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Department of Economic Analysis and Finance
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Catalog Publications
Year 2024
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Corporate social responsibility and forward default risk under firm and industry heterogeneity
PublicationObjective: This study aims to evaluate the impact of corporate social responsibility on forward default risk (FDR) under the setting of firm and industry heterogeneity. Research Design & Methods: This study evaluated the impact of corporate social responsibility (CSR) on FDR using the data of 497 companies from 2007-2021 in the S&P 500 index, taking into account firm and industry heterogeneity aspects. This study utilized instrumental...
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Cryptocurrencies as a Speculative Asset: How Much Uncertainty is Included in Cryptocurrency Price?
PublicationThe aim of this paper is to examine the relationship between uncertainty indices (Geopolitical Uncertainty Index and Global Economic Policy Uncertainty Index) and cryptocurrencies. This study evaluated the behavior of cryptocurrencies with the evolution of uncertainties (GPU, EPU) on returns and volatility in terms of safe heaven as in traditional specualtive assets it increases their volaitility and reduces risk. For this purpose,...
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Dot-com and AI bubbles: Can data from the past be helpful to match the price bubble euphoria phase using dynamic time warping?
PublicationThe article investigates the existence of a price bubble in the artificial intelligence market, employing the Generalised Supremum Augmented Dickey-Fuller test and dynamic time warping methodology. It proposes a method to detect the end of the price bubble euphoria phase, generating an average profit of close to 7% over 5 days and over 10.5% over 20 days, with almost 90% effectiveness. The study found that the AI market experienced...
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Ewolucja zawodu nauczycielskiego. Od klasycznej szkoły do nowych wyzwań.
PublicationZawód nauczyciela od zawsze był traktowany jako fundament społeczeństwa, kształtujący umysły i charaktery przyszłych pokoleń. Jednakże w dzisiejszym, dynamicznym świecie ranga i rola nauczyciela ulegają znaczącym przemianom. W związku z postępującą digitalizacją, zmianami w sposobie przyswajania wiedzy przez młodych ludzi oraz ewoluującymi potrzebami edukacyjnymi, zawód nauczyciela staje w obliczu nowych zagrożeń, ale również oferuje...
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Fuel price, income and road safety as determinants of the level of the population’s economic well-being in Poland
PublicationThe opportunity to travel is one of the most favorite human activities, given that on a trip a person gets new knowledge, impressions and positive emotions. Recreational trips occupy a prominent place in the concept of the economics of happiness, and the study of factors that influence decision-making regarding travel is important for forecasting the number of tourists, infrastructure development, income and expenses of businesses...
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IS SMALLER BETTER? THE VALUATION OF SOCIAL IMPACTS OF DIFFERENTLY SIZED SPORTING EVENTS. THE CASE OF GDAŃSK
PublicationIntroduction. There is a discourse in the international literature regarding the impact of large sporting events on the place where they are held. In the last few years, particular emphasis has been laid on intangible effects, including social impacts that may occur not only in the case of mega sporting events but also in smaller sporting events. Therefore, the main aim of this paper is to estimate the monetary value of intangible...
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Multi-factor fuzzy sets decision system forecasting consumer insolvency risk
PublicationThe objective of this study is to develop a multi-factor decision system predicting insolvency risk for natural persons with the use of fuzzy sets. Considering that the financial situation of households is affected by various endogenous and exogenous factors, the main assumption of this study is that the system for predicting financial difficulties should not be limited to the use of only a few financial variables concerning consumers,...
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Personal bankruptcy prediction using machine learning techniques
PublicationIt has become crucial to have an early prediction model that provides accurate assurance for users about the financial situation of consumers. Recent studies have focused on predicting corporate bankruptcies and credit defaults, not personal bankruptcies. Due to this situation, the present study fills the literature gap by comparing different machine learning algorithms to predict personal bankruptcy. The main objective of the...
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Price bubbles and Co-bubbles in the green economy market
PublicationIn light of growing concerns about climate change and environmental issues, investor interest has surged in the new green economy market. However, the existing literature is limited regarding potential price bubble and co-bubble within this new domain. This study examines price bubble and co-bubble in the new green economy market, covering 31 indexes classified into three groups: the green economy market and its components, geographical...
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Public valuation of social impacts. The comparison between mega and non-mega sporting events
PublicationThe main aim of this study is to assign value to intangible effects,including social impacts, which appear when organising sportingevents of various scales in the city of Gdansk located in northernPoland. A survey was conducted to determine the city residents’willingness-to-pay (WTP) using the contingent valuation method(CVM). The average WTP values, which ranged between PLN 6.04and PLN 46.34, show that the scale of the sporting...
