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Search results for: FINANCIAL MARKET
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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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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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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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Simulation of the Dynamics of Renewable Energy Sources with Energy Storage Systems
PublicationThe intermittency of renewable energy sources (RES) constitutes a challenge for effective power system control. Fossil-fuel-based units offering ancillary power services to meet the short-term power imbalance are a financial and environmental burden for the society. Energy storage systems (ESS) can be the solution in view of the electricity market development and growing environmental concern. The major questions are, in what circumstances...
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Piotr Figura dr inż.
PeoplePiotr Figura is employed as an assistant professor at the Department of Finance at the Faculty of Management and Economics, Gdansk University of Technology. He is a member of Commission for the Verification of Learning Outcomes, as well as an academic reviewer of the Central Exemination Booard. He is the author or co-author of several scientific monographs including: Standard financial indicators for stock enterprises; Classical...
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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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Structure of the US investment company industry over the period 2000 to 2017: substitution analysis
PublicationOver the last years the investment company industry has undergone deep transformation in the majority of the most advanced economies, including the United States. Traditional investment companies, such as mutual funds, have lost their market share to innovative exchange-traded funds (ETFs). The main distinctive features of ETFs are listing and trading in their units on the stock exchanges as well as lower costs for investors. The...
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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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Innowacje w działalności marketingowej instytucji finansowych na rynku polskim
PublicationW artykule przedstawiono istotę innowacji w usługach finansowych. Na podstawie danych statystycznych dokonano analizy poziomu innowacyjności instytucji finansowych z uwzględnieniem zróżnicowania podmiotowego oraz ze względu na rodzaje innowacji. Szczególną uwagę zwrócono na innowacje marketingowe jako wpływające w sposób bezpośredni na działalność marketingową instytucji finansowych. Przedstawiono podstawowe kategorie innowacji...
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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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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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The influence of climate change on the life insurance in the EU: A panel data approach
PublicationThe financial sector, as one of the most sensitive economic sectors, is alert to all trends and changes in the environment. The aim of the article is to study the impact of climate change on the life insurance market using panel data from 28 countries of the European Union (EU) for the last 9 years. This study is based on a panel model, where the amount of premiums under life insurance contracts is defined as a function of the...
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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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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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PREDICTING CORPORATE BANKRUPTCIES IN POLAND AND LITHUANIA – COMPARATIVE ANALYSIS
PublicationThe research on predicting bankruptcies of enterprises constitutes one of the most important areas of financial management. In developed countries, the first publications on the subject appeared in the early 20th century. The situation is different in the countries of Eastern Europe, which introduced the market system already at the beginning of the 1990s, which resulted in first corporate bankruptcies. The article...
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Exchange-traded products in Germany: development and substitution of exchange-traded funds, exchange-traded commodities and exchange-traded notes.
PublicationResearch background: Exchange-traded products (ETPs) are one of the most rapidly growing categories of financial products. Their fast development has been boosted by innovative features. Three main categories of ETPs are exchange-traded funds (ETFs), exchange-traded commodities (ETCs) and exchange-traded notes (ETNs). ETCs and ETNs remain least known, even though their number on some stock exchanges is high. In Europe, Germany...
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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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Programmes to Combat the Economic Impact of the COVID-19 Pandemic in Kazakhstan and Ukraine and Unemployment
PublicationThe following article presents economic programmes to combat the negative effects of the COVID-19 pandemic. The analysed programmes were undertaken by the governments of Ukraine and Kazakhstan. They contributed to reducing unemployment in both countries. The findings of Ukrainian researchers focused mainly on estimating losses in the SME sector, especially in the hotel, tourism and transport sectors. Scientific literature in Kazakhstan...
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Biznesplan dla zakładu podstawowej opieki zdrowotnej o rozszerzonej działalności na obszarze dzielnicy Gdańsk-Południe
PublicationIn recent years we have seen the dynamic development of medical services sector in Poland. Private health centres focus on aggressive development strategy. The role of primaryhealth care facilities, which provide services financed from the public funds, declined.The purpose of the article is to present methods of strategic planning which allow toopen new healthcare entity. The next purpose is to make in practice...
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Innowacje jako wyzwanie dla działań marketingowych banków komercyjnych
PublicationW referacie przedstawiona została istota innowacji w funkcjonowaniu banków komercyjnych na rynku polskim. Na podstawie danych statystycznych przeprowadzona została analiza poziomu innowacyjności banków i innych instytucji finansowych z uwzględnieniem zróżnicowania podmiotowego oraz ze względu na rodzaje innowacji. W pracy zidentyfikowane zostały również podstawowe grupy czynników wpływających na innowacje i związane z nimi działania...
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Economic significance of initial public offerings in China and India
PublicationRapid economic growth in China and India has attracted attention of many researchers, focusing on various social and economic factors underlying the success of these countries. One of the key components of country’s economy is financial system which consists of segments such as banking sector and equity market. The topic of initial public offerings (IPOs), one of the corporate financing sources, involving raising funds through...
