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Oczekiwania i decyzje gospodarstw domowych oraz przedsiębiorstw a makroekonomiczne konsekwencje polityki gospodarczej

Author(s): Marcin Krawczyk / Language(s): Polish Issue: 2/2016

The paper describes different approaches in the theory of economics (from Phillips curve through ricardian equivalence theorem to the demand for money) to the expectations of business entities on the future shape of basic macroeconomic aggregates. Inclusion of such expectations in theoretical framework of economics changes described economic processes and leads to change in the conclusions.

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An investigation of the financial monitoring policies for microfinance institutions in Ghana

Author(s): Kwami Hope Quao,Lawrence Mpele Lekhanya,Nirmala Dorasamy / Language(s): English Issue: 4/2017

The need to regulate microfinance institutions (MFIs) was advocated and researched yet lacks purposeful in-depth exploring studies of the formulation process of financial monitoring policies, their implementation and accompanying challenges. Consequently, this study contributes by reviewing the specific financial policies for microfinance in Ghana and assesses factors mitigating effective implementation of such policies. It also introduces implementation theory into the MF research arena, thus shifting MF research focus. The study revealed that policies formulated for MFIs in Ghana and elsewhere are skewed and policy implementation, monitoring and supervision found to be less effective. The results further identified inadequate support structures and large unlicensed profit-oriented informal microfinance operations in Ghana as major obstacles to efficient implementation of microfinance policies. This paper therefore recommends the creation of a semi-autonomous institution, the National Microfinance Oversight Authority, to license, regulate and supervise the informal microfinance institutions in Ghana.

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POLAND BECOMING NORDIC? CHANGING TRENDS IN HOUSEHOLD STRUCTURES IN POLAND AND FINLAND WITH THE EMPHASIS ON PEOPLE LIVING ALONE

Author(s): Urszula Ala-Karvia,Marta Hozer-Koćmiel,Sandra Misiak-Kwit,Barbara Staszko / Language(s): English Issue: 4/2018

This paper presents a comparative analysis of the household structure and its dynamics between post-economic-transformation Poland and Scandinavian-welfare-state Finland, with a focus on one-person households (OPH). Based on the literature, two research hypotheses were formulated: (H1) strong differences in the household structure in Finland and Poland still occur, and (H2) the share of one-person households is at very different levels in the two countries. However, due to the globally growing popularity of solo living, the difference is diminishing. Finally, an estimate was made for the time when the shares of one-person households will be equal in both countries if the changing trends from 2005–2015 stay the same. The first research hypothesis was proven to be correct. Small, one- or two-person households dominate the household structure in Finland, while in Poland the household structure by size was considerably more balanced. The second hypothesis was confirmed only partially. The share of OPH among all the households in 2015 was significantly larger in Finland (42%) than in Poland (24%). However, the difference between the countries was not diminishing. The share in Finland is increasing, while it is decreasing in Poland. This allowed the assumption that if the changing trends from the studied period are maintained, the shares of OPH in the two countries will not equalize, but will instead grow further apart. An estimate was made that in 2030 46% of Finnish households and 22% of Polish households will be one-person households.

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Dobre praktyki małych i średnich firm w obszarze społecznej odpowiedzialności

Author(s): Urszula Gołaszewska-Kaczan / Language(s): Polish Issue: 7.3/2015

: Operating in a turbulent environment forces businesses to constantly keep up to date with changes and search for new solutions, or even to try to forecast approaching shifts and to prepare for them. At the same time it makes firms watch and learn from other companies and use tried and tested methods in various areas of business activity. This article focuses on good practices applied by small and medium enterprises in the field of corporate social responsibility. The paper aims to present and popularise such practises. The activities were chosen using descriptions from “Raport. Odpowiedzialny Biznes” editorials.

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Mała i mikro spółdzielnia mieszkaniowa na gruncie uproszczeń w prawie bilansowym i stanowiska Krajowego Komitetu Standardów Rachunkowości

Author(s): Sławomir Jędrzejewski / Language(s): Polish Issue: 12.2/2015

The article discusses the problem of financial statements of small housing associations. The changes in The Accounting Act cause that financial statements of small and micro housing associations can become useless for assessing their specific operation. The situation is exacerbated by the information from The Committee Of National Accounting Standards about reporting of own funds in the financial statements of housing associations and determining the financial results. Using it conducts to an incorrect presentation of the results of operating. The purpose of the article is to indicate methods used to present true and fair results of operating and financial condition in small and micro housing associations

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Queueing models of polling type and their applications

Author(s): Gheorghe Mishkoy,Lilia Mitev / Language(s): English Issue: 1-2/2018

Polling model is a multi-queue system with a single server which visits thequeues according to a polling order and serves the customers from these queues. Furthermore,polling models are applicable in situations in which several users compete for access to a commonresource which is available to only one at a time, such as communication systems, traffic andtransportation systems, production systems, etc.