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Regenarative tourism – between theory and practice
PublicationPurpose: The aim of this article is to present a shift in thinking in terms of implementing the systems and practices needed to transition to a regenerative approach in tourism. The article aims to provide concrete ways to change thinking and move towards a regenerative paradigm in the tourism industry. Design/methodology/approach: This viewpoint paper defines regenerative tourism and explores its principles and the possibilities...
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Stymulacyjna funkcja podatku dochodowego
PublicationW opracowaniu podjęto próbę opisania i usystematyzowania wiedzy na temat systemu ulg i zwolnień podatkowych stosowanych w Polsce. Autor przedstawia m.in. historię i ewolucję systemu podatkowego w Polsce, począwszy od roku 1989, tłumacząc przy tym rolę państwa. Omówione zostały też trendy i kierunki rozwoju podatków dochodowych. W książce znajdują się informacje na temat istoty i funkcji podatków, ze szczególnym uwzględnieniem stymulacyjnej...
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Sustainable energy consumption – Empirical evidence of a household in Poland
PublicationThere is an expected increase in the demand for electricity from households in European countries. The outcome of the growing proportion of renewable energy sources in the energy supply mix should result in improved customer awareness regarding their electricity usage. Additionally, they must assume a more proactive role in overseeing their electricity usage. Innovation and pollution management have become crucial catalysts for...
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The “autumn effect” in the gold market—does it contradict the Adaptive Market Hypothesis?
PublicationThe present study aims to verify the autumn effect in the gold market, first presented 10 years ago by Dirk Baur in the paper “The autumn effect of gold” and to investigate the calendar effects occurring for other precious metals. This empirical research is presented in a way to place the results obtained in the context of the Efficient Market Hypothesis (EMH) and the more current Adaptive Market Hypothesis (AMH). The study was...
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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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The efficiency of bankruptcy proceedings and the severity of insolvency regulations in view of the implementation of the New Opportunity Policy
PublicationThe article investigates the relationship between the efficiency of insolvency proceedings, as measured by their duration, and measures the severity of bankruptcy law toward debtors in 27 countries, of which 23 are EU. This objective was achieved using quantitative methods – Pearson’s correlation, pooled panel regression and Granger causality. Research shows no direct correlation between the two variables mentioned above. The increase...
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Ulgi podatkowe w sektorze MŚP - wyniki badań
PublicationNiniejsza książka powstała na podstawie rozprawy doktorskiej autora, której podstawowe cele obejmowały zbadanie i określenie, czy i w jakim stopniu preferencje podatkowe w postaci ulg i zwolnień są wykorzystywane przez przedsiębiorców należących do sektora MŚP. Celem poznawczym niniejszej pracy jest uporządkowanie wiedzy na temat stymulacyjnej funkcji podatków realizowanej poprzez system ulg i zwolnień. Badanie składało się z czterech...
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What is the future of digital education in the higher education sector? An overview of trends with example applications at Gdańsk Tech, Poland
PublicationUniversities worldwide recognise the need to adapt to changes in society, the economy and the way young people prefer to learn. Additionally, the impetus to improve the digital approach in higher education intensifies as educational institutions have to remain competitive with commercial providers of education. Following the latest technological trends and implementing strategies to develop new digital solutions helps to improve...
Year 2023
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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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COLOUR SYMBOLISM IN FINANCE
PublicationColour symbolism plays an important role in everyday life and science. The subject is interdisciplinary and receives significant attention in the literature. It is increasingly entering the field of economics and finance. The authors are the first to research the connotations and symbolism of colours in finance. The following research aims to: identify and determine the meaning of col-ours in connection with the word “finance”,...
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Corporate social responsibility and forward default risk mediated by financial performance and goodwill
PublicationIn today’s business environment, corporate social responsibility (CSR) has become an increasingly significant factor for firms. This study is driven by the motivation to add to the current literature by investigating the mediating elements that explain the relationship between CSR and forward default risk. In this paper, we attempt to identify the important mediators and give a more comprehensive explanation of this connection...
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Determinanty stabilności fiskalnej jednostki samorządu terytorialnego
PublicationCelem rozdziału jest omówienie istoty i znaczenia stabilności fiskalnej JST oraz dokonanie klasyfikacji jej determinant w podziale na instytucjonalno- -prawne, ekonomiczno-finansowe, społeczne i naturalne, polityczne i organizacyjne, a także zwrócenie uwagi na te z nich, które szczególnie negatywnie oddziałują na stabilność fiskalną JST (w podziale na niezależne i zależne od JST).
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Do the young employees perceive themselves as digitally competent and does it matter?
PublicationPurpose – The study aims to examine the digital competence of young employees (under 30 years of age) who graduated from the technical university. Self-assessment of selected digital competencies was examined along with the determination of a self-efficacy level in the area of using digital competencies. Design/methodology/approach – Quantitative research was conducted using the computer-assisted web interview method on a sample...
