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Search results for: INVESTMENTS
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Is Financialization Killing Commodity Investments?
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The role of investments in economic development
PublicationIn the modern world, one may observe diversification of economies of given countries. Many of them, considered to be less developed,are aspiring to diminish the gap between them and well developed countries, one of such countries is Poland, which is trying hard to boots its competitive position in the worldwide market and achieve the constant and well-balanced development. It can be attained by building knowledge economy. Therefore,...
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The Principles of Alternative Investments Management
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Alternative Investments in Wealth Management
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Implementing Integrated Territorial Investments
PublicationThe chapter presents the first experiences related to the implementation of the Integrated Territorial Investment (ITI). In the case of the Pomeranian region in Poland, this process was associated with the creation of a broad partnership and bottom-up approach to the development strategy programming for Urban Functional Areas. In this paper, we try to assess the effectiveness of this process, by defining its strong points and bottlenecks,...
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SPATIAL PLANNING OF PHOTOVOLTAIC INVESTMENTS IN THE MOTORWAY ZONE
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Chinese Foreign Direct Investments in Europe. The Polish Case
PublicationThe first aim of this paper is to analyze the features that have motivated Chinese outbound investments in the European Union. The paper outlines also the policies adopted by the European institutions and its member states to encourage the increase of the Chinese FDI without harming the internal European market, and consequently phase out all concerns that are afflicting the European public opinion. The second purpose is more focused...
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Assessment of the Impact of Loss-of-Retention Fees on Green Infrastructure Investments
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Diamond investments – Is the market free from multiple price bubbles?
PublicationThe following study aims to investigate whether multiple price bubbles, in which the quoted market price of diamonds significantly deviates from their fundamental value, exist in the diamond market. It was conducted using ADF, SADF and GSADF tests, with the latter found to be an optimal form of evaluating the analysed issue. The presented results support the conclusion that the diamond market is not free from periods defined as...
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A role of an Enterprise Identification Card in a building process of water tourist investments
PublicationAn essential element of a building process for water tourist investments in Poland is a document called the Enterprise Identification Card. It is required for the investments, which are classified according to the Regulation [1] as the ones that could potentially impact the environment. It is assumed that KIP is there to protect the environment against the excessive human interference and it just provides the guidelines regarding...
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Investor confidence and high financial literacy jointly shape investments in risky assets
PublicationHouseholds consistently invest less in equities and bonds than predicted by economic theory. We explain this from a behavioral economics perspective and distributional analysis using rich US survey microdata. We find that higher investor self-confidence in her financial abilities and financial literacy jointly increase the probability of investing in equities. Conditional on participation, confidence in the macroeconomy additionally...
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Investor confidence and high financial literacy jointly shape investments in risky assets
PublicationHouseholds consistently invest less in equities and bonds than predicted by economic theory. We explain this from a behavioral economics perspective and distributional analysis using rich US survey microdata. We find that higher investor self-confidence in her financial abilities and financial literacy jointly increase the probability of investing in equities. Conditional on participation, confidence in the macroeconomy additionally...
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The share of investments in gold and oil using the example of selected European stock exchanges– A comparative analysis
PublicationIn this article, optimal investment portfolios with minimal risk and maximum efficiency were calculated. The portfolios were designated for ten selected European stock exchanges, based on the listings of the twenty largest companies in each of those markets. All calculations were made based on company shares only, company shares and investments in gold, shares of companies and investments in crude oil as well as shares of companies...
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ASSESSMENT OF GOLD AND/OR CRUDE OIL AS INVESTMENTS FOR PORTFOLIO DIVERSIFICATION. A WARSAW STOCK EXCHANGE CASE STUDY
PublicationThe purpose of the study is to assess whether the inclusion of investments in gold and/or crude oil improves an investment portfolio consisting of shares of enterprises included in the WIG20 index (traditional invest-ments). All possible combinations of investment portfolios with minimal risk and maximum efficiency were tested. The portfolios were determined based on Markowitz’s portfolio theory. All results were compared...
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Analysis of Investments in RES Based on the Example of Photovoltaic Panels in Conditions of Uncertainty and Risk—A Case Study
PublicationThe aim of this study is to examine the profitability of investment in a photovoltaic microinstallation, to analyze the impact of legal changes on its profitability, and to perform a sensitivity analysis of the investment profitability to energy price changes. The novelty of the research applies to the financial analysis of two legal systems of discount called net-metering and net-billing. The two systems and the change in energy...
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Impact of Investments and R&D Costs in Renewable Energy Technologies on Companies’ Profitability Indicators: Assessment and Forecast
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More freedom – more investments. The relationship between the extent of fiscal autonomy with respect to own revenues and investment expenditures of Polish communes and cities with county rights
PublicationThe purpose of this study was to investigate the relationship between own revenues characterized by different levels of fiscal autonomy and investment expenditures of selected local government entities in Poland. Accordingly, the following research hypothesis was formulated: there is a relationship between the type of own revenue identified with respect to fiscal autonomy and the size of investment expenditures. Revenues characterized...
