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Search results for: financial investments, investing in value, contrarian strategies
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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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Analiza skuteczności wybranych strategii kontrariańskich na warszawskiej GPW w latach 2014–2018
PublicationCapital multiplication is the main goal of investors and for many years they have been looking for methods and strategies that would enable them to achieve it to the greatest possible extent. Due to the fact that the expectations and characteristics of investors, including those concerning the investment period, are diverse, multiple strategies have emerged. One of such strategies, mainly long-term in nature, is the so-called...
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Strategies to improve the nutritional value of meat products: incorporation of bioactive compounds, reduction or elimination of harmful components and alternative technologies
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Sustainable Investing. Socio-Economic Impacts of Exchange-Traded Funds
PublicationSustainable Investing: Socio-Economic Impacts of Exchange-Traded Funds examines the social and economic effects of sustainable investing ETFs and their impacts on the global financial system. The book presents the key issues with regard to sustainable investing, discussing exchange-traded funds mechanisms and categories in comparison to competing investment funds. The book outlines the theoretical determinants of ETF markets development...
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Sustainable investing exchange-traded funds: US and European market
PublicationThe key aim of the paper is to examine the diffusion of the sustainable investing exchange-traded funds (ETFs) on the European and US ETFs markets, with the special focus on the market shares of sustainable investing and conventional funds. The model of diffusion of innovation (logistic growth model) is applied. Monthly data on the assets of ETFs in the time period of 2006-2017 are used. Increasing assets of sustainable investing...
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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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What drives sustainable investing? Adoption determinants of sustainable investing exchange-traded funds in Europe
PublicationDespite the growing interest in various topics related to sustainable (ESG) investing, some issues remain understudied, such as the determinants of their utilization at the macro level. This paper contributes to the state of knowledge two-directionally. First, it shows the development of sustainable investing exchange-traded funds (ETFs) in European countries. Second, it traces the significant determinants of adopting sustainable...
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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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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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Exploring the relationship between investment choices, cognitive abilities risk attitudes and financial literacy
PublicationPurpose The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial literacy and objective financial literacy. Design/methodology/approach To examine the relationship, two investment choices were given to 256 subjects from Pakistan. Questionnaire had total 20 questions for measuring five variables. To review this...
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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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Real estate investment trusts in Turkey: Structure, analysis, and strategy
PublicationPurpose-Aim of this study is to make the determinations related to the problems mentioned in the REIT sector in Turkey, to offer a solution for this issue, and to ensure the classification in the sector by adhering to the financial data of the REITsMethodology-Financial data set of the REITs was firstly standardized by using median instead of mean. Then, the scoring was performed according to defined coefficients....
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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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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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Socioemotional Wealth (SEW) of Family Firms and CEO Behavioral Biases in the Implementation of Sustainable Development Goals (SDGs)
PublicationAgreed upon by the UN member states, Agenda 2030 assumes joint action for long- term sustainable development. These actions are focused on the implementation of 17 Sustainable Development Goals (SDGs), where actions are assumed to lead to the suppression of negative externalities of human activity. It is stressed that the objectives of sustainable development can only be achieved through deep institutional changes in most dimensions...
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Collaborative development model and strategies of multi-energy industry clusters: Multi-indicators analysis affecting the development of coastal energy clusters
PublicationThe paper explores Coastal Energy-Based Industrial Clusters (EBICs) and their role in advancing energy efficiency and sustainability through collaborative innovation. Economic growth theory and energy sustainability have been introduced into industrial clusters to illustrate indicators that have a greater impact on the development of EBICs. This paper proposes an EBICs development model based on the Cobb-Douglas function, in which...
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Merton-type default risk and financial performance: the dynamic panel moderation of firm size
PublicationPurpose – The main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation of firm size. Design/methodology/approach – This study utilizes a total of 1,500 firm-year observations from 2013 to 2018 using dynamic panel data approach of generalized method of moments to test the relationship between default risk and financial...
