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Economic crisis in Croatia
PublicationCroatia is becoming the 28th member of the European Union on July 1st, 2013. Croatia has gone a long way from a socialistic republic to an independent country recognized as one of the economic tigers of the Western Balkans in the first decade of the 21st century. Croatia has been hit by a global crisis which turned out to be a huge external shock for the region of the Western Balkans. Although it does not enter the economy through...
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Economic Crisis in Croatia
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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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Economic Crisis, Trust and Socio-Economic Aspects of Sustainable Development
PublicationW artykule podjęto tematykę relacji pomiędzy kryzysem ekonomicznym i kryzysem zaufania. Omówiono elementy kreujące i destruktywne w procesie budowy zaufania w gospodarce. Przedstawiono konsekwencje wynikające z zachowań uczestników procesów ekonomicznych oraz relacje zachodzące pomiędzy statusem materialnym inwestorów, a akceptowaniem przez nich wyższego poziomu ryzyka i spadkiem zaufania do systemu ekonomicznego. Wskazano istotność...
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International trade and containerization - certain trends after the financial crisis of 2007-2008
PublicationThe following article presents the situation on international trade and the global maritime container transport market after the financial crisis of 2007-2008. In the first part the author focuses on describing the specifics of containerization in global trade. The following parts include characteristic of container terminal operators and shipping lines. Finally, significant changes in the global container handling market after...
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ICT-driven economic and financial development. Analyses of European countries
PublicationICT-Driven Economic and Financial Development: Analyses of European Countries demonstrates the effects of ICT diffusion on economic, social and financial development by examining their impact on the structure and dynamics of national economies. It provides the insight into shifts observed in labour markets, international trade activities productivity factors, education and use of innovative financial products. It combines empirical...
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Evaluation of the Macro- and Micro-Economic Factors Affecting the Financial Energy of Households
PublicationThis paper is an evaluation of the common macro-economic, micro-economic, and social factors affecting households’ financial situations. Moreover, the author’s objective was to develop a fuzzy logic model for forecasting fluctuations in the number of nonperforming consumer loans in a country using the example of Poland. This study represents one of the first attempts in the global literature to develop such a forecasting model...
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SOCIO-ECONOMIC MOTIVATIONS FOR PARTICIPATION IN FINANCIAL FRAUD IN THE INSURANCE SERVICES MARKET
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The effectiveness of financial and economic regulation of land relations in the context of stimulating entrepreneurial activity in the regions of Ukraine
PublicationSolving the problem of enhancing the efficiency of the financial and economic regulation of land relations contributes to the development of entrepreneurship in Ukraine. The purpose of the paper is to determine new incentives for encouraging entrepreneurial activity by increasing the efficiency of the financial and economic regulation of land relations by local governments. The study is based on applying the method for predicting...
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Journal of Financial Economic Policy
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Asian Economic and Financial Review
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Countries with the highest and the lowest electricity consumption per capita in 1998, kWh / c
Open Research DataFor several years, domestic electricity consumption has been growing (the average annual growth rate of electricity consumption for 2005-2010 is 2.75%). The increase in demand for electricity is related to the continuous development of the Polish economy, the enrichment of society and the growing, year by year, industrial production. It should be noted...
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Tax Policy Tools of Selected European Countries as a Mechanism for Counteracting the Effects of the Crisis Caused by the COVID-19 Disease Pandemic
PublicationCrises play an important role in a economics life. They are common and it is impossible to omit them. This following study investigates the concept of ‘crisis’ in the context of economic situation. This text describes the most important financial crises that took place in the past. After that authors passes on a detailed analysis of the actual corona-crisis and the way that it affects the economy globally. The main goal of this...
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FINANCIAL COMPARISON OF WESTERN BALKAN AND BALTIC SEA STATES USING THE CAMEL APPROACH
Publication• The aim - This article aims to compare the situation in the banking sectors of two regions, which due to their political and economic history have much in common. These are the Western Balkan States of Serbia, Croatia and Macedonia, and the Baltic Sea States of Lithuania, Estonia, and Latvia. • Methods - It presents three approaches to defining banking stability that can be found in the literature and carries out an initial...
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Błażej Prusak dr hab.
PeopleBłażej Prusak is Head of the Department of Finance at the Faculty of Management and Economics, Gdansk University of Technology and Editor-in-Chief of the journal Research on Enterprise in Modern Economy - theory and practice (REME), as well as a member of editorial boards of such journals as Intellectual Economics; Space. Economics. Society; Academy of Management. He is the author or co-author of several scientific monographs including:...
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Małgorzata Gawrycka dr hab.