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Preventing Negative Values When Forecasting Non-Negative Time Series Variables

Author(s): Ali Tfaily / Language(s): English Issue: 2/2018

Long run time series variables forecasting is of special importance to academics and professionals alike. In this paper, the disadvantage of the “Natural Logarithm” transformation that prevents generating negative values in the forecast horizon is discussed. An alternative technique that does not suffer from the disadvantage of the “Natural Logarithm” transformation is presented. Both methods have been applied for forecasting the average USD deposits rate offered in the Lebanese retail banking industry.

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LEGAL AMENDMENTS CONSEQUENCES WHICH ADDRESS TO ENTITIES APPLYING THE INCOME TAX REGIME WITHIN OPERATIONAL ACTIVITY

Author(s): Ludmila Timotin / Language(s): Romanian Issue: 1/2020

The economic environment at the global level is in a continuous movement,manifesting itself as a process in perpetual evolution. The process of globalization of theformer national economies and the unprecedented increase of economic-financial marketsimportance impose on SMEs unique challenges regarding the growth of value and thepromotion of the performance. In this context, SMEs in order to become competitive mustadapt as well as possible to the market, to face other entities with similar activities throughquality and diversity of services, efficiency, modern management and of course optimalrates. The small entities are, therefore, forced to apply fixed rates to allow companies abudgetary certainty, this system being designed for the provision of basic services. Also,small companies, within their activity, encounter a lot of different barriers. These arecharacterized by different legislative changes, in all fields of activity and implicitly in thefield of accounting profession. The accounting profession is subject to new demands, in theconditions of globalization and application of financial-accounting techniques worldwide.This article aims to highlight the consequences of the changes, especially frequent in recentyears of legislation in the field of entrepreneurship activity, namely micro enterprises,which usually at the beginning of activity pays income tax from operational activity.

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Wewnątrzsektorowe nierówności dochodów gospodarstw rolniczych w Polsce w latach 2004–2017

Author(s): Ryszard Kata / Language(s): Polish Issue: 61/2020

The article analyses the disposable income differentiation between agricultural households and the income differentiation between family farms in Poland in the 2004–2017 period. The objective of the studies was to establish the scale of the income inequalities within the farming sector and determine how they changed over time. It was also to assess the impact of state budge subsidies for farmers on the level of income inequalities between them. The differentiation of the income of family farms was analysed by farm type and by farm economic size. The empirical materials used in the study comprised of the statistics from the Polish Central Statistical Office (GUS) and Eurostat, data from the FADN farming accounting system and data of the Polish Ministry of Agriculture and Rural Development. Income inequalities in agriculture were demonstrated to have displayed a growth tendency in the post-accession period. However, the differentiation of household income was substantially higher for income without any direct grants or other subsidies than for subsidised income. The financial transfers under the Common Agricultural Policy increased the income of farms in Poland but also contributed to its differentiation. The budgetary expenditures on farmers did not reduce the progressing income polarisation of farms but they inhibited the process. Successful management of income inequalities in farming through fiscal instruments requires subsidies that are ‘detached’ not only from the scale of production but also from the economic size and surface area of the farm.

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Empowering Nigerian Women Entrepreneurs through Microfinance

Author(s): Faith Ekele,Umaru Mustapha Zubairu,Afisat Ayorinde,Dauda Abdul-Waheed / Language(s): English Issue: 2/2018

This study investigated the impact of microfinance interventions on the psychological and economic conditions of women entrepreneurs. Specifically, it focused on 15 women entrepreneurs who had benefited from micro loans and leases from the Federal University of Technology Microfinance Bank (FMB) in the Nigerian city of Minna. A thematic analysis of the interview sessions with these women revealed that both microfinance interventions had a significant positive impact in empowering them psychologically and economically. However, it was recommended that for this positive impact to be amplified to include more women entrepreneurs, the qualifying requirements had to be made more flexible by adopting a social collateral approach rather than the traditional physical collateral approach currently adopted

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Risk Management Planning in a Construction Project

Author(s): Andreea - Mariana Manta,Cristina Dima,Marius Nicolae Pacurari / Language(s): English Issue: 2/2018

This paper presents an example of a risk management plan for a construction project to be developed in difficult environmental conditions. This Risk Management Plan defines how risks associated with the construction project in a desert zone will be identified, analyzed, and managed. It outlines how risk management activities will be performed, recorded, and monitored throughout the lifecycle of the project and provides templates and practices for recording and prioritizing risks by the Risk Manager. Based on our studies, risk management is an essential part of construction project management and should be always applied using appropriate tools.

