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Search results for: DIFFUSION MODELS, FINANCIAL MARKETS, EUROPE
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INCREASING POWER SUPPLY SAFETY IN THE ASPECT OF SUPPORTING THE RENEWABLE ENERGY SOURCES BY CONVENTIONAL AND VIRTUAL POWER STORES
PublicationThis paper presents characteristics and purposefulness of supporting the renewable energy sources (OZE) by means of energy stores. The main emphasis was placed on analysis of virtual energy stores available for implementation in Polish economy conditions. A role which management of Demand Side Response (DSR) may play in balancing Polish electric power system, is discussed. Implementation of such solutions together with conventional...
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Economic significance of initial public offerings in China and India
PublicationRapid economic growth in China and India has attracted attention of many researchers, focusing on various social and economic factors underlying the success of these countries. One of the key components of country’s economy is financial system which consists of segments such as banking sector and equity market. The topic of initial public offerings (IPOs), one of the corporate financing sources, involving raising funds through...
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Multi-factor fuzzy sets decision system forecasting consumer insolvency risk
PublicationThe objective of this study is to develop a multi-factor decision system predicting insolvency risk for natural persons with the use of fuzzy sets. Considering that the financial situation of households is affected by various endogenous and exogenous factors, the main assumption of this study is that the system for predicting financial difficulties should not be limited to the use of only a few financial variables concerning consumers,...
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Legislation and Practice of Selected State Aid Issues, According to EU and Polish Law
PublicationThe dataset encompasses several tables, each consisting of three elements: legislation, jurisprudence and scientific articles on numerous subjects and economic activities receiving public financial support in the form of state aid instruments. The set includes a subjective list of the most commonly used and/or disputable examples of granting aid, such as for (local) airports and airlines, steel production, shipyards, and coalmines....
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The trajectories of the financial crisis of companies at risk of bankruptcy
PublicationThis article concerns the assessment of the trajectory of the collapse of enterprises in Central Europe. The author has developed a model of a Kohonen artificial neural network. This model was used to determine 6 different classes of risk and was allowed to graphically determine the 5- to 10-year trajectory of going bankrupt. The study used data on 140 companies listed on the Warsaw Stock Exchange. This population was divided into...
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Implementing artificial intelligence in forecasting the risk of personal bankruptcies in Poland and Taiwan
PublicationResearch background: The global financial crisis from 2007 to 2012, the COVID-19 pandemic, and the current war in Ukraine have dramatically increased the risk of consumer bankruptcies worldwide. All three crises negatively impact the financial situation of households due to increased interest rates, inflation rates, volatile exchange rates, and other significant macroeconomic factors. Financial difficulties may arise when the...
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Determinants of the incidence of non-academic staff in European and US HEIs
PublicationIn this article, we contribute to the scant literature covering quantitative studies on the determinants of the non-academic staff incidence in higher education institutions by analysing how the proportion of non-academic staff is related to key features such as size, prestige, year of foundation and financial structure of universities. We apply nonlinear regression analysis to compare HEIs across Europe and the USA, taking into...
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The Efficiency of Post‐Communist Countries’ Health Systems
PublicationHealth‐care costs are a major financial burden for the transition economies, which have experienced rapidly increasing demand for health‐care services. The former communist countries of the Central and Eastern Europe and Central Asia needed to reform the financing of their health‐care systems and make efforts to strengthen the role of primary care while limiting the role of hospital care. The growing health needs and, consequently,...
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Structure of the US investment company industry over the period 2000 to 2017: substitution analysis
PublicationOver the last years the investment company industry has undergone deep transformation in the majority of the most advanced economies, including the United States. Traditional investment companies, such as mutual funds, have lost their market share to innovative exchange-traded funds (ETFs). The main distinctive features of ETFs are listing and trading in their units on the stock exchanges as well as lower costs for investors. The...
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Gas turbines – technological development and potential use in CAES systems
PublicationThis article briefly describes Compressed Air Energy Storage (CAES), focusing on the technological development of one of the key elements of such systems – the gas turbines. It presents the basic parameters and features of gas turbines, as well as turbine classes with example models. Main tendencies in the structural and technological development are discussed. Changes and trends on electric energy markets are becoming more and...