PeopleMałgorzata Gawrycka, a graduate of the Faculty of Management at the University of Gdańsk, PhD in economics. From 2012-2020, deputy dean for teaching at the Faculty of Management and Economics of the Gdańsk University of Technology. Currently Dean of the Faculty. Scientific interests focus on issues related to the macroeconomic policy of the state. In particular, the problems of the situation on the labour market, demographic changes,...
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Una crisi diversa?
PublicationIl capitolo tratta della recente crisi finanziaria, analizzandone cause e conseguenze per il sistema bancario e finanziario mondiale
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SUICIDES FOR ECONOMIC REASONS AS A MEASURE OF THE STATE OF THE ECONOMY: THE CASE OF POLAND
PublicationSuicides are a phenomenon observed in many countries. The causes of a decision so drastic as far as consequences are concerned include i.a. economic reasons. The question arises whether the changing number of suicides reflects the state of the economy. The direct link between the state of the economy and suicides has not been sufficiently studied so far. The authors of this article attempted to identify the links between selected...
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L'Europa alla ricerca di una identità
PublicationIl capitolo tratta dell'economia europea dopo la riunficazione tedesca,, della nascita dell'Euro e delle cosneguenbze per il Continente della crisi economica e finanziaria
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Katarzyna Kubiszewska dr
PeopleKatarzyna Kubiszewska pracuje w Katedrze Finansów o 2008 r. i prowadzi zajęcia z finansów i bankowości. W pracy naukowej interesuje się transformacją systemów bankowych w regionie Europy Centralno - Wschodniej, ale także finansowaniem sektora kultury. Publikacje dotyczą dziedziny nauk społecznych w zakresie dyscypliny ekonomia i finanse. Od 2019 r. współpracuje z czasopismami takimi jak Economic Research-Ekonomska Istrazivanja,...
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TOWARD A FUZZY MODEL OF POLISH INTERNET MORTGAGE MARKET
PublicationThis article presents our continuing efforts to develop a model of the Internet-based mortgage market in Poland. It sums up modeling research done over the last 4 years, also showing the stages and the process of building and verifying the proposed model consisting of three submodels. The submodels are described for three market situations; that is, a stable market, financial crisis, and economic boom. The proposed model variables...
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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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The Energy of Finance in Refining of Medical Surge Capacity
PublicationThe availability of resources and their concentration in the place of greatest need, will not allow us to successfully overcome a medical surge without the energy required to activate these resources and activities, and increase their quantities if necessary, that is why the staff and management of healthcare institutions are forced to making ethical crisis decisions about who wins and who loses. This study highlights the versatility...
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THE ASSESSMENT OF THE SITUATION IN BANKING SECTORS IN SELECTED EUROPEAN COUNTRIES
PublicationThe economic significance of the banking sector is well recognized in the theory and practice. In the literature there are discussed various topics concerning banking: banking sectors stability and its determinants, as well as influence of the banking sector on other sectors of the economy. Moreover the situation in the banking sector has been studied from different perspectives: its stability, profitability, efficiency, competition,...
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Improving the regulation of the derivatives market as an objective prerequisite for sustainable development of the global financial system
PublicationThe development of financial markets is characterized by the emergence of new financial instruments, in particular derivatives, the risk level analysis of which is complicated. Counterparties are not always fully aware of and do not adequately assess the potential risks of derivatives, which may lead to large financial losses and sometimes bankruptcies. The purpose of the study is to generalize approaches to regulating derivative...
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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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Financial Analysis exercises - New
e-Learning CoursesTo obtain theoretical and practical experience of financial and economic analysis. Methods of economic analysis: Elements of production and human resources analysis, tangible assets analysis, inventory analysis, which would enable to understand the business case, to measure them and find suitable decision. To obtain theoretical and practical experience of financial analysis.
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Tomasz Korol dr hab. inż.
PeopleEducation Gdańsk University of Technology, Faculty of Management and Economics (2001) University of Applied Sciences Stralsund (1999) Degree / scientific title Habilitation – Gdańsk University of Technology, Faculty of Management and Economics (2015) Ph.D. – Gdańsk University of Technology, Faculty of Management and Economics (2004) Employment Gdańsk University of Technology - associate professor (since 2017); assistant professor...
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Financial Analysis exercises - New (copy)
e-Learning CoursesTo obtain theoretical and practical experience of financial and economic analysis. Methods of economic analysis: Elements of production and human resources analysis, tangible assets analysis, inventory analysis, which would enable to understand the business case, to measure them and find suitable decision. To obtain theoretical and practical experience of financial analysis.
