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Jani Bekő and Darja Boršič

Abstract

We examine the purchasing power parity (PPP) hypothesis of 10 members of ASEAN. A battery of panel unit root tests is employed on data series from January 1995 to January 2018 in order to search for validity of PPP in the period before the Great Recession and in the post-crisis period. All the calculations are based on four numeraire currencies: Chinese yuan (CNY), Japanese yen (JPY), US dollar (USD), and the euro (EUR). First, following the outcome of the present study for ASEAN countries, the PPP holds mostly with respect to CNY rates. Second, for the post-financial crisis period, our research proves conclusively that the PPP supposition is predominantly valid between the currencies of ASEAN countries and EUR rates. The sample of countries in the study is limited to the ASEAN group of economies. Based on the evaluated parity conditions, the emergence of global economic crisis brought about significant currency shifts in the ASEAN. The selection and testing of a broader range of numeraire currencies is vital to provide empirical underpinning for PPP notion.

Open access

Bogdan Nogalski, Przemysław Niewiadomski and Agnieszka Szpitter

Summary

The main aim of this paper is to develop a model of key technical dynamic capabilities providing implementation flexibility of manufacturing companies of the Polish agricultural sector. Achieving the main target required to formulate sub-targets, to which the following have been included: the query of subject literature remaining in a direct relation to the topic of the research, which, in the authors’ intention, will find its expression in the developed definition of technical dynamic capabilities. At the design level, it is essential to search for the answer to the question: what technical capabilities imply dynamic flexibility of the Polish manufacturers of the agricultural machinery sector?, while, at the empirical level, to prioritize individual technical dynamic capabilities and determine what deficiencies in this area are characteristic for the studied companies.

Open access

Maria Adelina Constantinescu, Mihaela Adriana Tiţa, Ovidiu Tiţa, Cristina Bătuşaru and Cristina Popovici

Abstract

Milk and dairy products are some of the most popular and consumed food products. They can be eaten from an early age and bring a significant nutritional contribution to the health of the consumer. The main objective of this study was to identify socio-economic and demographic factors that influence consumer preferences for dairy products. The study was conducted using a questionnaire and targeted two types of dairy products: packaged dairy products and unpackaged dairy products.

Open access

Tymon Ostrouch and Waldemar Sługocki

Summary

In the 21st century in a globalized world the level of competitiveness depends on numerous factors. This article concentrates deliberations on several of them, including space, population and international exchange. For ages, the international position of a country depended on its geographical size or access to sea. The country’s size was also determined by its internal demographic potential. As civilization progressed, there was a reorientation of factors which influence the development of individual countries and their regions. The contemporary world has seen an emergence of countries with small surface area and minor human potential, which yet are global development leaders. In the literature, they are often referred to as small states. Analysis of research shows that small countries are more involved, for instance, in providing support for the society. International exchange is also important for the development of individual countries. In this aspect, small countries turn the apparent threat related to a small market into an advantage. In the conclusion of the deliberation, the authors of the study point out that despite significant economic, social and cultural evolution, space and population are still important elements of development, although, they note, the role of such elements of spatial policy as natural resources is smaller than in the past.

Open access

Maria Akulich and Jerzy Kaźmierczyk

Summary

This article examines modern economy and society taking the formational approach, which is based on the concept that for the modern world and the predicted future, the economy will remain the foundation of society. An understanding of modern society as a post-capitalist society is proposed and justified. The definition of post-capitalism is determined as a stage of capitalism. Humankind would enter its last stage, a stage of liberal democracy and global capitalism. The major features of post-capitalistic society are examined and analyzed: economic, political, spiritual, cultural and domestic.

The economic determinism in its pure form is supplemented with informational determinism in modern society, although the economy remains the primary determinant of social development. Post-capitalism is not a new concept but rather is a new stage in the development of a capitalist socioeconomic formation. An important distinction between capitalism and post-capitalism is that capitalism is characteristic of a society that is engaged in industrial and commercial development. A society has reached the post-capitalism stage when it has passed the industrial stage and entered the information era.