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Edu Inspiracje WZiE: Active Learning, czyli o mocy aktywnego przetwarzania informacji
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Factors affecting the conclusion of an arrangement in restructuring proceedings: evidence from Poland
PublicationThe EU Restructuring Directive (2019/1023) requires Member States to provide a preventive restructuring framework for financially distressed entities that remain viable or are likely to readily restore economic viability. The first step to a successful restructuring is the approval of an arrangement between the debtor and creditors. The main research objective of the article is to identify factors affecting the conclusion of an...
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FACTORS AFFECTING THE CONCLUSION OF AN ARRANGEMENT IN RESTRUCTURING PROCEEDINGS: EVIDENCE FROM POLAND
PublicationThe EU Restructuring Directive (2019/1023) requires Member States to provide a preventive restructuring framework for financially distressed entities that remain viable or are likely to readily restore economic viability. The first step to a successful restructuring is the approval of an arrangement between the debtor and creditors. The main research objective of the article is to identify factors affecting the conclusion of an...
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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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Financial Consequences of the Introduction of the Fit For 55 on the Example of Poland
PublicationIn Europe and in Poland, there is a growing conviction that climate action is a necessity. When creating long-term strategies or making current decisions, companies are increasingly taking into account issues related to sustainable development and reducing CO2 emissions. Following the signing of the Paris Agreement in 2015, countries around the world pledged to reduce greenhouse gas emissions by 2050 so that the average temperature...
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Gender Disparity in the FinTech Sector: Systematic Literature Review
PublicationThe main objective of this chapter is to identify research areas of FinTech activity in which gender disparity has been observed. In addition, we shall identify how the development of FinTech reduces the gender gap. A systematic literature review using the PRISMA concept is the preferred research method. Publications were searched in the following databases: Web of Science, Scopus and Google Scholar using the formula “FinTech AND...
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Gospodarka w dobie pandemii Covid-19. Wybrane zagadnienia
PublicationMonografia ukazuje problemy gospodarek Polski , Kazachstanu i Ukrainy w okresie pandemii Covid-19 oraz programy naprawcze które podjęły rządy tych państw by zmniejszyć skutki wywołane lockdownem i spowolnieniem gospodarczym.
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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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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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Kapitał marki miasta Gdańska - ujęcie marketingowe
PublicationKapitał marki miasta obejmuje zestaw jego unikalnych cech, które umożliwiają rywalizowanie o potencjalnych klientów: mieszkańców, turystów, studentów czy też inwestorów. Niniejszy rozdział dotyczy problematyki czynników kształtujących markę miasta Gdańsk określonych na podstawie wyników badania jakościowego. Zostało ono przeprowadzone w formie wywiadu z ekspertami zajmującymi się zawodowo kreowaniem marki miast. Wyboru respondentów...
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Labour share and income inequalities in the European Union, taking into account the level of development of economies
Publicationesearch background: The relationship between labour share and income inequality is a complex and multifaceted problem. Despite ongoing discussions among economists, there is still no consensus on the direction of the relationship between labour share and income ine-quality. Purpose of the article: The article aims to assess the impact of labour share on income inequal-ity, which is measured in three ways: the Gini index...
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Nexus between stock markets, economic strength, R&D and environmental deterioration: new evidence from EU-27 using PNARDL approach
PublicationThis research investigates the impact of stock market indices, economic strength, and research and development expenditures on environmental deterioration in the EU-27 countries for the period 2000–2020. This study utilized linear and non-linear panel ARDL to estimate the short- and long-run effect. According to the results, the stock market indices have negative effect on environmental deterioration in the symmetric form. However,...
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POLAND’S ENERGY DEPENDENCE AT THE TURN OF THE 21ST CENTURY
PublicationThe following article is an attempt to assess Poland's energy independence in the years 1993-2020. The main aim of the paper is to present Poland's dependence on raw materials from foreign partners - in the field of imports of electricity, natural gas, crude oil, non-renewable energy resources, i.e., hard coal and lignite, and the country's dynamics in the amount of imports. In addition, the aim of the work is to answer research...
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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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Resource productivity and environmental degradation in EU-27 countries: context of material footprint
PublicationThis study explores the relationship between the resource productivity and environmental degradation in European Union-27 countries. This study tests this relationship in context of high, moderate, and low material footprint sub-samples; these samples are formed utilizing the expectation–maximization machine learning algorithm. Using the panel data set of EU-27 countries from 2000 to 2020, linear and non-linear autoregressive distributed...