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A compartment model of alveolar–capillary oxygen diffusion with ventilation–perfusion gradient and dynamics of air transport through the respiratory tract
PublicationThis paper presents a model of alveolar–capillary oxygen diffusion with dynamics of air transport through the respiratory tract. For this purpose electrical model representing the respiratory tract mechanics and differentia equations representing oxygen membrane diffusion are combined. Relevant thermodynamic relations describing the mass of oxygen transported into the human body are proposed as the connection between these models,...
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Corporate Governance and Ownership Structure in the Top 30 Listed Non Financial Companies in Poland
PublicationThis paper offers a first analysis of the relationships between corporate governance models and rules and ownership structure of the top 30 Polish firms listed at the WSE (not considering foreign firms and/or the Polish branches of foreign firms listed at the same stock exchange, nor the financial companies and the banks). The general picture depicted by this analysis is putting into evidence the increasing importance of institutional...
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Short-term momentum (almost) everywhere
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Who should be afraid of infections? Pandemic exposure and the cross-section of stock returns
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ESG investing in good and bad times: An international study
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Changes in shares outstanding and country stock returns around the world
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Count Data Modeling About Relationship Between Dubai Housing Sales Transactions and Financial Indicators
PublicationIn this study, illustrating and comparing the performances of count data models such as Poisson, negative binomial (NB), Hurdle and zero-inflated models for the determination of factors affected housing sales in Dubai. Model comparisons are made via Akaike’s information criterion (AIC), the Vuong test and examining the residuals. Main purpose of this study is building reliable statistical model for relationship between Dubai housing...
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Half-Order Modeling of Saturated Synchronous Machine
PublicationNoninteger order systems are used to model diffusion in conductive parts of electrical machines as they lead to more compact and knowledge models but also to improve their precision. In this paper a linear half-order impedance model of a ferromagnetic sheet deduced from the diffusion of magnetic field is briefly introduced. Then, from physical considerations and finite elements simulation, the nonlinear half-order impedance model...
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Selected Aspects of Biofuels Market and the Electromobility Development in Poland: Current Trends and Forecasting Changes
PublicationThis work presents basic information associated with markets of selected alternative fuels used in transport, such as methyl esters, conventional bioethanol and lignocellulosic bioethanol, and the market of electrical vehicles. Legal conditions, which stimulate development and regulate the mode of functioning of the liquid biofuel market until 2020 are discussed, based on provisions of EU directives. Data on biofuel production...
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Rozprzestrzenianie się w podtorzu skutków katastrof kolejowych z udziałem materiałów niebezpiecznych
PublicationDuża część przewozów materiałów niebezpiecznych prowadzona jest koleją. W związku z tym bezpieczeństwo tych przewozów nabiera coraz większego znaczenia. Każda katastrofa z udziałem materiałów niebezpiecznych ma negatywny wpływ na uczestników tego zdarzenia oraz na otaczające środowisko, bowiem jej zasięg na ogół nie jest lokalny. Z tego wynika, że w przypadku zaistnienia katastrofy należy minimalizować jej skutki oraz w dalszych...
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Structural Adaptive, Self-Separating Material for Removing Ibuprofen from Waters and Sewage
Publication-cyclodextrin nanosponge (CDM) was used for the adsorption of ibuprofen (IBU) from water and sewage. The obtained material was characterized by scanning electron microscopy (SEM), Fourier transform infrared spectroscopy (FTIR), Brunauer–Emmett–Teller (BET), Barrett– Joyner–Halenda (BJH), Harkins and Jura t-Plot, zeta potential, thermogravimetric analysis (TGA), differential scanning calorimetry (DSC) and elementary analysis (EA)....
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Bariery rozwoju przedsiębiorczości – analiza retrospektywna i porównawcza z innymi krajami Europy
PublicationCelem niniejszego artykułu jest ocena retrospektywna zmian w tym okresie, w zakresie opinii przedsiębiorców dotyczących najistotniejszych przeszkód w podejmowaniu i prowadzeniu działalności, oraz dokonanie analizy porównawczej z podobnymi badaniami, w innych krajach Europy, w celu wskazania, czy i w jakim zakresie różnią się te bariery w innych gospodarkach oraz czy są one również postrzegane w podobnym stopniu przez polskie środowisko...