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Predicting bankruptcy with the use of macroeconomic variables
PublicationRegarding the current global financial crisis, the firms can expect the increased uncertainty of their existence. The relevant literature includes extensive studies on bankruptcy prediction. Studies show that the most popular method used for prediction of firms' failures are discriminant analyses (30,3% of all models), then logit and probit models (21,3%), which all three are parametric models. The nature, the structure of the...
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Innovative activity of SMEs In Poland
PublicationInnovative activity of enterprises is determined by many factors. On one hand, these are external factors creating a sort of innovative climate in the economy, on the other hand - there are many internal factors stimulating or reducing the intensity of innovative activities. What influences the innovativeness of enterprises is the effectiveness of the system supporting innovations, which was stated by for example Pyciński and Żołnierski...
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Knowledge Management for Managing Crisis in Tourism: Theoretical insights
PublicationCOVID-19 has caused an unprecedented crisis affecting the entire tourism industry. Accommodation, food, and travel sectors have been affected by the decreased number of visitors, which had a ripple effect on the financial situation of the whole industry. The purpose of this work is a better understanding of the role of knowledge management in terms of mitigating the crisis in the tourism sector, as well as a development of the...
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INWESTYCJE A ZATRUDNIENIE W POLSCE W PERSPEKTYWIE FINANSOWE 2007-2013
PublicationNakłady inwestycyjne przedsiębiorstw traktowane są jako jeden z głównych czynników wzrostu gospodarczego. Ich wielkość i dynamika mogą mieć wpływ na zmiany w poziomie zatrudnienia. Światowy kryzys finansowy przyczynił się do spowolnienia dynamiki wzrostu oraz gwałtownego spadku w 2009 roku PKB w większości gospodarek świata. We wspomnianym okresie w Polsce zaobserwowano spowolnienie gospodarcze, które miało wpływ na decyzje...
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Piotr Paradowski dr
PeopleDr Piotr Paradowski's areas of expertise in quantitative social science methods include truncated and censored models, quantile regressions, survival analysis, panel data models, discrete regressions and qualitative choice models, instrumental variable estimation, and hierarchical modeling. He is also an expert in statistical matching and statistical methods to handle missing data. In addition, he conducts research on income and...
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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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Annual growth of House price index in European Union in 2006-2017
Open Research DataThe financial crisis of 2008 has caused a number of changes in the investment of both companies and individuals. One of the widely invested assets became the real estate market. The decline in real estate prices was noted in 2009 and 2012-2014. The highest decrease in property prices was indicated in Bulgaria, Ireland, Lithuania, Latvia, Slovakia and...
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Anna Rzeczycka dr hab.
PeopleAnna Rzeczycka is the deputy head of the Department of Finance at the Faculty of Economics and Management of the Gdańsk University of Technology. Publications are situated in the field of social sciences in the discipline of economics and finance. They include books, monographs, articles, publications and scientific editions of monographs and scientific journals. In terms of numbers, it includes the following items: 12 monographs...
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The UK's banking system as financial hub for Islamic banking
PublicationThis paper examines the phenomenon of London as "the Islamic banking hub". It contends that London has become not only an international centre for Islamic finance, but also that there is big interest and demand for Islamic banking products. The authors are also positive that Islamic banking may be a certain solution for the problems that Europe has been suffering since 2007 when the global debt crisis started. Our intention is...
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Marta Kuc-Czarnecka dr
PeopleMarta Kuc-Czarnecka is the deputy head of the Department of Statistics and Economics at the Faculty of Management and Economics of the Gdańsk University of Technology. She also serves as the Dean's proxy for AMBA accreditation. She is a co-founder of Rethinking Economics Gdańsk and a member of the Foundation Edward Lipiński for the promotion of pluralism in economic sciences. In 2018-2022, she was Eurofound’s quality of life and...
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Public Finance in Poland in a COVID Fog: A Look Through the Lens of Fiscal Transparency and Accountability
PublicationAbstract. Goal– The aim of the article is to identify dysfunctional phenomena (implementation of specific mechanisms/solutions and actions taken), generating increased opacity and limit the responsibility/accountability of public f inance in Poland, exacerbated by the COVID-19 crisis. Methods– descriptive analysis, comparative analysis and financial analysis methods were used. Results– fiscal transparency and accountability in...
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Difficulties in financing innovation - research results
Open Research DataThe SME sector determines the strength of the Polish economy, still faces many barriers in running a business, they can be social and market barriers, for example: financial barriers, low employee mobility, or limited access to financing sources: legal barriers that result from economic policy difficult for the sector, or conservative economic policy.
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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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Wojciech Wyrzykowski dr hab.
PeopleWojciech Wyrzykowski is an employee of the Department of Finance at the Faculty of Management and Economics of the Gdańsk University of Technology. He is the author of 70 scientific publications, including 5 monographs, and co-author of 7 monographs. The most important of them reflecting the author's scientific interests include: Tax conditions for the development of entrepreneurship in Poland, Taxes in Poland - outline of the...
