Institute of Economic Research Nicolaus Copernicus University

HONORARY PATRONAGE
MAYOR OF TORUŃ
MICHAŁ ZALESKI
THIS PUBLICATION WAS COFUNDED BY CITY OF TORUŃ
STRATEGIC PARTNER
INTERNATIONAL SCIENTIFIC
INSTITUTIONAL PARTNER
European Regional Science Association
Institute of Economic Research
Nicolaus Copernicus University
Faculty of Economic Sciences and Management
Polish Economic Society
Branch in Toruń
8th International Conference on Applied Economics
Contemporary Issues in Economy
– Market or Government?
edited by
Adam P. Balcerzak
18-19 June 2015
Toruń, Poland
Cover Design
Dominik Romiński
The eBooks attached to this publication are indexed in:
RePEc EconPapers Books and Chapters; Google Scholar
© Copyright by Institute of Economic Research and Polish Economic
Society Branch in Toruń
All rights reserved. No part of this book may be reproduced in any
form or in any means without the prior permission in writing
of the Publisher.
ISBN 978-83-937843-6-3
Institute of Economic Research
e-mail: [email protected]
www.badania-gospodarcze.pl
Polish Economic Society
Branch in Toruń
e-mail: [email protected]
www.pte.umk.pl
ul. Kopernika 21, 87-100 Toruń, Poland
Conference Organizers
Institute of Economic Research
Nicolaus Copernicus University
Faculty of Economic Sciences and Management
Polish Economic Society
Branch in Toruń
and
Brno University of Technology (Czech Republic)
Universidad Pablo de Olavide (Spain)
in cooperation with
Kaunas University of Technology (Lithuania), Kyiv National
Economic University named after Vadym Hetman (Ukraine),
Riga Technical University (Latvia), Steinbeis University
Berlin (Germany)
Scientific Committee
Brno University of Technology (Czech Republic)
doc. Ing. Stanislav Škapa, Ph.D.; doc. Ing. Tomáš Meluzín, Ph.D.
doc. Ing. Marek Zinecker, Ph.D.
European Regional Science Association Polish Section
dr Katarzyna Kopczewska; prof. dr hab. Paweł Churski
Kaunas University of Technology (Lithuania)
Dr. Evelina Meilienė; Professor Čiutienė Rūta
Professor Gražina Startienė
Kyiv National Economic University named after Vadym Hetman
(Ukraine)
Professor Larysa Antoniuk
Pablo de Olavide University (Spain)
Professor José Antonio Ordaz
Professor María del Carmen Melgar
Riga Technical University (Latvia)
Professor Natalja Lace
Steinbeis University Berlin (Germany)
Professor Bärbel Held
Nicolaus Copernicus University (Poland)
prof. Jerzy Boehlke; prof. Danuta Dziawgo;
prof. Bożena Kołosowska; prof. Tadeusz Kufel; prof. Magdalena Osińska;
prof. Ewa Siemińska; prof. Jerzy W. Wiśniewski; prof. Zenon Wiśniewski
Organizing Committee
Adam P. Balcerzak, Ph.D. – Chairman
Brno University of Technology
Ing. Tomáš Meluzín, Ph.D.
Pablo de Olavide University
Carmen M. Rubio
Kyiv National Economic University named after Vadym Hetman
Mariia Tyshchenko, PhD
Denys Verba, PhD
Riga Technical University
Dr. oec. Jelena Titko
Nicolaus Copernicus University
dr Michał Moszyński, dr Michał Pietrzak, mgr Magdalena Kuczmarska,
mgr Ilona Pietryka, mgr Elżbieta Rogalska, Natalia Bakalarz, Karolina
Boruta,Magdalena Gogol, Joanna Skrzypińska, Marta Sławińska,
Aleksandra Strzelecka, Justyna Tomkiewicz
Institutions Represented
at the Conference
Australia
University of New South Wales
Brasil
Federal University of Santa Maria
Czech Republic
Brno University of Technology, Masaryk University, School of Business
Administration in Karvina, Silesian University in Opava, Technical University
of Liberec, VŠB- Technical University of Ostrava
Egypt
Modern Sciences and Arts University (MSA),
Estonia
University of Tartu
France
University of Montpellier
Germany
Berlin School of Economics and Law, Carl von Ossietzky University Oldenburg,
Steinbeis-Hochschule Berlin
Hungary
Budapest Business School, College of Finance and Accounting, University
of Miskolc
Italy
University of Salerno
Latvia
BA School of Business and Finance, University of Latvia
Lithuania
Aleksandras Stulginskis University, Kaunas University of Technology, Utena
University of Applied Sciences, Vilnius University
Malaysia
Islamic Development Bank (IDB)
Mexico
Universidad Azteca
Nigeria
Federal University, Federal University Dutsin-ma
Poland
Adam Mickiewicz University in Poznań, College of Social and Media Culture in
Toruń, Cracow University of Economics, Gdansk University of Technology,
Gdynia Maritime University, Institute of Agricultural and Food Economics
– National Research Institute, Jagiellonian University in Krakow, John Paul II
Catholic University of Lublin, Kielce University of Technology, Łazarski University, Łódź University of Technology, Lublin University of Technology, Maria
Curie-Skłodowska University (UMCS) in Lublin, National Bank of Poland, Pedagogical University in Cracow, Pope John Paul II State School of Higher Education in Piała Podlaska, Poznan School of Banking, Poznan University of Economics, Poznan University of Technology, Silesian University of Technology,
Stanisław Staszic University of Applied Sciences in Piła, State School of Higher
Education in Chelm, State School of Higher Education in Oświęcim, Statistical
Office in Bygdoszcz, University of Białystok, University of Economics in Katowice, University of Gdansk, University of Life Sciences in Lublin, University of
Łódź, University of Silesia in Katowice, University of Szczecin, University of
Technology and Live Sciences in Bydgoszcz, University of Warmia and Mazury
in Olsztyn, University of Warsaw, University of Wrocław, University of Zielona Góra, Warsaw School of Economics, Warsaw University of Life Sciences