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Investing in wine, precious metals and G-7 stock markets – A co-occurrence analysis for price bubbles
PublicationThis paper used the GSADF test to determine the periods defined in this paper as price bubbles in the three markets studied, i.e. the investment wine market, precious metal market and national stock market indices of G-7 countries. The results obtained enabled the calculation of the values of the phi correlation coefficients, which served the research objective of assessing the co-occurrence of price bubbles in the markets analysed....
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Mutual Attraction: Siemens Activities in Italy 1855-1968
PublicationThe chapter deals with Siemens investments in Italy between 1855 and 1968. The contribution shows how the two war influenced the strategies of the company
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Diversification of investment efficiency in selected economies
PublicationAn assessment of the effectiveness of investments is a key element of investment processes. In order to be comprehensive and exhaustive, it should go beyond the scope of the microeconomic assessment and take into account the macroeconomic calculation of effectiveness. The prerequisite for the effectiveness of investment decisions implemented by private companies is the maximization of the return on the investments. When attempting...
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The new investing effectiveness evaluation multi-criteria method in modern supply systems
PublicationThe important problem in the processes of modelling and programming the development of sustainable energy sector is the multi-criteria manner of assessing the effectiveness of investments. The goal of this paper is to show how to take into account the impact of investments in multidimensional modelling decision-making processes. This goal can be achieved through the development, presentation, and use of a new multi-criteria method...
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INWESTYCJE ALTERNATYWNE – OPŁACALNOŚĆ A RYZYKO
PublicationW rozprawie określono pojęcie oraz miejsce inwestycji alternatywnych na rynku inwestycyjnym. Wskazane zostały atrybuty tych inwestycji. Zbudowano klasyfikację inwestycji alternatywnych w podziale na kategorie oraz typy wraz ze wskazaniem powiązań pomiędzy poszczególnymi produktami. Dokonano autorskiego podziału analizowanych inwestycji na aktywne i pasywne. Zbadano stopę zwrotu i ryzyko pięćdziesięciu inwestycji alternatywnych,...
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Potential Impact of Waterway Development on Cultural Landscape Values: The Case of the Lower Vistula
PublicationThe northern (“lower”) section of the Vistula is on the route of two international waterways—E70 and E40. However, the current condition of the riverbed prevents larger vessels from passing through. Plans for the waterway date back to the beginning of the 20th century. Following Poland’s ratification of the European Agreement on Main Inland Waterways of International Importance in 2017, the general concept has been transformed...
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Examples of Taxation on Real Estate Properties as an Long-term Investment Asset. Description of Situation in Selected European Countries
PublicationReal estate properties have become the alternative asset for long-term savings and investments. Such investment however is strictly related to risk inter alia taxation policy. The following article describes and discusses both theoretical and practical aspects of long-term investment taxation imposed on real estate market in selected European countries. The article presents the analyses of the taxes including its functions, mechanisms...
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Migration of container terminals as their natural process of evolution: Case study of Gdańsk and Gdynia ports
PublicationThe paper proposes a theoretical model of container terminals and container port development, based on the life cycle theory, threshold theory and catastrophe theory, and in references to Kuznets' swings (interpreted as waves of infrastructural investments), and Kondratiev long economic waves. The aim of this model is to explain the development process of a container terminal and a port within one technological generation, as...
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Methods of Artificial Intelligence for Prediction and Prevention Crisis Situations in Banking Systems
PublicationIn this paper, a support vector machine has been studied due to prediction of bank crisis. To prevent outcomes of crisis situations, artificial neural networks have been characterized as applied to stock market investments, as well as to test the credibility of the bank's customers. Finally, some numerical experiments have been presented.
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Rynek inwestowania w sztukę jako przykład inwestycji alternatywnej
PublicationW opracowaniu przedstawiono klasyfikację inwestycji emocjonalnych jako jednej z kategorii inwestycji alternatywnych. Ocenie poddano wpływ inwestorów chińskich na kondycję rynku sztuki. Zbadano zmienność stopy zwrotu dla wybranych krajowych rynków sztuki. Obliczono podstawowe miary statystyczne dla analizowanych inwestycji alternatywnych. Wskazano na potencjalne możliwości obniżenia ryzyka portfela inwestycyjnego poprzez odpowiednią...
