors.

Materials and methods: In April and May of 2018 field research was realized by means of CAT method within the area of Lublin Voivodeship. The research covered 110 economic entities.

Results: The most numerous group of research participants - more than 80% considered the development of Internet as a rather contributing or definitely contributing to the growth of their economic entities. More than 60% of research participants noted that growth of computer systems, video and mobile telephones as well as development of transportation networks rather contributed to or definitely contributed to better functioning of accommodation facilities in the area of the Lublin Voivodeship.

Conclusions: Vast majority of entrepreneurs considered factors of technological environment, specified during research as contributing and definitely contributing to the development of Lublin accommodation facilities. The impact of Internet seems especially important. The type of commune does not differentiate in any statistically significant manner the entrepreneurs’ assesment regarding the impact related to the factors of technological environment on the growth of their companies.

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Transfer Prices and Aggressive Tax Optimization


Subject and purpose of work: The subject of this study is transfer prices and their use for optimization of financial burdens of international companies (capital groups). The purpose of this study was to present transfer pricing issues in the light of applicable law and using them for tax purposes.

Materials and methods: The study uses literature and data from the World Bank and Google. Methods of descriptive and tabular analysis and inference were used.

Results: Google makes 91% of its revenues outside the US.

Conclusions: Transfer pricing is a tool for optimizing tax burden of international companies that bring them benefits in the form of the so-called “globalization annuity”, which makes them economically stronger and more technologically competitive. Polish tax law on transfer pricing has been tightened since 2001; transfer pricing issues are also regulated by the European Union and the Organization for Economic Cooperation and Development (OECD).

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