– SGGW, Warsaw University of Technology, West Pomeranian University of
Technology in Szczecin, Wrocław University of Economics, Wroclaw University of Technology, WSB School of Banking in Pozniań, Poland
Portugal
Polytechnic Institute of Porto, University of Aveiro
Republic of Moldova
The State Agrarian University of Moldova
Romania
Alexandru Ioan Cuza University of Iași, Aurel Vlaicu University of Arad, Bucharest University of Economic Studies, Bucharest University of Economic Studies, Petru Maior University of Tîrgu Mureş, University of Oradea
Russian Federation
Financial University under the Government of the Russian Federation, Gaidar
Institute for Economic Policy, Russian Presidential Academy of National Economy and Public Administration, Saint Petersburg Polytechnic University, Saint
Petersburg State University, University Higher School of Economics (HSE)
Slovenia
University of Ljubljana
Ukraine
Chernihiv National University of Technology, Kyiv National Economic University named after Vadym Hetman, Ukrainian National Academy of Sciences,
Volodymyr Dahl East Ukrainian National University
United Kingdom
Middlesex University, University of Huddersfield
United States
Columbia University, Molloy College
Contents
_Toc420774692
Keynote Speakers
Market or Government?
Kalim Siddiqui
Economic Policy – State versus Market Controversy ...................................39
Ezra Davar
Unemployment: Walras’s Voluntary and Keynes’s Involuntary ..............65
Andrzej Cieślik, Łukasz Goczek
On the Evolution of Corruption Patterns in the Post-Communist
Countries.........................................................................................................................93
List of Papers
Piotr Adamczewski
Conditions of Functional ICT Structure in Network Organization....... 117
Mieczysław Adamowicz, Aldona Machla
Small and Medium Enterprises and the Support Policy of Local
Government ................................................................................................................ 118
Waleed Ahmad Jameel Addas
Is There a Principle of Equivalence in Economics? .................................... 119
Adam A. Ambroziak
Income Tax Exemption as a Regional State Aid in Special Economic
Zones and its Impact Upon Development of Polish Districts ................. 120
Lyubov Andrushko
Evaluation of the Meat Industry Efficiency in Poland, in the years
2000-2013 (Based on the data of the Central Statistical Office) .......... 121
14
Contents
Dobrosława Antonów
The Influence of the Stamp Duty on Setting and Running
a Business .................................................................................................................... 122
Arzybaev Askar
Synthesis of Pension System Parametric Assessment .............................. 123
Diana Elisabeta Balaciu, Lucian Cernusca
Ioana Teodora Mester
An Empirical Study on Students’ Behaviour Regarding Creative
Accounting Techniques.......................................................................................... 124
Adam P. Balcerzak
Europe 2020 Strategy Implementation. Grouping the Countries
with the Application of Natural Breaks Method .......................................... 125
Bernadeta Baran
Renewable Energy Support in Germany as an Example
of Effective State Policy.......................................................................................... 126
Bartosz Bartniczak
State Aid as a Tool of Market Failures ............................................................. 127
Krzysztof Beck
Business Cycle Synchronization: A Regional Perspective ....................... 128
Joanna Bednarz, Magdalena Markiewicz
From Confrontation to Cooperation – Institutional Support
in Building Cooperation of Polish Enterprises ............................................. 129
Tomasz Bernat
Genes and Entrepreneurship – Is There Any Relation? ........................... 130
Dalia Bernatonyte
Estimation of Export Specialization: Lithuanian Case .............................. 131
Contents
15
Kamila Bielawska
Pension Reforms in Central and Eastern European Countries
and Fiscal Policy Coordination in the European Union After 2008..... 132
Beata Bieszk-Stolorz, Iwona Markowicz
Influence of Unemployment Benefit on the Duration
of Registered Unemployment Spells ................................................................ 133
Nina Bočková
R&D Tax Incentives in Industry: Empirical Study Among Small
and Medium Electronics Manufacturing Enterprises ............................... 134
Agnieszka Bojanowska
Model of Building Relationships With Customers Via the Use
of Mobile Devices...................................................................................................... 135
Katarzyna Boratyńska
Corporate Bankruptcy and Survival on the Market: Lessons from
Evolutionary Economics........................................................................................ 136
Arkadiusz Borowiec
A Model Assessing Innovativeness of Administration Units
Awarding Public Contracts as a Tool to Conduct
Economic Policy of the State ................................................................................ 137
Krzysztof Borowski
Analysis of Monthly Rates of Return in April and Correlation
Analysis of Monthly Rates of Return in April on the Example
of Selected World Stock Exchange Indices .................................................... 138
Christophe Boya
Testing Capital Market Efficiency ...................................................................... 139