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Wino – uzupełnienie czy dominujący składnik portfela inwestycyjnego o minimalnym ryzyku
PublicationCel – Określenie struktury portfela inwestycyjnego o minimalnym ryzyku, składającego się z inwestycji na rynku win oraz z inwestycji w akcje spółek notowanych na wybranych giełdach Europy Środkowo-Wschodniej. Metodologia badania – Konstrukcja portfeli inwestycyjnych zgodnie z teorią zaproponowaną przez H.M. Markowitza, poparta badaniami literaturowymi odnoszącymi się do zagadnienia ekonomii wi-na. Wynik – Inwestycja w wino może...
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Analog modelling in qualitative analysis of vibration propagation
PublicationThe theory of dynamic systems is usually used to model the real systems. The models are based on solving ordinary differential equations, partial or difference, which enable obtaining the relation between input signal and the system response (output signal). The analogy between those models and generalized dynamic systems or control systems can be practically used. Vibration propagation can be described in a similar way as the...
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Bankruptcy Law Severity for Debtors: Comparative Analysis Among Selected Countries
PublicationPurpose: The objective of this paper is to propose the new indicator of bankruptcy law severity for debtors (BLSI-Bankruptcy Law Severity Index). On the basis of this index we conducted comparative analysis of debtor/creditor friendliness of bankruptcy laws among 27 selected countries. Design/Methodology/Approach: In the research the following methods were used: analysis of legal acts, literature review and expert method. Findings:...
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Innovations in Wastewater Treatment: Harnessing Mathematical Modeling and Computer Simulations with Cutting-Edge Technologies and Advanced Control Systems
PublicationThe wastewater treatment landscape in Central Europe, particularly in Poland, has undergone a profound transformation due to European Union (EU) integration. Fueled by EU funding and rapid technological advancements, wastewater treatment plants (WWTPs) have adopted cutting-edge control methods to adhere to EU Water Framework Directive mandates. WWTPs contend with complexities such as variable flow rates, temperature fluctuations,...
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Dynamic Bankruptcy Prediction Models for European Enterprises
PublicationThis manuscript is devoted to the issue of forecasting corporate bankruptcy. Determining a firm’s bankruptcy risk is one of the most interesting topics for investors and decision-makers. The aim of the paper is to develop and to evaluate dynamic bankruptcy prediction models for European enterprises. To conduct this objective, four forecasting models are developed with the use of four different methods—fuzzy sets, recurrent and...
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L'economia mondiale dopo la guerra fredda
PublicationChe cosa è successo negli equilibri economici mondiali a partire dal 1989 e dalla dissoluzione del vecchio ordine sovietico? Dopo aver esaminato gli Usa e i suoi competitori asiatici, Giappone e Cina, il libro si concentra sull’Europa e sulle grandi trasformazioni portate dalla riunificazione tedesca, da Maastricht e dalla nascita dell’euro. Infine analizza, nell’ambito della globalizzazione, il ruolo dei BRICS, lo sviluppo economico...
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Balkan Stock Exchanges – Consideration of the Length of the Estimation Window in Similar Markets
PublicationPurpose: We study if capital markets in the Balkan are closely and positively related in terms of rate of return, risk, efficiency, and maximum cumulative loss in relation to different lengths of the estimation window. Design/Methodology/Approach: The research was carried out for the period from 01/01/2017 to 31/12/2019 using portfolio analysis. It was divided into an estimation window (01/01/2019 to 31/12/2019) and another with...
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Educating planners in Europe: A review of 21st century study programmes
PublicationEducation for urban, regional and spatial planning has become a regular subject throughout most European nations; this can be attributed in part to European policies promoting planning and spatially balanced development, but also to the recognition that planning can support sustainability. Nevertheless, there is lingering and justifiable concern about the status, profile and recognition of planning as a profession in its own right...