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A Reverse Mortgage as an Opportunity to Cover the Costs of Long‑term Care – Solutions in the European Countries

Author(s): Anna Warchlewska,Rafał Iwański / Language(s): English Issue: 346/2020

The progressive aging of the population forces the world to face new challenges, especially in the financial sector. The paper strives to present possible forms of coverage of long‑term care in the private and public market. A reverse mortgage and perpetuity are a point of consideration for the world of science and practice but they are also associated with a great deal of controversy. According to the authors of this paper, the theme requires cognitive exploration. The aim of the study is to diagnose the current situation of financial markets in selected European countries related to a reverse mortgage and perpetuity. Assuming that the sources of funding the current needs of elderly people available on the financial market are voluntary ones, it is necessary to present a forecast covering the costs of long‑term care from public funds.

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THE OPPORTUNITIES FOR INFORMATION TECHNOLOGY UTILIZATION TO STRENGTHEN THE GROWTH OF SMALL AND MEDIUM ENTERPRISES

Author(s): Abdhy Aulia Adnans,Zainal Abidin Tarigan / Language(s): English Issue: 1/2020

This paper aims to present the advantages of the use of information technology that supports the growth of small and medium enterprises. The integration of technology represents the base forthe business environment to consolidate and to achieve continuous improvement. The study represents the literature review of the primary sources in the field, and it is one of the first papers that gives an overview of the latest essential aspects of the business sector. The main focus of the paper is to explore the opportunities of new technologies for Small Medium Enterprises (SME) in Indonesia. It has the primary objective to highlight the role of information technology integration in gaining competitive advantages on local and international markets. The results of the study conclude that the use of information technology supports small and medium enterprises growth.

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Budżet obywatelski – analiza porównawcza Gorzowa Wielkopolskiego i Opola

Author(s): Katarzyna Daniel / Language(s): Polish Issue: 1/2020

The concept of civic budget as a special form of social consultation was introduced into the Act on municipal self-government only in 2018. Inhabitants of a given city are decision-makers annually in the scope of a part of municipal budget expenditure. An example of good practices are Opole discussed in this article, where this solution was introduced in 2014. (1st edition of the budget for 2015) and Gorzów Wielkopolski, which has already introduced the civic budget in 2012 (1st edition of the 2013 budget). The article indicates similarities and procedural differences resulting from the regulations of civic budgets of both cities, and then presents the distribution of funds within the budgets and categories of tasks selected for implementation by residents in the editions of the budgets for 2016-2020.

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APPLYING THE EUROPEAN SUSTAINABLE DEVELOPMENT STRATEGY THROUGH UNIVERSITY RESEARCH AT 7TH DEVELOPMENT REGION

Author(s): Serjiu-Gheorghe OBREJA,Gavrilă Calefariu / Language(s): English Issue: 1/2020

The present paper emphasizes the role that research and innovation plays as part of the efforts that the Romanian society is making in order to achieve the goals of Sustainable Development. At the same time, based on an argument analysis, it is desired to point out some of the causes of the poor cooperation between universities and the business environment at regional level, by suggesting solutions that would bring about major changes at the three levels: social, environmental and economic. The final conclusions reiterate the need of putting into practice the new breakthroughs in science and technology with the help of structures and cooperation network as catalytic factors in economic development and smart specialization at regional and national level.

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Econometric Analysis to Examine the Relationship between Unemployment and Macroeconomics Aggregates. Evidence from Kosovo

Author(s): Besime Ziberi,Merita Avdiu / Language(s): English Issue: 2/2020

Unemployment is considered one of the most challenging economic problems in Kosovo. In fact, the very high unemployment rate is also the primary economic problem of the country. The purpose of this study is to analyze the correlation and the impact of macroeconomic aggregates in Kosovo's unemployment. Specifically, this study utilized macroeconomic aggregates as follows: Gross Domestic Product, Foreign Direct Investment, Exports, and Inflation. To prove this relationship, based on the theoretical literature, the econometrical model was constructed with multiple regressions analysis based on the Ordinary Least Square (OLS) method, utilizing secondary data from World Bank Indicators for the time period of 2001 till 2018 The paper concludes that in Kosovo, for the time period under consideration (2001–2018), the link between unemployment and economic growth is significant and the results show that 1% growth of Gross Domestic Product will lower the unemployment rate by 1.7%. Also, the results of the regression model show that the relationship between Export and Unemployment rate is significant, namely the increase in Export by 1% will reduce the Unemployment rate to (1,154) while the relation between Foreign Direct Investment and Unemployment rate results negative as growth for 1% of Foreign Direct Investment will increase the Unemployment rate to 1.25. Meanwhile, the results between unemployment and inflation showed an unsatisfactory and insignificant relationship between them.