Open access

Marcin Wiśniewski

Abstract

Social impact bonds are an innovative mechanism for financing social tasks with the financial resources of private investors. The repayment of the capital invested and capital gains depends on obtaining apredetermined social aim that is paid for by the public side under the “payment for results” formula. The previous work on this mechanism focused mainly on its task and organizational dimension. In this paper, the author attempts to define the social impact bond as afinancial instrument. In particular, the financial side of the mechanism is considered. First, an attempt is made to determine the place of the social impact bond in the theoretical classifications of financial instruments. Second, the place of the instrument is indicated in the system of financial law. Finally, some remarks are made on the need to have the new instrument regulated in Polish legislation.

Open access

Ia Natsvlishvili

Abstract

This research discusses the role of social entrepreneurship as an important feature of the moral economy, i.e., a socially responsible business practice. Developing countries, e.g., Georgia, a post-Soviet country, differ from those in the West in this aspect. The author aims to identify peculiarities of social entrepreneurship and corporate social responsibility of Georgian businesses. Desk research provides conceptual analysis of the existing quantitative and qualitative studies, based on prominent scientists’ works in economics and entrepreneurship. A “moral economy” understands business activities as “social services.” Social responsibility is a business’s moral framework, suggesting a company’s obligation to generate social benefit. Social entrepreneurship combines the best practices from the nonprofit and for-profit activities to tackle social needs poorly addressed by businesses and governments. Social entrepreneurship is a relatively new phenomenon in post-Soviet countries, where nongovernmental organizations help in solving many social problems, but their efforts are typically insufficient. Entrepreneurs must find a balance between a company’s success, employees’ needs, and environmental and social stability. These three priorities form the foundations of corporate social responsibility. Economic history provides many examples of moral standards driving the stability of a socio-economic system and profitability of companies with macroeconomic and microeconomic positive impacts. Companies operating in Georgia spend their funds on social projects and charity; moreover, such socially oriented activities are sometimes chaotic. Companies need to implement social responsibility projects as part of their business plans. Strengthening corporate social responsibility could thus support development of social entrepreneurship.

Open access

Florence Neymotin and J. Preston Jones

Abstract

While usually lauded, "empathic giving" may actually lead to suboptimal outcomes due in part to the enhancement of tribal sentiments in individual interactions, as well as by decisions driven more by emotional, rather than rational, considerations in the giving process. This point is linked to recent suggestions that government should reform social safety nets in order to decrease these negative interactions, and increase their efficacy. To this end, we use analyses of the September Supplements to the Current Population Survey in order to explore and find a negative change in individual-level volunteering subsequent to hurricanes Katrina and Ike, but not after hurricane Charley. We also find variations by region, and in particular, in "Deep Blue" states, as well as by whether individuals were located in the hurricane-affected states. Our findings are consistent with the notion that empathy may lead to more problems, including burnout and stratified giving, with implications for a public or private call to action.

Open access

Stefan Lachiewicz, Marek Matejun, Paweł Pietras and Maciej Szczepańczyk

Summary

The aim of the article is to present the key features, stages, advantages and threats of servitization as a concept for managing the development of small and medium-sized enterprises. A literature review and empirical research carried out in the form of a case study of the medium-sized company Mikomax sp. z o.o. from Poland served to achieve the aim of the article. The obtained results indicate a significant role of servitization in the development of the analyzed company. A phased approach to the implementation of this concept has been identified, requiring a number of changes to be made in the management systems of the enterprise. Servitization is a source of strategic, marketing and financial benefits for the company, and the management plans to further develop servitization activities aimed at expanding its market offer and building a sustainable competitive advantage.

Open access

Marcela Tittlová

Abstract

The neglect of seniors is a major problem of the society. In terms of various European documents, maltreatment is qualified as one of the forms of domestic violence. It is undoubtedly one of the latest forms we encounter in domestic violence. The generators of the attacks could be different family members as well as those who are responsible for the care of the seniors. In any case, it is a very negative social phenomenon even in the context of the constant aging of the population and in social and economic context. Seniors are a particularly vulnerable category of people, very similar to children. For this reason, this problem can be considered as an integral and inseparable part of the complex of domestic violence.