<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">Space and technology are key determinant of innovation performance in industry not only in Poland, but also in developed economies. This research proved that space, time, technology and size of industrial enterprises are important elements of every regional innovation system. For this reason, those factors should be given appropriate attention while developing innovation strategies.</abstract>

Technology and Space in Innovation Performance of Polish Regions

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">To estimate the risk the investors take when investing their money in stocks or stock options one must study if the option is exercised or not. From the point of view of a call option writer, especially those uncovered, one should study the probability of the exercise of option by a holder. The method presented in the paper enables to estimate risk connected with investment in options. In the assessment of risk that is born when investing money in stocks or options it is interesting whether the option will be exercised or not. From the writers' point of view, particularly those without coverage, it could be necessary to analyse probability of the exercise of options by buyers. The described method allows to assess at any time of call option duration whether the investor can be certain of the result of their investment. It can be applied also for the option strategies. In the paper the author has attempted to estimate the risk of call option and to estimate the probability of profit achievement in the case of long strangle option application. Investors using option strategies are able to do preliminary analysis of options and to minimize risk of their investment through choosing a proper date and price of exercise.</abstract>

Probability of Exercise of Option

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">Human being is one of the most important sources of causative forces of events that assemble economical processes. Working out the effective tools that enable measurement of the impact of people on socio-economic processes is necessary in analyzing, troubleshooting and forecasting. In the article the issues of calculating propensities by means of properly specified econometrics models were presented. The definition of propensity was introduced. Questions connected with topic of propensities were presented in context of concepts promoted by Szczecin school of econometrics (pentagon of sources of causative forces, types of relationships in economics, geometric interpretation of personality, broom of events). Econometric models, useful in analyzing propensities, were classified on primary models, econometrics models of average propensities and econometrics models of marginal propensities. Connections between the models were described. Settlement of analytical shapes of characterized models was mentioned. In an empirical example the presented methods were used to analyze average and marginal propensity to consumption of alcoholic beverages and tobacco in the households of employees in manual labour positions in Poland in years 1993-2005.</abstract>

Econometric Models of Propensities

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The capital market appeared in Poland relatively not far ago, so it is the young market and is not shaped well. Although, the development rate does not satisfy all the believers of the capital market, it should be emphasized that this market is functioning and is developing. Market indicators are a significant element of the market analysis performed by means of fundamental analysis. The aim of this article is to study the statistic regularity in the scope of indicators connected with a dividend. In Poland dividend is not discussed often and indicators connected with dividend are practically not used in stock analysis. This study will show the usefulness of these measures in the analysis connected with investment on the stock exchange market. The analyses are conducted for some dividend variables on the Warsaw Stock Exchange (dividend rate of return and pay indicators, stopping and re-investment). The analyses concern data in the period of 2000÷2006. Some statistical parameters to detect statistical regularity for dividend rate of return and pay indicators, stopping and re-investment on the Warsaw Stock Exchange are used in the paper. The author tried to analyse the relation between selected variables too. The study should make it possible to decide if measures such as dividend rate of return and pay indicators, stopping and re-investment are unquestionably important and useful in stock analysis. It is particularly important from the point of view of long-term investment, as well as the fundamental analysis. They should be included in the group of market indicators in case of statistically significant influence of measures connected with a dividend on investment profitability. This leads to the possibility of significant growth of an investment that can turn out profitable on the capital market.</abstract>

A Statistical Analysis of Dividend in Chosen Companies Listed on the Warsaw Stock Exchange

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The aim of the article is an attempt to present tendencies and prospects of bank-insurance relationship development in Poland in the period of globalization and social insurance reforms. The evolution and financial system structure as well as the spheres of operation of the banking and insurance sectors, supported by examples are presented on the background of the current situation in Poland and European trends. The influence of social reforms as a factor determining creating banks-insurance companies structure (OFE market) is taken into consideration in the analysis.</abstract>

Relationships Between Banks and Insurers Vis-á-Vis Globalisation Processes and Social Reforms in Poland

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The paper presents the essence of the methodology of event study used in developed markets to evaluate post-acquisition performance based on the market data. In particular, the paper discusses the issues of abnormal returns and expected return models, presenting also selected examples of post-acquisition performance in developed markets. At the end, the author has addressed the issue of contemporary tendencies in the event study methodology.</abstract>

Event Study in the Evaluation of Effects of Mergers and Acquisitions

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">In the paper a method is found for estimating approximate optimum points on efficient portfolios curve (risk-profit) that are connected with exponential utility functions being very frequently preferred in practice by investors.</abstract>

Estimation of Approximate Values of the Optimum Points on Efficient Portfolios Curve