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Analysis of Cyclicality in the Azerbaijan Economy: Results of the Chi-Square Test

Author(s): Ibrahim Niftiyev,Natavan Namazova / Language(s): English Issue: 2/2020

This study investigates the cyclical association between gross domestic product (GDP), monetary variables, international trade and foreign directed investments (FDI), and annual average oil prices (BRENT trademark) as explanatory variables in the Azerbaijan economy. The research methodology utilized a chi-square test of independence and goodness of fit test. The crosstabulation analysis used the nominal variables "increased" and "decreased" years, which refer to the transformation of the time series, mainly between 1991 and 2019. The results of the independence test demonstrated a statistically significant association between GDP, GDP per capita in current prices, international trade, FDI, and oil prices. However, the monetary indicators of economic growth, real GDP variables, and trade balance did not exhibit the same pattern. The results of the goodness of fit test showed a non-random deviation from the expected increased and decreased year in terms of GDP indicators and imports. This research is topical in light of the sharp oil price slump of 2020, which is reminiscent of the 2014–2015 downturn in commodity prices.

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Prevention in Dental Medicine. Case Studies and Explanations Regarding the Cost-Benefit Ratio

Author(s): Sorin Alexandru Ungureanu,Diana Andreea Mândricel,Bogdan Ioan Coculescu,Ionica Oncioiu / Language(s): English Issue: 2/2020

In this article, we set out to highlight the advantages of prevention in the field of dental medicine and what the minimum costs are in this case, as well as how they increase the more a condition is not detected in time and resolved quickly when it occurs, if the patient does not go to the dentist for a consultation once every six months or at least once a year. We will then exemplify by presenting specific cases encountered with different patients, depending on the severity of the disease and what the costs are for solving the problems that appeared in the oral cavity. For the study of the activities in the dentist’s office we chose the cluster analysis mathematical model.

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ÇAĞDAŞ ÜRETİM, BÜROKRASİ TÜRÜ VE ÖRGÜTSEL YAPI: BİR PLASTİK İŞLETMESİNDE ÖRNEK OLAY ÇALIŞMASI

Author(s): Mustafa Özseven / Language(s): Turkish Issue: 21/2020

This study aims to explain the relationship between the types of bureaucracy defined by Mintzberg (1980) and the organizational structure elements explained by Lawrence and Lorsch (1967) in a company with modern manufacturing techniques. The research was carried out in a company operating in the Çukurova Region and producing plastic by recyling plastic waste. The findings of the research were obtained by analyzing the data collected through face-to-face interviews. The findings of the research show that the company, which uses modern production techniques, has the characteristics of simple in some elements and mechanical bureaucracy in some elements. As a result, it was seen that formalization and centralization decreased in units with high uncertainty levels and increased in units with low uncertainty levels as explained by Lawrence and Lorsch (1967).

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Assessment of the company’s financial condition using a synthetic measure based on the example of a confectionery company

Author(s): Ewa Zdunek-Rosa,Agnieszka Anna Huterska,Justyna Łapińska,Robert Huterski / Language(s): English Issue: 2/2020

Motivation: Many methodological problems are associated with measuring and forecasting the company’s financial standing. Various methods have been developed to assess the current and future financial standing of enterprises. Their usefulness requires development and verification based on the example of a specific enterprise. The evaluation of one of these methods is the subject of this article.Aim: The research objective of the article is to propose a method for assessing the financial situation of a company and to carry out a forecast of the financial condition of an economic entity based on this method. To analyse the condition, indicator analysis and one of the methods of multivariate comparative analysis (MCA) were used — a synthetic measure was constructed, and then the time series analysis method was used (the model of the internal structure of the examined process was estimated). The study also attempts to determine the company’s financial condition forecast. The results of the study were presented based on the example of a company representing the food industry — the Wawel SA company.Results: In this study, the financial condition of the company was presented using a synthetic measure, which is a tool for multivariate comparative analysis (MCA). A model of the internal structure of the examined process was also estimated, based on which a forecast of the financial condition of a selected company representing the food industry was determined. The analysis showed that the presented methods are very useful for assessing and forecasting the company’s financial condition.

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