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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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CSR – A FASHION OR REAL COMMITMENT? THE CASE OF POLISH LISTED COMPANIES
PublicationThis article, without claiming to be the ultimate reference, aims at assessing the social commitment of the large and solid financially, listed on the Warsaw Stock Exchange (WSE), Polish companies, on the eve of the implementation of the EU directive on disclosure of non-financial and diversity information (2014/95/EU). The selected companies seem perfect to form a vanguard of CSR in Poland, but the results of the analysis indicate...
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Zachowania seniorów z Polski Północnej na rynku usług finansowych w świetle wyników badań
PublicationPrzedmiotem zainteresowania badawczego w niniejszym tekście są usługi finansowe oraz zachowania starszych konsumentów na rynku usług bankowych, ubezpieczeniowych itp. Podstawowym celem rozważań jest zidentyfikowanie kluczowych zmiennych społeczno-demograficznych wpływających na zakup usług finansowych przez osoby w wieku 50+. W pracy zastosowano przede wszystkim analizę literatury oraz analizę wyników uzyskanych za pomocą kwestionariusza ankietowego...
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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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Innowacyjność instytucji finansowych w Polsce – perspektywy rozwoju
PublicationUsługi finansowe będące coraz ważniejszą częścią gospodarki w krajach rozwiniętych, w dużym stopniu absorbują innowacje, stając się jednocześnie ważnymi podmiotami tworzącymi innowacje w obszarze zmian marketingowych i organizacyjnych. W artykule przedstawiono istotę innowacji w usługach finansowych. Przedstawiono podstawowe kategorie innowacji stosowanych w usługach finansowych. Na podstawie danych statystycznych dokonano analizy...
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Sektorowe zróżnicowanie płynności finansowej przed-siębiorstw
PublicationPłynność finansowa warunkuje prawidłowość funkcjonowania całej firmy. Uzależniona jest od niej możliwość przetrwania przedsiębiorstwa na rynku oraz perspektywa jego rozwoju. Artykuł podejmuje tematykę zróżnicowania płynności finansowej przedsiębiorstw w zależności od ich przynależności sek-torowej. Z przeprowadzonych badań wynika, że wartość wskaźników z obsza-ru płynności finansowej jest silnie zróżnicowana w przekroju sektorowym....
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Directions of Energy Transition of Uzbekistan
PublicationThe aim of the paper is to present the changes in the Uzbekistan energy market over the past few years. Uzbekistan is self-sufficient in terms of energy resources, the exploitation of which will last for many years. In 2019, the government adopted the "Concept Note ensuring electricity supply in Uzbekistan in 2020-2030" strategy, which announced the modernization of gas and coal power plants and the construction of new energy facilities,...
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Hidden Champions of Poland
PublicationPoland is a country with a strong entrepreneurial spirit. The hidden champions’ performance has been closely related to political and economic changes: the fall of communism in 1989 and the transition from a centrally planned economy to a market economy. This led to the emergence of small private businesses focused on the domestic market. The accession to the European Union in 2004 created new perspectives for the hidden champions’...
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The Response of Selected Domestic Capital Markets on the Development of COVID-19 Pandemic – a Broader View
PublicationObjective: The study examines how the record of the first, hundredth, thousandth, ten-thousandth, one-hundred-thousandth, and millionth cases of COVID-19 affected investor behaviour in capital markets. It also looks at whether the month in which the first case was recorded in a given market affected the direction and strength of investor reactions. Lastly, it verifies whether the two announcements made by the WHO related to COVID-19...
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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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Economics of credit scoring management
PublicationCredit scoring models constitute an inevitable element of modern risk and profitability management in retail financial lending institutions. Quality,or separation power of a credit scoring model is usually assessed with the Gini coefficient. Generally, the higher Gini coefficient the better, as in this way a bank can increase number of good customers and/or reject more bad applicants. In...
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QUANTITATIVE EASING POLICY AND ITS IMPACT ON THE GLOBAL ECONOMY
PublicationBased on the analysis of the impact of quantitative easing policies on the global economy, there was concluded that the world’s largest central banks and widespread debt stimulation have created the model of economic growth. This model was based on the productivity growth. The lack of productivity growth in the developed world, the active integration of developing countries (first of all China and India) in the global economy have...
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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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Tradycyjne i nowoczesne kanały dystrybucji wykorzystywane w procesie świadczenia usług ubezpieczeniowych dojrzałym konsumentom
PublicationPrzedmiotem artykułu są usługi ubezpieczeniowe świadczone z wykorzystaniem tradycyjnych i nowoczesnych kanałów dystrybucji. W artykule skoncentrowano się na osobach powyżej 50 roku życia, szczególnie narażonych na zjawisko wykluczenia cyfrowego. Na podstawie przeglądu literatury sformułowano hipotezę badawczą: cechy społeczno – demograficzne osób powyżej 50 roku życia wpływają na ich skłonność do korzystania z usług ubezpieczeniowych...