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Michał Bernard Pietrzak dr hab.
PeopleMichal Pietrzak is head of the Department of Statistics and Econometrics at the Faculty of Economics and Management, Gdańsk University of Technology, and Deputy Editor-in-Chief for Statistical Reviewing of the journals: Oeconomia Copernicana and Equilibrium. Quarterly Journal of Economics and Economic Policy. Until October 2021, he worked as an associate professor at the Faculty of Economic Sciences and Management, Nicolaus...
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COMPLEXITY OF INNOVATIVE FINANCIAL PRODUCTS: THE CASE OF SYNTHETIC EXCHANGE TRADED FUNDS IN EUROPE
PublicationThe aim of the text is the presentation of the most important categories of exchange traded funds (ETFs) – physical and synthetic ones. A theoretical part of the text includes an overview of the main features of ETFs, the presentation of differences between physical and synthetic funds and the main risks posed by both types to their users and the whole financial systems. An empirical part focuses on the European market. Time span...
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Oleksandr Melnychenko dr hab.
PeopleOleksandr Melnychenko works as a professor in a group of research and teaching staff at the Department of Finance of the Faculty of Management and Economics, the Gdańsk University of Technology; is a sworn translator of the Ukrainian language in Poland; an entrepreneur with many years of experience in running his own business and managing the companies' finances; has experience working in a commercial bank in a position dealing...
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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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Should Polish banks be domesticated?
PublicationThe financial crisis revealed vulnerabilities in the regulation and supervision of the banking system. The overarching goal of the proposal (Bazylea III and CRD IV) is to strengthen the resilience of the EU banking sector. The effects of these regulations will be detrimental to the Polish banking system and economy. This follows from the fact that listed banks in Poland are subsidiaries of international banking groups. The article...
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Comparison of Poland, Germany and the European average using the components of the summary innovation index
Open Research DataThe analysis presents a comparison of the innovation policies of Poland and Germany using all the indicators included in the Summary Innovation Index (SII), then the obtained results were analyzed and conclusions were formulated.The indicators are divided into three main categories, each group of indicators shows a different aspect of the innovativeness...
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Cities that obtain the highest revenues from PIT in 2021 in PLN billion
Open Research DataTax issues play an important role in the economy of each country, its citizens and economic entities that operate on the market. Taxes are the main instrument of the state's influence on the economy, as they cover almost all natural and legal persons that operate on the market.
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Share of gross value added generated by enterprises in GDP
Open Research DataAfter Poland joined the group of countries associated in the European Union and through participation in numerous economic and political organizations (including the World Trade Organization, OECD), as well as the commencement of trade exchange with virtually all countries of the world, Polish entrepreneurs and managers struggle with completely problems...
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The number of active enterprises in Poland in 1997-2014
Open Research DataAfter Poland joined the group of countries associated in the European Union and through participation in numerous economic and political organizations (including the World Trade Organization, OECD), as well as the commencement of trade exchange with virtually all countries of the world, Polish entrepreneurs and managers struggle with completely problems...
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Sopot - is it possible to retain the unique image of the city?
PublicationSopot is the best-known seaside resort in Poland. The city is unique with regard not only to its location and natural values, but also its interesting architecture, which dates back to the end of the 19th and the beginning of the 20th century. The relic of that era is the largest in the country number of buildings characteristic for the Northern European seaside resorts. The architecture of historic Sopot is dominated by eclectic...
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The structure of revenues of non-public universities in 2010 from didactic activity by sources of financing (in%)
Open Research DataIncome from teaching activities of non-public universities accounted for almost 1/5 of income from teaching activities of all types of universities. Non-public universities generated the highest revenues from fees for teaching classes, which accounted for over half of the revenues from this title in relation to all universities.The average cost of education...
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The level of VAT in relation to the GDP of selected European Union countries in 2007-2015 (in%)
Open Research DataVAT (Value Added Tax) is part of a strictly harmonized tax within the European Union. Under the so-called The Sixth Directive introduced provisions regulating the subject and subject of taxation, tax exemptions and exclusions as well as the tax collection mechanism in all Member States.
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Maria Jastrzębska dr hab.
PeopleMaria Jastrzębska is an employee of the Department of Finance. She is the author of over 170 publications, including 8 monographs - Financial Management of Municipalities. Theoretical aspects; Budgetary policy of local government units; Debt management of local government units; Finances of local government units; Risk management in the activity of local government units with special consideration of catastrophic risk (co-author...