Sylwia Bożek, Izabela Emerling
Protecting the Organization Against Risk and the Role
of Financial Audit ..................................................................................................... 140
16
Contents
Ivars Brīvers
Market or Government – Is There a Third Way? ......................................... 141
Dominika Brózda
Transmission Mechanism of the Federal Reserve System’s
Monetary Policy in the Conditions of Zero Bound
on Nominal Interest Rates .................................................................................... 142
Jurgita Bruneckienė, Jolita Sinkienė
The Specific of Economic Competitiveness Evaluation of Cities
from Cross-border Region Under the Context of Urban Shrinkage..... 143
Marcin Brycz
How Pension System Investment Contributed to Debt
Inflation – Case of Sweden.................................................................................... 144
Katarzyna Budzyńska
Offshoring sector in Poland.................................................................................. 145
Wiesława Caputa
Social Relations and Environmental Influence as a Determinant
of Customer Capital ................................................................................................. 146
Katarzyna Cheba
The Influence of Clusters on Economic Development.
A Comparative Analysis of Cluster Policy
in the European Union and Japan ...................................................................... 147
Elena Cherniavskaya
European Transport Project Rail Baltica: Perspectives
for Poland and Russia ............................................................................................. 148
Jadvyga Ciburiene
The Evaluation of Economic Development Index: Theory
and Research .............................................................................................................. 149
Andrzej Cieślik
Export Versus FDI in Cournot Duopoly Framework.................................. 150
Contents
17
Andrzej Cieślik, Jan Michałek, Iryna Nasadiuk
Determinants of Export Performance of Ukrainian Firms ...................... 151
Anna Cudowska-Sojko
The Global Economic Crisis and Poland’s State Debt ................................ 152
Agnieszka Czajkowska
Mezzanine as an Alternative Form of Corporate Financing ................... 153
Joanna Czaplak
Analysis of the Effectiveness of Public Services Provision by Local
Governments in the Years 2007-2013 ............................................................ 154
Elżbieta Czarny, Jerzy Menkes
European Union and European Germany ...................................................... 155
Elżbieta Czarny, Paweł Folfas
World Trade and Regional Trade Orientation in the Context
of Forthcoming Transatlantic Trade and Investment Partnership ..... 156
Sławomir Czech
Choice Overload Paradox and Public Policy Design. The Case
of Swedish Pension System .................................................................................. 157
Teresa Czerwińska, Angelika Lala
Globally Systemically Important Insurers – Are They Really
Dangerous for Global Financial System? ........................................................ 158
Sławomir Czetwertyński
Internet Peer Production and Unauthorized Copying
of Intellectual Property Via BitTorrent Network ........................................ 159
Bazyli Czyżewski, Jan Polcyn, Anna Hnatyszyn-Dzikowska
Concept of Measuring Efficiency of Public Goods Provision
Based on Educational Sector in Poland ........................................................... 160
18
Contents
Ezra Davar
General Equilibrium Theory – Walras Versus Post-Walras
Economists: “Finding Equilibrium” – Losing Economics ......................... 161
Piotr Dominiak, Ewa Lechman, Anna Okonowicz
Fertility Rebound and Economic Growth. New Evidence for 18
Countries Over the Period 1970-2011 ............................................................ 162
Ryta Dziemianowicz, Aneta Kargol-Wasiluk, Renata Budlewska
Fiscal Councils as a Part of Fiscal Governance in the European
Union Member States ............................................................................................. 163
Éva G. Fekete, Zsuzsanna Dabasi-Halász Dániel Kuttor
Anna Vizkeleti
Between the Market and the Government – Social Economy
Opportunities and Initiatives on Post-communist Peripheries ............ 164
Anna M. Ferragina, Fernanda Mazzotta
Employment Growth in Italy: the Role of Firm Size and
Internationalisation................................................................................................. 165
Piotr Fiszeder, Witold Orzeszko
Detecting Nonlinear Causal Relations on the Agricultural Market...... 166
Olaf Flak, Grzegorz Głód
Features of Polish Companies. Results of the Company
Competitiveness Barometer 2014 .................................................................... 167
Anna Fornalska - Skurczyńska
How to Effectively Support Export Activity .................................................. 168
Peter Friedrich
Determining Social Capital by Social Accounting........................................ 169
Waldemar Gajda
Paradigm of Empirical Research of Tools Determining
Management of Contemporary Economic Organisations With
the Use of the Delphi Method .............................................................................. 170
Contents
19
Małgorzata Gajowiak
Asset Sources of Competitive Advantage of SMEs From High-tech
Sector in the Region of Greater Poland ........................................................... 171
Tomasz Galewski
