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References [1] Logistics Doctrine, NP-4, (Sofia, 2012), p. 51 [2] Law on the State Reserves and the Wartime Stocks, Sofia, State Journal, issue 57, 28.07.2015,p. 1 [3] National Security Strategy, Sofia 2011, p. 12 [4] Law for Oil and Petroleum Products Reserves, Sofia, State Jurnal, issue 15, 15.02.2013, p.1 [5] Rules of Procedure of the State Reserve and Wartime Stocks State Agency, (Sofia, State Jurnal, issue 101, 19.12.2017,), p. 19 [6] Regulation for the Terms and Order for Organisation of the Activities on State Reserves and Wartime Stocks, Sofia, State

central Maine, USA. Canadian Journal of Forest Research, 32:2094-2105. GAFA, 2006: Handbuch Forstliche Analytik. Eine Loseblatt- Sammlung der Analysemethoden im Forstbereich, Gutachterausschuss Forstliche Analytik. Bundesministerium für Ernährung und Landwirtschaft, Berlin. Grüneberg, E., Ziche, D., Wellbrock, N., 2014: Organic carbon stocks and sequestration rates of forests soils in Germany. Global Change Biology, 20:2644-2662. Grüneberg, E., Aydin,C. T., Baritz,R., Milbert, G. 2016a: Die Waldböden und ihre Einflußfaktoren. In: Wellbrock, N., Bolte, A., Flessa, H

organic carbon and total nitrogen stocks in soils of Herschel Island, Western Canadian Arctic. Permafrost and Periglacial Processes 28: 92–107. PN-R-04032. 1998. Gleby i utwory mineralne. Pobierania próbek i oznaczanie składu granulometrycznego. Polski Komitet Normalizacyjny, Warszawa. Polish Soil Classification (Systematyka gleb Polski), 2011. Roczniki Gleboznawcze – Soil Science Annual 62(3): 1–193. Polskie Towarzystwo Gleboznawcze, 2009. Particle size distribution and textural classes of soils and mineral materials – classification of Polish Society of Soil Science


The paper deals with the optimal solution of the proposal of spare part stocks for the PANDUR armoured vehicle operated in the Army of the Czech Republic. The aim of the paper is to propose an optimal amount of spare part stocks according to their categorization from the viewpoint of the purpose of consumption, delivery time and expected operation. The solution is based on comparing the actual spare part consumption and the normative consumption. The actual consumption is considered for the entire time of use in the Army of the Czech Republic. For the purposes of the submitted article the brainstorming techniques and the integrated environment of the MATLAB program have been used in addition of basic methods


This paper examines the return and volatility spillovers of different sectoral stock prices in Nigeria using monthly data from January 2007 to December 2016. We employ the Diebold and Yilmaz (2012) spillover approach and rolling sample analysis to capture the inherent secular and cyclical movements in the sector stocks market.We show that there is substantial difference between the behaviour of the sectoral stock return and volatility spillover indices over time. We find evidence of interdependence among sector stocks given the spillover indices. While the return spillover index reveals increased integration among the sectoral stocks, the volatility spillover index experiences significant bursts during major market crises. Interestingly, return and volatility spillovers exhibit both trends and bursts respectively.


Oryginality and objective – Research on the pricing of stocks listed on developed markets shows inexplicable deviation from the pricing that could be observed with CAPM validity. A similar anomaly is found on the Polish market. Reasons for inconsistent pricing with CAPM are unknown, and they are the main objective of this research.

Method – The study is conducted using stocks listed on the Warsaw Stock Exchange in 1995–2012. Quintile stock portfolios are formed on the basis of strategies widely used by investors. The study is carried out in several modes. In the subsequent modes penny stocks with the market values below 0.5, 1.5, 5.0 and 15.0 PLN are eliminated.

Results – It is conjectured that both penny stocks and improper procedures for the test portfolios forming contribute to inconsistent stock pricing in light of the CAPM. The studies show that results are in line with the extended conjectures. Also, study results indicate that speculative stocks are mostly penny stocks, however, it is not possible to explicitly state that penny stock are speculative.

References Axford S.N. 1979 - Angling returns in fisheries biology - In: Proc. 1 st Brit. Fresh. Fish. Conf., University of Liverpool: 259-271. Bnińska M., Leopold M. 1987 - Analysis of general recreational fisheries pressure upon particular categories of waters - Rocz. Nauk Roln.   H-101 : 7-26 (in Polish). Bolotov V., Fatchullina L., Fatchullin S. 1974 - Recreational fisheries and its influence on bream stocks in medium Volga River - Ryb. Choz. Mosk. 12: 5-17 (in Russian). Churchward A.S., Hickley P. 1991 - The Atlantic salmon fishery of the River Severn

., Kothari S.L. 2011. Adventitious shoot regeneration and in vitro biosynthesis of steroidal lactones in Withania coagulans (Stocks) Dunal. Plant Cell Tissue and Organ Culture 105: 135-140. DOI: 10.1007/s11240-010-9840-3. Jain R., Sinha A., Kachhwaha S., Kothari S.L. 2009. Micropropagation of Withania coagulans (Stocks) Dunal: A critically endangered medicinal herb. Journal of Plant Biochemistry and Biotechnology 18: 249-252. DOI: 10.1007/bf03263330. Jat B.L., Meena G.P., Choudhary C.R., Maheshwari R.K., Jeswani G. 2014. In vitro propagation of Withania coagulance

Transportation and Communication. RelStat 2017. Lecture Notes in Networks and Systems , vol. 36, pp 313-319. Springer, Cham. 19. Lukinskiy, V.S., Lukinskiy, V.V., Shulzhenko, T.G. (2017) Logistic systems efficiency increase based on the supply chains integration. In: Procedia Engineering 178. Proceedings of the 16th International Conference “Reliability and Statistics in Transportation and Communication (RelStat’16), 19-22 October 2016, Riga, Latvia, pp. 117-122. DOI: 10.1016/j.proeng.2017.01.073 20. Minner, K. (1998) Safety stocks in

1 Introduction The stocks of coal are crucial areas of coal-fired power plants, in terms of safety, optimization of energy storage and environmental implications (e.g., [ 1 ], [ 2 ]). Although they are now usually protected from rain and wind by storage structures or more simply by coating with tarpaulins, in many old plants in the world these stocks are still exposed to natural climatic conditions such as rain. This climatic condition could allow the air pollution with fine coal particles, as close to mining areas (e.g., [ 3 ]), and leaching processes due to