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A fuzzy logic model for forecasting exchange rates
PublicationThis article is devoted to the issue of forecasting exchange rates. The objective of the conducted research is to develop a predictive model with the use of an innovative methodology - fuzzy logic theory - and to evaluate its effectiveness in times of prosperity and during the financial crisis. The model is based on sets of rules written by the author in the form of IF-THEN, where expert knowledge is stored. This model is the result...
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Price bubbles in commodity market – A single time series and panel data analysis
PublicationThis paper examines thirty-five commodities, grouped into three market sectors (energy, metals, agriculture & livestock) in terms of the occurrence of price bubbles. The study was based on monthly data for each commodity separately and, in a panel approach, for selected sectors and for all commodities combined. The GSADF test and its version for panel data – panel GSADF – were used to identify bubbles. The beginning and end of...
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THE PROBLEM OF THE BANKING SYSTEM STABILITY IN THE LITERATURE
PublicationThe article is an overview of the literature output in the field of banking sector stability. In the literature a plethora of definitions of the term may be encountered. There is no universal definition of the term. Therefore, the article proposes a unique division of the existing explanations into the following groups: stability determined by the quality of the banking sector, stability in terms of its influence on the macroeconomic...
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Share of the wage factor in national income – selected aspects
PublicationThe aim of this study is to examine changes in the share of the wage factor in national income, in selected EU countries against labour productivity and investment rates reflecting changes in capital-labour relations, indicated by researchers as determinants of change of the share of the wage factor in national income. The scope of the study includes a review of literature devoted to the issue of wage factor share in national income...
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Marcin Potrykus dr inż.
PeopleA graduate of the Faculty of Management and Economics at the Gdańsk University of Technology. Since 2008, he has been employed as an Assistant at the Department of Finance at the Faculty of Management and Economics of the Gdańsk University of Technology. In 2015, he defended (in the discipline of economics) his doctoral dissertation entitled "Alternative investments - profitability and risk". Since 2016, he has been employed as...
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Kształtowanie wartości wskaźników płynności finansowej przez ponadprzeciętnie rentowne MSP w okresie dobrej i złej koniunktury gospodarczej
Publication: W artykule porównano kształtowanie wartości wskaźników z obszaru płynności finansowej przez ponadprzeciętnie rentowne MSP w okresie dobrej i złej koniunktury gospodarczej. Celem przeprowadzonych badań było ponadto zaproponowanie przedziałów wartości rekomendowanych dla wskaźników z obszaru płynności finansowej z osobna dla okresu dobrej, jak i złej koniunktury gospodarczej. W trakcie przeprowadzonych badań uwzględniono 67 317...
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Kształtowanie wartości wskaźników wspomagania finan-sowego przez ponadprzeciętnie rentowne MSP w okresie dobrej i złej koniunktury gospodarczej
PublicationW artykule porównano kształtowanie wartości wskaźników z obszaru wspomagania finansowego przez ponadprzeciętnie rentowne MSP w okresie dobrej i złej koniunktury gospodarczej. Celem przeprowadzonych badań było ponadto zaproponowanie przedziałów wartości rekomendowanych dla wskaźników z obszaru wspomagania finansowego, z osobna dla okresu dobrej jak i złej koniunktury gospodarczej. W trakcie przepro-wadzonych badań uwzględniono...
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Aneta Sobiechowska-Ziegert dr
PeopleShe works at the Department of Statistics and Econometrics at the Faculty of Management and Economics. She is passionate about using modern teaching methods in quantitative subjects. She is a certified coach and tutor. She teaches courses in economic forecasting and spatial econometrics. She is also the chair of the Faculty's Quality of Education Committee and oversees the EMOS education track, certified by Eurostat. Currently,...
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Sztuczne sieci neuronowe oraz metoda wektorów wspierających w bankowych systemach informatycznych
PublicationW artykule zaprezentowano wybrane metod sztucznej inteligencji do zwiększania efektywności bankowych systemów informatycznych. Wykorzystanie metody wektorów wspierających czy sztucznych sieci neuronowych w połączeniu z nowoczesną technologią mikroprocesorową umożliwia znaczący wzrost konkurencyjności banku poprzez dodanie nowych funkcjonalności. W rezultacie możliwe jest także złagodzenie skutków kryzysu finansowego.
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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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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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Jarosław Ziętarski dr
PeopleJarosław Ziętarski is a lecturer (PhD) in the Department of Finance at the Faculty of Management and Economics of the Gdańsk University of Technology. He has his own channel on the youtube platform called "FAT CAT Financial Education" where he popularizes knowledge in the field of management accounting. He was on the organizing committee of the 28th Annual Multinational Finance Society Conference. Courses taught: Introduction...
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Aleksandra Parteka dr hab. inż.