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The relation between the economy and the capital market is very interesting as far as analysis related to the capital market is concerned. The key statement is that the changes in the country economy have influence on the capital market. The aim of this article is to investigate if there are any essential connections between the values characterizing the capital market and the economy condition in Poland. Such values were taken into consideration as stock indices (<italic>WIG20, WIG</italic>), the rate of exchange, the level of unemployment, inflation, the <italic>GDP</italic>, Poland's economic growth. The analyses were made for some indices on the Warsaw Stock Exchange (<italic>WIG, WIG20</italic>) and for some economic variables (e.g. the level of unemployment, inflation, the <italic>GDP</italic>, the economic growth and other). Analyses were made for the data in the period of 2000-2006. Some statistical parameters were used to find statistical regularity for some indexes on the Warsaw Stock Exchange and for some economic variables observed in Poland. The authors analysed the relation between selected variables, too. <italic>Excel 2003 for Windows</italic> and <italic>Statistica 6.1 PL</italic> were used for all the calculations. The significant element of the fundamental analysis is the confirmation of a statistic regularity concerning the relation between the economy and the capital market. Stock analysis in the scope of fundamental analysis should be also made by the use of macroeconomic variables. It will considerably increase the safety of investment and also its profitability.</abstract>

The Estimation of the Influence of the Economy on the Capital Market in Poland During 2000-2006

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">In the paper the phenomena related to the tendencies in the exchange rate have been analysed basing on a new methodological approach to the category of foreign trade. The approach includes the so-called internal and external aspect of foreign trade. The approach proposed in the paper proves to be very helpful in the analysis of the phenomena in today's economy.</abstract>

Internal and External Aspect of Changes in Exchange Rate (Methodological and Theoretical Analysis)

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">This paper presents the overall review of globalisation of consumption as well as the new trends of purchasing and discusses the findings of the exploratory inquiry conducted in FMCG market in Poland in two different periods (1994 and 2003). Particular attention is paid to the consumer choice-related consequences of globalisation. Judging purchasing behaviour of Polish people on the basis of the conducted research one can assume that they are influenced by globalization, but not in all aspects. Brand is particularly important (while buying new products on the market) to young people, people holding higher education qualifications, private entrepreneurs, managers and specialists, rather professionally active than passive. Over 25% of respondents pay attention to the Polish origin of a product.</abstract>

Institute of Enterprise Economics and Organisation Faculty of Economics and Management, University of Szczecin, Mickiewicza 69, 71-101 Szczecin, Poland

Department of Marketing Faculty of Economics and Management, University of Szczecin, Mickiewicza 64, 71-101 Szczecin, Poland

Are we Facing a Global Consumer?

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">There are many factors influencing the level and changes of the labour productivity. One of the useful methods of identifying these factors is shift-share approach. It makes it possible to determine if the sectoral structure or the level of competitiveness of the economy affects the dynamics and differentiation of labour productivity. The research concerned countries of the European Union, covered the period of 1999-2006 and was conducted for six main economic sectors. All examined countries were characterized by constant growth of labour productivity which was mainly caused by the increasing productivity in market financial services. The basic reason of productivity diversification was a country's competitiveness. The positive relation between sectoral structure and regional component also occurred.</abstract>

Productivity Changes in the European Union: Structural and Competitive Aspects

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml"><italic>Business demography</italic> is a new developing field of research. Problems in scientific research occur due to methodological inaccuracies. Differences in defining terms and indicators, and differences and changes in business registration standards make it difficult to analyse data in time or to conduct a comparative study of various countries. Many problems still remain to be solved; however, there is a need to study the population of firms and to analyse processes occurring in these populations. This article shows the data on birth rates and death rates of European business entities registered by the Eurostat. It also presents firm set-up indicators and firm liquidation indicators in the Zachodniopomorskie voivodship as compared to the Polish market.</abstract>

Business Demography - the Analysis of Firm Population in the Zachodniopomorskie Voivodship as Compared to the Polish and European Market

AHEAD OF PRINT

Volume 23 (2023): Issue 2 (December 2023)

Volume 23 (2023): Issue 1 (June 2023)

Volume 22 (2022): Issue 2 (December 2022)

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Volume 21 (2021): Issue 2 (December 2021)

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Volume 19 (2019): Issue 2 (December 2019)

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Volume 18 (2018): Issue 2 (December 2018)

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Volume 14 (2014): Issue 2 (December 2014)

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Volume 13 (2013): Issue 2 (December 2013)

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Volume 12 (2012): Issue 2 (December 2012)

Volume 11 (2012): Issue 1 (December 2012)

Volume 10 (2011): Issue 2 (June 2011)

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Volume 6 (2007): Issue 1 (January 2007)

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