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Premie i dyskonta w wycenach przedsiębiorstw
PublicationGłównym celem artykułu jest ukazanie rodzajów i zasad stosowania korekt w wycenie przedsiębiorstw. Na podstawie literatury przedmiotu zaprezentowano wyniki badań dotyczące różnych koncepcji kalkulacji premii oraz dyskont, ich poziomów i czynników je kształtujących. Zaznaczono, iż podczas ich stosowania w wycenie spółki do każdego przypadku należy podchodzić indywidualnie i uwzględniać jego charakterystykę. W drugiej części opracowania...
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Russian companies on foreign stock markets: alternative to domestic market?
PublicationFirst aim of this study is to present the main aspects of the Russian stock market, including obstacles for local companies and investors. Second aim is presentation of the Russian companies listed on foreign stock exchanges. In order to perform such analysis, descriptive statistics and information about qualitative features were used. Assessment of the Russian stock market’s development level covered 2003-2012 time period. According...
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EFFICIENCY OF HEALTHCARE SYSTEMS IN EUROPEAN COUNTRIES - THE DEA NETWORK APPROACH
PublicationHealthcare systems in Europe are constantly undergoing reforms which adapt them to social, economic and political requirements. The aim of this article is to examine the efficiency of healthcare systems in 30 European countries in 2014. The Network Data Envelopment Analysis (NDEA) model was used. The efficiency of the countries’ overall health systems and their two main components were examined: the public health system and the...
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Photophysical processes in the selected white organic light-emitting diodes
PublicationThe first part discusses history of organic emitters, the scope of the work, phenomena in molecular systems, types of architectures in OLEDs, types of OLEDs emitting white light with examples from the literaturę and a description of the parameters chcracterizing LEDs. The second part describes materials, production of the samples, the measurement systems and results. In chapter 8.1 the results for the OLEDs based on emission from...
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Modeling of traffic safety indictors on Polish national road network
PublicationAlthough decreased from 2001 to 2013, Poland’s road deaths improved at a slower rate than the rest of the EU, leaving Poland as one of the worst road safety performing countries in the EU. The national road network in Poland, despite the dynamic transformation and development, still does not conform to the EU safety standards. Similar situation exists in other EU countries, particularly those in Central and Eastern Europe. Safety...
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Study on 19th-century cast iron columns from the former financial office building in Kwidzyn
PublicationThe article presents the results for cast iron columns used as floor supports in the former financial office building in Kwidzyn (Poland).The stocktaking drawings provided the general and detailed data about the 19th century designer’s decisions. During the research, architectural and structural analysis was carried out. The graphics were used as a starting material for preparing 3D calculation models. The FEM-based numerical simulations...
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Experimental Study of Polish Sausage Drying Kinetics and Contraction by Image Data Analysis
PublicationThe goal of this paper has been to add an experimental data set for drying a meat product and provide a comparison with well-established thin-layer drying models. This article presented experimental investigations on the convective drying of Polish sausage slices at a temperature of 40°C. Slices have been in the thickness of 3 to 8mm. Measurements of mass loss and size change were performed. The data have been presented in the...
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Does offshoring affect industry employment? Evidence from a wide European panel countries
Publicationis paper contributes to the literature on the possible impact of international outsourcing on domestic labour markets. We focus on off shoring-employment relationship. Th e analysis is performed for a wide European panel, composed of 27 EU countries and 13 manufacturing sectors, observed in the period 1995-2009. Th anks to the use of input-output tables from the WIOD project, we measure the intensity of off shoring in the sectors,...
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The congruence of mental models in entrepreneurial teams – implications for performance and satisfaction in teams operating in an emerging economy
PublicationPurpose – The paper aims to explore the relationship between the congruence of mental models held by the members of entrepreneurial teams operating in an emerging economy (Poland) and entrepreneurial outcomes (performance and satisfaction). Design/methodology/approach – The data obtained from 18 nascent and 20 established entrepreneurial teams was analysed to answer hypotheses. The research was quantitative and was conducted using...
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Economics of credit scoring management
PublicationCredit scoring models constitute an inevitable element of modern risk and profitability management in retail financial lending institutions. Quality,or separation power of a credit scoring model is usually assessed with the Gini coefficient. Generally, the higher Gini coefficient the better, as in this way a bank can increase number of good customers and/or reject more bad applicants. In...