PeopleAbout me: I am an associate professor and head of doctoral studies at the Faculty of Management and Economics, Gdansk University of Technology (GdanskTech, Poland). I got my MSc degree in Economics from Gdansk University of Technology (2003) and Universita’ Politecnica delle Marche (2005), as well as MA degree in Contemporary European Studies from Sussex University (2006, with distinction). I received my PhD in Economics...
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Błażej Kochański dr
PeopleBłażej Kochański is an assistant professor at the Department of Statistics and Econometrics at the Faculty of Management and Economics of Gdańsk University of Technology, banking risk expert. He worked for banks in Poland and Europe, as a risk specialist, planning and analysis manager, chief risk officer, supervisory board member and management consultant. He built numerous credit risk management models, successfully managed credit...
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Global Trends 2022
e-Learning CoursesThe course reflects on the different models of capitalism, starting with the debate on "Varieties of capitalism". It will deal with the relationships between historical dimension, juridical and economic cultures, institutions, financial markets and ownership structures in today's world economy. The aim of the course is trying to give an answer to a couple of very simple questions: why economic systems react in a different way...
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The transformation of the Chinese stock market between 1990 and 2012
PublicationThe main purpose of this paper is to examine the transformation of the stock market in the People’s Republic of China (i.e. concentrated on stock exchanges in Shanghai and Shenzhen; the stock exchange in Hong Kong was omitted) from its beginnings in the early 1990s, through rapid development over the next two decades, up to the financial crisis of 2008 (the period examined is 1990–2012). The paper presents a short history of the...
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Wykluczenie finansowe starszych konsumentów na rynku usług finansowych
PublicationCelem opracowania jest identyfikacja uwarunkowań wykluczenia finansowego starszych konsumentów na rynku usług finansowych. Dla realizacji tego celu zidentyfikowano m.in. podstawowe pojęcia dotyczące wykluczenia (w tym wykluczenia finansowego) osób starszych. Zagrożenia wynikające z wykluczenia finansowego starszych konsumentów zostały zilustrowane poprzez analizę danych statystycznych dotyczących starzenia się społeczeństwa. Podstawowy...
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ZRÓŻNICOWANIE PŁYNNOŚCI FINANSOWEJ W ZALEŻNOŚCI OD WIELKOŚCI PRZEDSIĘBIORSTWA
PublicationW artykule przedstawiono różnice w sposobie kształtowania wartości wskaźników z obszaru płynności finansowej pomiędzy małymi, średnimi i dużymi przedsiębiorstwami. W trakcie przeprowadzonych badań uwzględniono 97 471 sprawozdań finansowych przedsiębiorstw, prowadzących działalność gospodarczą w 12 różnych działach polskiej gospodarki narodowej. Do potwierdzenia zróżnicowania płynności finansowej w zależności od wielkości przedsiębiorstwa...
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Consumer Bankruptcy Prediction Using Balanced and Imbalanced Data
PublicationThis paper examines the usefulness of logit regression in forecasting the consumer bankruptcy of households using an imbalanced dataset. The research on consumer bankruptcy prediction is of paramount importance as it aims to build statistical models that can identify consumers in a difficult financial situation that may lead to consumer bankruptcy. In the face of the current global pandemic crisis, the future of household finances...
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Krystian Zawadzki dr hab. inż.
PeopleKrystian Zawadzki is associate professor in the Department of Finance at the Faculty of Management and Economics of the Gdańsk University of Technology; member of the Polish Olympic Academy at the Polish Olympic Committee; coordinator of the Stock Exchange School (Warsaw Stock Exchange) in Gdańsk; Head of postgraduate studies "Capital Investments and Personal Finance Management"; member of the audit committee of the sports club...
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Kształtowanie wartości wskaźników płynności finansowej przez przedsiębiorstwa z sektora MSP w zależności od osiąganej rentowności aktywów
PublicationW artykule przedstawiono różnice w sposobie kształtowania wartości wskaźników z obszaru płynności finansowej pomiędzy przedsiębiorstwami z sektora MSP w zależności od osiąganego przez nie poziomu rentowności aktywów. W trakcie przeprowadzonych badań uwzględniono 109 174 sprawozdania finansowe przedsiębiorstw, prowadzących działalność gospodarczą w 27 różnych działach gospodarki narodowej. Do potwierdzenia zróżnicowania płynności...
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TQM tools in crisis management
PublicationThe current article is concerned with basic aspects connected with improvement of crisis management activities employed by economic operators. The work presents the crisis management model with its fundamental phases and identifies TQM tools that might be applied in all of these phases. The analysis included in the work has been supported with research conducted on companies located in northern Poland
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20+ years of Polish residential real estate prices – a house price index proxy
PublicationInformation on house prices is often considered crucial when assessing developments in economy. However, in Poland for the long time house prices haven’t been tracked in an organized manner. Recent developments, most notably house price indices developed by Poland’s national bank and by the statistical office do not go back more than 10 years, therefore data series are relatively short compared to those of other macroeconomic data. In...