Problems in Measuring Price Dispersion in E-commerce ....................... 172
Bogna Gawrońska-Nowak, Wojciech Grabowski
Using Genetic Algorithm in Dynamic Model of Speculative Attack ..... 173
Aleksandra Gąsior
Innovation and Their Impact on the Environment .................................... 174
Aneta Giedrewicz-Niewińska
Employee Involvement in Corporate Governance in a European
Company ...................................................................................................................... 175
Wiesława Gierańczyk, Agata Kordowska
Regional Differences in the Activity of Industrial Enterprises
in the Use of Public Financial Instruments to Support Innovation
in the Period 2011-2013 ....................................................................................... 176
Katarzyna Glinka
China’s Financial Market Adjustment in the Wake of Global
Financial Crisis .......................................................................................................... 177
Beata Glinkowska
Knowledge Acquisition in Small and Medium-sized Enterprises ........ 178
Michał Głuszak, Agnieszka Małkowska
Pro-investment Local Policies in the Area of Real Estate
Economics – Similarities and Differences in the Strategies Used
by Communes ............................................................................................................ 179
Łukasz Goczek
Semi-strong Informational Efficiency in the Polish Foreign Exchange
Market ........................................................................................................................... 180
20
Contents
Jadwiga Gorączkowska
Technological Parks and the Innovation Activity of Enterprises
in the Industrial Networks – Developed Regions
vs. the Intermediate Ones ..................................................................................... 181
Anna Grześ
Does the Outsourcing Affect Labour Costs in Enterprises?
Evidence from Firm-level Data ........................................................................... 182
Katarzyna Gwóźdź
Assessing the Non-financial Investment Profitability with
Variable Discount Rate........................................................................................... 183
Bärbel Held
Comparison of Public, Non-Profit and Private Hospitals ......................... 184
Anna Horodecka
Reasons for the Changes of the Concepts of Human Nature
in the Economics Exemplified on the Contemporary Trends ................ 185
Vladimír Hyánek, Zuzana Prouzová
Non-profit Institutions’ Funding Resources in the Time of Crisis:
Market or Government? ........................................................................................ 186
Małgorzata Magdalena Hybka
Allocating Tax Revenue to Sub-Central Government Levels:
Lessons from Germany and Poland .................................................................. 187
Dmytro Iefremov
The Scale and Structure of Chinese Public Sector: Sources
of Anomalies ............................................................................................................... 188
Michał Igielski
Management System of Knowledge Workers in the Contemporary
Enterprise .................................................................................................................... 189
Contents
21
Bogna Janik, Krzysztof Kołodziejczyk
Eco-innovations in the Business Practice of the Companies
Traded on the Warsaw Stock Exchange – an Overview
of Selected Results ................................................................................................... 190
Elżbieta Jantoń-Drozdowska, Maria Majewska
Social Capital as a Key Driver of Productivity Growth
of the Economy: Across-countries Comparison .......................................... 191
Elżbieta Jantoń-Drozdowska, Maria Majewska
Investment Attractiveness of Central and Eastern European
Countries in the light of New Locational Advantages
Development .............................................................................................................. 192
Jakub Janus
The Transmission Mechanism of Unconventional Monetary Policy... 193
Michal Jarmolovič
Economic and Monetary Union and the Optimal Currency
Area Theory: an Attempt at Market design? ................................................. 194
Tomasz Jasiński, Agnieszka Ścianowska
Security Assessment and Optimization of Energy Supply....................... 195
Andrzej Jędruchniewicz
Monetary Policy and Investments in the Polish Economy ...................... 196
Izabela Jonek-Kowalska
State Aid and Competitiveness of the Hard Coal Mining Industry
in the European Union ........................................................................................... 197
Aldona Kamela-Sowińska
Accounting Integration issues of EU Member States................................. 198
Aliyu Ibrahim Kankara, S.S. Ibrahim
Economic Negation of Artisanal Gold Mining at Maiwayo
and Gada-Eregi Environ, Northern, Nigeria .................................................. 199
22
Contents
Dorota Kawiorska
Healthcare in the Light of the Concept of Welfare State Regimes
– Comparative Analysis of EU MS ...................................................................... 200
Milka Kazandziska
Macroeconomic Policy Regime in Poland ...................................................... 201
Tomasz Kijek
Intellectual Property Rights and Appropriability of Innovation
Capital: Evidence From Polish Manufacturing Firms ................................ 202
Emilia Klepczarek