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Poland's economic relations with Kazakhstan
PublicationBefore 2019, economic relations between Poland and Kazakhstan were regulated by 22 international agreements. Poland has been trading with Kazakhstan since the 1990s. Overall, Kazakhstan had a positive trade balance with Poland, with the exception of the 1996–1998 and 2006–2007 periods. Polish foreign investment in Kazakhstan was not very impressive; the first investments started only in 2005. In 2019, about 200 companies with Polish...
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City as a product. Architecture as an Economic Instrument. Are Global Cities People-Friendly Places?
PublicationWhile spending time in our everyday urban environment do we ever think how particular architecture influences the economic value of that space? Space has its measurable financial value. From the economic point of view a place can be treated as a product that fights for appearing in tourists’ and investors’ consciousnesses. Space - treated as an object of demand and supply - becomes an element in a marketing game. To reach its...
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Exploring Stock Traders’ Cognitive Biases: Research Design and Simulator Framework
PublicationCognitive bias is a phenomenon that has been extensively studied in stock trading and many other fields. This paper presents a framework for a Mobile Stock Trading Simulator (MSTS) that facilitates automatic investment in stocks with minimal human influence, by investigating the behavioral patterns and cognitive errors of stock market investors. The paper aims to determine whether investors’ investment strategies can be improved...
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(Lost) Pride and Prejudice. Journalistic Identity Negotiation Versus the Automation of Content
PublicationThe objective of our research was to broaden the knowledge regarding the relationship between the work of journalists and their professional identity, and, in particular, to identify the attitudes of this professional group towards algorithmic content creation under conditions of liminality. Previously, the implementation of the technology of algorithmic content creation by media organisations was associated primarily with financial...
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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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A piece of corporate finance
PublicationThe handbook presents the subject of financial liquidity and CVP analysis. The handbook uses different types of information: definitions of the issues; “real life” examples illustrating a given theoretical issue in practice; mathematical formulas necessary to calculate a certain value; types of method used. In addition to traditional resources such as drawings, diagrams, tables and photos, the handbook also includes resources of...
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Financial Markets and Bankruptcy Systems: Is there a Relationship?
PublicationPurpose: Filling the cognitive gap in the theory of ex-post transaction costs, i.e., at the stage of enforcing market transactions by examining the relationship between friendliness/severity of the bankruptcy and restructuring law towards debtors, the level of development of financial markets, the effectiveness of the judicial system and the rate of debt recovery. Design/Methodology/Approach: In the research, the following methods...
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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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MARKETING STRATEGY - SPACE AS A PRODUCT.ARCHITECTURE AS A MARKETING DEVICE.
PublicationSpace has its measurable financial value. From the economic point of view place can be treated as a product that fights for appearing in tourists' and investors' consciousnesses. Space - treated as the object of demand and supply - becomes an element in a marketing game. To reach its maximal value the given space should be competitive to other spaces, from which it wants to stand out. However, in the field of architecture - and...
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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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Volunteerism in the last year as a moderator between empathy and altruistic social value orientation: An exploratory study
PublicationVolunteerism is a sustained prosocial activity, and young adults are one of the most important targets for organizations recruiting volunteers. Empathy and altruistic social value orientation measured by a decomposed game are dispositional traits that might foster engagement in volunteerism. Using a self-report online-based questionnaire study on two groups of young adults (aged 18-35, N = 224 non-volunteers and N = 178 volunteers...
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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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Doing well by doing good — CSR in a global context
PublicationMotivation: Nowadays, there is a general understanding that stakeholders are crucial for the successful enterprise. There is also a need to think about Corporate Social Responsibility (CSR) in a global context. Never before corporations enjoyed so much power and authority. Corporations need to evolve, re-think their strategies and change their processes accordingly. However, as of now, there is no agreed way of measuring overall...
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Doing Well by Doing Good- CSR in a Global Context
PublicationNowadays, there is a general understanding that stakeholders are crucial for the successful enterprise. There is also a need to think about Corporate Social Responsibility (CSR) in a global context. Never before corporations enjoyed so much power and authority. Corporations need to evolve, re-think their strategies and change their processes accordingly. However, as of now, there is no agreed way of measuring overall sustainability...