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Systemowe ryzyko płynności w polskim systemie bankowym – determinanty i trendy
PublicationCelem rozprawy jest określenie metod pomiaru systemowego ryzyka płynności oraz pomiar tego ryzyka dla polskiego systemu bankowego za pomocą zaproponowanych metod, w oparciu o dostępne dane. Do celów rozprawy zaliczyć należy również przedstawienie problemu systemowego ryzyka płynności od strony jego wpływu na gospodarkę. Zgodnie z hipotezą główną, systemowe ryzyko płynności w polskim systemie bankowym w latach 1996-2012 wzrosło....
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Kształtowanie wartości wskaźników wspomagania finansowego przez przedsiębiorstwa z sektora MSP w zależności od osiąganej rentowności aktywów
PublicationW artykule przedstawiono różnice w sposobie kształtowania wartości wskaźników z obszaru wspomagania finansowego pomiędzy przedsiębiorstwami z sektora MSP w zależności od osiąganego przez nie poziomu rentowności aktywów. W trakcie przeprowadzonych badań uwzględniono 109 174 sprawozdania finansowe przedsiębiorstw, prowadzących działalność gospodarczą w 27 różnych działach gospodarki narodowej. Do potwierdzenia zróżnicowania wspomagania...
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Is Artificial Intelligence Ready to Assess an Enterprise’s Financial Security?
PublicationThis study contributes to the literature on financial security by highlighting the relevance of the perceptions and resulting professional judgment of stakeholders. Assessing a company’s financial security using only economic indicators—as suggested in the existing literature—would be inaccurate when undertaking a comprehensive study of financial security. Specifically, indices and indicators based on financial or managerial reporting...
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ASSESSMENT OF FINANCIAL SECURITY OF AN ENTERPRISE ON THE BASIS OF BEHAVIORAL ECONOMICS
PublicationThe article substantiates that the level of company’s financial security depends not so much on the indicators of its activity, but on its perception of decision-makers and other stakeholders. At the same time, this perception is formed due to the continuous participation of the stakeholder in operations, constant monitoring of financial indicators, the study of current approaches to enterprise management, changes in the environment,...
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ZRÓŻNICOWANIE STRUKTURY KAPITAŁOWO-MAJĄTKOWEJ W ZALEŻNOŚCI OD WIELKOŚCI PRZEDSIĘBIORSTWA
PublicationW artykule przedstawiono różnice w kształtowaniu struktury kapitałowo-majątkowej pomiędzy małymi, średnimi i dużymi przedsiębiorstwami. W trakcie przeprowadzonych badań uwzględniono 97 471 sprawozdań finansowych przedsiębiorstw, prowadzących działalność gospodarczą w 12 różnych działach polskiej gospodarki narodowej. Do potwierdzenia zróżnicowania struktury kapitałowo-majątkowej w zależności od wielkości przedsiębiorstwa wykorzystano...
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Postawy osób starszych wobec tradycyjnych i innowacyjnych kanałów dystrybucji usług finansowych
PublicationRosnący udział osób starszych w strukturze populacji stawia nowe wyzwania przed przedsiębiorstwami oferującymi produkty do nich skierowane. Przykładem takich produktów są usługi finansowe. Przedmiotem niniejszego tekstu są usługi ubezpieczeniowe i bankowe oferowane osobom starszym z wykorzystaniem tradycyjnych i nowoczesnych kanałów dystrybucji. Na podstawie przeglądu literatury sformułowano dwie hipotezy badawcze: H1: Cechy społeczno-demograficzne...
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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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Impact of Innovative Financial Products on Financial Systems: Exchange Traded Products and the Polish Financial System
PublicationExchange Traded Products (ETPs) are one of the most recent and most rapidly developing financial products. As their assets grow they have an increasing impact on financial systems in many countries, including USA, UK or Japan. Development of ETPs is linked with many opportunities and threats for the local financial systems. Their correct assessment is becoming more difficult due to the growing complexity of the available products,...
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Healthy financial system of local government on the example of Poland
Publicationhealthy local government financial system lays the foundation for the ability of local government units (LGUs) to carry out public tasks at the current qualitative and quantitative level and to meet their obligations in the short and long term. A healthy financial system of local government is a system that is adequate, stable, unified, consistent, transparent, diversified, counter-cyclical, guarantees the financial independence...