Disclosure of Risk Information in the European Banking Sector ......... 203
Jacek Klich
Health Care Systems’ Evolvement and the Changing Role
of the State in Selected CEEC ............................................................................... 204
Lidia Kłos
The Competitiveness of SMEs ............................................................................. 205
Olga Kontorovich, Marina Alekseevna Fedotova
Olga Vladislavovna Loseva
Monetary Valuation of Intellectual Human Capital
in Innovative Activity.............................................................................................. 206
Katarzyna Kopyściańska
Admissibility of Optimizing the Tax Burden ................................................. 207
Marek Kopyściański
The Impact of Tax-free Amount of Personal Income Tax
on Budget Revenues ................................................................................................ 208
Aleksandra Kordalska, Magdalena Olczyk
Global Competitiveness and Economic Growth: A One-Way
or Two-Way Relationship? ................................................................................... 209
Contents
23
Andrzej Kowalczuk
The Analysis of the Competitiveness of the Biggest Enterprises
in the Construction Industry in Podlaskie Region Compared
to the Sector, Based on the Radar of Nagashima ......................................... 210
Iwona Kowalska
Sources of Financing Knowledge-Based Economy: the Case
of Formal, Non-Formal and Informal Education in Poland..................... 211
Katarzyna Kowalska
Network Organizations and Corporate Social Responsibility ............... 212
Iwona Koza
The Modern Challenges of Regional Development and
Socio-economic Potential of Town Districts Belonging to North
Macro-region of Poland ......................................................................................... 213
Barbara Kryk
The Accomplishment of the EU Objectives Relating to LLL
in Poland ...................................................................................................................... 214
Katarzyna Kubiszewska
Banking Concentration in the Baltic and Western Balkan
States – Selected Issues.......................................................................................... 215
Joanna Kuczewska, Joanna Stefaniak-Kopoboru
Export Specialization in Services of the Visegrad Countries................. 216
George Kudrna
Means Testing of Public Pensions: The Case of Australia........................ 217
Justyna Kufel
Monopolistic Markups in the Polish Food Sector ...................................... 218
Maria Kukurba
Supply Chain Management and the Value of Enterprise.......................... 219
24
Contents
Jan Kultys
Controversy About Theoretical Fundamentals of Corporate
Governance ................................................................................................................. 220
Remigiusz Lewandowski
Economic Sectors of Strategic Importance for the State Security........ 221
Wiesława Lizińska, Renata Marks-Bielska
Karolina Babuchowska, Magdalena Wojarska
The Institutional Efficiency of the Local Government in Terms
of Administrative Decisions ................................................................................. 222
Monika Łobaziewicz
Reporting Process Standardization in B2B System ................................... 223
Błażej Łyszczarz
Public-private Mix and Performance of Health Care Systems
in CEE and CIS Countries ....................................................................................... 224
Joanna Machnik-Słomka, Agata Stachowicz-Stanusch
Application of Modern Information Technologies in Prevention
of Corruptive Practices in an Organization ................................................... 225
Joanna Mackiewicz-Łyziak
Fiscal Sustainability in CEE Countries – the Case of the Czech
Republic, Hungary and Poland ........................................................................... 226
Małgorzata Madrak-Grochowska
The Knowledge-based Economy as a Stage in the Development
of the Economy.......................................................................................................... 227
Ireneusz Maj
Asymmetry of the Information and the Knowledge Between
Owners and Workers in Large Family Companies,
as the Determinant of their Success ................................................................. 228
Contents
25
Ingrid Majerová
The Impact of Selected Variables on the VAT Gap in the Member
States of the European Union .............................................................................. 229
Joanna Małecka
Revenues, Expenses, Profitability and Investments of Potential
Contenders for the Status of a Listed Company in Poland ...................... 230
Piotr Masiukiewicz
Doctrine of Public Good in Banking Versus State Intervention ............ 231
Agnieszka Matuszewska–Pierzynka
Net Profit Distribution Policy in Companies Using State–owned
Enterprises Against Payment ............................................................................. 232
Błażej Mazur, Łukasz Lenart, Mateusz Pipień
Statistical Analysis of Business Cycle Fluctuations in Poland
Before and After the Crisis ................................................................................... 233
Marta Mazurowska
Dillemas of Hedge Accounting ............................................................................ 234
Rūta Meištė, Sandra Jakštienė
Crisis Diagnosis in Anti-Crisis Management Process in a Company ... 235
Tomáš Meluzín, Marek Zinecker