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Zadłużenie jednostek samorządu terytorialnego i jego determinanty
PublicationW artykule zbadano przesłanki i skutki zadłużania się jednostek samorządu terytorialnego w Polsce, a także zidentyfikowano determinanty ich zadłużenia w podziale na prawno-finansowe, polityczne, ekonomiczno-społeczne i organizacyjno-zarządcze. Przedstawiono również poziom zadłużenia tych jednostek w latach 2003-2020. Najbardziej zadłużone są miasta na prawach powiatu i gminy, co jest przede wszystkim związane z realizowanymi przez...
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Linkages between services and manufacturing as a new channel for GVC development: Evidence from CEE countries
PublicationThe goal of the paper is to verify a causal relationship between forward linkages from domestic services to manufacturing and the participation/position of a country in global value chains (GVCs) in selected Central and Eastern European economies. We observed a strong polarisation pattern: the Baltic countries along with the Czech Republic strengthen their positions and participation in GVCs by having a strong relationship between...
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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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Is it all about networking? Building a sustainable value of a small enterprise in Polish context
PublicationIn this paper we aim to propose and outline key ingredients to a small enterprise success, emerging from the social capital of small business owner-managers and their business networks. We employ resource based view of an organization as well as an embeddedness perspective along with new approach transaction costs to outline the pillars of an advantage of a small business entity. The analysis of survey data leads us to conclusion,...
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Social networks as a context for small business? A new look at an enterprise in the context of a smallness and newness liability syndrome
PublicationIn this paper we aim to propose and outline key ingredients to a small enterprise success, emerging from the social capital of small business owner-managers and their business networks. We employ resource based view of an organization as well as an embeddedness perspective along with new approach transaction costs to outline the pillars of an advantage of a small business entity. The analysis of survey data leads us to conclusion,...
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Automated Valuation Model based on fuzzy and rough set theory for real estate market with insufficient source data
PublicationObjective monitoring of the real estate value is a requirement to maintain balance, increase security and minimize the risk of a crisis in the financial and economic sector of every country. The valuation of real estate is usually considered from two points of view, i.e. individual valuation and mass appraisal. It is commonly believed that Automated Valuation Models (AVM) should be devoted to mass appraisal, which requires a large...
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WPŁYW OCENY WARTOŚCI ZACHOWANEGO KULTUROWEGO DZIEDZICTWA MATERIALNEGO NA PROCES INWESTYCYJNY NA TERENACH STOCZNI GDAŃSKIEJ OBJĘTYCH PROGRAMEM REWITALIZACYJNYM
PublicationRewitalizacja terenów poprzemysłowych i obiektów poprzemysłowych jest procesem długoterminowym i wieloetapowym. W pierwszym etapie rewitalizacji ważna jest ocena materialnej, emocjonalnej i użytkowej wartości zachowanego dziedzictwa kulturowego. Na przykładzie projektu rewitalizacyjnego, który trwa od 1996 r., Na dawnych obszarach Stoczni Gdańskiej, w których znajdują się pozostałości Stoczni Cesarskiej i Stoczni Schichau, przedstawiono...
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Glosa aprobująca do wyroku Izby Karnej Sądu Najwyższego z 29 maja 2018 r. o sygn. akt II KK 99/18. A comment of approval on the verdict of 29 May 2018 issued by the Criminal Law Chamber of the Polish Supreme Court (II KK 99/18).
Publication"Glosowany wyrok Sądu Najwyższego dotyczy problematyki orzekania o czynach przeciwko mieniu, w stosunku do których od 9 listopada 2013 r. kryterium uznania danego czynu za przestępstwo albo za wykroczenie stanowi określony w kodeksie wykroczeń wskaźnik minimalnego wynagrodzenia za pracę. We wskazanym zakresie należy mieć na uwadze minimalne wynagrodzenie z daty orzekania w przedmiocie odpowiedzialności za taki czyn, a nie z...