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Innowacje jako przedmiot obrotu rynkowego
PublicationW artykule podjęto problem cech innowacji jako produktów, które na świecie, coraz częściej również w Polsce, stają się przedmiotem obrotu rynkowego. Różnią się zdecydowanie od produktów, oferowanych przez przedsiębiorstwa produkcyjno-usługowe na rynkach dóbr konsumpcyjnych, także gotowych dóbr przemysłowych. Kluczowe różnice wynikają z tego, że innowacja może być produktem - przedmiotem obrotu rynkowego już jako idea i koncepcja,...
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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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Nowe substancje psychoaktywne CZ. II. SYNTETYCZNE KANNABINOIDY - CHARAKTERYSTYKA, METODY OZNACZANIA I WYZWANIA ANALITYCZNE
PublicationDo nielegalnego obrotu co roku trafiają nowe związki o działaniu psychoaktywnym. Dostęp do takich substancji nie jest trudny, gdyż są one łatwo dostępne w wielu krajach, głównie w sklepach internetowych. Ponadto, organy ścigania i wymiar sprawiedliwości nie nadążają z wprowadzaniem tych substancji na listy substancji zakazanych przez co ich kontrola jest bardzo utrudniona. Syntetyczne kannabinoidy to grupa związków chemicznych,...
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Osoby starsze wobec innowacyjnych form świadczenia usług ubezpieczeniowych
PublicationPrzedmiotem zainteresowania badawczego w niniejszym tekście są usługi ubezpieczeniowe świadczone z wykorzystaniem innowacyjnych środków komunikacji: Internetu lub telefonu. W artykule skoncentrowano się na osobach powyżej 50 roku życia, szczególnie narażonych na zjawisko wykluczenia cyfrowego. Na podstawie przeglądu literatury sformułowano hipotezę badawczą: Cechy społeczno – demograficzne osób powyżej 50 roku życia wpływają na ich...
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Determinants of COVID-19 Impact on the Private Sector: A Multi-Country Analysis Based on Survey Data
PublicationOur paper aims to investigate the impact of COVID‐19 on private sector companies in terms of sales, production, finance and employment. We check whether the country and industry in which companies operate, government financial support and loan access matter to the behaviour and performances of companies during the pandemic. We use a microdata set from a worldwide survey of more than 15,729 companies conducted between April and...
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Transparency of publicly available information about fiscal and monetary policy in Poland
PublicationResearch background: The quality of information provided by fiscal and monetary authorities are important in a democratic state. Ensuring fiscal policy transparency reduces fiscal risk and corruption and promotes public acceptance of fiscal reforms. Ensuring transparency in monetary policy allows market participants to anticipate central bank responses and take their effects into account when making investment and consumption decisions. Aim...
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Europe, between Mandatory and Voluntary Approach to CSR: Some New Evidence from the Polish Listed Companies
PublicationThis paper aims to explore the relationship between corporate governance rules and application of CSR practices into operations of the top 30 companies listed on the Warsaw Stock Exchange. Since in Poland, so far, there is no obligation to follow any specific CSR standards or to make disclosures of non-financial, social and environmental information, this is still a fully voluntary approach. At the moment, only some of the companies...
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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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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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EU state aid - compatible with the internal market for social reasons
Open Research DataThe dataset encompasses a choice of Polish and foreign bibliography, together with a list of important individual EC decisions issued in the period 2007-2013 on state aid delivered to final consumers for social reasons ( in Poland and in selected UE member states), in form of different financial instruments. Thanks to this compilation the reader is...
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A demand for innovation support in samll and medium-sized enterprises in the baltic sea region
Publicationthe aim of the expertise is to analyze the actual demand of smes from the baltic sea region for innovation support. the results of the conducted study can help formulate recommendations designed to increase innovation and competitiveness of smes in the baltic sea region in the future. research activities of this study include: the evaluation of innovation level of the baltic sea region enterprises (type and intensity of implemented...
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Energy policy and the role of bioenergy in Poland
PublicationPrzedstawiono sytuacje energetyczną kraju. Omówiono poszczególne sektory wytwarzania energii oraz zapotrzebowania na energię i paliwa. Omówiono przekształcenia sektorów energetycznych w Polsce na przestrzeni lat 1990-2002. Na tym tle przedstawiono techniczne, ekonomiczne, społeczne i prawne aspekty rozwoju energetyki źródeł odnawialnych a w szczególności opartych o bioenergię. Przedstawiono wnioski dla Polski płynące z dotychczasowych...
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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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New oryginal generic technologies: A Polish R&D strategic implementation programme
PublicationPolands's pharmaceutical industry is of great significance to the whole economy. According to Forbs (2 October 2012), the cost of launching a new drug varies from USD 1 to 11 bilion. There is little Chance of a Polish pharmaceutical company developing an original drug due to financial reason.Many research teams in Poland take up research projects aimed at new biologically active compounds. But such an objective has no broader perspective,...
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The Impact of Covid-19 on the Performance of Exchange Traded Funds on Developed and Emerging Markets
PublicationIn this paper an endeavour was made to evaluate the impact of Covid-19 on the achievement of the investment objectives by selected ETFs in developed and emerging markets. For this purpose, the tracking errors calculated for 18 different ETFs operating on the basis of American, Asian and European stock indexes were analyzed. The time range of the research was selected in such a way as to compare the period before the pandemic(pre-Covid)...