Trends in IPOs: The Evidence from CEE Capital Markets ....................... 236
Aneta Michalak
The Cost of Capital in the Effectiveness Assessment of Financial
Management in a Company .................................................................................. 237
Wiesława Miemiec
Tax Optimization. The Use of Methods and Rates of Depreciation
of Fixed Assets ........................................................................................................... 238
Sławomir Miklaszewicz
Sovereign Debt Crisis of Euro Zone Countries ............................................. 239
26
Contents
Dorota Miłek, Paulina Nowak
Regional Specialisation as an Endogenous Factor
in the Development of Poland’s Provinces .................................................... 240
Marta Moczulska, Janina Stankiewicz
The Involvement of Employees in Knowledge Management
in the Light of the Research Results ................................................................. 241
Jean-Louis Monino, Christophe Boya
A Non-parametric Modeling Between Time Series: a Qualitative
Approach...................................................................................................................... 242
Sylwia Morawska, Przemysław Banasik
Responsible courts in a Global World: “Managerism” or
“Managerialism”?...................................................................................................... 243
Michał Moszyński
Ordoliberalism and the Macroeconomic Policy in the Face
of the Euro Crisis ...................................................................................................... 244
Anna Moździerz
Strengthening the Post-crisis Fiscal Rules – the Case of Spain,
Slovakia and Sweden .............................................................................................. 245
Anna Murawska
Differentiation of Unemployment Among People in a Special
Situation on the Labor Market on the Example of Polish Regions ....... 246
Tomasz L. Nawrocki
R&D Activity and Core Business Efficiency on the Example
of Technology Companies ..................................................................................... 247
Quang Nguyen
Linking Group Norm and Status Seeking Preferences: Insights
from a Field Experiment on Charitable Giving............................................. 248
Contents
27
Liudmila Nikolova, Dmitriy Rodionov, Irina Rudskaia
Regional Innovation Programs’ Sustainability Under Risk and
Uncertainty ................................................................................................................. 249
Tomasz Norek, Daniel Luis Arenhardt
Comparative Analysis of Innovative Activity Determinants in
Companies of Small and Medium Enterprises Sector in Brazil and
Poland. Results of Empirical Researches........................................................ 250
Olena Nykyforuk
Transport Policy of Ukraine in the Context of Ukraine–European
Union Association Agreement............................................................................. 251
Małgorzata Olszak, Mateusz Pipień, Sylwia Roszkowskac
The Impact of Capital Ratio on Lending of EU Banks – the Role
of Bank Specialization and Capitalization ...................................................... 252
Izabela Ostrowska
Analysis the Issue of Satisfaction with Online Shopping
of Polish Consumers................................................................................................ 253
Magdalena Owczarczuk
Economic Freedom and FDI in Postsocialist Countries
of European Union ................................................................................................... 254
Irina-Doina Păşcan, Ramona Neag
Economic Consequences of the Adoption of the International
Financial Reporting Standards: Evidences in the Research
Literature ..................................................................................................................... 255
Adalmiro Andrade Pereira, Sara Neves
Investment Analysis Based on the Context of Use ...................................... 256
Iaroslav Petrakov
Between Intervention and Free market: Fiscal Policy Tools
Design for Innovative Development of the Depressed Regions
(Ukrainian Case) ....................................................................................................... 257
28
Contents
Paweł Piątkowski
Economic Policy Under Influence of Globalization. Opportunities
and Threats ................................................................................................................. 258
Anna Piekarczyk
Contemporary Organization and a Perspective on Integration
and Development ..................................................................................................... 259
Aleksandra Pieloch-Babiarz
Catering Approach to the Dividend Payment Policy
on the Warsaw Stock Exchange.......................................................................... 260
Michał Pilc
What Determines the Reforms of Employment Protection
Legislation? A Global Perspective...................................................................... 261
Aurelian-Petruș Plopeanu, Tiberiu Brăilean
Wall Street’s Culture ............................................................................................... 262
Piotr Podsiadło
The Question of State Aid for Rescuing and Restructuring
Undertakings in Difficulty in the Context of the General
Government Sector Debt of EU Member States ........................................... 263
Elżbieta Pohulak-Żołędowska