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ESG investing during the Covid-19 crisis. Evidence from Central European Stock Exchanges
PublicationAs COVID-19 turned into a global pandemic, world markets gradually began to recover after initial dynamic declines. Restrictions, and their subsequent loosening, were, and are, not without significance for the financial markets. These particular circumstances provide a unique opportunity to contribute to the literature by focusing on the potential resilience of ESG (environmental, social and governance) investing in an era of crisis....
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Inwestycje w surowce w połączeniu z polskim rynkiem kapitałowym, analiza ryzyka i efektywności
PublicationW artykule przedstawiono główne kategorie i rodzaje inwestycji w surowce. Cel opracowania to zbadanie czy inwestycja w Warszawski Indeks Giełdowy stanowi główny składnik optymalnego tj. cechującego się minimalnym ryzykiem portfela inwestycyjnego. Ponadto ustalono czy wspomniana inwestycja tradycyjna stanowi najważniejszy element portfela inwestycyjnego odznaczającego się najwyższą efektywnością. Stwierdzono, że wszystkie z 29 analizowanych...
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Zastosowanie analiz i prognoz ruchu w programowaniu, planowaniu i projektowaniu inwestycji transportowych
PublicationW artykule zostanie przedstawiona charakterystyka procesu planowania i realizacji inwestycji transportowych ze szczególnym uwzględnieniem roli analiz i prognoz ruchu. Przedstawione fazy planowania, projektowania i realizacji inwestycji transportowych omówiono na przykładach wielu inwestycji prowadzonych w ostatnich latach na obszarze miasta Gdańska i województwa pomorskiego. Szczególną uwagę poświęcono roli analiz i prognoz ruchu...
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ARCHITECTURE OF HYDROPOWER PLANTS IN POMORZE
PublicationThe history of energetic use of the rivers of Pomerania (Pomorze) is traced from the late Middle Ages. Their potential due to geographical specificity of the region was still attractive in the era of electricity of the19th and the first half of the 20th century. Configuration of the terrain, geological, and natural restrictions, but mainly energetic potential of particular localization were crucial for economical success of the...
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COMPARISON OF INVESTMENT PERFORMANCE MEASURES USING THE EXAMPLE OF SELECTED STOCK EXCHANGES
PublicationIn the following paper, the main objective is to examine whether the selection of the performance measure influences the evaluation of individual investments and the performance rankings generated on that basis. This study presents the values of 16 performance indicators along with their detailed descriptions. All calculations were made using the R program, and the source code can be found at the end of the article. Nine selected...
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Cost assessment of computer security activities
PublicationComprehensive cost-benefit analysis plays a crucial role in the decision-making process when it comes to investments in information security solutions. The cost of breaches needs to be analysed in the context of spending on protection measures. However, no methods exist that facilitate the quick and rough prediction of true expenditures on security protection systems. Rafal Leszczyna of Gdansk University of Technology presents...
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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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Capacity analysis of the selected track system in partially ordered space
PublicationA proper location of the interval sections has significant impact on the traffic flow in the railway track network. This issue is critical during line modernization as well as when a new solution accounting for the traffic forecast at particular element of the railway track network is developed . However, the situation is more complex and more expensive for railway stations since improvement of the capacity requires critical organizational...
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Protection and renovation of public areas in a modernist city: the case of three streets in the historic City Centre of Gdynia
PublicationThis article concerns issues related to the preservation and restoration of public space in Gdynia’s city centre, which was designed and built mainly in the 1920s and 1930s. In 2007, a major part of the city centre was entered into the register of monuments asa historic complex of urban architecture. Moreover, in 2015, the area was declared a Monument of History. Protection of a complex of urban architecture covers not only the...
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Inwestycja w złoto – bezpieczna przystań, zabezpieczenie czy źródło dywersyfikacji dla polskiego inwestora
PublicationW artykule scharakteryzowano pojęcie inwestycji zabezpieczającej, dywersyfikującej oraz inwestycji określanej jako bezpieczna przystań. Celem opracowania jest zbadanie, czy występują powiązania między stopami zwrotu osiąganymi na polskim rynku akcji a stopami zwrotu z inwestycji w złoto. W pracy zweryfikowano hipotezę: stopa zwrotu z inwestycji w złoto spełnia funkcję inwestycji zabezpieczającej w długim okresie w stosunku do inwestycji...
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Building Information Modelling as an opportunity and risk for stakeholders involved in construction investment process
PublicationThe requirements to apply Building Information Modelling (BIM) in public investments worldwide are currently very high. Significant interest (sometimes formulated also as a requirement) in BIM technology can be observed also among private investors. Design technology that applies BIM is supported by many private investors due to its numerous advantages. A growing group of construction designers (steel, concrete and reinforced concrete...