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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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Wyznaczanie stref efektywności kanałów dystrybucji na przykładzie wybranego producenta artykułów
PublicationWybór kanału dystrybucji zalicza się do decyzji strategicznych, ponieważ pod uwagę należy wziąć zarówno aspekty ekonomiczne, jak i te, które są związane z obsługą klienta. We współczesnych kanałach dystrybucji, które cechuje duża różnorodność wynikająca ze sposobu przepływu towarów z miejsca ich produkcji do miejsca konsumpcji, istotne znaczenie będzie miał sprawny i szybki przepływ strumieni finansowych, materiałowych i informacyjnych....
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ECONOMIC MEASURES AGAINST A PANDEMICS
PublicationThe appropriate level of treatment during periods of increasing workload in the health care system or a particular hospital is ensured either by changing the organization of the system and the principles of use of resources such as space, staff and consumables or their redistribution, or by financial resources such resources are increased or replenished. This article contributes to improve the concept of resource allocation as...
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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...
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Reshaping financial systems: The role of ICT in the diffusion of financial innovations – Recent evidence from European countries
PublicationExchange-traded funds (ETFs) are among the fastest-growing types of innovative financial products. The emergence and spread of these instruments have been facilitated by the digital revolution. Information and communication technology (ICT) is profoundly reshaping the global economic landscape, laying solid foundations for unrestricted and unbounded flows of information and knowledge, eliminating information asymmetries, and furthering...
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Financial aspects of supporting Ukrainian refugees
PublicationWarfare in Ukraine meant that in 2022 many countries, including Poland and other European, focused mainly on helping refugees from Ukraine and humanitarian transports. The assistance took on various forms - from basic humanitarian support, through in-kind help, financial and military assistance. Poland launched its humanitarian aid in the first days of the conflict. The aid provided by each country varies. It should be noted, however,...
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The Implementation of Fuzzy Logic in Forecasting Financial Ratios
PublicationThis paper is devoted to the issue of forecasting financial ratios. The objective of the conducted research is to develop a predictive model with the use of an innovative methodology, i.e., fuzzy logic theory, and to evaluate its effectiveness. Fuzzy logic has been widely used in machinery, robotics and industrial engineering. This paper introduces the use of fuzzy logic for the financial analysis of enterprises. While many current...
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Wielokryterialne Wspomaganie decyzji środowiskowych przy wydobywaniu węglowodorów z formacji łupkowych
PublicationPoszukiwanie i eksploatacja gazu z formacji łupkowych wymaga zidentyfikowania i uwzględnienia wielu czynników i uwarunkowań geologiczno-górniczych, ekonomiczno-finansowych, prawnych oraz szeroko rozumianych aspektów przestrzenno-środowiskowych. Poruszane zagadnienia prowadzą do zidentyfikowania problemów decyzyjnych, które mogą pojawiać się przy eksploatacji gazu z łupków, a które wiążą się z intensywnym korzystaniem z zasobów...
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Zróżnicowanie zadłużenia w zależności od wielkości przedsiębiorstwa
PublicationW artykule przedstawiono różnice w sposobie kształtowania wartości wskaźników z obszaru zadłużenia pomiędzy małymi, średnimi i dużymi przedsiębiorstwami. W trakcie przeprowadzonych badań uwzględniono 97 471 sprawozdań finansowych przedsiębiorstw, prowadzących działalność gospodarczą w 12 różnych działach polskiej gospodarki narodowej. Do potwierdzenia zróżnicowania zadłużenia w zależności od wielkości przedsiębiorstwa wykorzystano...
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The Crisis of Marketing Communication in the Era of Social Media
PublicationThe articles examines the widely discussed in literature the problem of marketing communication crisis resulting from the changes of the environment. These changes generate both new problems and also new solutions, e.g. social media. The practicioners are pursuing both effective and efficient solutions, in relation to the difficulties encountered while achieving market objectives via traditional methods and channels. In accordance...
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Economic Situation in Balkan Countries in the First Decade of 21st Century
PublicationThe recent economic crisis affected most of the countries in the world to a greater or lesser extent, including small economies sector. Small economies are a distinctive group of countries distinguished by particular qualities. They are dependent on trade exchange or international investment stream, and both their aggregate demand and supply, and price level depend on the development of the big economies dynamics. This is the reason...
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State Interventionism in Tax System - Example of Action in a COVID-19 Crisis
PublicationThe following article presents and classifies changes in tax systems of selected countries as well as counts them as the response to the emergence of the crisis caused by the COVID-19 pandemic. Such actions were undertaken the context of state interventionism in the tax system. In order to achieve the objective of presenting the state interventionism in the context of tax rates, an analysis of the literature on the phenomenon described,...