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Rethinking non-governmental organizations – at the crossroad of economics and civil society
PublicationThe article aims to close the existing knowledge gaps, show why non‑governmental organizations are founded and maintained, and elaborate and systematize the existing knowledge through an analysis of the existing subdisciplines within economics, laying the groundwork for the economics of non‑governmental organizations. The article was written based on a structured literature review with an approach similar to the grounded theory...
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Soft skills among academics: Five theoretically informed lessons for current times
PublicationRESEARCH OBJECTIVE: The aim of this article is to provide a comprehensive examination of the role of soft skills among academics in the context of the evolving higher-education landscape. THE RESEARCH PROBLEM AND METHODS: We use a scoping review of existing literature to discuss the importance of soft skills in academia. Through critical analysis and synthesis, we identify patterns and gaps in current knowledge and develop five...
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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,...
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Stock Markets’ Reactions to the Announcement of the Hosts. An Event Study in the Analysis of Large Sporting Events in the Years 1976–2032
PublicationThis study attempts to estimate the impact of the announcements of hosts of large sporting events on domestic stock markets. The research problem is to establish a connection between the uniqueness of a sporting event and investors’ beliefs through stock price behavior. Using appropriate estimation windows, 13 different sporting events classified as large, including mega and major events, were tested. The obtained results show...
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The Employment of Ukrainians as an Opportunity to Fill the Labour Market in Poland – Selected Issues
PublicationThe labour market in Poland has undergone signifi cant transformations over the past two decades. The observed changes have been infl uenced by various factors related to, among other things, the possibility of free movement of the population resulting from membership of EU structures, demographic changes, technological changes, and the automation and robotisation of production processes. Demographic change is becoming a signifi...
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The energy concept of money
PublicationPurpose: This paper aims to provide the literature review seeking an answer whether energy can be used as a universal equivalent instead of money. Methodology: The author conducted a review of available literature and data sources related to the money theory and energy concept of money. Findings: It was found that the definition of energy as a general equivalent has a contextual and dynamic nature, and this field’s consolidation...
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THE ESSENCE OF THE TRANSFORMATION OF SOCIO-ECONOMIC RELATIONS IN THE NATIONAL ECONOMY: THEORETICAL AND METHODOLOGICAL ASPECT
PublicationThe article is devoted to a thorough study of the theoretical and methodological foundations of the essence of the transformation of socio-economic relations of the national economy. Based on the study of scientific sources, a proper definition of the concept of "transformation of socio-economic relations" was formed. It is proposed to consider transformational processes from the point of view of their direct or indirect impact...
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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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Zdrowie fiskalne jednostek samorządu terytorialnego
PublicationCel – Celem artykułu jest określenie istoty i determinant zdrowia fiskalnego jednostek samorządu terytorialnego (JST) w Polsce oraz zakresu jego pomiaru i oceny. Metoda badań – Wykorzystano analizę deskryptywną, analizę porównawczą oraz wnioskowanie indukcyjne i dedukcyjne. Wyniki – W krajowej literaturze przedmiotu poświęcono wiele uwagi problematyce kondycji finansowej i stabilności finansowej JST, ale słabo rozpoznana jest problematyka zdrowia...
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Zwalczanie przestępczości skarbowej jako aktywny sposób minimalizacji ryzyka podatkowego - case study
PublicationCelem pracy jest prezentacja i ocena sposobów zwalczania przestępczości skarbowej jako jeden z podstawowych sposobów minimalizacji ryzyka podatkowego. Metodologia badania - analizie i ocenie poddano wybrane sposoby zwalczania przestępstw skarbowych. Dla osiągnięcia tego celu posłużono się zarówno analizą literatury, jak i materiałów pochodzących ze statystyk sporządzonych przez służby skarbowe oraz policję. Wyniki - wyniki dowodzą,...
Year 2022
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Consequences of russia’s military invasion of Ukraine for Polish-Ukrainian trade relations
PublicationAn accurate forecast of interstate trade volume allows for short-term and long-term planning, particularly deciding on state budget revenues, foreign exchange earnings, border arrangement, other infrastructure, migration and social policies. Hostilities are destructive so the russian military aggression against Ukraine in 2022 needs to be assessed in terms of its effects on key economic aspects of Polish-Ukrainian relations, as...
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Cryptocurrencies as a speculative asset. How much uncertainty is included in cryptocurrency price?
PublicationThe aim of this paper is to examine the relationship between uncertainty indices (Geopolitical Uncertainty Index and Global Economic Policy Uncertainty Index) and cryptocurrencies. In order to conduct research, the authors collected the data on the major cryptocurrencies (Bitcoin, Ethereum, Tether, Dogecoin and USD coin) which account for 78% of the total market cap. Using panel OLS regression, this study finds that Bitcoin...