Innovation in Contemporary Economies ....................................................... 264
Mariusz Próchniak, Bartosz Witkowski
On the Use of Panel Stationarity Tests in Convergence Analysis:
Empirical Evidence for the EU Countries ....................................................... 265
Michał Ptak
Public Support for Renewable Energy in Poland ........................................ 266
Mirosław Raczyński
Competition Policy and Crisis. Economic Issues ......................................... 267
Contents
29
Tjaša Redek, Matjaž Koman, Janez Prašnikar
Jan Svejnar
The Effect of Crisis on Labor's Bargaining Power and
Wage-employment Outcomes in Europe........................................................ 268
Agnė Reklaitė
Globalisation Effect Measure via Hierarchical Dynamic Factor
Modelling ..................................................................................................................... 269
Małgorzata Renigier-Biłozor, Andrzej Biłozor
Optimization of the Variables Selection in the Process
of Real Estate Markets Rating ............................................................................. 270
Anita Richert-Kaźmierska
Demographic Changes in Poland – the Regional Dimension.................. 271
Irina Romodina, Maxim Silin
Perspectives of Introduction Sustainable Procurement In Public
Procurement in Russia ........................................................................................... 272
Tomasz Rosiak
Fiscal Capacity for Euro Area – Towards a Bigger EU Budget? ............. 273
Małgorzata Rutkowska-Podołowska, Grzegorz Podołowski
Nina Szczygieł
Vino Therapy and its Impact on Health Attitudes: The Innovation
Perspective.................................................................................................................. 274
Alina Rydzewska
Contemporary Nature of Stock Exchange from the Perspective
of Demutualization Process ................................................................................. 275
Artur Sajnóg
Comparative Analysis of Economic Efficiency of Polish
and German Listed Companies ........................................................................... 276
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Contents
Iwona Salejko-Szyszczak
Poverty in Poland in the Years 2000-2013.................................................... 277
Doaa M. Salman
Role of Institution, Government to Robust International
Entrepreneurial Activities and Economic Growth: New Evidence ...... 278
Saifullahi Sani Ibrahim
Budgetary Allocation and Poverty situation in Nigeria:
the Implication for Economic Insecurity ........................................................ 279
Greg Sand, Leonidas Tsitouras, George Dimitrakopoulos
Vassilis Chatzigiannakis
GlobaliFusion, The First Worldwide, Holistic, Information &
Communication Technologies (ICT) and Big Data Aggregation
Approach to Social Media Marketing ............................................................... 280
Alicja Sekuła, Joanna Śmiechowicz
Systems of General Grants for Local Governments in Selected
EU Countries Against the Background of the General
Theory of Fiscal Policy ........................................................................................... 281
Inna Semenenko
Energy security of Ukraine in the Context of its Sustainable
Development .............................................................................................................. 282
Łukasz Siemieniuk
Academic Business Incubators as an Institutional Form
of Academic Entrepreneurship Development in Poland ......................... 283
Anna Siemionek, Małgorzata Siemionek
Balanced Scorecard Concept in Romanian Small and Medium
Enterprises .................................................................................................................. 284
Zaneta Simanaviciene, Andzej Volochovic
Akvile Cibinskiene
Features of Energy Saving Potential in Household Evaluation ............. 285
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Ágnes Sipos
Shared State Taxes and Tax Policy of Local Self-governments in
Connection With Tax Morale ............................................................................... 286
Beata Skubiak
Financial Instruments for Development the Rural Areas ........................ 287
Ronalds Skulme, Valērijs Praude
Social Media Evaluation Metrics ........................................................................ 288
Katarzyna Smolny
The Processes of Globalisation Versus Fiscal Regulations
Regarding to the Debt and the Deficit in the EU .......................................... 289
Konrad Sobański
Valuation Effect as a Determinant of the International Investment
Position in Central and Eastern European Economies ............................. 290
Alla V. Sorokina, Stepan P. Zemtsov, Pavel. N. Pavlov
Specifics of Cluster Policy in Russia.................................................................. 291
Tomasz Sosnowski
Motives and Effects of the Initial Public Offerings
on the Warsaw Stock Exchange.......................................................................... 292
Zbigniew Stańczyk
Economic Slowdown in BRIC Countries After Global
the Financial Crisis................................................................................................... 293
Vladěna Štěpánková, Jiří Kříž, Lenka Smolíková
Management of Projects Risk with Business Intelligence ....................... 294
Beata Stępień, Monika Sulimowska - Formowicz
Economic vs Managerial Perspective on Inter-organisational