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Evidence-Based Risk Management for Civil Engineering Projects Using Bayesian Belief Networks (BBN)
PublicationThe authors are seeking new methods for improving the efficiency of the investments associated with the maintenance and operation of existing civil engineering structures. It is demonstrated how the knowledge about the elements of construction and operation phases and their relationships, combined with monitoring data can be used for more effective management of the risks associated with civil engineering projects. The methodology...
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A Model for Risk Assessment and Management of Construction Projects in Urban Conditions
PublicationThe authors are seeking new methods for improving the efficiency of the investments associated with the maintenance and operation of existing civil engineering structures. It is demonstrated how the knowledge about the elements of construction and operation phases and their relationships, combined with monitoring data can be used for more effective management of the risks associated with civil engineering projects. The methodology...
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Systematic review examining the evidence for impact of school policies on physical activity
PublicationBackground Epidemiological evidence has demonstrated that physical activity can have substantive health benefits for children and young people. The 'Policy Evaluation Network' is a multi-disciplinary research network across 7 European countries and New Zealand aimed at building capacity and evaluating the level of impact of policy interventions for promoting healthy lifestyles. The Toronto Charter identified 'whole-of-school' programmes...
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Application of multi-criteria method to assess the usefulness of a hydrotechnical object for floating housing
PublicationThis publication presents the analysis of three hydrotechnical objects located in the Municipality of Gdańsk with a view of mooring Floating Houses. The assessment of the adaptation of a hydrotechnical object has been carried out by a multi- criteria method AHP and using the main criteria such as: mooring system, communication with the mainland, availability of the utility networks, waste disposal and location of the parking spaces....
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MARKAL LONG-TERM POWER GENERATION SCENARIOS FOR POLAND: INCREASING THE SHARE OF RENEWABLE ENERGY SOURCES BY 2040
PublicationIn this paper, renewable energy sources (RES) support mechanisms in Poland was presented with perspectives of proposed support system modifications, discussed in the project of Renewable Energy Act. In addition, MARKAL model of RES support mechanism was presented, taking into account technology-specific multiplication factors. Two model runs with emission trading system in place and two additional runs without emission trade were...
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Wartość miejsca w małym i średnim mieście
PublicationPublic space is a matter of concern for international humanitarian organisations. The paper describes the initiative of UN-Habitat organisation for the creation of Charter of Public Space and the draft of this document. Next the definition of “place” is provided and the definitions of social capital and the bond between social capital and place attachment are presented. The actions proposed nowadays to create places are described....
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The importance of a place in a small or medium - Sized Town.- Vol. 2
PublicationPublic space is a matter of concern for international humanitarian organisations. The paper describes the initiative of UNHabitat organisation for the creation of Charter of Public Space and the draft of this document. Next the definition of “place” is provided and the definitions of social capital and the bond between social capital and place attachment are presented. The actions proposed nowadays to create places are described....
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MARKAL long-term power generation scenarios for Poland: Increasing the share of renewable energy sources by 2040
PublicationIn this paper, renewable energy sources (RES) support mechanisms in Poland was presented with perspec-tives of proposed support system modifications, discussed in the project of Renewable Energy Act. In ad-dition, MARKAL model of RES support mechanism was presented, taking into account technology-specific multiplication factors. Two model runs with emission trading system in place and two additional runs without emission trade...
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Does source matter? Generation of investment expenditures by different types of local government revenues
PublicationThe purpose of the article was to investigate the impact of the three fundamental statutory categories of budget revenues, i.e. own revenues, general subsidies and specific grants on the size of investments made by local government units in Poland. The subject scope included the local government subsector in its entirety, as well as divided into 4 groups: communes (gminas), cities with powiat rights, districts (powiats) and province...
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Bridging the gap between business process models and use-case models
PublicationToday's software development methodologies are equipped with a plethora of methods and techniques for business process engineering and Requirements Engineering. However, heavy investments in IT have not brought forth expected results. What seems to be lacking is a systematic approach that consolidates both disciplines to gain a synergistic effect. To address this challenge we extend Use-Case Driven Approach (UCDA) by binding use...
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Coastal Cliffs Monitoring and Prediction of Displacements Using Terrestial Laser Scanning
PublicationCoastal cliffs are very sensitive to degradation caused by erosion and abrasion. Thus, it is very important to monitor susceptibility of the cliffs in terms of slope angles and ground fall resulting from vertical morphology of the cliffs. The results could be used for example to establish the boundaries of the safe investments zone or retreat infrastructure buildings in case of real threat such as degradation of the objects of...
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Exchange-Traded Funds in Europe
PublicationExchange-Traded Funds in Europe provides a single point of reference on a diverse set of regional ETF markets, illuminating the roles ETFs can play in risk mitigation and speculation. Combining empirical data with models and case studies, the authors use diffusion models and panel/country-specific regressions—as well as graphical and descriptive analyses— to show how ETFs are more than conventional, passive investments. With new...