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Brownian Motion in Optical Tweezers, a Comparison between MD Simulations and Experimental Data in the Ballistic Regime
PublicationThe four most popular water models in molecular dynamics were studied in large-scale simulations of Brownian motion of colloidal particles in optical tweezers and then compared with experimental measurements in the same time scale. We present the most direct comparison of colloidal polystyrene particle diffusion in molecular dynamics simulations and experimental data on the same time scales in the ballistic regime. The four most...
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Hidden Champions of Poland
PublicationPoland is a country with a strong entrepreneurial spirit. The hidden champions’ performance has been closely related to political and economic changes: the fall of communism in 1989 and the transition from a centrally planned economy to a market economy. This led to the emergence of small private businesses focused on the domestic market. The accession to the European Union in 2004 created new perspectives for the hidden champions’...
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On possible applications of media described by fractional-order models in electromagnetic cloaking
PublicationThe purpose of this paper is to open a scientific discussion on possible applications of media described by fractional-order (FO) models (FOMs) in electromagnetic cloaking. A 2-D cloak based on active sources and the surface equivalence theorem is simulated. It employs a medium described by FOM in communication with sources cancelling the scattered field. A perfect electromagnetic active cloak is thereby demonstrated with the use...
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LONG-TERM RISK CLASS MIGRATIONS OF NON-BANKRUPT AND BANKRUPT ENTERPRISES
PublicationThis paper investigates how the process of going bankrupt can be recognized much earlier by enterprises than by traditional forecasting models. The presented studies focus on the assessment of credit risk classes and on determination of the differences in risk class migrations between non-bankrupt enterprises and future insolvent firms. For this purpose, the author has developed a model of a Kohonen artificial neural network to...
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Evaluation of the factors influencing business bankruptcy risk in Poland
PublicationThis article is devoted to the issue of assessing the causes of business failure. The presented studies answer two research questions – what are the causes of corporate bankruptcies in Poland and how to more efectively predict the scale of bankruptcies in the country. The author has conducted a study to analyze the specic endogenous and exogenous causes of company bankruptcy depending on the type of the bankruptcy with consideration...
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The evolving structure of Polish exports (1994-2010) - diversification of products and trade partners.
PublicationThis paper presents empirical evidence on the diversification process concerning Polish exports (1994–2010), compared to European and global samples of countries. It analyzes both the commodity structure of Polish trade and the geographical diversification of Poland’s trading partners. The analysis draws on highly disaggregated data on exports (HS 6 digit) and combines descriptive analysis with non-parametric, semi-parametric and...
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Balance error generated by numerical diffusion in the solution of Muskingum equation
PublicationIn the paper the conservative properties of the lumped hydrological models with variable parameters are discussed. It is shown that in the case of the non-linear Muskingum equation the mass balance is not satisfied. The study indicates that the mass balance errors are caused by the improper form of equation and by the numerical diffusion which is generated in the solution. It has been shown that the classical way of derivation...
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FACTORS AFFECTING THE CONCLUSION OF AN ARRANGEMENT IN RESTRUCTURING PROCEEDINGS: EVIDENCE FROM POLAND
PublicationThe EU Restructuring Directive (2019/1023) requires Member States to provide a preventive restructuring framework for financially distressed entities that remain viable or are likely to readily restore economic viability. The first step to a successful restructuring is the approval of an arrangement between the debtor and creditors. The main research objective of the article is to identify factors affecting the conclusion of an...
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Factors affecting the conclusion of an arrangement in restructuring proceedings: evidence from Poland
PublicationThe EU Restructuring Directive (2019/1023) requires Member States to provide a preventive restructuring framework for financially distressed entities that remain viable or are likely to readily restore economic viability. The first step to a successful restructuring is the approval of an arrangement between the debtor and creditors. The main research objective of the article is to identify factors affecting the conclusion of an...
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What makes them dream big? Determinants of business growth aspirations among Polish students
PublicationThe objective of the article is to explore the concept of business growth aspirations and identify its determinants at an early stage of the entrepreneurial process. In this exploratory study, I focused on the underexplored approach to entrepreneurial process i.e. to study the growth aspirations and its determinants alongside entrepreneurial intentions. Studying growth aspirations and their determinants provides valuable insights...