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EXCHANGE TRADED COMMODITIES AS A CATEGORY OF INNOVATIVE PRODUCTS ON EUROPEAN FINANCIAL MARKETS
PublicationThe article presents the main features of one category of innovative financial products – exchange traded commodities (ETCs) and results of the analysis of the European market for ETCs. ETCs are products listed and traded on the stock exchanges and they offer investors returns based on various assets (commodities or currencies). In contrast with the most widely recognized exchange traded funds (ETFs), ETCs are structured as debt...
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Logistics of Transnational Corporations as the Basis of Cooperation Between Ukraine and EU (for Poland Example)
PublicationThe article describes the scientific and theoretical basis for the organization of logistics management of modern international corporations, owning by assets in mining and metallurgical business in Ukraine and Poland; it had been analyzed the influence of transfer pricing mechanism as one of the main factors affecting on the efficiency of the organization of supply chain of resources (Ukrainian semi-finished goods) to ensure uninterrupted...
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THE CONCEPT AND THE STATE OF RESEARCH ON THE PERFORMANCE OF FAMILY BUSINESSES
PublicationPurpose: This study's primary goal is to present the theoretical concept of family enterprises. Specifically, the results of earlier studies and the issues facing this field of research now will be described. The article also examines the underlying impacts that family control has on business management in order to fill the research gap left by earlier studies on the performance differences between family and non-family enterprises....
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Future opportunities for products derived from black soldier fly (BSF) treatment as animal feed and fertilizer - A systematic review
PublicationThe pursuit of novel food products with good nutritional value for both direct and indirect human consumption is crucial. Given the nutritional benefits of insects and the sustainability of this sort of farming, using them as food for farmed animals is a promising alternative. In this regard, the black soldier fly (Hermetia illucens) is most capable of efficiently converting a wide variety of organic materials, from food waste...
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AMO model for neuro-inclusive remote workplace
PublicationPurpose The aim of this article is to extend current debates on organizational equality, diversity and inclusion to a consideration of neurodivergence in the remote workplace context. Design/methodology/approach Drawing on the ability, motivation, and opportunity (AMO) model and an emerging strength-based approach to neurodiversity, this conceptual paper integrates research on neurodiversity at work and remote working to provide...
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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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Achieving Efficient and Stable Deammonification at Low Temperatures—Experimental and Modeling Studies
PublicationThe short-term effects of temperature on deammonification sludge were evaluated in a laboratory-scale sequencing batch reactor (SBR). Mathematical modeling was used for further evaluations of different intermittent aeration strategies for achieving high and stable deammonification performance at decreasing temperatures. As for the biomass cultivated at high temperatures (e.g., 30 C), a higher temperature dependency (the adjusted...
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THE EFFECT OF LOG SORTING STRATEGY ON THE FORECASTED LUMBER VALUE AFTER SAWING PINE WOOD
PublicationThe optimal transformation path for the resource is determined by the quality of a log combined with its dimension. The commercial value of derived products is also closely connected with the size and extent of containing wood deficiencies. The results of studies with three diverse strategies for log sorting are presented in the paper. Resource assessment by a worker without extensive experience in sorting logs, the certified grading...
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Voltage variations and their reduction in a rural low-voltage network with PV sources of energy
PublicationRenewable sources of energy (RES), especially photovoltaic (PV) micro-sources, are very popular in many countries. This way of clean power production is applied on a wide scale in Poland as well. The Polish legal regulations and tariffs specify that every prosumer in a low-voltage network may feed this network with a power not higher than the maximum declared consumed power. In power networks with RES, the voltage level changes...
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Uczenie maszynowe do samoorganizacji systemów rozproszonych w zastosowaniach gospodarczych
PublicationW pracy omówiono uczenie maszynowe do samoorganizacji systemów rozproszonych w zastosowaniach gospodarczych ze szczególnym uwzględnieniem sieci neuronowych do predykcji finansowych oraz szacowania ratingu przedsiębiorstw. Oprócz sieci neuronowych, istotną rolę w przygotowaniu i testowaniu informatycznych systemów finansowych może pełnić programowanie genetyczne. Z tego powodu omówiono uczenie maszynowe w aplikacjach konstruowanych...