Relations’ Analysis – Are Economists on the Dead-end Track? ............ 295
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Contents
Andrzej Stolarski
The Effect of Pre-emptive Methods and the Maturity
of the Corporate Income Tax on the Company's Liquidity
Management Strategy. Analysis Based on the Solutions Adopted
in the European Union Countries ...................................................................... 296
Joanna Stryjek
Tax Incentives for Innovation ............................................................................. 297
Hana Štverková, Vlasta Humlová
Assessment of the Performance and Competitiveness
of the Selected Clusters in the Moravian-Silesian Region ....................... 298
Iwona Szczepaniak
Poland's Export Specialization in Trade with the EU – Food
Products vs Selected Groups of Non-food Products .................................. 299
Katarzyna Szopik-Depczyńska
Effects of Innovative Activities of Polish Industrial Enterprises
of Western Poland.................................................................................................... 300
Jarosław Szostak
Defining the State’s Responsibility for Social and Economic
Development .............................................................................................................. 301
Danuta Szwajca
Corporate Reputation and Customer Loyalty as the Measures of
Competitive Enterprise Position – Empirical Analyses
on the Example of Banking Sector.................................................................... 302
Paulina Szyja
The Role of the State in Creating a Green Economy................................... 303
Magdalena Szyszko, Karolina Tura
Can Inflation Forecast and Monetary Policy Path be Really
Useful? The Case of Czech Republic .................................................................. 304
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Karol Śledzik
“Fettered” and “Unfettered” Capitalism in J.A. Schumpeter’s
Concept of Tax State and Economic Development ..................................... 305
Dominik Śliwicki
Decomposing the Net Efficiency of Active Labor Market Programs ... 306
Arkadiusz Świadek
The Economic Cycle and the Innovation Activity of the Polish
Industry System ........................................................................................................ 307
Lukáš Turčok, Athanasios Podaras
A VBA Model for Calculating Partnership Efficiency ................................. 308
Kamila Turečková
Income Inequality by Method of Non-weighted Average Absolute
Deviation: case study of Central and Eastern European Countries ..... 309
Vlada Vitunskienė, Evaldas Serva
Lithuania’s Agri-food Industry Export Competitiveness ......................... 310
Aneta Waszkiewicz
Shadow Banking – Its Place in the Modern Financial System................ 311
Joanna Węgrzyn
Research Trends of Public-Private Partnerships (PPPs) in Poland .... 312
Anna Wildowicz-Giegiel, Adam Wyszkowski
Absorption of EU Funds in the Context of Polish Enterprises
Competitiveness Measured by Profitability Rates...................................... 313
Anna Witek-Crabb
Maturity of Strategic Management in Organizations................................. 314
Julia Włodarczyk, Jan Acedański
Dispersion of Inflation Expectations in the European Union
During the Global Financial Crisis ..................................................................... 315
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Contents
Dorota Wojtczak – Samoraj
The Independence of the European Central Bank in the Context
of the Single Supervisory Mechanism .............................................................. 316
Grażyna Wolska
The Review of Theories of Mainstream Economics
on the Example of Economic Models ............................................................... 317
Beata Woźniak-Jęchorek
Institutional Determinants of Regional Diversity of Labor
Market in Poland ...................................................................................................... 318
Gabriela Wronowska
Welfare and Higher Education in EU Member
States – Comparative Analysis ............................................................................ 319
Silvia Zaharco
The Impact of Integration in the European Union
on the Development of Food Products Trade of the Republic
of Moldova ................................................................................................................... 320
Magdalena Zajączkowska
Prospects for the Development of Prosumer Energy in Poland ........... 321
Anna Ząbkowicz
A Paradox of Reforming Pensions in Poland................................................. 322
Małgorzata Zielenkiewicz
The Role of the Level of Development, Geographical Factors,
and Culture for the Efficacy of Economic Freedom.................................... 323
Mariusz Zieliński
Unemployment and Labor Market Policy in Visegrad Group
Countries...................................................................................................................... 324
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Dorota Żuchowska
Accession to the Eurozone as Lithuania’s Exit Strategy From
the Currency Board System ................................................................................. 325
Marek Żukowski, Anna Białek-Jaworska
Determinants of R&D Costs Capitalization for Innovation-active
Firms.............................................................................................................................. 326